While previous studies have investigated the factors influencing Internet adoption, the findings may not be transferable to explain blockchain technology (BCT) adoption, despite its similarities to the Internet. This study addresses this gap by developing an extended technology acceptance model (TAM) to investigate the factors influencing BCT adoption. The model consists of four key factors, including strategic management and social influence at the firm level, and individual innovation and self-efficacy at the individual level. Data were collected from 384 employees at Taiwan Stock Exchange companies, and structural equation modeling was utilized to test the hypotheses. Results reveal that strategic management and social influence at the firm level have a direct impact on BCT adoption, which is indirectly influenced by perceived usefulness. Subsequently, training and support provided by the firm can enhance individual innovation and self-efficacy, which has direct effects on BCT adoption at the individual level and is partially mediated by perceived ease of use.
Dasha Antsipava, Joanna Strycharz, Eva A. van Reijmersdal, Guda van Noort
This study examines factors that encourage and discourage blockchain technology adoption in the online advertising ecosystem from a multi-stakeholder perspective. Nineteen semi-structured interviews were conducted with experts and analysed through the lens of the Interactive Communication Technology Adoption Model (ICTAM) as a guiding framework. The findings reveal that all factors of the ICTAM (system, audience, social, technology, adoption, and use) influence blockchain adoption simultaneously and often in contradictory ways. This study has several contributions. It is among the first to investigate blockchain adoption in online advertising, and from a communication perspective. It extends the application of the ICTAM to a whole ecosystem perspective and identifies which factors are essential for successful blockchain adoption in online advertising. The study concludes that while blockchain technology is a promising solution to challenges afflicting online advertising, more education about blockchain’s potential, favourable regulation, and ready-to-use applications are needed before wide-scale adoption can be realised.
This study aims to identify the dimensions that enable digital marketing organizations to enter the metaverse world by proposing a model for this purpose. The study population targeted Saudi Arabia, having weak or no access to the metaverse, despite their interest in digital transformation. This study uses structural equation Modeling through the partial least squares method using AMOS version. 25. The findings indicate that the proposed model consists of four dimensions: customer discovery, including engagement, interaction, and customer targeting; spatial computing, including augmented reality and virtual stores and places; digital presence, including advertising, social media, and search engines; and virtual integration, including customers’ immersive experiences, product conversion into non-fungible tokens, and virtual incentives and content, providing marketers with the mechanism needed to enter the mysterious metaverse that is ultimately expected to replace the Internet and be the future of marketing.
Purpose To examine the effects of the metaverse on firms’ marketing activities. Design/methodology/approach A conceptual paper. Findings It provides evidence of the growing importance of different value capture mechanisms in the metaverse. Originality/value Among the first articles on this topic.
This study explores the factors influencing the intention to adopt blockchain technology and the alignment between respondents' work characteristics and blockchain technology. It addresses the lack of attention from previous literature on these factors in the context of blockchain adoption, especially amidst the recent blockchain hype. By integrating Task-Technology Fit (TTF) and a modified version of the Unified Theory of Acceptance and Use of Technology (UTAUT), this study employs a questionnaire survey. The results demonstrate that the alignment between blockchain and work characteristics significantly impacts performance expectations and the recognition of opportunities, thereby influencing the intention to adopt blockchain. Furthermore, factors such as effort expectancy, social influence, facilitating conditions, and perceived policy uncertainty influence adoption intention by identifying opportunities. Exposure to blockchain-related knowledge reinforces the relationships mentioned above. Additionally, digital natives display greater confidence in blockchain's potential to enhance work performance than digital immigrants. These study findings offer valuable insights and strategies for blockchain technology providers and provide a comprehensive survey for individuals and professionals interested in embracing or understanding the dynamics of blockchain adoption.
