Faculty of Commerce, Law and Management (ETDs)

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    Implementing blockchain technology in the South African judicial system
    (University of the Witwatersrand, Johannesburg, 2024) Moropa, Xolisile
    Technology has played a pivotal role in enhancing many industries and therefore societies, which begs the question whether these technological developments can prove beneficial even to the judicial system in South Africa (Smith, et al., 2019). This research seeks to answer this question based on a qualitative approach to data collection from in-depth one-on-one interviews held with 15 participants including legal practitioners (attorneys, advocates, magistrates, and judges specialising in different areas of the law), and their clients. A focus group was also held with 10 similar participants. The research explores the current challenges experienced within the judicial system, and how the integration of blockchain technology could potentially enhance transparency, security, and efficiency in legal processes, thus leading to an improved client experience and benefits to legal businesses and courts in South Africa. The findings shed light on the potential benefits of blockchain technology implementation in the judicial system, as well as pointing to some of the socio-legal dynamics, technical considerations, and policy implications influencing the adoption of blockchain technology. All of this can offer valuable insights to policymakers, legal practitioners, and technologists who are seeking to navigate the intersection of law and emerging technologies within the South African context
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    The Impact of the Metaverse on the South African Insurance Industry
    (University of the Witwatersrand, Johannesburg, 2023) Mia, Rashad; Quaye, Emmanuel
    The internet is evolving, where virtual reality and artificial intelligence converge to create a more immersive online experience. This revolutionised digital space will allow users to interact and transact virtually with more users more efficiently. This will impact the way we live, work, and socialise. Despite multiple articles discussing the metaverse and its relational impact on the insurance industry, this research paper aims to understand the metaverse from different South African perspectives, and through virtual one on one interviews; participants were interviewed to unpack further potential risks and benefits of the metaverse on the South African consumer. This also led to perspectives on the potential insurance landscape within virtual worlds and the type of products and services that could stem from. The thematic analysis of the insurance landscape in the metaverse provided insights into emerging trends and opportunities in the space that covered themes such as virtual property insurance, cyber insurance, digital identity, reputational insurance, and personalised insurance products that could be developed to tailor individual needs. In terms of risks and benefits, the data and information highlighted themes that touched on addiction, privacy and security, social isolation as well as financial risks. On the other hand, the benefits mentioned were enhanced social experiences, access to new experiences as well as professional opportunities. The research of this paper intends to provide a localised viewpoint of insurance in South Africa and how such a highly regulated industry will pivot, if at all, towards the inevitability of the metaverse.
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    Determinants of organisational blockchain usage behaviour within the South African financial services industry
    (University of the Witwatersrand, Johannesburg, 2023) Paul, Ashley J.
    This report presents findings on individual blockchain usage behaviour at the organizational-level in the South African financial services industry. The study examined the influences of perceived usefulness, motivational factors, design and implementation, and perceived ease of use, on blockchain adoption behaviour. Empirical results from quantitative analyses following a survey of technical and non-technical managers within the South African Banking and Financial Service Industry (BFSI) (n = 158) revealed key insights. Perceived usefulness, while important, had a negative effect on blockchain usage behaviour, indicating that managers prioritize other organizational drivers over perceived usefulness. Motivational factors were insignificant, requiring further investigation with aligned respondent profiles. Design and implementation emerged as a highly significant factor, emphasizing the need for well-designed systems, user-friendly interfaces, and integration with existing processes. Perceived ease of use was insignificant, potentially due to managers' assumed background knowledge. The report concluded by highlighting the complexities and challenges of blockchain adoption in the South African financial services industry and recommended comprehensive education and training, well-designed implementations, and assessment of unique adoption factors. The study contributed to the existing literature by focusing on organisational-level blockchain usage behaviour and extending the Technology Acceptance Model (TAM). Future research must involve the examination of digital maturity, delivery methodologies, and the impact of non-technical skills on blockchain adoption behaviour. Overall, the study provides valuable insights for practitioners and researchers seeking to enhance blockchain adoption in organizational contexts
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    Determinants of organisational blockchain usage behaviour within the South African financial services industry
    (University of the Witwatersrand, Johannesburg, 2023) Paul, Ashley J.; Gatara, Maradona
