Vladislav V. Fomin, Ugnius Kerulis, Rihards GrÄmatiĆĆĄ, Tan GĂŒrpinar
Background: Despite the financial technology (Fintech) industry being marked as a strategic development direction in many countries, cryptocurrency products show low adoption rates. Purpose: This study investigated factors affecting consumer trust in cryptocurrency products, particularly exchanges and crypto wallets. Methods: A three-stage multi-method approach was adopted: two non-probability convenience surveys and a systematic literature review. The initial survey (N=45) was followed by literature review (N=16) and a follow-up survey (N=95). Qualitative and quantitative analysis techniques were used. Findings: Trust must be understood as a versatile concept, with consumers perceiving different factors differently when choosing cryptocurrency products. Two key findings emerged: convenience, rather than trust, is the biggest factor attributed to cryptocurrency product popularity and adoption. Second, an inverse relationship exists between trustworthiness and popularity of information sources about cryptocurrency products, with less popular sources being more trusted. Consumers rely on convenience-based attributes like the ease of use and accessibility, which indirectly influence trust perception. Conclusions: Trust degree is not bound to specific products or services but depends on consumer intentions and knowledge, among other factors. Research implications: The authors suggest policy and innovation development directions to increase consumer trust in cryptocurrency products.
Vitor Ayres Principe, Tiago Ribeiro, Samuel LĂłpezâCarril
The integration of blockchain technology in sports event management represents a significant shift towards more decentralized and efficient governance structures, particularly relevant to small and medium-sized events. Despite growing interest, its practical implementation remains limited and lacks comprehensive theoretical guidance. This study addresses this gap by proposing an integrated theoretical framework, combining the Dynamic Capabilities Framework (DCF), Collaborative Governance Theory (CGT), and the Four Modes of Governance (FMG), to systematically explore blockchain's application within sports event management. Our analysis reveals that blockchain technology can effectively foster transparency, efficiency, and enhanced stakeholder participation through Decentralized Autonomous Organizations (DAOs). These advantages are realized through key mechanisms of access, control, and incentives, which interact across external environments, governance structures, and blockchain core infrastructure. Furthermore, the study identifies critical managerial implications necessary for successful blockchain implementation, emphasizing strategic infrastructure assessments, stakeholder engagement, and risk management protocols. Ultimately, this research contributes both theoretical insights and practical guidelines, addressing existing knowledge gaps and providing a structured framework for leveraging blockchain in managing small to mediumsized sports events.
This conceptual paper contributes to the nascent Web3 marketing stream via offering a novel typology of Non-Fungible Tokens (NFTs) as blockchain-enabled digital offerings. Grounded in a customer-centric approach to marketing strategy, our 2 Ă 2 typology suggests that NFTs vary in terms of the value on offer (i.e. value-in-use/value-in-exchange) and the strategic focus pursued by firms/creators (i.e. transactional/relational). Four main types of NFTs thus emerge: 1. Validation certificates; 2. Digital replicas; 3. Immersion enablers; and, 4. Digital upgrades. For each NFT type, we discuss their distinctive features, the opportunities they offer and their shortcomings, before detailing their strategic implications. Our typology offers researchers and practitioners who want to engage with the Web3 space a solid grounding for understanding the implications of deploying different types of NFTs from a strategic marketing perspective.