Food safety hazards can be discovered and avoided using XAI and blockchain technology. The immutable and transparent ledger of blockchain technology can be used to maintain track of perishable food items, allowing for more rapid and precise detection of contamination and immediate removal from shelves. Using blockchain technology, smart agriculture can streamline the supply chain by connecting farmers directly with their customers. As a result, community members may be more confident in meeting their own dietary needs. Combining XAI, blockchain, and smart agriculture has far-reaching societal and economic implications. More efficiency, openness, and sustainability in the food chain might benefit farmers, consumers, and the world. This study provides a detailed bibliometric overview and visualization of integrating two prominent and promising technologies, explainable AI and Blockchain, into Smart Agriculture. In this study, the author implemented analysis in four phases, and for each phase, the author chose different strings, which provided different analysis results. 2479 articles are taken for “smart agriculture”, 103 articles for “Smart agriculture and blockchain”, 37 articles for “blockchain and explainable,” and finally, seven articles for “smart agriculture and explainable AI”. In this study, the mapping program VOSviewer is used for Network analysis. This study uses the co-occurrence, co-citation, and bibliographic coupling employed in VOSviewer to uncover significant focus areas and prominent authors and publications. By using a variety of publications, research was conducted on vital topics for this integration; as a consequence, influence and collaborations began to take place, ultimately leading to development.
Open access
Digitalization and Economic Development in Agriculture
Duran CANKÜL, Kevser Çınar, Mustafa Çağatay KIZILTAŞ, Işıl Cankül
With the developments in technology, it has started to be used as an additional payment method in businesses due to the emergence and increasing popularity of cryptocurrencies. This study was aimed to measure the factors that affect the customers' intention to use cryptocurrency technology as a payment method in restaurants, by examining the four dimensions of mindfulness and the positive valences and the negative valences of the valence theory. In this context, an online survey was applied to 405 cryptocurrency users to collect data. Confirmatory factor analysis (CFA) was used to verify the measurement model, and the structural equation model (SEM) was used to test the model. The findings of the study reveal that the participants think that the convenience of using this method has no effect on the intention to use it, that using this method is beneficial, not risky, and that they will not have any privacy concerns if they use this method. This study offers valuable practical implications for restaurant operators in the context of cryptocurrency payment systems. This study successfully extended valence theory by adding awareness to valence theory.
Abstract Despite the extensive interest in cryptocurrencies over the past years, their application as a means of payment in e‐commerce and retail purchases continues to be much slower than anticipated. This paper investigates the underlying mechanisms and elements that drive consumer resistance in this space. Drawing upon the stimulus‐organism‐response paradigm and the innovation resistance theory, the paper explores how the characteristics of the current cryptocurrency landscape contribute to different factors associated with crypto‐payment rejection. Our findings from empirical and experimental studies reveal how ecosystem volatility and the lack of structural assurances for cryptocurrencies foster negative consumer perceptions, leading to resistance against crypto‐payment use. The paper develops new insights into the main predictors of consumer resistance to crypto‐payment, which is a precursor to the mainstream use of cryptocurrencies. Moreover, it sheds light on the interactions among context‐specific, psychological, and functional determinants of behavioral consumer response.
This research paper contains information on Blockchain technology based social media. Blockchain is revolutionizing the way social media platforms operate, offering new opportunities for user empowerment data privacy, and content ownership. Block chain-based social media platforms leverage distributed ledger technology to enhance security, transparency, and decentralization. User gain greater control over their personal data and content, reducing the influence of centralized entities.
