Yavuz Selim KÄąyak, IĹÄąl Ä°rem BudakoÄlu, Ăzlem ĂoĹkun
<b>Aim:</b> We aimed to reveal awareness of distributed ledger technologies (DLTs) among clinical year students (fourth, fifth, and sixth years in undergraduate medical training) in a medical school. <br><b>Methods:</b> This was a descriptive study. The participants were clinical year medical students in a medical school. We developed an electronic survey form on blockchain, Holochain, and other DLTs. Self-perceived knowledge levels on DLTs and Web3 were solicited, as well as DLT-based cryptocurrency-related questions to understand their practical involvement. This approach was taken because, while DLTs are used in healthcare and education, their most common application is in cryptocurrencies. We reported descriptive statistics. <br><b>Results:</b> Total number of participants was 546. Of the students, 74.7% have never heard of blockchain, and 86.3% have never heard of Holochain. DLTs such as DAG (Directed Acyclic Graph), Hashgraph, and Tempo have never been heard of by over 90% of the students. 75.3% stated they are worried about the security and privacy of their data on the internet. 20.3% of the students stated that they have purchased a cryptocurrency at least once, 7.9% used a cryptocurrency wallet where they hold its private key, and 6.8% used a decentralized exchange. If there were an elective course on DLTs in the faculty, 54.8% of the students would be willing to take this course. <br><b>Conclusions:</b> DLT and Web3 awareness among medical students is low. However, there is an interest in taking an elective course on these technologies. In order to create awareness, medical schools could leverage this interest to learn more about Web3 solutions.
This study evaluates the factors influencing financial stability (FS) and behavioral intention (BI) in a cryptocurrency exchange app, explicitly focusing on system quality (SQ), perceived trust (PT), and digital currency (DC) within the Indonesian context. Utilizing structural equation modeling (SEM) with SmartPLS, the research analyzed data from 345 respondents who are active users of the cryptocurrency exchange app. The results confirmed that SQ significantly enhances PT (β = 0.832, t = 27.216, p < 0.001) and BI (β = 0.718, t = 12.675, p < 0.001). Additionally, DC positively impacts FS (β = 0.578, t = 8.177, p < 0.001), while PT influences both FS (β = 0.391, t = 5.478, p < 0.001) and BI (β = 0.198, t = 3.490, p = 0.001). These findings validate all five proposed hypotheses, highlighting the critical role of SQ and PT in driving FS and user engagement in cryptocurrency exchange apps. The study's measurement model demonstrated good reliability and validity, with Cronbach's alpha values exceeding 0.7 for all constructs: SQ (0.891), PT (0.812), DC (0.767), FS (0.819), and BI (0.745). Composite reliability values were also high, ranging from 0.855 to 0.933. Average Variance Extracted (AVE) values indicated good convergent validity, with SQ (0.822), PT (0.727), DC (0.689), FS (0.743), and BI (0.663). Discriminant validity was confirmed using the Fornell-Larcker criterion. The structural model's fit indices, including an SRMR of 0.045 and an NFI of 0.914, demonstrated a good model fit. The R² values for BI (0.791), FS (0.873), and PT (0.693) indicated substantial explanatory power. Despite its contributions, this study has limitations, including its focus on a single cryptocurrency exchange app in Indonesia, which may affect the generalizability of the findings. Future research should expand the sample to include multiple apps and geographical contexts. Additionally, incorporating other relevant factors, such as user experience and regulatory compliance, could provide a more comprehensive understanding of FS in digital financial services. This research underscores the importance of SQ and PT in achieving long-term success and sustainability in the rapidly evolving digital finance landscape.
Purpose This research aims to review the integration of blockchain in accounting issues by identifying patterns and areas of research and outlining a roadmap for future investigations.Motivation Although anecdotal evidence indicates a rising investment in blockchain technology, there is currently a lack of systematic literature reviews assessing its implications in accounting issues. While blockchain holds significant potential, the challenges and opportunities associated with its integration into financial reporting warrant further investigation.Design/Methodology/Approach From 2017 to 2023, a systematic literature review in the accounting, business, and management journals from the Scopus Database identified 77 articles on blockchain and accounting.Main findings Increasing the quality of information using blockchain positively impacts governance, accountability, supply chain, innovation, shareholder value, and sustainability reporting. However, stakeholders' high expectations of these benefits, coupled with a minimal understanding of blockchain and the need for accounting regulations or standards governing blockchain adoption, may reduce the reliability and relevance of information derived from blockchain adoption, potentially leading to opportunistic behaviour.Practical implications Organizations must manage risks amidst high expectations(hype) surrounding the adoption of this technology. Further research into earnings management â whether opportunistic or beneficial â and its impact on non-profits and SMEs could yield valuable insights.Novelty/Contribution Provides a comprehensive overview of current accounting research on blockchain technology through a hybrid approach.
