Aim/Purpose: The study we present aims to explore several factors pertaining to Consumer Acceptance of business technology as it relates to cryptocurrencies. Identifying and developing the relevant measures is of importance to business technology managers and soft-ware development managers today. We ask the important question of âwhat measures best represent the established constructs of the technology acceptance model?â To address this issue, it is important to identify the key measurements that help us to under-stand the proposed constructs as they relate to cryptocurrencies as well as confirm their validity in isolation and in combination with each other. In this study, the factors we explore are perceived reputation, risk, and usefulness and transaction intentions. Methodology: A survey was used whereby the methodology adapted previous measurements from related works and new measurements pertaining to usefulness and risk were developed to adhere to cryptocurrencyâs consumer acceptance framework. 202 students completed the questionnaire, and an exploratory factor analysis was used to analyze the constructs and their measurements. Contribution: To address this issue, it is important to identify the key measurements that help us to under-stand the proposed constructs as they relate to cryptocurrencies as well as confirm their validity in isolation and in combination with each other. In this study, the factors we explore are perceived reputation, risk, and usefulness and transaction intentions. Findings: Through the results, we were able to identify and validate the relevant measurements as well as the proposed constructs.
Hayati Mohd Yusof, Mai Farhana Mior Badrul Munir, Zulnurhaini Zolkaply, Muhammad Ashraf Fithri Anuar
Digital currency or cryptocurrency, the latest development in investment is a virtual medium to purchase and sell goods and services, plays the role of a diversification tool, and features an attractive, alternative store of value.Recently, the Malaysian regulators were urged to legalise cryptocurrency as it is very attractive to young investors.Despite the overwhelming interests among young investors, they have held their interests over cryptocurrency due to the fear of the unknown and a few of its vague areas.This research is undertaken to explore the cryptocurrency interest and awareness among undergraduate university students as potential future cryptocurrency investors.As of to date, 116 students have participated in data collection and at this stage, the preliminary findings will be reported.About 78% of the young respondents admitted that they had little or no knowledge of the virtual currency.This research contributed in exploring cryptocurrency's value and risk from users' perspectives in a developing country setting such as Malaysia.This might shed new lights in raising awareness among the youth while managing cryptocurrency developments by regulators.More future research should be undertaken to assess the behavioural traits of the cryptocurrency providers, players as well as the societal acceptance of it.
A review of a selected theories that influence the adoption of technology will serve as the objective of this paper. In this work, we attempt to discover traits that might improve the possibility of acceptance and ongoing usage of technology such as cryptocurrency adoption. More specifically, we focused on Rogers' Innovation Diffusion Theory (IDT, Theory of Technology Acceptance (TAT), and Technology Acceptance Model. (TAM)/TAM2/TAM3, Theory of Reasoned Action (TRA), Unified Theory of Acceptance and Use of Technology (UTAUT), and Theory of Planned Behaviour (TPB). When researching the tendency of individuals to adopt certain technologies, researchers draw from a wide variety of conceptual frameworks and analytical approaches. In this review, social psychology and its applied notions have been utilised most frequently. As a primary theoretical foundation, the theories centre on people's intentions to engage in a specific behaviour (i.e., adopt and utilise ICT), which is the emphasis of the theories. Research on the adoption and usage of information and communication technologies has made extensive use of both the Theory of Reasoned Action (TRA) and the Theory of Planned Behaviour (TPB). They are two of the key intention-based theories, which means they give the core theoretical underpinnings for other adoption theories, such as the Technology Acceptance Model (TAM) and the Enhanced Technology Acceptance Model. Both the transpersonal relationship analysis and the transpersonal behaviour analysis begin with the fundamental premise that individuals deliberately choose whether or not they will engage in a certain behaviour. In this sense, the adoption and usage intentions are typically seen of as a primary outcome variable that is influenced by a variety of independent variables. This is because of the way that they are typically studied. In the following, we will discuss significant theories regarding the adoption of technology.
