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 individualsโ cryptocurrency adoptions remain unclear. To explore stablecoinโs 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.
Over the recent years, blockchain, a digitalization phenomenon, has leveraged its superior features to remodel the relationships of logistics partners. This cutting-edge technology has brought a faster, more transparent, and cost-effective logistics industry. This study, therefore, aims to investigate the behavioral intention to use the blockchain of individuals who work in logistics companies in Ho Chi Minh City (HCMC), Viet Nam, through the Unified Theory of Acceptance and Use of Technology (UTAUT) and its extended factors. Accordingly, non-probability sampling with convenience sampling has been chosen. A questionnaire was used to collect data from logistics workers before exploring and clarifying factors affecting the usersโ intention, namely performance expectancy (PE), effort expectancy (EE), social influence (SI), and facilitating conditions (FC). In addition, experience (EXP) was also expected to influence the relationships. Therefore, a multi-analytical hybrid structural equation modeling-artificial neural network (SEM-ANN) approach was used to evaluate the gathered data empirically. The expert panel examined the established questionnaire through face validity and content validity to ensure the validity and reliability of the survey instrument. The findings revealed the different positive impacts of factors on the intention to use blockchain. While the result of the PLS-SEM technique is a descending order impact of PE, FC, EE, SI, and EXP was found that have no meaningful effect on the relationships, the ANN approach produces a surprising conclusion when SI ranks first in the magnitude of influence.
Virtual Economies continue to be a global phenomenon, and cryptocurrency is prominent in this process, and it can be attained by playing blockchains. The rise of non-fungible tokens (NFTs) is also increasing the demand for Ethereum. Thus, these features encourage many people to earn money while playing it that even young people (most likely undergraduate students) invest. There is no doubt that it is a good business for financial risk and problems, it also provides much more significant opportunities and applications. Somehow the notions of blockchain technology provides some negative outcomes, specifically in the behavioral aspects of them. In this paper, the researchers focused on socioeconomic status and behavioral aspects of the players and considered these two as the factors in their perspective about the blockchain games. The results on socioeconomic shows that most of them are playing because of financial problems and sees this as an opportunity to have an income. The results on Behavioral impacts through pareto analysis shows that most respondents suffer from the negative impact of playing blockchain games, 66% of the respondents has lack of sleep, 53.5% less focus in studies, 39.5% less interactive and more. Tukey method is also use to analysis whether which questions is significantly important in terms of obtaining and analysis the results from the survey conducted. In conclusion the socioeconomic stand is likely to affect their perspective in the blockchain games and shows that these games can lead to addiction because of the time spend in playing, the anxiety with the game and other negative outcomes.
The use of blockchain technology is increasing along with the need for an increase in financial value, one of which is cryptocurrency. This study analyzes behavioral intentions to invest using cryptocurrencies based on social effects, regulatory support, and trust factors. Quantitative procedures are applied to answer study hypotheses with data sources from distributing online questionnaires to respondents who invest in cryptocurrencies in Indonesia. Therefore, a purposive sampling technique was applied to 410 respondents. The data analysis used Partial Least Square - Structural Equation Modeling-(PLS-SEM). The study's results prove that social effects positively and significantly influence trust and behavioral intention. In addition, regulatory support positively and significantly affects trust, and trust has a positive and significant effect on behavioral intention to invest in cryptocurrency. This research contributes significantly to investor behavior by applying regulatory support for adopting the latest information technology.
Ibrahim Ramadan Abdelhamid, Islam Tharwat Abdel Halim, Abd El-Majeed Amin Ali, Ibrahim A. Ibrahim
Blockchain technology has attracted a lot of attention lately because it is seen as an all-purpose method for conducting online transactions between unidentified parties without the need for a centralized authority. Modern developers and businesspeople think it will disrupt or even change both the government and industry. In this setting, government-focused blockchains are becoming increasingly prevalent. Several recent studies highlighted use cases in the public sector for decentralized information infrastructures. Blockchain is expected to revolutionize or at least simplify many governmental functions. However, because blockchain use has yet to be widely adopted in government or industrial settings, the question arises: what are the technical hurdles impeding blockchain adoption? To that purpose, a systematic literature assessment of 29 academic articles investigating software engineering problems in blockchain technology for government applications has been done. The papers are initially inductively analyzed in order to illustrate and identify the issues frequently highlighted in academic literature. Furthermore, a theoretical framework is discussed by relying on models used in traditional software development, which is then followed by deductive analysis to map out the blockchain use cases and future trends connected to the difficulties.