    This report presents findings on individual blockchain usage behaviour at the organizational-level in the South African financial services industry. The study examined the influences of perceived usefulness, motivational factors, design and implementation, and perceived ease of use, on blockchain adoption behaviour. Empirical results from quantitative analyses following a survey of technical and non-technical managers within the South African Banking and Financial Service Industry (BFSI) (n = 158) revealed key insights. Perceived usefulness, while important, had a negative effect on blockchain usage behaviour, indicating that managers prioritize other organizational drivers over perceived usefulness. Motivational factors were insignificant, requiring further investigation with aligned respondent profiles. Design and implementation emerged as a highly significant factor, emphasizing the need for well-designed systems, user-friendly interfaces, and integration with existing processes. Perceived ease of use was insignificant, potentially due to managers' assumed background knowledge. The report concluded by highlighting the complexities and challenges of blockchain adoption in the South African financial services industry and recommended comprehensive education and training, well-designed implementations, and assessment of unique adoption factors. The study contributed to the existing literature by focusing on organisational-level blockchain usage behaviour and extending the Technology Acceptance Model (TAM). Future research must involve the examination of digital maturity, delivery methodologies, and the impact of non-technical skills on blockchain adoption behaviour. Overall, the study provides valuable insights for practitioners and researchers seeking to enhance blockchain adoption in organizational contexts
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    An assessment of the intention to adopt blockchain technology (BCT) in SMEs: A South African Analysis
    (University of the Witwatersrand, Johannesburg, 2023) Anderson, Brain
    This study examines the factors influencing the intention to adopt blockchain technology (BCT) among small and medium-sized enterprises (SMEs) in South Africa. Despite the potential benefits of BCT, such as increased transparency, security, and efficiency, its adoption among businesses, especially SMEs in South Africa, is still relatively low. To address this gap, the study proposes a conceptual framework that extends the Technology Acceptance Model (TAM) by including both internal and external variables. The study hypothesizes that these variables influence SMEs' perceived usefulness and perceived ease of use of BCT, which, in turn, influences their intention to adopt the technology. The internal variables in the framework include innovativeness, self-efficacy, and perceived system complexity, while the external variables include strategic orientation and social influence. To test the hypotheses, the study collects data from a survey of SMEs in South Africa, using a structured questionnaire. The survey includes questions on the SMEs' familiarity with BCT, their perceptions of its benefits and drawbacks, and their intentions to adopt the technology. The data is analysed using structural equation modelling to test the relationships between the variables. The findings of the study suggest that SMEs' intentions to adopt BCT are influenced by their perceptions of the technology's usefulness and ease of use, as well as their innovativeness, self-efficacy, and perceptions of system complexity. The study also finds that external factors, such as strategic orientation and social influence, play a significant role in influencing SMEs' intentions to adopt BCT. Overall, the study contributes to the literature on BCT adoption by extending the TAM with internal and external variables that are specific to the South African context. The study's findings have practical implications for SMEs in South Africa that are considering adopting BCT, as it can help them understand the factors that influence their intentions to adopt the technology. The study also provides recommendations for researchers who are interested in promoting the adoption of BCT among SMEs in South Africa.
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    Social media online privacy in South Africa: The case for blockchain technology innovation
    (University of the Witwatersrand, Johannesburg, 2023) Pinto, Edward Philip Beja Abegao; Sethibe, Tebogo
    In today's society, it has become nearly impossible to exist without an online presence on some form of social media platform. These platforms have become an integral part of our daily lives, serving as avenues for maintaining relationships and facilitating connections. However, the extensive use of social media exposes users to various privacy concerns and malicious activities. Furthermore, the generation of vast amounts of personal data on these platforms raises questions about data ownership, control, unauthorized data utilization, and constant user activity tracking. Over recent years, concerns surrounding privacy, risks, and exposure on social media have escalated, particularly regarding issues such as data ownership, control, unauthorized data usage, and user activity tracking. Social media users have increasingly expressed the view that platforms are making incremental security improvements without fully addressing users' genuine concerns, which may impact their economic models. This research paper seeks to explore whether blockchain technology can offer a solution to the privacy concerns raised by users of social media platforms. It evaluates the characteristics of blockchain technology in addressing the privacy- related issues associated with traditional social media platforms. The paper begins by establishing a foundational understanding of blockchain, privacy, and the role of social media platforms in today's society. The research identifies the challenges faced by everyday social media users as part of defining the research problem.
