Abstract The purpose of this research is to identify the development of e-commerce technology in the business world, and the benefits of the application of e-commerce in the online business. The method used in this research was the descriptive method to present a complete overview of the situation related to some variable situations examined. The result of this research is to give clear identification of how far the development of e-commerce technology in the world of online business, as well as the benefits provided by the application of e-commerce in the world of online business. In the end, bitcoin gives mutual connection to expand the business of E-commerce.
While Blockchain is heralded as an industry โgame changerโ, empirical studies have yet to demonstrate how it has positive performance impacts. Building on emerging blockchain research and the information technology adoption literature, this study develops a research model that links blockchain adoption in the supply chain to competitive performance through process innovation and relational innovation. The study uses data collected from 344 supply chain professionals working in companies with Blockchain experience and partial least squares modelling to test the proposed model. The results support the research model and confirm that competitive performance is directly improved through blockchain adoption and also indirectly through blockchain-enabled process and relational innovation. Our findings advance practice and theory by contributing to the emerging literature on blockchain and enriching our understanding of the performance impacts of blockchain adoption and use in the supply chain.
Purpose Financial technology innovation within the developed world is driving financial markets, yet its adoption is lagging among consumers in emerging markets. At the same time, most African economies continue to be at the tail end of global financial innovations adoption. Given lagging consumer adoption of cryptocurrency in South Africa, the purpose of this paper is to apply the theory of planned behaviour (TPB) to predict behavioural intention to adopt cryptocurrency. Design/methodology/approach A survey instrument based on the TPB was used to collect quantitative data for predicting adoption from adult distance students at the Mancosa, Cape Town campus. For data analysis, the two-step structural equation modelling approach was used. Findings The findings indicate that attitude and perceived behavioural control positively impact the intention to adopt cryptocurrency. Subjective norm showed a negative non-significant influence. Overall, the results of the study show that the model has a good model fit and can be used to explain the theory. Research limitations/implications The results of this study may not be generalisable to the wider population as it is only based on a cross-sectional study of a sample of adult students at a single institute in South Africa. Originality/value The contribution of this paper is threefold: it is one of a few studies on the behavioural intention to adopt cryptocurrency in South Africa using the TPB model, it contributes towards the use of predictive behavioural economics models in understanding consumer behaviour critical to accelerating the adoption of financial innovations, and the results of the study also inform behaviour change strategies that can be applied by practitioners or policymakers to improve adoption. Studies of this nature may lead to the development of financial innovation in emerging markets through a nuanced understanding of consumer behaviour.
Yong Sauk Hau, Jae Min Lee, Jaechan Park, Min Cheol Chang
BACKGROUND: The recently developed blockchain technology uses a peer-to-peer network to distribute data to all participants for storage. This method enhances data safety, reliability, integrity, and transparency. To successfully introduce blockchain technology to medical data management, it is essential to obtain consent from medical doctors and patients. OBJECTIVE: The aim of this study was to examine medical doctors' and patients' attitudes toward the use of blockchain technology and interpret the findings within the framework of expectancy theory. METHODS: In this questionnaire survey, we examined medical doctors' (n=90) and patients' (n=90) attitudes toward the use of blockchain technology in the management and distribution of medical information. The questionnaire comprised 8 questions that assessed attitudes toward new means of managing and distributing medical information using blockchain technology. Responses were rated on a scale that ranged from 1 (very negative) to 7 (very positive). RESULTS: Medical doctors (mean 3.7-5.0) reported significantly more negative attitudes than patients (mean 6.3-6.8). Furthermore, self-employed doctors reported more negative attitudes than employed doctors and university professors. CONCLUSIONS: To successfully introduce blockchain technology to medical data management, it is necessary to promote positive attitudes toward this technology among medical doctors, especially self-employed doctors.