Zhang Ying, M. Mahdi Tavalaei, Glenn Parry, Peng Zhou
To understand the slow adoption of blockchain technology by organisations, we conduct a systematic literature review of adoption factors using a mixed-methods approach. Using thematic analysis, 880 factors are identified and grouped into 29 themes, which offer a comprehensive overview of the literature. Using statistical analysis, the identified factors are dissected into technological (T), organisational (O), and environmental (E) dimensions (the TOE framework). Themes are further classified as barriers (B), enablers (En), and ambiguous (A) to describe a firm's readiness for blockchain adoption (the BEnA framework). We emphasise the multidimensionality of adoption factors across the TOE dimensions and the conditionality of adoption enablers across the BEnA dimensions. Analysis of research trends shows that recent blockchain adoption literature has focused on elaborating upon existing research themes (involution) rather than on developing new themes (evolution). Based on our analyses, we propose future research directions, including scrutinising the interdependence and multidimensionality of blockchain adoption factors, further examining factors with conditional or unclear effects on adoption, and broadening the contextual, temporal, and theoretical aspects of blockchain adoption research. ⢠Identified 880 factors and 29 themes of blockchain adoption by organisations. ⢠Developed multidimensional theoretical frameworks to analyse factors and themes. ⢠Adoption barriers are mostly unambiguous, while enablers are often conditional. ⢠Recent research on blockchain is mainly an involution rather than an evolution.
Cheuk Hang Au, Kevin K.W. Ho, Kris M. Y. Law, Dickson K.W. Chiu
Abstract The proliferation of cryptocurrencies has contributed to the emergence of different cryptocurrency exchanges (crypto-exchanges). While these services may be regarded as FinTech, involving cryptocurrency as the major transaction currency has made these services potentially distinctive from other fiat-based FinTech services. Thus, the critical success factors of crypto-exchanges may not be identical to those of other fiat-based FinTech services. Grounded on theories related to FinTech and service varieties, we developed a survey and explored the role of different factors on usersâ continuous intention of adopting the crypto-exchanges. Our results suggested that when users perceive specific crypto-exchange characteristics, they are more likely to adopt the exchange continuously. Combining previous literature, we name this set of factors âLAS-VICT principleâ, including low user-burden, asset-light, scalability, variety, innovativeness, scalability, and transparency. However, usersâ emphasis on factors may differ based on their cryptocurrency experience. Based on our findings, we provided some theoretical and practical implications.
Blockchain, as we have seen, was first only a foundation for cryptocurrencies, but ten years later, a new rapidly growing technology has been widely used in multiple businesses. In a more significant number of years, most of the technologies in Blockchain can be used worldwide to authoritatively enhance online transactions. Crowdfunding is one of the integrating disciplines for blockchain technologies. Today, people worldwide are experiencing the most common problem with crowdfunding i.e. the lack of regulation over the campaigns-people get scammed. Many other projects also took an incredibly long time to finish.This project aims to address these problems by preventing fraud and ensuring that projects may be finished within the allocated time by integrating Ethereum smart contracts in crowdfunding.