Dirk Draheim, Ahto Buldas, Mike Gault, Märt Saarepera
The Web3 vision takes blockchain disintermediation to a next level by making it ubiquitous, encompassing not only payments and financial services but also digital identities, data and business models. Recently, Web3 has gained massive attention by major analysts such as Gartner, Forrester, Forbes Technology Council and the Harvard Business Review. Albeit the current enthusiasm about Web3, we are lost in a state of confusion about what Web3 actually is - or could be. The purpose of this paper is to mitigate the gap between the perceived usefulness of Web3 and its potential implementation. We take a descriptive design science approach. We provide informed arguments for a potential foundation of Web3 in terms of fundamental components, architectural principles and a Web3 design space. We demonstrate the usefulness of the provided Web3 foundation by describing Alphabill, a platform that allows for universal asset tokenization and transfer as a global medium of exchange. The findings of this research enable policy makers, decision makers and information systems architects alike to make informed decisions about Web3 and its potential implementation as follows: (i) The Web3 can be characterized as the integration of digital rights exchange into the (application layer) internet protocols. (ii) The Web3 has the potential to revolutionize today's information systems's landscape by turning today's information systems into deeply standardized views on a huge, single underlying information structure. The killer application of a well-founded Web3 is the Web3 itself -- being the currently missing backbone (value-added middleware) for all of today's and future enterprise applications and business-to-business communication. (iii) The scenario-based evaluation of the provided Web3 foundation reveals the described Alphabill platform as a Web3 enabling technology.
Qingyu Zhang, Salman Khan, Salman Khan, Safeer Ullah Khan · 6 authors
This paper aims to investigate the behavioral intention to adopt blockchain technology (BC) in Pakistan’s operation and supply chain management. A conceptual framework is developed by extending the unified theory of acceptance and use of technology (UTAUT) model, incorporating technology readiness, technology affinity, and trust. The model was empirically examined using 198 responses from an online survey directed by a Pakistan operation and supply chain professionals. The proposed model is tested using Smart PLS. The empirical results suggest that BC adoption is positively influenced by facilitating condition, social influence, effort expectancy, technology readiness, and technology affinity, while performance expectancy and trust negatively influence BC to adopt. This research contributes to the advancement and stimulation of blockchain technology acceptance behavior in supply chains and significant managerial implications that could be more meaningful for developing economies.
Bitcoin, a well-known cryptocurrency, has attracted much attention worldwide and is becoming more widely used. This study develops a hypothesis to investigate and test the impact of Bitcoin on E-Commerce use in Saudi Arabia using a survey research approach. Analyzing factors such as Bitcoin awareness and usage among Saudi Arabian consumers can increase online transactions, increase payment efficiency, a larger degree of financial inclusion, and a higher level of trust and security. The online-based survey was used to collect responses, and descriptive-analytical and standard results. Assessment criteria approaches were implemented to interpret the results. Responses were collected from individuals and employees of various companies working in different occupations in Saudi Arabia. In addition, statistical tools SPSS and SmartPLS were used to test the study’s hypotheses. The findings indicated a rapid growth in e-commerce transactions and some knowledge of Bitcoin. Also, it shows a positive correlation between digital currencies (Bitcoin) and e-commerce in Saudi Arabia. The study’s conclusions are expected to be valuable for those involved in Saudi Arabia’s e-commerce sector, helping them to decide how to adopt and use Bitcoin in their digital business strategy. The study also opens the way for future investigations into topics including Saudi Arabia’s regulations for Bitcoin, consumer attitudes toward Bitcoin, and the potential of blockchain technology for enhancing the nation's e-commerce processes.
In recent years, investing in cryptocurrencies has become a fad worldwide. However, fewer studies have explored the intention of using cryptocurrencies. Different from traditional financial commodities, cryptocurrencies have a unique appeal. Therefore, this study uses technology mindfulness, technology readiness, and financial literacy, and through perceived trust and perceived risk, to understand users’ intentions to use cryptocurrencies. The respondents to this study were cryptocurrency owners or those having financial investment experience. A total of 337 valid samples were obtained and analyzed by the partial least square-structural equation model (PLS-SEM) method. The results showed that technology mindfulness and negative technology readiness significantly impacted perceived trust and perceived risk. On the other hand, perceived trust and perceived risk significantly impacted the intention to use. Finally, this study proposes theoretical and practical implications which can help cryptocurrency trading platforms understand the motivations of potential and existing users. Finally, this study can also serve as a reference for cryptocurrency trading service providers to develop marketing strategies.