Open access
2 source records
Service and Product Innovation
Blockchain Technology Applications and Security
Consumer Behavior in Brand Consumption and Identification
Sara AlonsoâMuñoz, RocĂo GonzĂĄlez SĂĄnchez, Soraya GonzĂĄlez-Mendes, Fernando E. GarcĂaâMuiña
Purpose This paper aims to examine the relationship between the implementation of blockchain in the tourism and hospitality industry (T&HI) and its state-of-the-art. The aim is also to identify emerging research topics and gaps in this area. Design/methodology/approach A bibliometric overview is presented to examine articles from Web of Science published between 2018 and January 2024. The analysis was performed by VOSviewer software using the co-occurrence technique. Findings The results reveal the growing interest in blockchain technologies (BCT) applications in the T&HI. To reveal the conceptual structure and emerging research hotspots in this area, seven clusters were identified along with their interrelationships. This paper discusses the features and attributes of BCT mechanisms, including cryptocurrencies, distributed ledgers, smart contracts and consensus algorithms. The analysis highlights the drivers for increasing adoption and acceptance to promote smart tourism, transparency, trustworthiness and disintermediation. This paper explores the use of non-fungible tokens (NFTs) in the metaverse to promote authenticity and enhance touristsâ experiences, with emphasis on achieving cost-effectiveness and sustainability in the T&HI. In addition, key challenges are identified, with a focus on security and privacy. Practical implications This study provides timely and valuable insights concerning the application of BCT in the T&HI. It elucidates the factors that contribute to the optimal implementation of BCT, such as the collaboration between stakeholders and the key role of regulatory frameworks. Furthermore, it considers the implications for the design of new services towards enhancing sustainability and customer experiences. Originality/value This paper presents the first bibliometric analysis of the use of BCT in the T&HI. It identifies research gaps and future research avenues, which can guide further investigation in this area. This study provides valuable information for organisations, managers and academics who are considering future applications, benefits and challenges in the field of sustainability issues and technology acceptance.
Abstract The concept of the metaverse, an integrated environment encompassing virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and blockchain technology, is revolutionizing brand-consumer engagement. This academic paper integrates data from quantitative surveys, expert interviews, and real-life brand applications to investigate the transformative impact of immersive and interactive environments on marketing. It examines how these technologies foster emotional engagement, customer loyalty, and digital innovation. Furthermore, the study delves into strategic implementations, including non-fungible tokens (NFTs), virtual brand ambassadors, and AI-driven brand communications, while also addressing the ethical challenges associated with this new digital frontier. The metaverseâa convergence of virtual reality (VR), augmented reality (AR), artificial intelligence (AI), and blockchainâis redefining how brands engage with consumers. This research paper combines insights from quantitative surveys, expert interviews, and real-world brand case studies to explore how immersive, interactive environments are driving emotional resonance, loyalty, and digital innovation. Highlighting strategies involving NFTs, virtual influencers, and AI-powered brand engagement, this paper presents a thorough analysis of opportunities and challenges that define metaverse marketing today.
Open access
Digital Marketing and Social Media
Consumer Behavior in Brand Consumption and Identification
Non-fungible tokens (NFTs) are an emerging application of blockchain technology, with the potential to transform various industries, including tourism. Despite conceptual discussions that have highlighted opportunities and challenges associated with using NFTsâsuch as in digital souvenirs, ticketing systems, loyalty programmes, and conservation initiativesâthere is a critical gap in the literature consisting of the lack of a structured methodological framework to empirically evaluate the impact of real-world NFT implementations. This study addresses this gap by proposing a conceptual model and methodological framework designed to assess NFT projects in the tourism sector. The framework integrates diverse data collection methods, advanced analytical techniques (including econometric analysis, natural language processing, and machine learning), and a technological workbench for tracking key performance indicators (KPIs). To demonstrate its applicability, the framework is applied to the Dalmatia NFT project, an exploratory application in cultural tourism. The considered example highlights the potential of NFTs to enhance tourism experiences while addressing challenges such as scalability, sustainability, and user engagement. This study concludes with insights into the frameworkâs practical implications for stakeholders and outlines future research directions for empirical validation. By bridging the gap between theory and practice, this study aims to provide a robust foundation for effectively integrating NFTs into the tourism industry.
