Surjandy Surjandy, Cadelina Cassandra, Stefanus Rumangkit, Abdullah Billman
Non-Fungible Token (NFT) is a cryptographic asset and each unit is distinct from other assets in its own right. Cryptocurrency is an important element of NFT transactions. In 2022, cryptocurrency has experienced a tremendous decline, but the number of NFT transactions had significantly increased. According to a previous studies, NFT has its own popularity and followers. In this case, this research was carried out to examine the information quality model-based NFT's actual content in order to determine the elements that can affect the intention to use aspects. 207 respondents completed the survey, but only 198 were used to process the data. This study used the quantitative method with the structural equation modeling and partial lease square (SEM-PLS) methodologies. It was discovered that knowledge and motivation were two factors that did not affect the intention to use, while the other five did. This study identified 91.3% as a strong influencing factor (R2). This study is very beneficial to a variety of sectors, particularly those involved in NFT and digital marketing (trending advertising).
Purpose This paper explores sports consumer interest in virtual environments (VE) and Web3 activations, specifically how the level of psychological involvement, consumers' generational cohorts and previous experience with VE and Web3 activations influence consumer interest in VE and Web3 products and services related to their favorite sports team. Design/methodology/approach A survey instrument was developed and distributed online resulting in a sample size of n = 526. The survey was designed to measure consumers' psychological involvement with their favorite sports team based on the Psychological Continuum Model, and to determine respondents' interest in potential VE and Web3 activations. Finally, the survey collected demographical information and data regarding respondents' previous experience with VE and Web3 applications. Multiple regression analysis was subsequently conducted to predict the impact of (1) psychological involvement, (2) consumers' generational cohorts and (3) previous experience with VE and Web3 activations on the dependent variable consumer interest in VE and Web3 activations. Findings The regression model showed a significant impact of the independent variables on consumer interest in VE and Web3 activations with consumer involvement exerting the highest influence. Consumers' previous experience with VE and Web3 applications also seems to trigger interest, in line with the consumption capital theory. This study also suggests that younger generational cohorts are not intrinsically more attracted to VE and Web3 activations but their interest seems to depend on the type of activation. Research limitations/implications This study is intended as a first assessment of independent variables that may have an impact on sports consumer interest in VE and Web3 activations. Further research is needed to assess the impact these variables combined with other indicators may have on consumer interest, for instance by employing a Structural Equation Modelling (SEM) approach. This research included selected VE and Web3 applications comprising online games, NFTs and cryptocurrencies, to calculate a VE and Web3 Literacy Score for the purpose of this paper. However, the “umbrella term Web3” (Wang et al. , 2022) could indicate a number of additional applications not considered in this research. Future studies could examine sports consumer experience with additional Web3 activations when assessing VE and Web3 Literacy. Practical implications The results of this research imply the need for a diversification of the VE and Web3 portfolio offered by sports teams to cater to different consumer segments. Upcoming challenges for sports teams include motivating younger consumers to take an interest in Web3 activations beyond gaming. Additionally, sports teams should encourage loyal supporters in the advanced stages of the PCM who possess limited VE and Web3 experience, to engage in VE and Web3 activations through simplified offers complementing their overall fan experience. Originality/value VE and Web3 activations currently offered by sports teams are still in their early stages and data underpinning their success is scarce. This is the first study examining variables that may influence consumer interest in a sports context.
Digital Marketing and Social Media
Technology Adoption and User Behaviour
Consumer Behavior in Brand Consumption and Identification
Purpose The objective of this research is to identify and prioritize the critical factors that influence the adoption of blockchain technology within the banking sector. Design/methodology/approach A well-known theoretical framework, the “Technology Organization Environment (TOE),” was chosen to analyze what criteria and sub-criteria affect blockchain adoption in the banking sector after a thorough assessment of the prior literature. Following that, 3 evaluation criteria and 14 sub-criteria were selected and verified using expert opinion. A survey design was created, and data for the study has been collected from various information technology (IT) managers/officers in the banking sector. A fuzzy analytic hierarchy process (Fuzzy-AHP) was then used to meet the purpose of the research. Findings The study identified that the organizational dimension is the most significant criteria for blockchain adoption in the banking sector, followed by the environmental dimension. In contrast, the technological dimension is the least influential criterion. Clientele pressure, IT resources, financial resources, pressure from competitors and relative advantage are the most influential sub-criteria for blockchain adoption. Research limitations/implications This study provides valuable insights to bank managers, blockchain and IT developers, third-party service providers and policymakers. For instance, adopting the same blockchain platform is easier for both large and small banks for banking operations by using third-party service provider. At the same time, banks should have the banks' own core team to implement the blockchain-based systems or to have control over the third-party service providers during the adoption stage. Originality/value To the best of the authors' knowledge, no empirical studies have used a holistic organizational context to understand the factors influencing the adoption of blockchain technology from traditional to blockchain-based banking systems.