Anas Ali Al-Qudah, Manaf AlâOkaily, Miklesh Prasad Yadav
Purpose The purpose of this study is to investigate the continuous intention to use blockchain and FinTech innovations, focusing on the direct impact of user trust and perceived risks. It seeks to test how information technology (IT) quality directly affects user-perceived risk and trust and to identify how IT quality can influence FinTech continuance intentions. By examining these relationships, the study provides insights into how improvements in IT quality can mitigate perceived risks and enhance user trust, ultimately fostering sustained use of FinTech and blockchain technologies. Design/methodology/approach To achieve the purpose of this study, the model and hypotheses were examined based on the partial least squares structural equation modeling (PLS-SEM). Findings Results revealed that perceived risk is negatively impacted by system quality, while trust is positively impacted by information quality, and the most significant result in the study is continuous-use intention and uncertainty both are impacted by service quality. Also, the study used some control variables, and two of them (i.e. FinTech type and education) showed a positive significant relationship with continuance-use intention. Practical implications This study identifies several causal relationships between the continuance-use intention of blockchain and FinTech innovations and various factors, which can provide valuable insights for managers, enabling them to formulate appropriate strategies to foster sustainable growth in FinTech and blockchain. By leveraging these findings, managers can enhance IT quality, reduce perceived risks and build user trust, thereby promoting the ongoing adoption and success of blockchain and FinTech innovations. Originality/value The outcomes obtained will help both FinTech providers and researchers elucidate and understand the situation of usersâ concerns about the unexpected risks/uncertainty in FinTech transactions can be mitigated through providing a high level of quality IT service and systems. Two main strategies can be merged to be used by FinTech providers/managers, first: trust building, second: risk-mitigating, both strategies can be used in the light of IT innovation and its aspects to meet the sustainable growth of FinTech.
In response to the call for research on cryptocurrency consumer adoption behaviour, a targeted literature review (TLR) was undertaken. Different from previous literature reviews, this chapter introduces a conceptual framework for understanding cryptocurrency consumer behaviour, comprising four primary themes and eight key insights. Specifically, the TLR highlights pivotal factors driving cryptocurrency adoption (i.e. ownership), identifies problematic and non-problematic behaviours among cryptocurrency adopters, and considers potential individual and cryptocurrency-related moderating factors. Theoretical and practical implications are discussed, and future research questions are proposed based on these findings.
Soraya GonzĂĄlez-Mendes, RocĂo GonzĂĄlez SĂĄnchez, Carlos J. Costa, Fernando E. GarcĂaâMuiĂąa
The adoption of blockchain technology is gaining trends, leading to the need for investigations into the reasons that persuade the intention to adopt it by companies. However, empirical studies in the tourism industry are still scarce. This investigation aims to design a new adoption model that combines Human-Organisation-Technology-Fit (HOT-fit), Technology-Organisation-Environment (TOE) and sustainability dimensions. The model is validated using new empirical evidence in a relatively understudied geographic context, with a sample of 210 Portuguese tourism companies. The information was examined utilising Partial Least Squares Structural Equation Modelling (PLS-SEM). The outcomes indicate that reasons such as sustainability and competition intensity significantly impact the objective to adopt blockchain. The work provides practical implications for businesses, governments and society. Additionally, this paper offers a pioneering study of blockchain adoption by tourism companies in Portugal, which may help future researchers extend their study of this field to other sectors and regions.
Purpose This study aims to empirically examine and analyze the factors that influence the adoption of blockchain technology, particularly within small and medium-sized enterprises (SMEs). The study also predicts how adopting blockchain technology may affect SMEsâ market and financial performance. Design/methodology/approach The research is grounded in the theoretical frameworks of the âtechnologyâorganizationâenvironment (TOE) frameworkâ and the âresource-based view (RBV)â perspective. The researchers collected 407 responses from a survey conducted on SMEs in India. The statistical package for social science, followed by the âpartial least square structural equation modeling (PLS-SEM)â technique, was applied for the data analysis. Findings This paper offered a robust research framework for blockchain technology adoption in which one of the two proposed technological factors (relative advantage), one organizational factor (top management support) and two environmental factors (competitive pressure and market dynamics) significantly influence blockchain technology adoption. Similarly, there is a substantial association between blockchain technology adoption and both market and financial performance. More specifically, the complexity and perceived investment cost have been recognized as barriers to SMEs adopting blockchain technology. Research limitations/implications The primary focus of this research lies in examining the adoption of blockchain technology among SMEs in India. Consequently, there exists an opportunity to broaden the scope of this study to include various other countries. Such an expansion holds the potential to yield more precise and comprehensive results, enabling a comparative analysis across diverse international contexts. Practical implications The outcomes have practical significance for SMEs as they navigate their strategies for adopting blockchain technology. Moreover, policymakers and practitioners can use these findings to enact specific measures targeting barriers, fostering the adoption of blockchain in Indian SMEs and creating a more supportive environment for technological integration and growth. Originality/value This study introduces a novel theoretical framework focusing on the impact of blockchain adoption on SMEs. Its distinctive contribution lies in investigating the mediating role of blockchain adoption in the relationship between market and financial performance, specifically within emerging economies. By addressing this gap, the study enhances the understanding of how blockchain adoption shapes SME performance in evolving economic landscapes.