Background In recent years, the rise of âAI+artsâ has increased public attention towards emerging digital collectibles and garnered significant interest among young adult collectors globally. However, there has been limited investigation into how emerging media effects may influence consumersâ purchase of digital collectibles from the perspective of relevant theories, particularly in collectivistic cultural contexts. To address this gap, the present study is guided by the extended Theory of Planned Behavior (TPB), integrated with ideal self-congruence, and rigorously examines the effect of exposure to Non-Fungible Token digital art information on the intention to purchase digital collectibles among young Chinese adults (aged 18â34). Methods A total of 259 responses were obtained through an online survey. Statistical analyses, including direct, indirect, and serial mediation, were conducted using SPSS 25.0 and Jamovi 2.6.24. Results The findings indicate that both TPB and ideal self-congruence act as mediators in this relationship. Additionally, a serial mediation process involving ideal self-congruence and attitudes toward intelligence was identified. Conclusion These findings provide valuable insights into the complex factors influencing the purchase intention of digital collectibles among young Chinese adults. Furthermore, the findings offer recommendations for digital collectible platforms and relevant stakeholders.
Open access
Digital Marketing and Social Media
Art History and Market Analysis
Consumer Behavior in Brand Consumption and Identification
Leonidas Theodorakopoulos, Alexandra Theodoropoulou, Christos Klavdianos
The rapid growth of digital platforms has fundamentally reshaped network and viral marketing, profoundly transforming how information spreads across social networks and influences consumer behavior. This comprehensive review synthesizes theoretical, computational, and ethical perspectives into an integrated narrative, providing novel insights into the mechanisms driving information diffusion within contemporary interactive marketing. By integrating foundational concepts from social network theory, advanced graph models, and behavioral dynamics, the paper demonstrates how the interplay between network structures, influencer behaviors, and AI-driven algorithms significantly redefines traditional marketing paradigms. A distinctive theoretical contribution of this study lies in its innovative combination of Big Data analytics with AI-based predictive modeling, explicitly revealing how real-time algorithmic personalization not only enhances marketing effectiveness but also creates new ethical tensions surrounding misinformation, algorithmic bias, and consumer vulnerability. Addressing recent calls for greater theoretical originality and narrative coherence in interactive marketing research, this review explicitly highlights how these insights resolve critical theoretical puzzles and clarify contemporary ethical dilemmas. Additionally, the paper identifies emerging trendsâincluding Web3 marketing, decentralized platforms, and neuroscience-driven targetingâoffering clear future research directions. Through its integrative, narrative-driven framework, this study significantly advances interactive marketing theory, providing essential guidance for scholars and practitioners navigating the evolving complexities of digital influence.
The rise of social media has significantly influenced the cryptocurrency market, driving volatility through sentiment-driven trading. This study employs a bibliometric and content analysis approach to examine how social media, particularly Twitter, impacts cryptocurrency price movements. Using the bibliometric analysis, 151 peer-reviewed articles published between 2018 and 2024 were analyzed to identify key research trends, themes, and potential future research. This study finds that social media sentiment plays a crucial role in cryptocurrency price forecasting, with machine learning and natural language processing (NLP) techniques enhancing prediction accuracy. Thematic analysis reveals four primary areas of focus: sentiment analysis and market prediction, machine learning-driven algorithmic trading, blockchain investment risks, and influencer-driven market behavior. This study contributes to the field by consolidating existing social media sentiment and cryptocurrency valuation knowledge, offering insights to investors, regulators, and academics. It highlights the need for future research to integrate multi-platform sentiment analysis, regulatory considerations, and behavioral finance perspectives. These insights are vital for understanding the evolving landscape of digital asset markets and their susceptibility to sentiment-driven speculation.