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.
Purpose This paper aims to create and evaluate a model for cryptocurrency adoption by investigating how age, education, and gender impact Behavioural Intention. A hybrid approach that combined partial least squares structural equation modeling (PLS-SEM) and artificial neural network (ANN) was used for the purpose. Design/methodology/approach This study uses a multi-analytical hybrid approach, combining PLS-SEM and ANN to illustrate the impact of various identified variables on behavioral intention toward using cryptocurrency. Multi-group analysis (MGA) is applied to determine whether different data groups of age, gender and education have significant differences in the parameter estimates that are specific to each group. Findings The findings indicate that Social Influence (SI) has the greatest impact on Behavioral Intention (BI), which suggests that the viewpoints and recommendations of influential and well-known individuals can serve as a motivating factor to invest in cryptocurrencies. Furthermore, education was found to be a moderating factor in the relationship found between behavioral intention and design. Research limitations/implications Prior studies on technology adoption have utilized superficial SEM and ANN methods, whereas a more effective outcome has been suggested by implementing a dual-stage PLS-SEM and ANN approach utilizing a deep neural network architecture. This methodology can enhance the accuracy of nonlinear connections in the model and augment the deep learning capacity. Practical implications The research is based on the Unified Theory of Acceptance and Use of Technology (UTAUT2) and expands upon this model by integrating elements of design and trust. This is an important addition, as design can influence individuals' willingness to try new technologies, while trust is a critical factor in determining whether individuals will adopt and use new technology. Social implications Cryptocurrencies are a relatively new phenomenon in India, and their use and adoption have grown significantly in recent years. However, this development has not been without controversy, as the implications of cryptocurrencies for society, the economy and governance remain uncertain. The results reveal that social influence is an important predictor for the adoption of cryptocurrency in India, and this can help financial institutions and regulators in making policy decisions accordingly. Originality/value Given the emerging nature of cryptocurrency adoption in India, there is certainly a need for further empirical research in this area. The current study aims to address this research gap and achieve the following objectives: (a) to determine if a dual-stage PLS-SEM and ANN analysis utilizing deep learning techniques can yield more comprehensive research findings than a PLS-SEM approach and (b) to identify variables that can forecast the intention to adopt cryptocurrency.
Wei Quan, Seongseop Kim, Tadesse Bekele Hailu, Wisal Ahmad · 5 authors
Mobile payment is already the main financial transaction method for travellers, whereas cryptocurrency payment has emerged more recently. This study aimed to compare and reveal the intentions and research implications of the adoption of the two payment methods. The novelty of this study lies in the inclusion of the technological dimensions, perceived security, perceived risk, and perceived convenience that influence Korean and Chinese consumers’ behavioural intentions in the technology acceptance model (TAM). The results of this empirical study will help expand the industry's perspective on and understanding of this innovation in technology, and facilitate the development of related policies in the tourism and hospitality industry.
Purpose Blockchain technology (BCT) has multiple benefits across industries in varied contexts, but limited organizations have adopted such disruptive innovative technologies in the healthcare industry in India. The research on advancing the understanding of blockchain adoption (BCA) determinants in India's healthcare industry is limited. Thus, the study aims to identify the BCA determinants in the healthcare sector in India. Further, the impact of BCA was examined on organizational performance (OP). Design/methodology/approach The study utilizes Technology, Organization, and Environment (TOE) framework to investigate the determinants of BCA in the healthcare sector in India. The data were gathered using a seven-point Likert seven-point ranging from “strongly agree” to “strongly disagree” from 272 respondents working in the healthcare industry in India. The relationship within the framework was investigated using structural equation modeling. Findings The results demonstrate the positive impact of top management support, organizational size, organizational readiness, competitive pressure and government support on BCA in the healthcare sector. On the other hand, compatibility, security and privacy issues do not affect BCA. The results emphasize and validate blockchain’s importance in improving OP in the healthcare sector. Further, the results indicate that non-technological factors are paramount to improving BCA within the healthcare sector. Organizations should invest in employee training and development to ensure their staff have the necessary knowledge and skills to effectively manage BCT. Research limitations/implications The model was developed for BCA in the healthcare sector in the Indian context; however, the model applies to other countries with the same business environment. Hence, the model can be further examined in diverse countries to generalize the findings. Practical implications The study offers valuable insights into the factors that influence BCA and OP in the healthcare sector. The results of this research can be used to inform policy decisions and guide practitioners toward promoting and facilitating the use of BCT in healthcare organizations. Originality/value To the best of the author’s knowledge, the present study is the first of its kind to examine the TOE framework in BCA within the healthcare sector and its implications on OP.