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    Antecedents of blockchain adoption by South African listed companie
    (University of the Witwatersrand, Johannesburg, 2022) Mbeki, Luyanda; Boris, Urban
    Blockchain technology is not a new concept, it was first introduced in 1991 by Stuart Haber and Scott Stornetta and made popular more than a decade ago by Satoshi Nakamoto (a name not yet verified if a real person or pseudonym) as a crypto trading platform. However, the technology has not enjoyed much success in the corporate environment. This study seeks to gain a deeper understanding of the failure of South African corporates to embrace this technology by studying the “Antecedents of blockchain adoption by South African listed companies”. Although the technology has been around for decades, one argues that it is not a revolutionary or disruptive technology as it finds very limited adoption in the corporate space. Due to its high degree of scientific and technical novelty, it is considered radical technological innovation. Therefore, the sub-objective of the study was to investigate to what extent organisational context, individual context and innovation context influence a decision to adopt blockchain technology. This was a cross-sectional study that adopted a comprehensive theoretical framework; Technology-Organisation-Environment (TOE), Technology-Acceptance-Model (TAM) and Diffusion-Of-Innovation (DOI) to unpack blockchain adoption and followed a quantitative approach. Organisational context which is part of TOE was measured by top management support and technology readiness, while individual context which is part of TAM was measured by perceived ease of use and perceived usefulness and lastly, innovation context which is part of DOI was measured by relative advantage. Due to the highly technical nature of the technology, the study focused on the general opinions of employees who work in South African listed companies, specifically decision-makers (managers, senior managers, executives) and subject matter experts (IT professionals). The primary data was from a sample size of 71 which was collected using self-administered questionnaire adopted from scholarly papers. Many statistical analyses such as Pearson’s correlation, regression, ANOVA, and t-tests were conducted. The study noted that the null hypotheses predicting that organisational context and individual context will positively influence the adoption of blockchain technology were rejected. Moreover, III because the hypotheses were rejected and therefore the relation was of no significance. The extent of the influence of organisational and individual context and the interpretation of the variables in the equation could not be explained. However, the study failed to reject the null hypothesis which predicted that the innovation context will positively influence the adoption of blockchain technology. This finding can be attributed to the distinct features of the blockchain technology providing relative advantage such as data transparency, efficiency and security
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    Blockchain technology and international money transfers into the Nigerian Remittance market
    (University of the Witwatersrand, Johannesburg, 2022) Bah, Aicha; Khumalo, John
    Blockchain has been making a buzz for a moment now. The nascent industry based on a “distributed ledger technology” is being globally explored especially by innovative start-ups and financial institutions looking to benefit from the technology. Revolutionized by the usage of cryptocurrencies in its processes, blockchain algorism is believed to have the potential to indubitably agitate the financial world. The promises of blockchain pretty much touch any domains imaginable provided the necessary resources are allocated towards its implementation. From governmental tools in election processes to individual peer-to-peer transactions, blockchain is being targeted by various parties seeking to extract the obvious advantages, the technology offers. This study focuses on how blockchain technology can benefit the Nigerian remittance market and observes how it has the potential to completely reinvent the financial and money transfer industry. Peer to peer money transfer methods have traditionally been done through financial institutions such as a bank or Western Union. In many regions around the world, especially on the African continent, the charges related to these transfers represent a high cost for the individuals performing them. Additionally, the regulations and required verifications on each step of an operation account for longer processing time. The main objective of this research is to explore an alternative financial solution for cheaper and more efficient remittance transactions internationally. The method used is a combination of desk research and qualitative field research that involves preliminary research on information already available about Blockchain technology, but also interviews with expert on the financial world. This research concluded that Blockchain technology and the use of cryptocurrencies into everyday transactions represents a real chance at entirely transforming the way individuals exchange money. A few limitations were observed in regard to regulations and control over its functioning. Either way, it is expected that both governmental entities and private corporations will lean towards exploring the “true” capabilities of this technology
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    The tax implications of crypto assets in South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Mistry, Riya; Kolitz, Maeve
    The primary objective of this research report is to examine the current South African legislation and guidance on the taxation of crypto asset transactions. More specifically, this research report will focus on identifying any inadequacies in the legislation and guidance issued by the South African Revenue Service (SARS) and provide suggested solutions to these inadequacies. In 2018, SARS issued a media release (South African Revenue Service [SARS], 2018) to clarify its stance on the tax treatment of crypto assets and issued a list of frequently asked questions on crypto assets which was revised in 2021 (SARS, 2021a). More recently, The Commissioner of SARS, Edward Kieswetter, confirmed that any undisclosed holdings of crypto assets would be a prioritised area of focus for the tax revenue authority in the 2021 year of assessment (Tax Consulting South Africa, 2021). This indicated that SARS would be focusing more on the taxation and verification of crypto asset transactions in the near future. In August 2021, SARS provided further guidance on the taxation of crypto assets on their website. According to this guidance, normal income tax rules apply to crypto assets, and affected taxpayers must declare profits and losses from crypto assets as part of their taxable income. Taxpayers are further required to declare all taxable income related to crypto assets during the tax year in which it was earned or accrued; if not, the taxpayer will be subject to penalties and interest (SARS, 2021b). The findings of this research report are that the acquisition, exchange, and disposal of crypto assets represent separate transactions with clearly identifiable income tax consequences in South Africa. The income tax consequences are dependent on whether the accrual and the amount are of a capital or revenue nature. This research report seeks to identify inadequacies in the legislation and guidance issued by SARS on the taxation of crypto assets. This will be achieved by conducting a comparative analysis between the legislation and guidance issued by the Australian Taxation Office (ATO) in Australia, the South African Revenue Service (SARS) in South