Valerio Stallone, Martin Wetzels, Dominik Mahr, Michael Klaas
The increasing popularity of blockchain technology (BCT) has spurred interest in its potential to rejuvenate the digital advertising ecosystem. Due to its transparency, decentralization, and immutability, BCT offers the potential for customer-oriented, secure, and open platforms that might improve interactions between consumers and businesses. This article investigates applications of BCT in digital advertising and develops an integrative framework to classify innovations at this intersection. With a systematic literature review and Delphi study, the authors examine ten relevant use cases and compile qualitative and quantitative data on the expected probability of realization, expected impact on the industry, desirability of occurrence, and market establishment duration. The results reveal organizational activity theory–informed areas of innovation and provide useful insights for managers, researchers, and policy makers. Managers should focus on contextual innovations such as rewarding web users for web interactions, rewarding content creators for their contributions, and ensuring user data security as the most relevant potential applications. Boundary innovations require a better understanding before deploying solutions aimed at increasing advertising supply chain transparency, mitigating fraud, and verifying content. For domain-based innovation areas, researchers must rethink their foundations. Finally, the authors propose a detailed research agenda.
This study innovatively intertwines technology adoption and e-learning by integrating blockchain and AI, offering a novel perspective on how cutting-edge technologies revolutionize learning processes. The present study investigates the factors that influence the behavioral use of learners to use blockchain and artificial intelligence (AI) in e-learning. The study proposes the integrated model of Technology Acceptance Model (TAM) and Information System (IS) success Model that include perceived usefulness, perceived ease of use, system quality, information quality, and service quality as antecedents to behavioral use of blockchain and AI in e-learning. The model also examines the moderating effect of learner self-efficacy on the relationship between behavioral use and e-learning engagement and performance. The study collected data from 322 respondents and analyzed the data using partial least squares structural equation modeling (PLS-SEM) with a bootstrapping technique. The results show that the factors of TAM model and IS model have the significant and positive effects on behavior to use blockchain and AI in e-learning. Additionally, learner self-efficacy has a significant positive effect on e-learning engagement and performance, but it does not moderate the relationship between behavior to use blockchain or AI and e-learning engagement and performance. Overall, the study provides insights into the factors that influence the adoption of blockchain and AI in e-learning and offers practical implications for educators and policymakers.
Cryptocurrencies have become a popular discussion in the global economy as an increasing number of people adopt these despites their recent conception. As a result, governments worldwide are racing to incorporate assets into their legal frameworks. While Sri Lanka does not have a legal framework for such assets, there is a growing base for cryptocurrency investors in the country. This study analyzes the antecedents that drive Sri Lankan investors towards cryptocurrency investments and the influence of commonly known behavioral biases among these investors to examine the validity of behavioral finance theories in cryptocurrency markets. A structured questionnaire was distributed on social media platforms, which yielded 158 responses. Descriptive analysis was used to evaluate the demographic characteristics of the respondents, and PLS-SEM was used to examine the path model analysis of associations among the study variables. The findings suggest that the majority of respondents are males under 35 years of age with high educational qualifications, and that technical, economic, social, and personal factors are their main adoption motivators. The analysis of behavioral biases suggests that heuristic-driven and frame-dependent biases influence cryptocurrency adoption decisions. As a highly discussed topic in today’s world, there is a lack of studies focusing on the adoption motivators and behavioral biases of cryptocurrency investors. These findings provide valuable insights and enrich the existing knowledge in the domain of cryptocurrency, as this study is a pioneering endeavor focusing on behavioral biases in cryptocurrency markets.