Cryptocurrency is gaining worldwide recognition. This research examines the psychological determining factors of consumersâ cryptocurrency adoption behavior based on the theory of planned behavior. 452 samples are collected from U.S consumers and the data are analyzed by PLS-SEM. The findings reveal that consumer innovativeness has positive influences on the attitude and perceived behavioral control for cryptocurrency and in turn affects the intention to use cryptocurrency. Subjective norm is a significant predictor of cryptocurrency intention and the LOHAS lifestyle moderates the influence of attitude on the intention. This research offers theoretical and practical implications for the cryptocurrency market.
We examine the influence of Twitter promotion on cryptocurrency pump-and-dump events. By analyzing abnormal returns, trading volume, and tweet activity, we uncover that Twitter effectively garners attention for pump-and-dump schemes, leading to notable effects on abnormal returns before the event. Our results indicate that investors relying on Twitter information exhibit delayed selling behavior during the post-dump phase, resulting in significant losses compared to other participants. These findings shed light on the pivotal role of Twitter promotion in cryptocurrency manipulation, offering valuable insights into participant behavior and market dynamics.
Purpose - The paper summarizes the theoretical and empirical knowledge on the use and transactions of cryptocurrencies in tourism and examines the use of cryptocurrencies as a means of payment in Croatian tourism. Methodology/Design/Approach â The empirical research examines the attitudes and opinions of tourists in Croatian tourism regarding their willingness to pay with cryptocurrencies while travelling. Findings - The research results show a low level of payment for tourism services with cryptocurrencies in the Republic of Croatia, but a fairly open acceptance of cryptocurrencies as a means of payment for tourism services. The study found no correlation between the profile of respondents and the motivation to pay with cryptocurrencies. However, a correlation was found between the age of the respondents and the intention to pay, but there were no statistically significant differences in the intention to pay according to the age group of the respondents. No correlation was also found between motivation and intention to pay with cryptocurrencies. Originality of the research â The study can serve as a basis for further research on the use of cryptocurrencies in tourism. It helps to expand knowledge about the motivation and intention to use cryptocurrencies on a tourism trip and to understand touristsâ behavior.
In response to the rapid growth of crypto trading in Thailand (Jenweeranon, 2022), a large number of legally registered crypto exchanges have been established in Thai digital asset marketplaces. However, the Thai government planned to impose a 15 percent withholding tax on all cryptocurrency transactions for 2022 (Helms, 2022). This might influence traders on local exchanges and the expansion of the crypto industry in the country. This study seeks to investigate the determinants of Thai investorsâ platform selection decisions for cryptocurrency trading. To fulfil the aim of the study, a binary regression analysis was performed through Thai crypto investors. The findings found that the choice of international cryptocurrency platforms might be defined by gender and education level. Men are more likely to choose local platforms than women are, while investors with a higher level of education are more inclined to choose global platforms. The paper suggests that local crypto exchange providers should consider their customersâ gender and educational background when creating marketing campaigns, in order to increase the likelihood of gaining new clients.
Purpose â In previous works we discussed the contribution of digital tourism not only to the improvement of the reputation of a Country (i.e. Sentiment Analysis) but also of the possibility to create opportunities for a new kind of online tourism. In recent times, with the development of the so-called Metaverse, also influenced by the pandemic emergency, Countriesâ digital efforts in creating tourism opportunities gave new perspectives related to the possibility to capitalize on digital content, transforming them â jointly with physical tourism experiences â into possible further incomes and means to increase a Countriesâ reputation. Specifically, in this context, we considered the enabling technology represented by Non-Fungible Tokens (NFTs), an innovative application of blockchains creating a unique opportunity in several sectors, including tourism. This work aims to explore possible applications of NFTs in tourism, analyzing the experiences currently in place. Methodology â Due to the innovative topic and the very few experiences in NFTs applications in tourism, this paper represents a preliminary review of current projects implementing the use of NFTs, so that the applied methodology consists mainly in qualitative analysis and discussion about the possible development of this technology in tourism. To this purpose, we introduced some applications currently in place, such as those of travel agencies like Travala, of some airlines (Air Europa, Emirates), Cruises companies (Norwegian Cruise Line), of the Economic Development Ministry of Slovenia (project âI Feel Nftâ, presented at Expo Dubai 2020, representing the first of this kind in the world). The paper explores possible implications and further development of these initiatives, designing possible metrics to measure their success, paving the way for future quantitative analysis once data about the introduced case-studies is available. Findings â Through the discussion of the cases found, it appears that the main benefits of digitisation through NFTs consist in promoting and presenting major tourist destinations, exhibitions, works of art and companiesâ products in the form of tokens, digital content and souvenirs for visitors. However, some of the analysed cases also suggest possible applications for actual commerce in the tourism sector, including ticketing services and hotel bookings. Other possible applications can be hypothesised with regard to the certified training of staff working in the hospitality sector. Originality of the research â The paper is highly innovative and currently unique in that the adoption of NFTs in tourism is recent and still open to proposals for implementation. The contribution is therefore very important, both in terms of operational proposals (applications, guidelines and good practices) and in terms of defining metrics for measuring the effectiveness of NFTs in the tourism economy.
