The possible contributive value of cryptocurrencies to Small Island Developing States

Abstract

Digitalisation has engendered interesting discussions about social and economic life for the future. Since the start of the COVID-19, there has been an increasing trend towards digitisation and digitised services which have created a need for safe and secure digital identities. One of these manifestations is the cryptocurrency phenomenon. Cryptocurrencies have become even more important as a solution to the financial and economic challenges faced by many developing countries during the current COVID-19 pandemic. However, where cryptocurrencies are concerned, most of the research done has been preoccupied with the current and future role of the industrialised and developing countries. Not surprisingly, virtually little research has been undertaken to examine the contributive value of cryptocurrencies for Small Island Developing States (SIDS). Using exploratory case study methodology and document analysis, this study attempts to fill the gap in the literature by exploring the possible contributive value of this technology for SIDS.