Vandana Kumari, Pradip Kumar Bala, Shibashish Chakraborty
The study aims to investigate how an individual’s technology awareness, subjective financial literacy and personal innovativeness characteristics impact the intention to use blockchain-based digital currencies such as cryptocurrency. The UTAUT 2 (Unified Theory of Acceptance and Use of Technology 2) model is extended with crucial constructs to develop the conceptual model. A total of 312 responses are analysed using Covariance-Based Structural Equation Modelling (CB-SEM). The moderation effects are assessed using multi-group analysis. The findings show a significant moderating effect of technology awareness and subjective financial literacy on the relationship between performance expectancy (PE) and behavioural intention to use cryptocurrency (BI). It further identified that performance expectancy (PE) mediates personal innovativeness (PI) and usage intentions (BI). The study adds to the growing literature of digital currency adoption by focusing on individual innovativeness, technology awareness and financial literacy. It also proposes a research model that can be generalised for new-age consumer-based financial technology adoption.
Cryptocurrency is receiving widespread acceptance in the international market. Unfortunately, little attention is focused on the full identification of the cryptocurrency adoption factors, especially when it comes to emerging nations like Saudi Arabia. The current investigation is aimed at investigating whether the use of dual structural equation modelling and artificial neural network (SEM-ANN) would permit a better comprehension of the determinants of cryptocurrency adoption than the single-step PLS-SEM technique and explore the predictors of cryptocurrency adoption. An extended unified theory of acceptance and use of technology (UTAUT) model was used. A sample of 344 responses from Saudi Arabian students at public universities was used to verify the model. Unlike the majority of existing studies that were based on a single-step PLS-SEM approach, this investigation employed a superior statistical approach, the dual SEM-ANN approach, considered a unique methodological approach that can recognise variables’ connections that are both linear and nonlinear and predict relationships with higher accuracy. Moreover, the dual SEM-ANN analysis revealed security as the most important factor influencing whether users would accept cryptocurrency, followed by effort expectancy and awareness. The application of the dual SEM-ANN technique and the extension of the UTAUT model with security and awareness constructs have enhanced the existing technology adoption literature. Additionally, methodological, theoretical, and practical contributions were offered by this study.
William Davin D. Perez, Yogi Tri Prasetyo, Maela Madel L. Cahigas, Satria Fadil Persada · 6 authors
The prominent form of Non-Fungible Token (NFT) is found in the gaming industry. NFT games received immense attention during the COVID-19 pandemic because of their play-to-earn model. NFT gamers can enjoy and increase their finances in their spare time. Hence, the researchers utilized Structural Equation Modeling (SEM) to investigate the intention and immersive behaviors of 1082 respondents. The modified framework from the Theory of Planned Behavior (TPB) and Hedonic Motivation System Adoption Model (HMSAM) underwent SEM tests. These theories and methods were used to analyze relationships among hypotheses and assess factors influencing NFT game engagement. The results showed that hedonic motivation produced positive and significant influences on perceived usefulness, curiosity, joy, attitude, subjective norms, and perceived behavioral control. Subjective norms significantly influenced perceived ease of use. In due course, perceived ease of use yielded positive and significant effects on perceived usefulness, joy, attitude, and perceived behavioral control. Moreover, perceived usefulness, curiosity, joy, attitude, and perceived behavioral control had significant positive effects on behavioral intention. In addition, perceived usefulness, curiosity, joy, and attitude significantly and positively affected immersion. Meanwhile, only four hypotheses were not supported by the study. These findings were translated into theoretical and managerial implications to contribute to the academe given the strong the change of behavior of users towards NFT games during the pandemic; gaming industry since they will be able to develop, improve and create a new ecosystem in the gaming space, and NFT stakeholders since they will benefit from the development that will influence this study.
This study is based on the Expectation Confirmation Model and the Information System Success Model to evaluate the influence of perceived usefulness and satisfaction towards online cryptocurrency exchanges. Therefore, this study deconstructs the “confirmation” component of the information system continuous use model into three different components: confirmation of information quality, confirmation of system quality, and confirmation of service quality, to investigate the factors that influence the desire to use online cryptocurrency exchanges continuously. This research used a questionnaire methodology, with data collected from 248 users of cryptocurrency platforms. This study found that perceived usefulness and satisfaction significantly correlated with continuance intention. Furthermore, information quality, system quality, and service quality significantly correlated with perceived usefulness and satisfaction. Finally, perceived usefulness was found to be significantly correlated with satisfaction.
