This paper investigates the concept of privacy paradox and the ensuing predicament of personal information disclosure in the context of online transactions. The application of privacy concern is examined in a boarder perspective by inculcating consumer behaviour through cognitive dissonance theory. This includes the exploration of the relationship between privacy and dissonance pertinent to disclosure decisions integrating the advancement of blockchain technology as a part of the sharing economy. The study conducted 24 in-depth interviews on grounded theory methodology. The findings included extending the privacy paradox by classifying the impact of online technology and recognising the influence of privacy paradox in manifesting cognitive dissonance providing a new dimension to consumer behaviour literature. The proposed conceptual model of the study presenting blockchain technology through sharing economy will contribute to manage the enigma of privacy paradox and ensuing dissonance facilitating firms to improve the privacy of online transactions.