Blockchain is most used for trading purposes related to cryptocurrency in the form of bitcoins. This chapter seeks to highlight the broader perspective on using blockchain technology. It is mainly to elucidate the concept of blockchain and cryptography-related security and how these two can provide helpful solutions to trust problems about data. The chapter describes how blockchain technology can help in tracking the medical supplies of infected individuals. The research work consists of a theoretical elucidation of major concepts about blockchain technology and its applications. The adoption of Blockchain by Fintech companies has redefined itself in many ways over the years. The investment in blockchain technology is directly linked to the various sectors that see lucrative business opportunities because of deploying distributed ledger technology. Fintech Companies have emerged as the major service providers who refine the experience of their clients by leveraging upon the knowledge pool and resources available to them.
The Internet of Things (IoT) and blockchain are new concepts in the world of technology and communication, and communication in them is provided for any creature (human, objects), the ability to send data through communication networks, whether the Internet or intranet. IoT is known as one of the most important axes of future technology and has received considerable attention from all industries. Today, a large number of different parts of the Internet of Things are designed only for specific businesses, which indicates the acceptance of a large number of organizations to use this equipment, and of course, various technologies are also used in this field, including artificial intelligence and cloud computing. The purpose of this research is to investigate the use of Internet of Things in business and its business models. There are also frameworks for the easier development of business models, which this article is the framework of business models in electronic commerce for the program. Internet of Things and Blockchain according to the research/interview literature. These frameworks can be used by developers as a starting point for creating a business model for IoT and blockchain applications in developing countries.
Purpose This study aims to investigate the influence of perceived government control (PGC) on cryptocurrency adoption and continuance intention among Indians through an integrated model of the extended Unified Theory of Acceptance and Use of Technology (UTAUT) with the Information System Success Model (ISSM). Design/methodology/approach This study examined the items of cryptocurrency adoption, continuance intention and PGC adopted from the information systems and cryptocurrency literature. The survey was administered to 391 Indians through an online questionnaire. Partial least squares structural equation modeling was used to analyze data. Findings Results have shown that social influence, effort expectancy and perceived trust are the major drivers for cryptocurrency adoption. All paths leading to cryptocurrency adoption were found to be significant in the hypothesized directions. The study also found that PGC moderates the relationship between adoption and continuance intention. Originality/value This study advances existing literature by empirically verifying the integrated UTAUT and ISSM in the context of cryptocurrency adoption for investment purposes. The findings offer crypto-developers and crypto-exchange insight into how adoption is diffusing in emerging markets. The findings provide policymakers with meaningful insights into the role of government regulations in cryptocurrency continuance intention.
Blockchain technology might change healthcare by increasing patient experience (Px) in terms of patient-centeredness, trust, transparency, and medical data ownership. However, healthcare blockchain-Px research is few. This study aims to enhance healthcare blockchain deployment from a Px standpoint. Three particular aims are to (1) perform a complete literature assessment of current research on blockchain technology and Px in healthcare, (2) identify gaps in existing research and suggest a strategy to bridge the gap between blockchain technology and Px, and (3) evaluate value co-creation. A narrative review was utilized to seek and examine 2017â2022 literature. "Blockchain," "patient experience," "digital health," "customer experience," "healthcare," "telemedicine," "eHealth," "value co-creation," and "blockchain implementation" were searched in PubMed, Google Scholar, and Scopus. Inclusion and exclusion criteria ensured that only relevant content was reviewed. Review focus, research design, and article publication dates determined the criteria. The literature was summarized to highlight main themes and research gaps. Blockchain technology may create more patient-centered, data-driven healthcare systems, the analysis concluded. It also emphasized the risks and challenges of using blockchain technology in healthcare, such as changing the therapeutic relationship between patients and clinicians and preserving patients' medical data. Blockchain technology in healthcare requires patient-provider value co-creation. The review suggested bridging blockchain technology with Px and suggested additional study. Blockchain technology in healthcare, value co-creation for effective adoption, and web3 apps' effects on Px need further study.
