Do Cryptocurrencies have a Future in Emerging Markets? Evidence from Mauritius

Abstract

For the last two decades, we have witnessed major changes in technological advances. Most if not all individuals worldwide use technological tools to ease their lives. Mobile devices and computers are being used daily and through such devices, one can perform its investment or banking activities arround the clock. The purpose of this paper is to assess whether cryptocurrencies will have a future in emerging markets and especially in Mauritius. Mauritius is an island situated in the Indian Ocean and has a population of approximately one million two hundred citizens and ninety-one as at January 2019. The aim of the study is to investigate the factors that could lead to the adoption of cryptocurrencies in Mauritius. An online questionnaire was prepared and sent to 100 respondents and 71 were deemed as valid for the analysis. Our empirical findings showed that students and employed individuals could be the potential users of cryptocurrencies. Undoubtedly, the use of cryptocurrencies is strongly influenced by the regulations to be put in place. Recommendations have been made in view to assess the possible future of cryptocurrency in Mauritius.