Shipra Chhina, Mehmood Chadhar, Sally Firmin, Arthur Tatnall
Blockchain technology has garnered substantial interest due to its capacity to transform numerous industries by amplifying transparency and bolstering security measures. Despite the increasing interest, there is a void in existing literature regarding the alignment of actors with the diffusion of innovation principles in the context of blockchain adoption. This gap restricts comprehension of the factors influencing adoption. This research addressed this void by investigating how actors align with the diffusion of innovation principles in making decisions about blockchain adoption. Diffusion of innovation model was combined with the innovation translation concept derived from Actor-Network Theory to explore these complex dynamics in more detail. The results indicate that the decision-making process for blockchain adoption corresponds to knowledge, persuasion, and decision stages, mirroring the phases found in the innovation translation approach. This research offers theoretical insights and practical knowledge that can be beneficial to individuals and organisations looking to promote a successful implementation of blockchain technology.
Abstract Blockchain-based cryptocurrencies have garnered significant attention from academic and industry. However, systematic studies on cryptocurrency usage patterns and adoption across contexts are limited. Identifying factors and developing predictive models for cryptocurrency adoption remains challenging. This article conducts a systematic review with qualitative and quantitative (mixed) syntheses on the adoption of blockchain-based cryptocurrencies, adhering to PRISMA guidelines. From 579 initial articles, 124 were selected and classified into review-based, exploratory-based, and empirical-based categories. Exploratory articles examined global awareness and ownership of cryptocurrencies. Empirical articles were categorized into general, payment method, investment tool, transfer medium, and other contexts. The review reveals higher awareness and ownership of cryptocurrencies among young, educated males with proficient computer skills in both developed and developing nations. The Technology Acceptance Model (TAM) and its variants are the most frequently used in the surveyed articles. Key factors like Perceived Ease of Use (PEoU), Perceived Usefulness (PU), and Perceived Trust were extensively studied. Studies on payment methods mainly focused on the customer perspective, with limited attention to the service provider perspective. As an investment tool, factors like social influence, PU, financial literacy, facilitating conditions, and perceived risk were significant. For cryptocurrencies as a transfer medium, security and risk perceptions, performance and effort expectancy, and social influence were crucial. In other contexts, trialability, transparency, and cost efficiency drove adoption, with trust and usability being vital for cryptocurrency wallet usage. Additionally, the article proposes an integrative model combining TAM with technical, economic, personal, and environmental factors. The findings from this systematic review will guide future research in developing more comprehensive models for predicting the adopting of cryptocurrencies across various contexts.
Rajasshrie Pillai, Raman Preet, Brijesh Sivathanu, Nripendra P. Rana
Purpose The emergence of cryptocurrency has developed a new payment system that is changing how financial transactions happen in hospitality. Consumers/travelers have started experimenting with cryptocurrency payments in hotels and restaurants. However, extant research is lacking in understanding the consumer adoption intention of cryptocurrency payments. This study investigates the intention to use cryptocurrency payments in the hospitality industry. Design/methodology/approach The conceptual model in this study is based on the Behavioral Reasoning Theory, and it explores the motivating and deterring factors influencing the adoption of cryptocurrency payments in the hospitality industry. A quantitative survey was conducted among 1,080 consumers to examine and confirm the model, with data being analyzed through the Partial Least Squares Structural Equation Modeling (PLS-SEM) method. Findings The outcome of this work showed that the âreasons forâ positively influence and âreasons againstâ negatively influence consumersâ attitudes and use intentions. Consumersâ values of openness to change positively influence the âreasons forâ and do not influence the âreasons againstâ and attitude toward the use of cryptocurrency payments. Practical implications This work contributes to practice by providing insights to customers (users/payee), hospitality managers (investors) and organizations/firms (receiving crypto payments) as well as to financial firms and the government. Originality/value This research contributes to cryptocurrency payment adoption and behavioral finance literature. The research uniquely provides the adoption and inhibiting factors for cryptocurrency payment in an integrated framework in the hospitality sector.