The rapid growth of the cryptocurrency market has led to an increasing interest in the subject. Cryptocurrency is now recognized as an asset, and laws and financial regulations have begun to emerge for supporting its practical use. As a result, it has become essential to perform data mining and attain knowledge from text data related to cryptocurrency. Previous studies have focused on analyzing data from a single source such as Twitter. However, there are unique insights to be gained from data across multiple platforms. In the present study, we utilized data mining techniques to extract insights from LexisNexis, Web of Science, and Reddit, representing the media, academia, and general public, respectively. Among unsupervised learning technologies, topic modeling was employed for the analysis. Topic modeling is a methodology that uncovers hidden meanings within the collected data. Among the diverse topic modeling techniques available, bidirectional encoder representations from transformers topic was chosen for the analysis. BERTopic considered to be state-of-the-art in the field of topic modeling. Dynamic topic modeling was employed to track changes in themes over time. Our experimental results reveal a tendency in the news to cover major events related to cryptocurrencies, such as regulatory developments and market trends. Academic papers, on the other hand, tend to focus on the technology behind cryptocurrencies and related research. Finally, social media conversations center more around information delivery from an investorâs psychological perspective, such as market sentiment and investment strategies.
The rapid development and globalization of modern tourism have brought more and more tourists and tourist attractions, bringing opportunities to the tourism industry. However, challenges also come with it, including the cost of travelersâ trust, the satisfaction of personalized tourism needs, and the supervision and management of tourist attractions. In order to solve these problems and improve the tourism experience, this paper designs a blockchain-based smart tourism platform. First, by adopting blockchain technology, a decentralized database is established to reduce the cost of trust for travelers. Secondly, through the blockchain-based smart tourism platform, travelers can customize personalized travel routes and itineraries according to their preferences and needs. The platform uses the data interaction function of blockchain to visually display various resources and services of tourist attractions, and travelers can choose according to their own preferences to enhance the personalized experience of tourism. Third, the smart tourism platform based on the blockchain can provide the reliability and transparency of data information, and through the decentralized nature of blockchain, the relevant data of tourist attractions can be recorded and stored, and cannot be tampered with, ensuring the authenticity and credibility of the data. Regulatory authorities can easily access and review these data, and more effectively control and supervise scenic spots. Finally, this paper combines DPOS (Delegated Proof of Stake) and PBFT (Practical Byzantine Fault Tolerance) consensus algorithms to improve the on-chain consensus efficiency of blockchain-based smart tourism platforms. The consensus algorithm is the core mechanism to ensure the normal operation and consistency of the blockchain system, and improve the throughput and performance of the system by introducing DPOS and PBFT algorithms.