From a consumersโ perspective, Blockchain Technology (BCT) holds the potential to decrease transaction costs, improve privacy and redesign social interactions, which potentially leads to enhanced consumer power in transactional relationships. Nevertheless, only a few consumers use Blockchain-based applications consciously. By combining earlier research about BCT acceptance with different conceptualisations in the technology acceptance field (i.e. the Technology Acceptance Model and Rogersโ Diffusion Theory), a Blockchain-specific model to explain the usage intention has been developed and validated by conducting an online survey among 157 German consumers. While most of them have recognised the technologyโs existence and confirmed its general relevance, many consumers do not know how to access and profit from BCT. Integrating the results of a Structural Equation Model and Pairwise Comparisons between typical attributes of Blockchain-based applications, specific beliefs about BCT usage are found to have a remarkable impact on consumersโ acceptance. Based on the results, strategies to promote the acceptance of BCT among consumers are discussed from a marketerโs, developerโs and researcherโs point of view.
Rongen Zhang, Amrita George, Jongwoo Kim, Veneetia Johnson ยท 5 authors
BACKGROUND: The potential of blockchain technology to achieve strategic goals, such as value-based care, is increasingly being recognized by both researchers and practitioners. However, current research and practices lack comprehensive approaches for evaluating the benefits of blockchain applications. OBJECTIVE: The goal of this study was to develop a framework for holistically assessing the performance of blockchain initiatives in providing value-based care by extending the existing balanced scorecard (BSC) evaluation framework. METHODS: Based on a review of the literature on value-based health care, blockchain technology, and methods for evaluating initiatives in disruptive technologies, we propose an extended BSC method for holistically evaluating blockchain applications in the provision of value-based health care. The proposed method extends the BSC framework, which has been extensively used to measure both financial and nonfinancial performance of organizations. The usefulness of our proposed framework is further demonstrated via a case study. RESULTS: We describe the extended BSC framework, which includes five perspectives (both financial and nonfinancial) from which to assess the appropriateness and performance of blockchain initiatives in the health care domain. CONCLUSIONS: The proposed framework moves us toward a holistic evaluation of both the financial and nonfinancial benefits of blockchain initiatives in the context of value-based care and its provision.
The main idea of the study was to determine the influence of the antecedents (trialability and compexity) on the existing constructs of Technology Acceptance Model (TAM) and to test measurement invariance on the relationship between the latent constructs used in this extended version of Technology Acceptance Model (ETAM). A survey questionnaire was administered on Cyptocurrency mobile applicantions users and a total of 41 responses were collected. The research model was assessed using SEM-PLS approach. The structural model was then tested in order to establish validity & reliabelity. The invariance test was first performed on the measurement model and then on the structural model using SmartPLS 3.0. The predictor variables in ETAM were able to explain 44,9% of the variance in actual usage of Cryptocurrency mobile applications.
Yoon-Chow Yeong, Khairul Shafee Kalid, Savita K. Sugathan
Since the inception of the first cryptocurrency in 2008, cryptocurrency has been receiving global attention from the public, media, merchants and regulators. Although the general sentiment suggested cryptocurrencies which leverage on blockchain technology might eventually replace the paper currency as the mainstream currency, the Malaysian regulators are still unsure that a well-established cryptocurrency ecosystem can come into place anytime soon. Unfortunately, there is a lack of cryptocurrency acceptance study, particularly in Malaysia (developing country context). Hence, this paper aims to propose a research model that integrates cryptocurrency dimension antecedents with Unified Theory of Acceptance and Use of Technology2 (UTAUT2) constructs to examine the factors that influence cryptocurrency acceptance. This study employs a quantitative approach by collecting online survey questionnaire data through the means of cryptocurrency community group on social media. The survey instrument was reviewed by four experts from the field of blockchain and 36 responses have been gathered from individuals who have cryptocurrency knowledge for pilot study. To further evaluate the reliability and validity of the proposed measures, the measurement model was assessed using structural equation modeling (SEM) technique with partial least square approach (PLS). SmartPLS software was used for PLS-SEM analyses. In this paper, the proposed research model contributes a high-level overview of and valuable insights into the potential cryptocurrency acceptance factors to regulatory bodies, practitioners as well as prospective cryptocurrency users. The findings of pilot study confirm that the measurement items and constructs in the proposed model are reliable and valid.