P. C. Lai, Evelyn B. H. Toh, Mohammad Rashed Hasan Polas, Mosab I. Tabash
This study presents an empirically well-versed picture of the intention to use blockchain technologies. Empirical evidence from two different regions โ ASEAN and Middle-East (ME) โ reveals factors that lead managers to use blockchain technology. Samples of 268 and 224 from two response groups were collected using a Likert-based questionnaire. The proposed model was tested using structural equation modeling with SmartPLS 3.2.9. Results confirm that the design of platforms has positive and significant relationships with consumersโ intention to use blockchain technologies. Furthermore, positive and significant relationships were also found between perceived usefulness and perceived ease of use with consumersโ intention to use blockchain technologies. Our results also indicate that perceived ease of use had a positive and significant effect on perceived usefulness. So far, there is limited standard relationship found between perceived ease of use and consumersโ intention to use blockchain technologies in the data from the ASEAN region. This study contributes to the evidence-based view on the effect of intention to use blockchain technology, on the roles of design, perceived ease of use, and perceived usefulness through proposing a novel framework. It adds to the field of technology acceptance studies by providing fresh insights among managers. The paper also emphasizes practical implications for business leaders who wish to capitalize on BTโs advantages in the industry.
Neelesh Kumar Mishra, Alok Raj, Anand Jeyaraj, Riya Gupta
This study examines the organizational adoption of blockchain technology (BCT) by synthesizing empirical findings reported in 37 studies using a meta-analysis of bivariate relationships. An extended technology-organization-environment (TOE) framework is applied to examine the antecedents and outcomes of BCT adoption. Our results show that various technological, organizational, and environmental factors influence BCT adoption, including technology compatibility, perceived ease of use, top management support, and coercive pressure. Overall, technological factors had a stronger impact than organizational and environmental factors concerning BCT adoption. Further, our analysis identifies the outcomes of BCT adoption, including improvements in operational performance, innovation capability, and sustainability. BCT adoption has the strongest impact on operational performance. Our study contributes to the existing literature by offering a comprehensive and synthesized overview of the antecedents and outcomes of BCT adoption.
Blockchains have caught the attention of governments, businesses, and researchers due to their potential to revolutionize the way data is stored and consumed. Despite the current interest in blockchains globally, there has been unsatisfactory progress of this promising technology in developing countries, including Tanzania. One factor hindering the advancement of blockchain in the country is the lack of knowledge of the technology itself. Challenged by the situation, this study implemented a blockchain lab to provide a platform for users to explore and practice various concepts of blockchain. This online lab, called Dinari, was implemented using Ethereum blockchain and was hosted on a cloud server. Experiments were conducted to verify the performance of the developed lab. Results from the experiment show that the platform gives an average transaction processing time of 15.17 seconds. The processing times were within an acceptable range of performance when compared with other online platforms, such as Mainnet and Kovan that provide average processing times of between 8.8 seconds and 18.3 seconds. The study can be scaled up in future to deploy more use cases, including health, in addition to the existing payment use case.
This chapter examines how familiarity influences the adoption and how education may increase cryptocurrency users. This project will use a systematic approach highlighting the growth of acceptance of cryptocurrency from 2017 to 2023 using a mixed methods approach since there has been little research on how individuals have embraced and accepted cryptocurrencies. Due to a lack of study, this study examines cryptocurrency adoption, its drivers, and its hazards. This study's outcomes will be a form of Literature Review for future research, increase knowledge of cryptocurrency acceptance, and help in cryptocurrency adoption.
Manal Mansour, May Salama, Hala Helmi, Mona F. M. Mursi
Blockchain technology is referred to as a very secure decentralized, distributed ledger that records the history of any digital asset. It is being used in numerous governmental and private sector organizations across numerous nations. Surveying the current state of blockchain applications and difficulties in e-government services is the goal of this review. Held to the account are use cases for current facilities that use blockchain. Finally, it examines the research gap in blockchain deployment and makes suggestions for future work for additional research.
Sujeet Kumar Sharma, Yogesh K. Dwivedi, Santosh K. Misra, Nripendra P. Rana
This study identifies the critical challenges for blockchain adoption in government, and more specifically in the delivery of public services in the state governments of India. A literature review and focus-group with stakeholders was conducted to identify critical cfhallenges. Each challenge was ranked based on the opinions of stakeholders using conjoint analysis. Regarding government adoption of Blockchain, this study points to ecological shifts as a more significant challenge than technology. This study provides theoretical implications for researchers and valuable insights for practitioners.
Electronic Know Your Customer (E-KYC) is an essential process that is widely used to verify the identities of customers for various purposes.However, traditional E-KYC methods have several limitations, including security and privacy concerns.In this paper, we propose a secured and privacy-preserving E-KYC system using blockchain technology.The proposed system utilizes the security and immutability of the blockchain network to store customer information securely and ensure that it cannot be tampered with.The system also utilizes smart contracts to automate the E-KYC process while ensuring the privacy of customer information.Additionally, we propose the use of a zero-knowledge proof protocol to enable users to prove their identity without revealing their personal information.