Paul Griffiths, Carlos J. Costa, Nuno Fernandes Crespo
Non-fungible tokens (NFTs) represent a multibillion-dollar global market. While considerable speculation exists about the future utility of NFTs, there has been limited research into the consumer behaviors of market participants. This research paper examines the motivations of NFT buyers through the lens of self-determination theory. Using a sample of 482 participants, the authors tested a conceptual framework to better understand both NFT buyersâ intrinsic and extrinsic motivations. This study expands the literature on NFTs in three different ways: i) it is the first study, as far as we know, to focus exclusively on NFT buyers and their motivations in purchasing NFTs; ii) it explores a variety of potential motivations theorized in the literature; and iii) it tests the expected future value of NFTs as both a motivation and as a moderator for NFT buyers. The authors determined that intrinsic motivation had the most substantial effect on purchase intention, and the expectations of NFTsâ future value positively moderated the effect of amotivation on purchase intention. In contrast, high expectations of future value moderated the effect of external regulation on purchase intention. The results suggest that NFT buyers are not as impacted by potential social or monetary gain as often characterized in the academic literature but behave more like traditional buyers of luxury goods.
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Consumer Behavior in Brand Consumption and Identification
Jan 1, 2023·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Lhorie Pirnay, Claire Deventer, Victor Amaral de Sousa
Non-Fungible Tokens (NFTs) are digital certificates of ownership that can be attached to any virtual or physical item. Recently, they have become increasingly popular, especially with the advent of metaverses, virtual spaces that are shared and accessible online. Many organizations are launching NFT initiatives for a variety of reasons including retaining customers, developing new revenue streams, or demonstrating that they are keeping up with the latest technological advances. When organizations launch NFT initiatives, they provide value to NFT users in various ways, depending on the NFT characteristics. This paper is a preliminary study to understand the value offered by organizations and perceived by NFT users. We examine 46 NFT initiatives from 42 companies to determine what value can be provided to users of NFTs. The goal is to provide a basis for further analysis on the values of NFTs and to support the design of Information Systems for NFTs.
Objective: The article aims to investigate how entrepreneurial behaviour among members of decentralized autonomous organizations (DAO) changes over time. Decentralized autonomous organizations allow for the creation of distributed organizations driven by organizational entrepreneurship, many of which are based on blockchain technology. The self-organization of DAO members and their entrepreneurial behaviour are crucial to the organizationâs development. Research on entrepreneurial behaviour in DAOs is scarce. Cryptocurrency markets, blockchain technologies, and community sentiment can evolve rapidly, making it important to longitudinally research such organizations and the entrepreneurship among their members. Research Design & Methods: We formulated research propositions and combined qualitative and longitudinal interviews with entrepreneurially active members of a DAO with data science-based sentiment analysis of the main Nano community over the course of 16 months. Findings: The entrepreneurial behaviour of DAO members can hinge on external circumstances, such as the health of the overall cryptocurrency market. Partly resulting from a crypto downturn, some of Nanoâs entrepreneurially active members reduced their engagement and stopped or downsized their conduction of entrepreneurial tasks. This change was also linked to lower levels of community activity and deteriorating sentiment scores. Entrepreneurial tasks such as marketing or outreach to customers were conducted to a lesser extent. The resulting picture is one of a fluid state of entrepreneurship within this DAO. We also found internal factors influencing entrepreneurial behaviour, especially related to the distinction between technology-oriented and market-oriented members and their changing levels of activity. Implications & Recommendations: The findings highlight the influence of external factors â such as the health of the cryptocurrency market â on the entrepreneurial behaviour of DAO members. This suggests that the success and engagement of entrepreneurial individuals within a DAO can be subject to volatility and fluctuations in the broader market, emphasizing the need for adaptability and resilience. Contribution & Value Added: This is one of the first articles to address the connection between entrepreneurship and DAOs based on blockchain. In doing so, it benefits from a unique data set comprising quantitative and qualitative elements.