Blockchain is rapidly becoming established as the core technology of the Fourth Industrial Revolution. By combining blockchain to improve processes in existing industries, innovative new services will emerge, but services not effectively applied by blockchain will also develop. This study investigated the factors to be considered when applying the characteristics of blockchain technology to business. We developed a framework of blockchain service utility evaluation indexes using the analytic hierarchy process method. The Delphi method is used to identify highly effective blockchain application service cases by applying the evaluation framework to actual use cases in the public sector. By proposing a framework of utility evaluation factors for blockchain application services, this study provides a systematic foundation for blockchain business review. We address the question of "why blockchain should be applied to this service" by providing a more comprehensive approach than existing research, such as a fragmentary decision tree. Blockchains are expected to become more active along with the full-scale digital transformation of industries, and thus, we must examine the ways to broadly use blockchain as a base technology in a form applicable to the diverse industries and societies constituting the digital economy. Accordingly, this study presents an evaluation solution for promoting efficient policies and developing successful blockchain application services.
Earlier research has relied on well-established technology acceptance models to investigate the adoption of blockchain technology (BCT) in various domains. However, citing criticism from other scholars, we show that this approach is severely limited because of portraying users as passive absorbers of technology, failure to recognise that users can find novel applications for the technology, triviality of the results, inability to add new insights and creating the âillusion of cumulative tradition.â Therefore, departing from this earlier approach, the current study mobilises Cultivation Theory (CT) and Elaboration Likelihood Model (ELM) to propose and empirically investigate the direct impact of mass media, social media and technophilia as well as moderating impact of technophilia on BC adoption intentions at a more general level. Responses collected through a structured questionnaire from 416 professionals working in different Pakistani organisations were used to test the proposed model by application of PLS-SEM. The results of the study indicate that mass media, social media and technophilia positively and significantly affect an individual's intention to adopt blockchain technology. In addition, technophilia moderates social and mass media influence on the intention to adopt blockchain technology. The study makes a major theoretical contribution to BCT adoption scholarship.
Non-fungible tokens (NFTs) are unique digital assets that have recently gained significant popularity, particularly in the digital art sector. The success of NFTs and other blockchain-based innovations depends on their ac-acceptance and use by consumers. This study aims to understand the impact of moral values on the acceptance of NFTs. Based on a quantitative survey with over 800 complete responses, the analysis shows that moral aspects of NFTs are indeed important for potential users. However, there is an attitude-behavior gap, as the positive impact of moral values on the intention to use NFTs is not reflected in the actual current usage of NFTs by the respondents. This study contributes to knowledge by providing new empirical data on the acceptance of NFTs and highlighting the role of moral values on the acceptance decision.
This study aims to investigate the factors that can predict the behavioral intention of students at public universities in Saudi Arabia to use Cryptocurrency. The UTAUT model was enhanced with the incorporation of security and awareness to develop the theoretical model for this investigation. The paper investigates the impact of performance expectancy, effort expectancy, facilitating condition, social influence, security, and awareness on the behavioral intention to use Cryptocurrency. The moderating role of financial literacy was also investigated on the associations between the proposed adoption factors and the behavioral intention to use Cryptocurrency. SmartPLS 3.2.8 software was used to analyse 344 responses collected via an online survey. The Findings showed that performance expectancy, effort expectancy, social influence, security, and awareness positively impact on behavioral intention to use Cryptocurrency. Moreover, financial literacy moderates the associations between performance expectancy, security, social influence, and behavioral intention. The findings offer valuable insights to Cryptocurrency users, Cryptocurrency developers, and the government of the KSA.
Fernando GarcĂa-MonleĂłn, Anett Erdmann, RamĂłn Arilla
The use of cryptocurrencies offers attractive business opportunities, in the context of financial services, smart contracts and token-based business models. The objective of this study is to provide a value-based understanding of what drives people to use cryptocurrencies for value exchange. Based on the usersâ perceived value of the technology, as logic of decision making, we explore the role of perceived financial value and the perceived emotional value in the intention to use the technology. The unified technology adoption theory provides the potential drivers of these value concepts, which are extended accounting for sustainability. Furthermore, to capture usersâ evolving experience with blockchain technologies, we propose the concept of the cryptocurrency knowledge path, capturing the scope and depth of usersâ knowledge on the applicability of cryptocurrencies, as potential influence on the value concepts in the decision to actively use cryptocurrencies. For the analysis, a structural model is set up and estimated using partial least square analysis (PLS-SEM). We identify a positive effect of both value concepts, financial and emotional value, on the intention to use cryptocurrencies. However, interestingly, we find that the emotional value assessment is fully mediated through the knowledge path. Furthermore, we find that environmental sustainability considerations are fully mediated through either of the two value concepts. These results provide guidance for a customer-centric, sustainable design and marketing of crypto-projects.