The current study aims to explore the early adoption of the metaverse in the hospitality and tourism industry, with a particular focus on understanding adoption drivers for tourism providers and the anticipated benefits for end-users. Addressing the need for practical insights in a rapidly evolving digital landscape, the review identifies 33 real-world early cases of metaverse and non-fungible token (NFT) adoption, spanning from the first metaverse hotel in 2006 to ongoing digital twins of tourism destinations up to 2023. This study follows the PRISMA technique and examines early metaverse adopters at both the enterprise and destination levels, categorizing them into metaverse-based, NFT-based, and complementary-to-tourism cases. The analysis applies two theoretical frameworks: the Unified Theory of Acceptance and Use of Technology (UTAUT) to examine adoption drivers and the Technology Acceptance Model (TAM) to assess expected end-user benefits. Key findings highlight promotion, brand engagement, new revenue streams, and community building as primary motivations for adoption, while user benefits include enhanced entertainment, social interaction, improved decision-making, and immersive experiences. By bridging theory and practice, this study contributes both actionable guidance for tourism stakeholders and a theoretical foundation for future research on digital transformation in tourism.
Wenjie Li, Graciela Corral de Zubielqui, Sally Rao Hill
This study explores the evolving intersection of branding and digital assets through the lens of non-fungible tokens (NFTs), focusing on their role in shaping dynamic brand experiences. We propose a typology framework that examines how NFTs contribute to brand experience design and provides their implications for brand-consumer relationships. The research analyses five distinct NFT functionsâstorytelling media, identity badges, product access pass, change medallion and gamification elementâand connects these roles to five types of brand experience design: brand heritage, community, product orientation, collaboration, and gamification. The findings contribute to digital branding literature by advancing the understanding of the function of digital assets within the brand experience design. This study offers a structured understanding of the value of NFTs in digital brand building by providing the roles NFTs play in brand experience. It explores the dynamic potential of brands to integrate NFTs into their strategies in the evolving Web3 environment. Finally, the industry pattern identified in this study provides insights for scholars and practitioners seeking to utilise NFTs effectively.
Open access
Consumer Behavior in Brand Consumption and Identification
The rise of social media sites has far-reaching effects on numerous areas in our life, including money decision-making. In the context of cryptocurrency, a novel alternative asset class for investment the roles of social media have taken on more and more powerful roles in determining investors' behaviors, market structure, and even eco-consciousness. This paper aims to explore the intricate relationship between social media engagement and cryptocurrency investment trends, with a special emphasis on environmental considerations and market volatility. In this paper, we use wavelet comovement and coherence analysis to explore the multifaceted relationship between social media, environmental awareness, and cryptocurrency investment dynamics. Empirical results show a positive relationship between the Cryptocurrency Environmental Attention index-based social media which highlights the significant influence on investor attitudes. The interactions between the Index of Cryptocurrency Environmental Attention, cryptocurrency uncertainty, financial market, and gold demonstrate complex relationships shaped by market volatility, investor behavior, and social pressures. The quick investor responses to environmental concerns and regulatory changes highlight the short-term negative relationship, while the positive influence of social media underscores the significant impact of social awareness on investment decisions and corporate practices. This underscores the importance of integrating environmental criteria into financial strategies to meet evolving investor expectations and societal demands.
Hongzhou Chen, Chenyu Zhou, Abdulmotaleb El Saddik, Wei Cai
In the rapidly evolving Web3 world, non-fungible token (NFT) communities are reshaping the formation, distribution, and activation of social capital in ways distinct from traditional models. However, despite their growing impact on societal prosperity, a comprehensive understanding of social capital dynamics within Web3 NFT communities remains limited. This study explores the Mfers community, a key example within Web3 NFT ecosystems. By analyzing social media and blockchain data and using a Delphi method-based human-large language model (LLM) collaboration, we uncovered unique social capital patterns across six dimensions. Our findings highlight a compelling blend of decentralization, inclusion, trust, and empowerment but also raise critical questions about wealth inequality, content quality, and ethical challenges. Based on the findings, we discussed the uniqueness of social capital in Web3 NFT communities, the tension between technical and power decentralization, and the multidimensional nature of societal prosperity. We also suggested directions for future research on decentralized online communities in the CSCW field. This study provides a systematic perspective on social capital in Web3 NFT communities and introduces an innovative human-LLM collaborative analysis, offering insights into the design and governance of benign decentralized online communities.