Muhammad Khalid Mansoor, Amir Zaib Abbasi, Ghazanfar Ali Abbasi, Sheraz Ahmad · 5 authors
The industrial revolution 4.0 has pushed the banking sector to bring transparency in their financial transactions, especially in sending and receiving remittances. This study identifies the factors that affect the user's behaviour in the adaptability of blockchain technology (BT). The unified theory of acceptance and use of technology (UTAUT) with two additional factors comprising trust and transparency is used in the current study. The data of 240 respondents from the banks of Pakistan were tested through the PLS-SEM and fsQCA. The study results show that performance expectancy, effort expectancy, trust in BT, transparency in BT and the facilitating condition positively affect, while social influence negatively affects the behavioural intention towards BT. This study extends the application of the UTAUT model with two dimensions (e.g., trust and transparency) to identify the factors that predict bankers' intentions and their subsequent effect on the overall use of blockchain-based remittance services in Pakistani banks. In addition, we extend this study by combining symmetric (i.e. PLS-SEM) and asymmetric (i.e. fsQCA) techniques to generate significant implications for banks that provide blockchain-based remittance services. The asymmetric findings also provided bankers with two models (recipes) that have a greater potential for predicting bankers' use of blockchain-based remittance services.
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.
Sarthak Dhingra, Rakesh D. Raut, Angappa Gunasekaran, B. Koteswara Rao Naik · 5 authors
Purpose This paper aims to discover and analyze the challenges hampering blockchain technology’s (BT’s) implementation in the Indian health-care sector. A total of 18 challenges have been prioritized and modeled based on an extensive literature search and professional views. Design/methodology/approach An integrated multi-criteria decision-making approach has been used in two phases. Best worst method (BWM) is used in the first phase to prioritize the challenges with sensitivity analysis to validate the findings and eliminate a few challenges. In the second phase, interpretive structural modeling is applied to the remaining 15 challenges to obtain relative relationships among them with cross-impact matrix multiplication applied to classification analysis for their categorization. Findings The study’s results reveal that limited knowledge and expertise, cost and risk involved, technical issues, lack of clear regulations, resistance to change and lack of top management support are the top-ranked or high-intensity challenges according to the BWM. Interpretive structural modelling findings suggest that the lack of government initiatives has been driving other challenges with the highest driving power. Research limitations/implications This work has been conducted in the Indian context, so careful generalization of the results is needed. Practical implications This work will give health-care stakeholders a better perspective regarding blockchain’s adoption. It will help health-care stakeholders, service providers, researchers and policymakers get a glimpse of the strategies for eradicating mentioned challenges. The analysis will help reduce the challenges’ impact on blockchain’s adoption in the Indian health-care sector. Originality/value The adoption of BT is a novel concept, especially in developing countries such as India. This is one of the few works addressing the challenges to BT adoption in the Indian health-care sector.
Uma V. Sridharan, Fady Mansour, Lydia Ray, Tobias M. Huning
Purpose This study aims to investigate the effect of risk tolerance on the individual choice of adopting Bitcoin in the form of making and receiving payment and receiving compensation. Design/methodology/approach The study uses data collected from an anonymous survey of 225 undergraduate and graduate students to measure their risk attitude using the general risk-taking propensity scale proposed by Zhang et al. (2018) and the risk-taking index, proposed by Nicholson et al. (2018). After controlling for a variety of personal traits, the study uses logistic regression to identify the predicted probabilities and marginal effects on individual choice of adopting Bitcoin. Findings The findings of this study suggest that individuals with a higher risk-seeking attitude are more likely to choose to receive payment for goods they sell in Bitcoin and more likely to choose to receive a portion of their compensation in cryptocurrency. Individuals in the higher-income groups are more likely to adopt Bitcoin 46% and 65% than their lower 14% and 45% and middle income 4% and 18% counterparts. While there was no statistically significant difference between males and females in adopting Bitcoin, respondents between the age of 26 and 29 were more likely to adopt Bitcoin. The effect on receiving gold was slightly smaller but highly comparable to that of receiving Bitcoin, which highlights a similar perception of risk toward the Bitcoin and gold. Originality/value The study uses a new data set collected by surveying 225 individuals and two different risk measurements to identify the relationship between perceived risk and Bitcoin adoption.
