Exploring Factors Affecting User Perception of Trustworthiness in Advanced Technology: Preliminary Results

Abstract

People perceive advanced technologies to be nondeterministic as they become increasingly complex and opaque. Therefore, the issue of trust in technology is becoming crucial, particularly in risky domains where the consequences of misuse can cause significant harm or loss. There is a lack of design heuristics that consider the users’ perspective on the trustworthiness of technologies to support practitioners in promoting trust in technologies. In this exploratory study, we aimed to understand how users perceive the trustworthiness of advanced financial technologies. A survey was conducted to assess users’ risk propensity and trust in technology, followed by semi-structured interviews with 12 participants to examine their behaviours and perceptions when using cryptocurrency platforms. We use the observation method to triangulate the data, asking participants to show us how they use the application. The grounded theory analysis identified the following factors that affect users’ perceptions of trustworthiness in advanced financial technologies: Usability, Credibility, Risk Mitigation, Reliability, and Level of Expertise.