Yifan Cao, Reza Hadi Mogavi, Meng Xia, Leo YuâHo Lo · 9 authors
Today's world is witnessing an unparalleled rate of technological transformation. The emergence of non-fungible tokens (NFTs) has transformed how we handle digital assets and value. These tokens have captured the interest of scholars and businesspeople alike. However, NFTs have recently seen a sharp decline in popularity. While cryptocurrency volatility and monetary policies greatly influenced NFT market trends, the community aspects of NFT projects--particularly trust-based interactions--also play a crucial role in NFT adoption and sustainability. From a social computing perspective, understanding these trust dynamics offers valuable insights for the development of both the NFT ecosystem and the broader digital economy. China presents a compelling context for examining these dynamics, offering a unique intersection of technological innovation and traditional cultural values. Through an in-depth qualitative study of Chinese NFT communities, we examine how socio-cultural factors influence trust formation and development. We analyzed discussions from eight prominent WeChat groups dedicated to NFTs and conducted 21 semi-structured interviews with three types of NFT community members. We found that trust in Chinese NFT communities is significantly molded by local cultural values. To be precise, Confucian virtues, such as benevolence, propriety , and integrity , play a crucial role in shaping these trust relationships. Our research identifies three critical trust dimensions in China's NFT market: (1) technological , (2) institutional , and (3) social . We examined the challenges in cultivating each dimension. Based on these insights, we developed tailored trust-building guidelines for Chinese NFT stakeholders. These guidelines address trust issues that factor into NFT's declining popularity and could offer valuable strategies for CSCW researchers, developers, and designers aiming to enhance trust in global NFT communities. Our research urges CSCW scholars to take into account the unique socio-cultural contexts when developing trust-enhancing strategies for digital innovations and online interactions.
Sharareh Shahidi Hamedani, Patrick Brian Francis, Sarfraz Aslam
Cryptocurrency is a digital asset designed to work as a medium of exchange that utilizes cryptography for security, unlike traditional currencies. Generally, the acceptance of Cryptocurrency in Malaysia is still in its early stages of adoption. The study examined the key factors influencing Millennials' willingness in Malaysia and how regulation moderates the relationship between these factors and Millennials' willingness to adopt cryptocurrency. Data were collected using a questionnaire developed from the literature. A total of 385 respondents from the millennial age group participated in this study. SMART PLS software was used for analysis involving measurement and structural models. The findings indicated interesting results. Millennials were very aware of cryptocurrency. However, when applying the regulation moderator, the results showed a high understanding of the importance mainly derived from Social Influences. The adoption of the knowledge in practice was not significant. With the inclusion of the major banking institutions, the market scope of cryptocurrency will inevitably increase soon.
This study aims to determine factors that influence Mongolian customersâ intention to use cryptocurrency, which is a virtual currency created by fast-growing technology. For the theoretical framework, the extended Unified Theory of Acceptance and Use of Technology (UTAUT2) along with received risk and financial literacy was used. Data in this study were collected by conducting survey questionnaires from cryptocurrency users of cryptocurrency platforms in Mongolia. Analyzing the data which consists of 720 valid datasets was accomplished by using SmartPLS software. The results of partial least squares structural equation modeling (PLS-SEM) showed that behavioral intention to use cryptocurrency is significantly and positively influenced by performance expectancy, price value, perceived risk, hedonic motivation, and facilitating conditions. In contrast, financial literacy has a significant negative impact on the behavioral intention to use cryptocurrency. The other two variables, effort expectancy and social influence, have no impact on cryptocurrency use. The proposed model explains 59.3% of the total variance in intention to use cryptocurrency among Mongolian customers. The outcomes of our study hold noteworthy implications for policymakers, individual users, and stakeholders within the cryptocurrency domain, as well as researchers engaged in scholarly investigations within this field. JEL Classification : G4, G11.