Despite the well-documented benefits and encouraging policy environment for blockchain technology (BT), its extensive adoption in the construction industry is still unsolved. The interorganizational diffusion of BT is not explored in existing studies, requiring a comprehensive investigation for better government policymaking. Thus, from the technology diffusion perspective, this paper proposes an evolutionary game-based system dynamics (EG-SD) model to describe the complicated relationships between government and construction enterprises in the process of BT adoption. Through theoretical analysis, the main stakeholders, influencing factors, and diffusion channels in the process of BT adoption are identified. Further, a simulation collecting data from Chinaâs construction industry is conducted to evaluate the diffusion performance under different scenarios. This study contributes to the body of knowledge by providing a quantitative perspective for understanding BT adoption behaviors among construction enterprises and revealing the diffusion mechanism of BT from a multilevel perspective. Also, this paper for the first time combines evolutionary game theory with system dynamics into explaining BT adoption, providing practical implications to both government and construction enterprises on policymaking and promoting BT adoption practices.
Non-Fungible Tokens (NFTs) have reached enormous levels of interest all over the world; The attraction was huge besides buying or creating an NFT. However, the actual use requires consideration of many aspects and sources to make decisions and engage in the NFT market. Moving forward and selecting what to create or where to buy, it is necessary to assess the NFT and whether it is worth investing in or not. On the other hand, Metaverse has become a trending topic and market interest has increased dramatically. However, NFT is crucial to enable the Metaverse; NFT approved its essential to the success of Metaverse adoption. In conclusion, this choice is complicated, especially when it involves extensive knowledge and information from different sources and perspectives (Engineering and Social Science). Some aspects are related to the customer experience and trust, and others are more likely to be asset-related. As we look at the blockchain market, we distinguish a variety of platforms and applications that can be used conveniently, presenting numerous options and possibilities. That brings to mind some ideas and asks some questions to assist the engagement in the NFT metaverse; When is the best moment to engage in the NFT metaverse? Is trading or engaging in the NFT metaverse trustworthy? Is it legal to use and trade NFTs, is there any need for governments to get involved? What NFT piece should create or what price to buy? What is the best and most secure platform to use? Assessing the NFTs requires deep research into different sources of controversial information and data. However, no such reference or study covers these considerations in detail; the lack of trusted resources and knowledge impacts the user experience and engagement. This paper contributes to social science studies by performing a multi-factor (comprehensive) analysis that includes the NFT Metaverse engagement decision and user behavior. We are using an extended model of the theory of planned behavior (TPB), proposing a model which includes external factors to help identify the variables that influence the engagement with NFTs in the metaverse. This comprehensive study has a multi-perspective approach; customer perspective, social perspective, technology perspective, legal perspective, and market perspective. We present extensive knowledge and information to be a helpful piece of awareness for everyone who intends to buy, invest, or create an NFT. This study uses a quantitative analysis method and provides meaningful results explaining this dilemma and the reasons behind the massive adoption of NFT and its fluctuation worldwide. This work helps the decision-makers, creators, and investors consider new development perspectives in the NFT metaverse. The methodology used primary survey data and analyzed with Smart-PLS 4 to determine variance-based structural equation modeling (SEM) using the partial least squares path modeling (PLS) method.
Athapol Ruangkanjanases, Eissa Mohammed Ali Qhal, Khaled Mofawiz Alfawaz, Taqwa Hariguna
Blockchain is considered one of the key technologies that can accelerate the Industrial Revolution 4.0. The intention to use Blockchain can still be improved in several ways, and how users perceive Blockchain is likely to be influenced by how well they understand the underlying theory. This study examines several important factors, namely government regulation, social influence, perceived security, and Blockchain functional benefits, to measure trust and satisfaction with relationship quality, which may influence the intention to use Blockchain. A sample of 460 people participated in the online questionnaire survey, which was then evaluated with SmartPLS 3. The findings reveal that the social influence and Blockchain functional benefits have a substantial impact on relationship quality, which further results in a positive impact on Blockchain usage intention as well. This study can serve as a reference for companies that need to consider the factors discussed in this study when implementing Blockchain technology to achieve marketing goals and generate sustainable Blockchain usage intentions.