Background in todayâs digital age, the Web2 centralized model still dominates, presenting significant access, control, and innovation challenges. Web3, with its decentralized principles built on blockchain technology, offers a method to transition to a more open and innovative system, reducing dependence on large service providers and giving greater control to users. The objective of this research is to explore the impact of Web3 on digital industries, focusing on the financial sector through Decentralized Finance (DeFi), digital asset markets through Non-Fungible Tokens (NFTs), and the gaming industry. Using a qualitative method involving an extensive literature review, phenomenological analysis of current data, and in-depth interviews with Web3 industry experts, the results reveal that Web3 adoption significantly impacts the digital industry by improving operations and security, facilitating innovation, and expanding access and capabilities in the global market. The main conclusion of this research is that it provides valuable insights into the impact of Web3 technologies on the digital industry and suggests policy formation to support the expansion of these technologies for a more inclusive digital future.
Blockchain technology has promising benefits and provides robust solutions for managing business processes. While prior studies have primarily explored its potential in supporting logistics and supply chain management, many practitioners still lack a clear understanding of how to leverage blockchain technology, hindering its adoption within the industry. Bridging this gap and addressing critical barriers requires further empirical research. This study adopts a comprehensive approach, identifying potential barriers through a literature review and validating their significance through the Index of Item-Objective Congruence (IOC). The study then delves into the interrelationships among the significant barriers, utilising Interpretive Structural Modelling (ISM) and MICMAC methods. The results highlight seven significant barriers within the logistics sector, encompassing a lack of government support, operational standards, top management support, limited public awareness, trust issues, technical challenges, and network collaboration difficulties. Notably, the lack of public awareness and inadequate governmental support form fundamental obstacles that drive various challenges. This research offers insights into the barriers that hinder the successful adoption of blockchain technology in logistics, proposing several mitigation strategies that are in line with the principles of open innovation.
This paper explores the factors that facilitate and impede blockchain technology adoption (BTA) within business organizations. Analysing 112 scholarly articles via thematic and bibliometric methods reveals a complex adoption landscape, highlighted by the proposition of an innovative conceptual framework that augments the conventional technology-organization-environment (TOE) framework. This augmented framework integrates enabling factors, such as enhanced security mechanisms via smart contracts, and barriers, including scalability challenges and regulatory limitations. The research offers significant insights into cultivating a conducive ecosystem for BTA within organizations and provides practical implications.
Asad Ullah Khan, Saeed Ullah Jan, Muhammad Naeem Khan, Fazeelat Aziz ¡ 8 authors
Purpose Blockchain, a groundbreaking technology that recently surfaced, is under thorough scrutiny due to its prospective utility across different sectors. This research aims to delve into and assess the cognitive elements that impact the integration of blockchain technology (BT) within library environments. Design/methodology/approach Utilizing the StimulusâOrganismâResponse (SOR) theory, this research aims to facilitate the implementation of BT within academic institution libraries and provide valuable insights for managerial decision-making. A two-staged deep learning structural equation modelling artificial neural network (ANN) analysis was conducted on 583 computer experts affiliated with academic institutions across various countries to gather relevant information. Findings The research model can correspondingly expound 71% and 60% of the variance in trust and adoption intention of BT in libraries, where ANN results indicate that perceived possession is the primary predictor, with a technical capability factor that has a normalized significance of 84%. The study successfully identified the relationship of each variable of our conceptual model. Originality/value Unlike the SOR theory framework that uses a linear model and theoretically assumes that all relationships are significant, to the best of the authorsâ knowledge, it is the first study to validate ANN and SEM in a library context successfully. The results of the two-step PLSâSEM and ANN technique demonstrate that the usage of ANN validates the PLSâSEM analysis. ANN can represent complicated linear and nonlinear connections with higher prediction accuracy than SEM approaches. Also, an importance-performance Map analysis of the PLSâSEM data offers a more detailed insight into each factor's significance and performance.
The emergence of non-fungible tokens (NFTs) has elicited both excitement and apprehension among consumers, who find themselves influenced by the perceived scarcity and the perceived risks surrounding these novel digital assets. This study investigates the factors influencing consumer adoption of NFTs by integrating the concepts of perceived scarcity and perceived risks within the theoretical framework of the Theory of Planned Behavior (TPB). Employing structural equation modeling, the research evaluates the impact of perceived scarcity, perceived ease of use, attitudes, subjective norms, perceived behavioral control, and perceived risk on NFT purchase intentions. The findings reveal that perceived scarcity and perceived ease of use significantly positively affect consumers' intentions to purchase NFTs. Conversely, perceived risk exerts a negative effect on purchase intentions. Additionally, the study demonstrates that attitudes, subjective norms, and perceived behavioral control positively affect NFT purchase intentions. This study provides a behavioral roadmap for navigating the complex love-hate relationship consumers have with NFTs, shedding light on the factors that motivate individuals to embrace or avoid these digital collectibles.