Purpose The purpose of this study is to look into the concept of blockchain technology which stores data in a distributed, tamper-resistant setting and how this technology may affect the future library and information (LI) centersโ operations and policy. It explores the potential benefits and limitations of this technology, for LI centers are the core objectives of this paper. Design/methodology/approach A systematic review of both academic and practitioner literature was conducted. It followed the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (2020) standards. Findings The review shows that the decentralized nature of blockchain will transform the work in libraries and improve the inter-communication among communities. It can provide better privacy of user data thus increasing collaboration. However, there might be technological, financial, legal and social challenges that may act as hurdles to the realization of these goals in the true sense. The overall result shows that by keeping data updated, libraries can evaluate blockchain opportunities and make the best use of this technology. Practical implications Given the huge investments by industry, academic research that explores potential ramifications and supports libraries is required. The adoption of blockchain was investigated in this study from a variety of perspectives for LI centerโs while also providing directions for future research. Originality/value It is evident that globally there is progress in blockchain technology development in terms of research and adoption in many industries, but the intention to adopt blockchain by libraries is still a fantasy. The lack of empirical evidence in the existing literature justifies the gap that needs to be filled. This systematic review attempts to fill the gaps in the existing knowledge which may serve as a reference for future initiatives in this field.
Khaled Mahmud, Md. Mahbubul Alam Joarder, Kazi Sakib
Financial technology (fintech) has disrupted the traditional financial system by decoupling, decentralizing, and demystifying finance. Effective and scalable adoption of fintech, however, is key to financial inclusion and value creation through new business models. While theoretical frameworks and models in the literature investigate technology adoption in general, a measurement scheme for customer readiness specifically for fintech is absent. We conduct a National Citizen Survey in Bangladesh (N = 1282), review extant literature on fintech adoption factors and variables, distill major themes into seven dimensions. In this paper, we propose the Customer Fintech Readiness (CFR) index to assess readiness to adopt and use customer facing fintech product, platforms and services. We validate the index and establish its easy replicability, albeit with small contingent adjustments. We find that customers in Bangladesh lag behind in readiness for fintech. Our dimension specific scores provide important insights for policy intervention and planning. While our dataset remains gender-imbalanced and depends on customer self-reporting, we delineate ways to fine-tune its construction for better replication of CFR in other countries.
The widespread use of Blockchain technology (BT) in nations that are developing remains in its early stages, necessitating a more comprehensive evaluation using efficient and adaptable approaches. The need for digitalization to boost operational effectiveness is growing in the healthcare sector. Despite BT's potential as a competitive option for the healthcare sector, insufficient research has prevented it being fully utilised. This study intends to identify the main sociological, economical, and infrastructure obstacles to BT adoption in developing nations' public health systems. To accomplish this goal, the study employs a multi-level analysis of blockchain hurdles using hybrid approach. The study's findings provide decision- makers with guidance on how to proceed, as well as insight into implementation challenges.
This study sought to understand the factors driving the consumer adoption of a cryptocurrency, in particular Bitcoin, as an electronic payment (e-payment) system for electronic commerce (e-commerce) transactions within a developing economy such as South Africa. The advent of e-commerce has led to increased online transactions facilitated by e-payment systems, which can fall prey to opportunistic hackers. Cryptocurrencies have been pegged as a solution to this security issue. However, little is currently known around consumer propensity to use a cryptocurrency as an e-payment option, particularly within a developing economy. The investigated factors that could influence user adoption were based on literature and tested on a South African representative sample of 814 respondents. Of the factors identified from literature, the study found that โperceived usefulness and perceived ease of use,โ โself-efficacy,โ โawareness,โ โtrust,โ and โsecurityโ have the most significant influence on South African consumers adopting a cryptocurrency as an e-payment system.
This study analyzes the impact of blockchain mobile payment services on customer loyalty intention through the mediating role of service quality, privacy and security, and customer satisfaction in the Bangladeshi hospitality industry. Data were collected through a survey using a structured questionnaire from 326 respondents who stayed in 4- and 5-star hotels in Chattogram and Coxโs Bazar. Respondentsโ (N = 326) opinions were analyzed employing Smart PLS software. The results ensure that privacy and security and customer satisfaction mediate the blockchain-based mobile payment services and loyalty intention relationship. However, service quality does not mediate that relationship. The findings of the mediation effect of privacy and security and customer satisfaction are a unique contribution to the blockchain literature in the field of the hospitality industry. Hoteliers are encouraged to employ appropriate blockchain mobile payment services for better quality customer service and ensured safety and security, and in turn, loyalty intention.