Purpose Blockchain can track the material from the manufacturer to the end customers. Therefore, it can ensure the product's authenticity, transparency and trust in the retail supply chain (SC). There is a need to trace and track the retail products before it reaches the customers to check the quality of the products so that expired products can be recycled and reused, which in turn will help gain customers' trust. This research aims to investigate retail employees' behavioural intention to adopt blockchain in the retail SC. Design/methodology/approach To examine the behavioural intention of employees in the retail SC, the research uses three theories â the technology acceptance model; the unified theory of acceptance and use of technology; and the theory of planned behaviour. The technology acceptance model measures the employee's acceptance of blockchain in the retail SC. The unified theory of acceptance is used in this research to measure how blockchain adoption will improve the performance of the employees. The theory of planned behaviour is used in this research to measure whether the employees intend to adopt blockchain. A survey was carried out in the retail stores of India. Exploratory factor analysis and structural equation modelling were used for data analysis. Findings This study found that the employees of the retail stores have a positive intention and attitude to adopt blockchain technology. Further, it was found that perceived behavioural control and effort expectancy was not promoting blockchain adoption in the retail sector. Practical implications This study will help the retail stores' employees understand the blockchain in their operations and will motivate the top management of the retail companies to adopt this technology. The study is limited to the retail SC in India only. Originality/value This study uses three theories technology acceptance model; the unified theory of acceptance and use of technology; and the theory of planned behaviour, which were not used in earlier studies of blockchain adoption in the retail SC.
Developments in the field of internet technologies have changed traditional shopping behaviors and led consumers to shop online on electronic commerce sites. Developments in the field of electronic commerce have also diversified payment systems and virtual currencies have started to be used in payments. When it comes to virtual currencies, the first concept that comes to mind recently is cryptocurrencies. Cryptocurrencies, which are seen as investment instruments, have started to be used as payment methods by many brands in the global market. At this stage, the basis of the research is to reveal the intention of consumers in Turkey to use cryptocurrencies in online shopping. The goal of the study, which was conducted within the framework of the Technology Acceptance Model, was to discover the implications of consumers' perceptions of cryptocurrencies' ease of use, risk, and trust factors on their perceived benefit and intention to use cryptocurrencies in online purchasing. For this aim, it was discovered that perceived ease of use and trust have a significant positive effect on perceived benefit, while perceived risk has a significant negative effect, based on the analysis of data obtained from 391 customers via the online survey technique. In addition, perceived ease of use, trust and benefit also positively affect the intention to use cryptocurrency in online shopping. It is concluded that the perceived risk factor does not affect the intention to use cryptocurrency in online shopping. The findings provide significant theoretical and practical contributions to the fields of cryptocurrency and electronic commerce.
Dhanya Pramod, S. Vijayakumar Bharathi, Kanchan Patil
This study explores the influence of the investorsâ personality dimensions on the Non-Fungible Tokens (NFT) technology readiness index (TRI) and financial instrument-specific factors of technology acceptance. The survey comprised of 197 respondents. The responses-data were tested on the conceptual model using SEM (structural equation modeling). TRI 2.0 explored customersâ predispositions towards NFT investments. Mental enablers and inhibitors explained NFT perceived value and NFT perceived trust. The research found that the enabler of TRI (innovativeness) and inhibitors of TRI (insecurity and discomfort) along with perceived trust significantly affect the NFT investment intention It was also found that optimism and perceived value for NFT did not significantly impact NFT investment intentions. These research results shall facilitate government, NFT marketplaces, brands, and private organizations to prioritize TRI enablers and decrease inhibitors to ensure successful NFT investments.
The research, in its general lines, tends to open an interpretative perspective on the fact that the bitcoin and blockchain (BTC-BC) phenomenon could be defined primarily through the social learning lens, and in that case would be considered a privileged way to investigate humans' behavior related to the emergent innovations, considering voluntariness in information seeking as antecedent of reduced reticence to acceptance. The approach inherent in the analysis proposed should be considered as exploratory and embryonic, but interesting and crucial for a seminal investigation of the field, due to the rapid emergence of the phenomenon object of the study. The main implication of the interpretative paradigm provided on the BTC-BC scene, considering the social learning view, could be found on the managerial side, thanks to the possible indirect knowledge-based strategy, able to shape an informed social context, promoting the future probable and potentially facilitated application of âdisruptiveâ technologies in several work environments.