Abstract This research investigates the extent to which sponsorships can be utilised to foster trust and reduce barriers to adopting new technologies. Using Crypto.com's sponsorship of the 2022 FIFA World Cup as the context, this mixed‐methods study utilises innovation resistance theory (IRT) and trust transfer theory (TTT) to investigate the extent to which such a sponsorship can increase trust and reduce barriers in innovative technologies such as cryptoassets, while also filling a research gap concerning consumer resistance to innovations in digital financial products and services. The findings of study 1, using a survey ( n = 1081), and study 2 using interviews ( n = 24) reveal that a positive image of sponsorship significantly influences favourability and interest, and trust of the product of the sponsor which subsequently reduces psychological barriers to adoption. Integrating the theoretical viewpoints of IRT and TTT, this study enhances our conceptual understanding regarding the psychological dimension of sponsorship and the extent to which a sponsorship generates interest, giving assurance and trust in the sponsor's product, and removing uncertainty; thus, reducing barriers to adoption.
Open access
Digital Marketing and Social Media
Technology Adoption and User Behaviour
Consumer Behavior in Brand Consumption and Identification
The technology of Blockchain may open up new potential for innovation and distinction. It can enable the software sector to develop more safe and transparent systems that can function in an environment without trust. The adoption rate still needs to be higher despite the potential advantages; the relatively low adoption rate may be attributable to issues such as a lack of awareness, the difficulty of adoption, and ambiguity surrounding legal and regulatory frameworks. Considering technical, organizational, and environmental aspects, this study aims to determine the primary factors impacting the readiness of software firms to adopt Blockchain technology. The research on adopting Blockchain technology in the Malaysian software sector is limited. Using a quantitative method, the researchers used structural equation modeling to analyze 251 survey responses from the Malaysian software sector. In light of the findings, eight hypotheses were considered significant, and one hypothesis was rejected. At the same time, the R2 indicated that all these variables explained 71% of the dependent variable’s variance, which is considered substantial. Overall, it makes it easier for firms in the software sector to use Blockchain technology, which would increase the overall competitiveness of Malaysia’s software sector in the international market.
Blockchain technology has the potential to completely transform the hospitality sector by offering a safe, open, and effective method of payment. Increased customer utilisation efficiency may result from this. This study looks into how blockchain payment methods affect hotel customers’ intentions to stay loyal by devising four hypotheses. A questionnaire was specifically created and self-administered for this study as a data-gathering tool and distributed to hotel customers. The I.B.M. SPSS and Amos software packages were used to analyse the data of the 301 valid responses. Findings show that hospitality customers may use blockchain payment services if the customer is satisfied with the data security of this payment system. The study also highlighted that customer data security mediated the association between utilisation efficiency and blockchain payment systems. Blockchain payment services can affect visitors’ intentions to stay loyal by impacting data security and consumer happiness. Results suggest that blockchain payment systems can be useful for hospitality firms looking to increase client utilisation efficiency. Blockchain can simplify visitor booking and payment processes by providing a safe, open, and effective transacting method. This may result in a satisfying encounter that visitors are more inclined to recall and repeat.
Abdou Illia, Assion Lawson‐Body, Simon Lee, Gurkan Akalin
Cryptocurrencies have become a global phenomenon, and the number of registered users of cryptocurrency exchange platforms has grown worldwide. However, only a small number of the registered users are active users that engage in actual transactions. In this study, the authors used a multi-theory approach to identify the key factors of the adoption of cryptocurrency exchanges and to develop a conceptual model that would have a potentially high explanatory power. The proposed model emphasizes the role of psychological innovation resistance, functional innovation resistance, technology readiness and trust, perceived risk and risk propensity, subjective norms, and critical mass of users. The authors discuss the model along with the research propositions it implies and the theoretical and practical implications of the study.