The new generation of the web is characterized by decentralization, transparency, greater user autonomy, and privacy on one hand, while providing marketing professionals with increased opportunities and space for creativity, with a focus on user experience, and the establishment of relationships and communities before, during, and after product sales. This paper explores the opportunities offered by the new web generation in the field of marketing, identifies new tools that have been developed based on Web3 technologies, and analyzes their use for marketing purposes. The goal of the research presented in this paper is to enhance the theoretical framework of marketing strategies and techniques by analyzing the existing practical applications of Web3 technologies in this field and examining the awareness of potential users regarding key concepts, as well as assessing their prior exposure and the effects of Web3 marketing. Based on the literature review, an analysis of successful case studies, and the conducted research, conclusions were made on the current market penetration of Web3 and guidelines have been defined for planning marketing activities carried out within the Web3 environment.
This paper presents a conceptual model for analyzing the adoption of Web3 technologies within competitive gaming ecosystems. Web3, encompassing decentralization, blockchain, NFTs, and smart contracts, offers transformative opportunities for both game developers and players by enabling true digital ownership, new economic incentives, and decentralized governance structures. However, the adoption of Web3 in gaming raises various challenges, including technological readiness, user trust, economic incentives, and the potential for social and ethical concerns. The proposed model integrates these factors and examines their interconnected relationships, providing a framework that can guide the successful integration of Web3 technologies into gaming platforms. The model's application holds significant implications for developers, offering insights into how to align technological advancements with player expectations while creating sustainable, player-driven economies. Additionally, the paper addresses the broader implications of Web3 adoption, exploring the ethical and regulatory considerations that stakeholders must navigate. While the model offers valuable theoretical insights, further empirical research is needed to validate its applicability and refine its components in response to evolving trends in both Web3 technology and the gaming industry.
Blockchain technology is being applied worldwide. Although a large body of blockchain research has been conducted in various fields, little is known about press perspectives on adopting blockchain in journalism. This study explores the determinants of applying blockchain in journalism activities in Vietnam. Based on Unified Theory of Acceptance and Use of Technology (UTAUT) and previous research, we surveyed 287 people working at press agencies in Vietnam. The results from testing nine research hypotheses show that five factors, namely Technology Affinity, Effort Expectancy, Facilitating Condition, Technology Readiness, and Regulatory Support, positively impact the intention of applying Blockchain in journalism activities in Vietnam. Two factors, namely Performance Expectancy and Trust, were not positively strongly correlated to the use of blockchain. Besides, Regulatory Support is found to have a moderating effect on the relationship between Facilitating Condition and Behavioral Intention.
There is an increasing interest in cryptocurrencies, especially with the change brought to our lives by the COVID-19 pandemic regarding digital platforms. In this context, it is seen that many YouTube channels and Twitter accounts have digital interaction and produce current content about the circulation of digital currency that users have an intense interest in Turkey. Therefore, a three and half years (2019-2022) netnographic field study was conducted focusing on YouTube and Twitter platforms to evaluate interaction trends in the attitudes and behaviours of users about cryptocurrency investments in Turkey and compared to the pre-pandemic period. The study results show that, with the economic recession resulting from the pandemic, people and companies have an increasing interest in cryptocurrencies, especially in terms of saving and investment. This reveals that the increase in interest has transformed the pre-pandemic negative perception, and users have taken steps to interact and invest more.
The rapid growth in the number of cryptocurrency investors is a phenomenon that occurs during a pandemic.Investing in the capital market and cryptocurrency sectors has become a new lifestyle among young people in Indonesia.The majority are beginner investors or just joining the investment for the first time.They are chasing high profits from this newborn trading trend.A vast increase in the number of investors emerged in Indonesia.The high gain achieved from trading cryptocurrencies appeals to novice investors.Many young people are starting to invest in cryptocurrencies.The phenomenon is using funds for investment, even from borrowed money or debt.This study tries to develop a model regarding what factors influence behavioral intention to invest in cryptocurrencies.Factors that affect awareness, belief and attitude toward cryptocurrencies are assumed to influence.The study then examines whether attitudes toward cryptocurrencies mediate behavioral intentions to invest.The population in this study is students who know about cryptocurrencies.The sample in this study was 100 students in Yogyakarta.The method used is Structural Equation Modeling (SEM) analysis based on variance, i.e., Partial Least Square (PLS).The attitude variable partially mediates the behavioral intention to invest in cryptocurrencies based on the study results.