The maritime operations present several pain points, such as low transparency, poor paperless efficiency, and difficult trust management among supply chain participants. Blockchain is emerging as an innovative technology that solves pain points of maritime operations. Blockchain adoption in the maritime literature remains scarcely investigated, especially in identifying potential factors that may affect blockchain adoption intention. Based on the technological-organizational-environmental (TOE) framework, this study develops the research model to examine the determinants of blockchain adoption intention. Data collected from 161 firms in Taiwanese maritime industry were used to test the hypotheses in the research model. The findings revealed that knowledge absorption capability is the most important enablers of blockchain adoption in the organizational context, followed by perceived relative advantage in the technological context, and trading partner influence in the environmental context. Unexpectedly, perceived complexity does not appear to be decisive in predicting blockchain adoption intention. This study also discusses theoretical and managerial implications by providing valuable insights into the determinants of blockchain adoption intention.
Purpose â This study tries to find out what factors influence the intention to use cryptocurrency from a social and religious perspective using Self Determination Theory (SDT) and Theory of Planned Behavior (TPB).Methodology â Respondents were chosen using purposive sampling targeting z generation and analyze using Structural Equation Modeling - Pooled Least Square (SEM-PLS). 100 respondents took part in this study and analyze using SmartPLS 3.2.9 Software.Findings â The result of this study indicates that FoMO and Islamic financial literacy does not have influences on intention to use cryptocurrency while Attitude has a positive effect on intention to use cryptocurrency. The other finding of this study is religiosity and subjective norms has influence on attitude while higher level of religiosity will increase the Islamic financial literacy.Implications â Theoretically, this study contributes to financial behavior and financial technology study. Practically, this study can be used by developer of sharia investment platform to optimize their product. Because even all of our respondents are a moslem, majority of them didnât investing in sharia product but also donât have intention to engage in Cryptocurrency. Originality â We believe this study is the first empirical study that investigates the intention to use cryptocurrency from a religious perspective, specifically Islamic financial literacy.
Purpose This study investigated the internal factors that influence the adoption of cryptocurrencies for remittance transactions in the United Arab Emirates (UAE) by examining the relationships between behavioural intention (BI) and perceived risk (PR), as well as the mediating effect of consumer innovation (CI). Design/methodology/approach The authors developed a structural model using scales from the literature. The authors distributed an online questionnaire, evaluated by five cryptocurrency experts, using a snowball approach and collected 270 responses. Findings The results revealed that CI mediates the relationship between PR and BI. Also, CI enhances intentions to use cryptocurrencies for remittance transactions. However, PR has a negative impact on BI. Research limitations/implications This research adds to the body of knowledge by examining the acceptance and implementation of cryptocurrencies in the UAE and by developing and evaluating new constructs based on current notions. The study also contributes to the current understanding of cryptocurrencies and blockchain adoption. This article focusses on the mediating impact of CI on intentions to employ cryptocurrency instruments for international money transfers. Practical implications The conclusions of the research give advice for marketers on how to boost the commercialisation of cryptocurrencies in the UAE remittance market and may pave the way for other studies to assist impending developments in the UAE cryptocurrency industry. Originality/value This research offers novel insights into CI as a significant predictor of bitcoin product uptake in the remittance business.
Purpose Though Blockchain has been studied in numerous contexts, the understanding of the impacts of Blockchain in achieving competitive advantages remains unexplored. Many industries, organizations and firms are still in a âwait and seeâ mode. This study aims at examining the effects of the technological, organizational and environmental factors drawn from the TOE framework in generating competitive advantage. Design/methodology/approach A dual-staged deep learning structural equation modeling artificial neural network analysis was conducted on 211 samples of small and medium enterprises. Four neural network models were engaged to rank the normalized importance of each of the predictor variables. Findings The research model can expound 57.99 and 47.33% of the variance in Blockchain adoption and competitive advantage correspondingly. The study successfully identified nonlinear relationships. The theoretical and managerial contributions are useful to scholars and practitioners such as industrial players, investors, chief executive officers (CEOs), managers, decision-makers and other stakeholders that intend to use Blockchain technology. Originality/value Unlike the existing technologicalâorganizationalâenvironmental (TOE) framework that uses a linear model and theoretically assumes that all relationships are linear, this has been the first study, which has successfully validated that there exist nonlinear relationships in the TOE framework. Further, very little has been theorized on the impacts of Blockchain adoption on competitive advantage, especially in the context of SMEs. Therefore, this study is the first one to provide the necessary theoretical foundation that may further extend the current knowledge of Blockchain technology adoption and its impacts.