In order to solve the problem of low security of high network information sharing, the architecture and implementation of agent-based information sharing and pushing system are proposed. Firstly, the information node registration algorithm is introduced to draw the organization network connected to the public network into an orderly block network and extract the abnormal information of network nodes; Secondly, a complete network identity security threat intelligence is generated through effective scheduling and transmission of network identity security threat intelligence; Finally, the distributed ledger technology is introduced to match it with IP network, and the private chain and data are extracted by constructing data structure on the information chain to realize the generation and operation of intelligence information sharing model. The experimental results show that the model designed in this paper can protect the privacy information that all network users need to protect in the process of sharing information resources, and its privacy protection intensity exceeds 0.950. Conclusion: The proposed sharing model can realize the safe sharing of user intelligence information in practical application, and the userâs private intelligence information will not be leaked during the sharing process, which reduces the threat degree of network security.
Non-fungible tokens (NFTs) represent a promising application of blockchain technology that can potentially disrupt various sectors, mainly tourism. While there have been conceptual discussions regarding the opportunities and challenges of utilizing NFTs for purposes such as digital souvenirs, ticketing, loyalty programs, and conservation initiatives, there remains a significant need for a robust methodological framework to assess the impact of real-world NFT implementations empirically. This paper presents the methodological foundation of ongoing research. It proposes a comprehensive approach to researching NFT initiatives within the tourism sector, which includes data collection methods, analytical techniques, and the design of a workbench for monitoring key performance indicators (KPIs). The proposed framework combines quantitative and qualitative measures to capture the complex nature of NFT adoption, including financial performance, visitor engagement, user experience, and operational efficiency. By establishing standardized protocols and metrics, the proposed methodology aims to enable cross-study comparisons and contribute to developing the best practices for leveraging NFTs in the tourism industry. The work highlights the potential of NFTs to enhance visitor experiences, generate new revenue streams, and promote destinations as tech-savvy hubs, while also addressing ethical and sustainability concerns. The conclusion emphasizes the importance of a structured approach to evaluating NFTs initiatives, which can provide valuable insights for tourism organizations seeking to innovate and remain competitive in a digital landscape. Future research should focus on validating the framework through real-world case studies, exploring additional applications of NFTs in tourism, and addressing challenges related to data availability, technological integration, and stakeholder collaboration.
ABSTRACT While nonâfungible tokens (NFTs) have emerged as a significant blockchain application, research has largely focused on market dynamics rather than consumer behavior. Through inâdepth interviews with 21 NFT consumers and a netnographic analysis of Discord interactions (109,517 words), this study develops a comprehensive framework explaining the evolution from initial purchase to sustained or discontinued interest in NFTs. The findings reveal that while profit expectations drive initial purchases, strong community bonds and social identity formation are crucial for maintaining engagement. Specifically, active community participation, both before and after purchases, creates a selfâreinforcing cycle where engagement directly influences NFT valuation. However, unfulfilled profit expectations and perceived community abandonment by project leaders often lead to disillusionment. The study extends the NeedâtoâBelong and Social Identity Theory to the digital asset context, demonstrating how NFT communities serve as platforms for identity expression and emotional support, transcending purely financial motivations. For practitioners, the findings suggest that sustainable NFT projects should prioritize community building and transparent leadership over shortâterm speculation. This research provides the first longitudinal analysis of NFT consumer behavior, offering insights into how digital assets can create enduring value through social engagement rather than merely speculative trading.