Despite the reported disruptive nature of blockchain technology in the extant literature, its adoption is slower than its potential. This difference between the technology’s promises and its current adoption has sparked interest in understanding the factors impeding widespread adoption. This systematic literature review (SLR), drawn from 1786 studies published between 2008 and May 2023, seeks to address this gap. Specifically, our research explores the influence of factors and their differences and commonalities on blockchain adoption. The SLR, examining individual and organisational perspectives, identifies 152 unique factors influencing 25 industries across 21 countries. This review also highlights distinct commonalities and variations in these factors across industries and countries. For instance, while regulatory issues and costs were universal concerns, the importance of technical understanding diverged between industries. Furthermore, country-specific factors, including local regulations and cultural aspects, emerged as significantly influenced insights that provide a comprehensive perspective on the dynamics of blockchain adoption, offering valuable guidance to industry practitioners and researchers striving to navigate the complexities of blockchain integration.
Moritz T. Bruckner, Dennis M. Steininger, Jason Bennett Thatcher, Daniel Veit
Abstract Many firms use social media (SM) to solicit online investments. In this study, we examine the interaction between SM attributes and online-investment attributes to determine how this interaction shapes users’ investment decisions. Specifically, we investigate initial coin offerings (ICOs) as an application domain of distributed ledger technology for peer-to-peer investment. We use signaling theory to develop a context-specific explanation for how the interplay of persuasion signals found in SM and technology-enforced lockups shapes individuals’ ICO investment decisions. To evaluate this interplay, we conducted a 2 × 2 factorial experiment with 473 participants. The results show that when an investment does not require a technology-enforced lockup, persuasion signals encourage investments in ICOs; however, when an investment requires a technology-enforced lockup, persuasion signals do not affect investments in ICOs. Furthermore, our analyses suggest that combining a technology-enforced lockup and persuasion signals reduces the ICO’s plausibility. This is the first study to investigate how the willingness to invest in ICOs is influenced by the relationship between technology-enforced lockups and persuasion signals. The findings have practical implications for individuals attempting to make sound decisions on ICO investments, policymakers regulating online investments, and firms seeking to attract investors.
Adrian Stanciu, Mariana Bernardes, Melanie Viola Partsch, Clemens M. Lechner
Cryptocurrency is an attempt to create an alternative to centralized financial systems using blockchain technology. However, our understanding of the psychological mechanisms that drive cryptocurrency adoption is limited. This study examines the role of basic human values in three stages of cryptocurrency adoption-awareness, intention to buy, and ownership-using the Theory of Planned Behavior (TPB). Logistic regression analysis was conducted on a quota sample of 714 German adults, and the results showed that openness-to-change values increased the likelihood of cryptocurrency awareness, while self-enhancement values increased the likelihood of intention to buy and ownership. These findings were consistent even after controlling for demographic characteristics, attitudinal beliefs, and perceived behavioral control, which are important factors in the TPB. The results suggest that basic human values may influence an individual's decision to adopt cryptocurrency, but the transition from awareness to ownership may be influenced by socio-economic opportunities available to interested individuals.
Purpose Organizations have started using the metaverse to sell non-fungible tokens, execute engineering processes and conduct business meetings. A condition of creating value by moving business processes to the metaverse is acceptance of this technology. In business-to-business scenarios, internal employees and external partners may have different views on the topic but must agree upon new practices. Understanding common motivations and challenges associated with using the metaverse is crucial to its success. Design/methodology/approach The authors interviewed managers from a pharmaceutical company considering conducting meetings with clients in the metaverse. A series of 23 statements on reasons for (non)-use was generated. Twenty-five individuals (13 employees and 12 clients) then ranked these statements against each other, revealing what would drive or hinder their metaverse use. The authors compared these perspectives to identify common issues. Findings The authors identified four different views. Views 1 and 2 correspond to internal and external participants, while Views 3 and 4 correspond to external ones only. View 1 is skeptical and underlines the role of peers in acceptance. View 2 is a positive perspective centered on usefulness. View 3 is ambivalent and is centered on efforts required to use the metaverse. View 4 reveals a reversed perspective wherein using the metaverse is a low-effort activity. Originality/value This paper proposes a case study probing acceptance of a realistic business use of the metaverse. This paper identifies risks to mitigate and motivations to leverage when proposing metaverse usage in a business-to-business context.