Open access
Digital Marketing and Social Media
Technology Adoption and User Behaviour
Consumer Behavior in Brand Consumption and Identification
The Internet has become one of the main media, especially e-commerce transactions, which are increasingly popular and play an important role in the growth of online businesses. The RestLyfe store uses the Itemku platform, which uses a Business to Customer (B2C) and Customer to Customer (C2C) model, to sell digital products such as digital vouchers and game keys. However, some of the issues faced when using the platform include high costs, limited market reach, and payment methods that can only be used by certain customers. Building an e-commerce website and adding a cryptocurrency payment gateway will hopefully solve these problems. To achieve this goal, an e-commerce website based on the WordPress content management system (CMS) with the WooCommerce plugin will be built. This plugin will incorporate a cryptocurrency payment gateway and facilitate transaction design. To collect related data, observation and literature review were conducted. The waterfall model System Life Cycle Development (SDLC) method will be used to build the e-commerce website. The results and conclusions of this study show that the website built can solve the problem with implementation results that meet the needs of the initial analysis, and the results of black box testing conducted on the website show good results. In addition, this study demonstrates the use of modern sales strategies for cryptocurrencies and the optimization of the latest technologies. Thus, the e-commerce site offers more opportunities to reach the target market and meet the needs of an increasingly digitized market.
Cryptocurrencies have sparked debates globally, leading to diverse reactions from countries regarding their regulation. Sri Lanka remains cautious, as evidenced by its absence in the 2021 Chainalysis Adoption Index and its 58th ranking in 2022, indicating growing user numbers despite warnings from the Central Bank of Sri Lanka. This study uses the Theory of Planned Behavior (TPB) to assess Sri Lankan university studentsâ intentions to invest in cryptocurrencies, exploring financial risk tolerance as a moderating variable. TPB suggests that attitudes, subjective norms, and perceived behavioral control predict intentions, with financial risk tolerance potentially influencing these intentions. The research collected data from students at top state and private universities in Sri Lanka through structured questionnaires, employing descriptive statistics and structural equation modeling (SEM) for analysis. Results showed that attitudes, subjective norms, and perceived behavioral control significantly influence investment intentions in cryptocurrencies. However, financial risk tolerance did not significantly modify these effects, suggesting that the volatile nature of cryptocurrencies attracts those with higher risk tolerances, rendering the moderating effect of financial risk tolerance negligible. This study offers insights for practitioners and policymakers, highlighting factors influencing cryptocurrency investments among university students and emphasizing the need for informed investment strategies suitable for varying risk tolerances. These findings enhance understanding of investment behavior in emerging markets like Sri Lanka.
Asli Derlek Kocabas, EyĂźp ĂalÄąk, Basak Cetinguc
In recent times, the usage of cryptocurrencies has become remarkably widespread in e-commerce applications. This study aims to explain the factors affecting cryptocurrencies by proposing an extended technology acceptance model (TAM) consisting of perceived ease of use, perceived usefulness, trust, social influence, social support, religious belief, and intention to use. A web-based survey was conducted to collect data from individuals who had never previously used cryptocurrencies and data were analyzed via employing partial least square structural equation modelling (PLS-SEM) with SmartPLS software. According to the results, the relationships based on early TAM were validated. Additionally, trust, social influence, and social support have direct effects on the intention to use. Contrary to expectations, religious belief has no influence on trust and intention to use. This study could draw the attention of researchers, developers, and marketers in cryptocurrency to understand the dynamics of potential customers. Findings of this study highlight the pressing need for policymakers in Turkiye to prioritize ease of use, perceived usefulness, and, most importantly, trust within the evolving landscape of cryptocurrency systems.