Redhwan Al-Amri, Nur Haryani Zakaria, Adib Habbal, Suhaidi Hassan
In this research, a Systematic Literature Review (SLR) is performed to identify the carried-out research topics related to cryptocurrency adoption and models that have been used as well as the current adoption challenges that need to be overcome in future studies.
Kyleen W. Prewett, Gregory L. Prescott, Kirk Phillips
Abstract Blockchain technology possesses a vast potential to transform traditional business models. Savvy business executives are already exploring how blockchain might impact their industries and their competitive positions within those industries. Yet, there are significant barriers and risks associated with blockchain technology. In this article, we highlight some of the major obstacles and risks associated with this transformative technology. The topics discussed here are neither definitive nor comprehensive; however, they provide accounting and finance professionals with a timely introduction to the barriers and perils related to blockchain technology. Although blockchain adoption is inevitable for business enterprises, careful consideration of the risks and challenges before, during, and after blockchain implementation will help ensure longโterm success.
Purpose The purpose of this paper is to determine the stakeholdersโ acceptance on blockchain and to investigate the model fit by using โTechnology Acceptance Modelโ with special reference to corporate governance through cryptography to resolve the decades-old problems of financial record-keeping. Design/methodology/approach The whole analysis has been performed in the two steps, i.e. confirmatory factors analysis and structural equation modeling, to prove model fit between behavioral intention and actual behavior for using blockchain technology. Total 223 respondents have been selected, and the selection of the respondent is primarily on the basis of their previous experience with trading corporate equities. Findings The study determines empirically all the mentioned relationships of attitude, perceived ease of use and perceived usefulness with the behavioral intention as per the conceptual model to prove the relationship. The results of the manuscript shows the model fit indexes for various constructs are prove the model fit as per the theorized model. The values of the various indexes are found to be under the permissible range which explains the relationship of various constructs based on the theorized model. Research limitations/implications Despite, the limitations in terms of selection of sampling methods, outcome and the interpretation, the results proves the fit with the theoretical framework. The major implication is to understand the real-time use of blockchain technology for the transfer of shares from one party to other. Practical implications Stakeholders in corporate governance namely customers, creditors, suppliers, community, employees, owners, investors, trade unions and social activists could benefit in different ways. Investors could benefit from being able to purchase equity at low price and to sell them into a market with greater liquidity, but they would found it difficult to camouflage their trades. Social implications The study opines that virtually all aspects of the corporate governance can be improved through the adoption of this technology resulting in greater transparency, improved liquidity and lowering costs. Originality/value This study will be a reference for global players in the financial industry that have started investing in this innovative technology vis-ร -vis recent announcement of adoption of blockchain by global exchanges including NASDAQ, NYSE and Deutsche Borse, as a new method for trading, tracking ownership and monitoring systemic risk for strengthening corporate governance mechanism. This study will have a significant index for future reference where the technology adoption will be tested to have better corporate governance which will be useful for academics and professionals.
Distributed ledger technology allows for data to be recorded, shared, and synchronized across multiple distributed data stores. This brought forth the idea of using this technology to build consensus. Implementing this technology within the Syndicated Loan Market through Smart Contracts allows for reduced manual labor and back-office workloads as well as the removal of reconciliation and corporate actions. As a result, counterparty risk and settlement times will be minimized, and performance and transparency for regular reporting will increase. However, an individual's embrace of this new technology will determine its successful implementation. To address this issue, this article examines the trust model, trust in technology drivers, and the revised unified theory of acceptance and use of the technology model to construct the trust and adoption of the technology model. This article culminates in guidelines for the implementation of Smart Contracts. Avenues for future work include the investigation of a multimotive information systems acceptance model.