This project integrates Web 3.0, web development, and mobile game development to create aplay-to-earn (P2E) mobile game with a web component. The objective of this project is to seamlesslycombine a mobile game with a website and a distinctive token ecosystem to provide players with anenjoyable experience. For the purposes of creating mobile games, websites, and smart contracts,respectively, the Unity Game Engine and the "Next.js' framework, Solidity, are employed. The projectmakes use of Web3 Modal, the MetaMask extension, Microsoft Azure PlayFab for player management,and Web3 Modal for a seamless interface with blockchain networks. The main outcomes of the projectinclude successful implementations like a mobile game with simple gameplay that players can quicklyunderstand and a website with an interface that will allow you to withdraw crypto tokens securely usingsmart contracts. By offering real benefits like personalized crypto tokens, the idea increases playerparticipation. The primary conclusion to be drawn from this project is that combining gaming withblockchain integration results in a unique and engaging experience for gamers. In conclusion, our studyshows that integrating several technologies to improve user experiences in the gaming and blockchain areasis both feasible and potentially rewarding.
Emon Kalyan Chowdhury, Iffat Ishrat Khan, Bablu Kumar Dhar
Abstract This study applies the Unified Theory of Acceptance and Use of Technology model to explore the factors that potential users may prioritize when intending to use blockchain technology in accounting. Primary data was collected through a structured questionnaire from 217 respondents. Both factor analysis and regression models were applied to achieve the study's purposes. The findings indicate that respondents consider privacy, usefulness, cost, and facilitation issues when intending to use blockchain technology in accounting to enhance data reliability and reduce the workload of auditors. Bangladesh, a developing country, has immense opportunities to ensure a transparent society by applying blockchain technology in accounting, with cooperation from stakeholders such as firms, the government, regulatory authorities, and users of accounting information. It is expected that the findings of this study will help the concerned authorities to formulate appropriate strategies for the implementation of blockchain technology in the field of accounting in Bangladesh.
Purpose The purpose of this study is to investigate consumers’ cryptocurrency adoption through the unified theory of acceptance and use of technology (UTAUT) and complexity theory. Design/methodology/approach By using a purposive sampling method, a configurational model was developed and a questionnaire-based survey was conducted to gather responses from a Malaysian sample. A total of 223 responses were obtained. Partial least square structural equation modeling (PLS-SEM) and fuzzy set qualitative comparative analysis (fsQCA) were adopted to analyze the data. Findings The PLS-SEM indicated that performance expectancy, effort expectancy, social influence and affinity for technology interaction were positive cryptocurrency adoption predictors, whereas regulation was a negative predictor. Based on the fsQCA, cryptocurrency adoption could be explained by six configurational paths, which comprised combinations of the proposed causal conditions: the UTAUT factors (performance expectancy, effort expectancy, facilitating condition and social influence), environmental factor (regulation) and individual factors (financial knowledge and affinity for technology interaction). Research limitations/implications This study offers contributions to the theoretical body of knowledge by articulating the relevance of extended UTAUT and extending the established UTAUT model by integrating external environment and personal factors, also showing the linear and nonlinear interplays of performance expectancy, effort expectancy, facilitating conditions, social influence, regulation, financial knowledge and affinity for technology interaction. Practical implications The findings facilitated practitioners’ (cryptocurrency brokers, governments and businesses) fostering of cryptocurrency adoption through the joint consideration of different factors. The factors spanned technological attributes and individual characteristics to regulation. Practitioners should acknowledge that different combinations of the aforementioned antecedents can be equally effective to increase cryptocurrency adoption. The findings suggested that these causal conditions should be considered holistically and that there is no best predictor. Social implications In social terms, the research is expected to contribute to the dissemination of cryptocurrencies and help governments and central banks to develop, regulate and supervise digital currencies, as well as in the implementation of a digital currency ecosystem aligned with sustainable development goals. Economically, the results might foster a high cryptocurrency adoption rate and stimulate crypto-token-based business models and investment opportunities that present new means of revenue generation at individual, organizational and national levels. Originality/value This study offers unique perspectives for the body of knowledge and practice in the cryptocurrency domain, using both symmetric and asymmetric methodologies, by delineating the configurational logic involving technological capabilities, social influences, regulation and individual characteristics in facilitating more efficacious dissemination of cryptocurrencies.