Purpose As the global financial ecosystem grapples with the complexities of modernization, blockchain technology emerges as a pivotal catalyst, offering the banking, financial services, and insurance (BFSI) industry unprecedented opportunities for secured digital transformation and enhanced customer trust. To gain a comprehensive understanding of blockchain technology adoption, this study aims to identify the factors and establish the contextual interrelationships among them. Design/methodology/approach The authors have identified the factors affecting blockchain technology adoption in BFSI industry through extensive literature review and expertsâ interviews. After identification of factors, contextual relationship has been established based on expertsâ opinion and total interpretive structural modeling (TISM) approach. Furthermore, factors are categorized into autonomous, dependent, linkage and driving variables using cross-impact matrix multiplication applied to classification analysis. Findings The TISM-based structural model is divided into eight different hierarchal levels in which Government support is placed on the lower most layer (level 8) which indicates that this is the most crucial factor in blockchain adoption. Further social influence and security are placed on seventh and sixth level in the hierarchy. Practical implications The results of this study will help the policymakers to direct the resources from the most crucial factor to other factors in the hierarchy as per their relevance. In essence, this study serves as a guiding compass, steering the course of blockchain technology adoption in the BFSI sector toward a more secure and digitally transformed future. Originality/value In the current landscape, blockchain technology remains in its nascent stage, leaving ample room for exploration and innovation. This study stands as the pioneering effort to comprehensively identify and establish the contextual relationships among the adoption factors of blockchain technology within BFSI industry. Through rigorous TISM analysis, this paper enriches the existing body of knowledge on blockchain technology adoption.
Purpose Over the past years, non-fungible tokens (NFTs) have sparked growing interest in the sport industry. NFTs are unique digital assets verified using blockchain technology. Each NFT has a distinct identifier that sets it apart from other tokens, documenting its uniqueness and ownership. NFTs promise innovative growth opportunities by generating revenue via novel products such as digital collectibles which can be owned and traded on dedicated platforms. Despite this promising outlook, it currently seems unclear how sports NFTs should be designed and which features they should offer to align with consumer values, effectively meet their needs and ultimately drive Purchase Intention. This study will therefore attempt to answer the following research question: Which consumer values and consumer needs have a positive impact on PI of sports NFTs? Based on the results, the study seeks to offer advice on concrete characteristics sports NFTs should possess in order to foster mainstream adoption. Design/methodology/approach To address the current gap in the literature and provide an answer to the research question, this paper uses structural equation modelling exploring the impact of consumer values and consumer needs or wants on purchase intention regarding sports NFTs. Findings The results of this study indicate that social needs or wants (SNW) have the strongest impact on purchase intention, as well as on experiential and functional needs or wants. NFTs should therefore possess characteristics that foster community, interaction and connection with other team or athlete supporters while enhancing the overall consumer experience. Incorporating these elements into future NFTs can help sports organizations tap into the social SNW of consumers by providing opportunities for connection, interaction and collective experiences within supporter communities. Research limitations/implications Due to the low response rate of Baby Boomers, the results of the study cannot be applied to this cohort. Additional research, potentially using physical in-stadium surveys and targeted specifically at the BB cohort may shed light on their particular values, needs or wants and impact on sports NFT purchase intention. Moreover, Generation Z respondents may statistically be underrepresented in the sample due to the fact that only respondents aged 18 and older were included in the study. Hence, the part of Generation Z, which was born after March 2006 and had not yet come of age at the time of this research, was explicitly excluded from the survey. Results should be applied carefully to the population of sports team or athlete supporters due to the method of data collection which was based on convenience sampling and may therefore not be representative. Since the survey was exclusively administered online, people with no Internet access are not represented in this research. Practical implications Sports organizations and marketers can leverage the strong impact of SNW identified in this study to position their NFT portfolio accordingly. Using athletes themselves or other influencers as product ambassadors may trigger purchase intention of consumers. Additionally, it is crucial that socializing agents, such as family, friends, colleagues and other team supporters with a strong influence on consumers own or promote NFTs. Marketers can support this adoption process by encouraging testimonials, reviews and user-generated content that showcase how NFTs have positively impacted others. Reaching a critical mass of adoption among supporters as a first step will ultimately impact consumersâ desire to satisfy ENW and FNW as well. Consumers may then recognize the benefits of using NFTs to enhance their overall consumer experience and to make their lives easier, for instance by using NFTs as season tickets or to collect loyalty points they can redeem later. Originality/value This study is the first attempt to determine the relationship between consumer values, consumersâ needs or wants and their impact on purchase intention regarding sports NFTs.
Consumer Behavior in Brand Consumption and Identification