This study examines the representation and evaluation of Web3 technology in the German music media from 2016 to 2022, focusing on its prevalence, framing, and acceptance in the context of the music sector. Utilizing framing theory and the Technology Acceptance Model, a quantitative content analysis was conducted on articles from various music magazines. The findings indicate a generally positive portrayal of Web3, with significant discussion peaks in 2019, 2021, and 2022. Notably, no coverage was found in music education magazines, suggesting a gap in Web3 engagement in pedagogy. Much of the coverage was in Musikwoche, highlighting Web3âs impact on business aspects like ticketing, copyright, and licensing. The overall positive depiction, juxtaposed with limited critical evaluation, points to the need for a more nuanced discourse. The study underscores implications for balanced media coverage, informed musician engagement with Web3, and the potential for incorporating this technology in music education. It highlights the importance for the music industry of capitalizing on Web3âs positive aspects while practising critical awareness, and it calls for further research to explore the depth of Web3âs influence in music.
In the context of the deep integration of rural revitalization strategy and digital technology, the digital transformation of rural tourism faces threefold dilemmas of efficiency, trust, and cultural preservation. This paper, taking blockchain technology as a starting point, systematically explores the internal logic and practical paths of its empowerment in rural tourism, aiming to construct a "technology-scenario-governance" collaborative framework to resolve structural contradictions in industrial development. The study is based on the Social-Technical Systems Theory (SST), adopting interdisciplinary research methods, and uses typical cases to demonstrate how blockchain technology drives high-quality development in rural tourism by reconstructing production relations. The study finds that blockchain technology, through mechanisms of "trusted data flow" and "autonomous smart contracts," reshapes the power structure, value transfer, and governance models in rural tourism. Its distributed ledger feature solves issues such as data islands and the loss of trust in stakeholders, while its DAO governance and Token economic models activate villagers' participation. The paper also proposes four-dimensional application scenarios covering trusted service chains, value co-creation chains, green governance chains, and inclusive finance chains, achieving the reconstruction of consumption scenarios, cultural IP development, ecological supervision optimization, and investment and financing innovation through technological integration. Furthermore, the paper warns of three major challenges for the technologyâs implementation: the gap between computing power and rural infrastructure, the institutional coupling difficulties between on-chain and off-chain systems, and the conflict between technological rationality and rural ethics. It proposes a "lightweight blockchain + edge computing" technical solution and designs a "multi-party chain governance committee" system to balance the rights and responsibilities of government, enterprises, and villagers, incorporating "ethical coding" into the design of technology to embed rural culture. Future research should focus on the integration of the metaverse, AI, and blockchain technologies, enhancing service personalization while preventing cultural alienation risks, thus providing solutions for rural common prosperity that combine technological innovation with the protection of cultural roots.
Yingqiang Ge, Haochuan Wang, Kenny Cheah Soon Lee, A.Z.N.I.Z.A.R.I.N.A.B.I.N.T.I. TAHA
Social media plays a critical role in influencing Bitcoin adoption trends from 2015 to 2023, acting as both an enabler and a disruptor. While platforms have enhanced public awareness of cryptocurrency, they have also fuelled challenges such as misinformation and impulsive behaviour, often undermining responsible consumption of Bitcoin as a financial tool. This dual role underscores the need for targeted interventions to ensure that the adoption of Bitcoin aligns with ethical and informed practices. To foster responsible consumption, social media platforms must address the issue of content imbalance. Algorithms that prioritize sensationalism over educational material often mislead users, steering them toward impulsive decisions. A redesign of these algorithms is essential to elevate balanced, fact-based content that empowers users to make informed choices about Bitcoin. Additionally, introducing verified content tags can serve as a vital measure to combat misinformation, ensuring that users can easily identify credible information sources. Regulatory frameworks are another cornerstone of promoting responsible consumption in the cryptocurrency space. By implementing transparency guidelines and ethical standards for influencers and content creators, stakeholders can mitigate manipulation and foster trust within the digital ecosystem. By integrating these measures, social media can evolve into a platform that not only supports Bitcoin adoption but also ensures it is guided by responsible consumption principles. Such a transformation is vital to harnessing social media's potential while minimizing the risks posed to individuals and the broader financial community.