Buying and selling real estate is time consuming and labor intensive, requires many intermediaries, and incurs high fees. Blockchain technology provides the real estate industry with a reliable means of tracking transactions and increases trust between the parties involved. Despite the benefits of blockchain, its adoption in the real estate industry is still in its infancy. Therefore, we investigate the factors that influence the acceptance of blockchain technology by buyers and sellers of real estate. A research model was designed based on the combined strengths of the unified theory of technology acceptance and use model and the technology readiness index model. Data were collected from 301 real estate buyers and sellers and analyzed using the partial least squares method. The study found that real estate stakeholders should focus on psychological factors rather than technological factors when adopting blockchain. This study adds to the existing body of knowledge and provides valuable insights to real estate stakeholders on how to implement blockchain technology.
In spite of all the hype, media attention, and explosion in market valuations, cryptocurrencies have so far failed to find wide acceptance as a means of payment. This has led to a wealth of literature investigating why cryptocurrencies such as Bitcoin failed to establish themselves widely. However, these investigations have generally focused on specific cryptocurrencies and did not highlight which features of cryptocurrencies help or hinder adoption. This paper helps close this gap by conducting a qualitative user study with 960 respondents representative of the German population, obtaining freeform answers on the main adoption factors as well as the main obstacles for cryptocurrencies from both existing and potential users. We identify 33 reasons for and against cryptocurrency adoption, distributed into financial, ideological, benefits-based, technical, acceptance-based, and security-based categories. The contribution of this paper is threefold: We go beyond positive reasons and explicitly consider obstacles to cryptocurrency adoption inside a unified framework. We also identify additional payment system features that differ between different cryptocurrencies and influence their adoption. Thirdly, we identify adoption factors based on perceptions and personalities rather than just measurable features. Therefore, this paper also adds to the ongoing systematization of cryptocurrencies in the current stream of literature on the topic.
Cheuk Hang Au, Wen Shou Hsu, Po Hsu Shieh, Yue Lin
With value pegged to fiat currencies, stablecoins can mediate the price volatility of cryptocurrencies. And yet, the concept of stablecoin and its impact on fostering individuals’ cryptocurrency adoptions remain unclear. To explore stablecoin’s role in a contextualized way, we adopted the Push-Pull-Mooring (PPM) model as the theoretical foundations. PPM Framework is especially suitable for our study because it allows us to use a pretest-posttest approach to study the changes of different factors created by introducing stablecoins and the impact of these factors on the continuous intention (CI) of adopting cryptocurrency exchanges. Our results suggested that less experienced cryptocurrency users might not understand immediately upon learning about stablecoins. They may even feel confused and become less motivated to adopt cryptocurrencies. Conversely, more experienced users may recognize the importance of stablecoins. Moreover, after the introduction of stablecoins, the power of different factors on CI has also changed. Therefore, cryptocurrency exchanges need to adopt more diversified strategies to engage users of varying experience levels.
Purpose The potential growth in cryptocurrencies has raised serious ethical and religious issues leading to a new investment rethinking. This paper aims to identify the influence of religiosity on cryptocurrency acceptance through an extended technology acceptance model (TAM) model. Design/methodology/approach In the first phase, this research develops a conceptual model that extends the theory of the TAM by integrating the religiosity component. In the second phase, the proposed model is tested using search volume queries in daily frequencies from 01/01/2018 to 31/12/2022 and structural equation modeling (SEM). Findings The empirical results demonstrate a significant positive effect of religiosity on the intention to use cryptocurrency, the users' perceived usefulness (PU) and ease of use (PEOU). Besides, the authors note that PEOU positively influences the intention. Furthermore, religiosity indirectly affects the intention through the PEOU and positively impacts the intention through the PU. In the same way, PEOU has a considerable indirect effect on the intention through PU. Practical implications This study has practical and theoretical contributions by providing insights into the cryptocurrency acceptance factors. In other words, it contributes to the literature by extending TAM models. Practically, it helps managers determine factors affecting the intention to use cryptocurrencies. Therefore, they can adjust their industry according to the suitable characteristics for creating successful projects. Social implications Identifying the effect of religiosity on cryptocurrency users' choices and decisions has a social added value as it provides an understanding of the evolution of psychological variants. Originality/value The findings emphasize the importance of integrating big data to analyze users' attitudes. Besides, most studies on cryptocurrency acceptance are investigated based on one kind of religion, such as Christianity or Islam. Nevertheless, this paper integrates the effect of five types of faith on the users' intentions.