The purposes of the study are threefold: (1) develop key successful factors of blockchain platform for micro-enterprises based on Balanced Scorecard (BSC), (2) find out the correlation between the key successful factors of blockchain platform for micro-enterprises, and (3) understand the perception of micro-enterprise blockchain and the difference between theoretical guidance and practical application. This study combines Interpretative Structural Modeling Method, (ISM) and Decision-Making Trial and Evaluation Laboratory (DEMATEL) to analyze the causal relationships and hierarchical structures of the 12 key successful factors of blockchain platform for micro-enterprises and understand the correlation between factors. The 12 key successful factors developed based on the four perspectives of the Balanced Scorecard, and the questionnaire designs based on the concept of DEMATEL, and then analyzed data by DEMATEL and ISM methods to understand the correlation between key factors. The research results show that the key successful factors of blockchain platform for micro-enterprises include "brand equity", "security and anti-counterfeiting", "sales growth", "transparency and clear", "trust", "consensus mechanism", "traceability", "consistency", "tracking", "innovation management", "international", "organizational adaptation", in which consumer "trust" plays an important role. Micro-enterprises can use blockchain to expand the market, provide customers with better service quality, and bring sales growth to micro-enterprises.
Purpose The purpose of this paper is to examine usersโ decision-making mechanism of speculative investment behavior and its sequential consequences in the Bitcoin context from a dual-systems perspective. Design/methodology/approach Original data were collected via a survey of 334 participants with experience in Bitcoin speculative investment. The partial least squares method was used to test the proposed model. Findings Speculative investment behavior in the Bitcoin context is driven by strong impulse and weak self-control, leading to negative consequences. The extent of the imbalance between the two cognitive systems is greater with the subjective norm than without it, thus facilitating speculative investment behavior. Noteworthy differences in the impulse and self-control effects on Bitcoin speculative investment are found with differences in Bitcoin objective and subjective knowledge. Originality/value This study is the first attempt to empirically investigate usersโ decision-making mechanism used when speculating in Bitcoin.
In the recent years, there has been a massive attention toward cryptocurrency. The development of the blockchain technology has enabled the cryptocurrency to invade the financial industry by providing, to some extent, an alternative banking system with extra benefits such as lower cost of transaction, faster transaction processing, and higher level of privacy. Bitcoin is the first completely decentralized digital currency to exist in the cryptocurrency market. People have adopted cryptocurrency for several reasons. This adoption is a purchasing decision where the users make the adoption decision based on set of factors that matter to them. This paper aims at evaluating the factors impacting the cryptocurrency adoption decision. To do so, we have identified the factors that the users consider when making the purchasing decision based on a comprehensive review of recent literature and expert's inputs. The objectives of the paper are to: (1) identify the factors impacting the adoption decision, (2) and determine the ranking of these factors based on the quantification of users' judgments. This paper proposes a Hierarchical Decision Model (HDM) to understand the users' decision to adopt cryptocurrency. The model suggests four main perspectives that influence the adoption decision namely: economic, technical, social, and personal. Every perspective consists of set of related criteria. We then used the pairwise comparison method to assess the importance of the perspectives and criteria to the overall objective of the model. The findings of this study suggest that users evaluate and make their decision mostly from economic and social perspectives. The top criteria found to influence the cryptocurrency adoption decision are the investment opportunity, subjective norms, businesses acceptance, privacy, and global attention. This paper provides insights into the factors impacting the adoption decision and their importance level. It also helps the cryptocurrency developers to understand the consumers' adoption criteria to encourage cryptocurrency adoption.
Cryptocurrency is a recent and significant innovation in the financial industry. The goal is to offer a currency that is not tied, created, or backed by a government. Cryptocurrency use the Blockchain technology as the financial platform. Cryptocurrency adoption level has increased, and the market has grown dramatically. There have not been enough literature investigating the adoption and acceptance of the cryptocurrency by users. The aim of this paper is to fill the gap in the current literature by investigating the current cryptocurrency adoption level, adoption-influencing factors, providing an in-depth analysis of these factors and discussing some pitfalls surrounding the cryptocurrency adoption. We believe that despite the difficulty to find out an accurate number of cryptocurrency users, a good estimate can be made by studying the number of cryptocurrency exchange sites' users. In addition, the paper suggests that the main factors driving the adoption decision revealed from the literature review are the investment opportunity cryptocurrency forms, the anonymity of the transactions and privacy, the acceptance by businesses as a payment method, the fast transfer of funds, the low cost of transactions, and technological curiosity. The research findings help researchers, regulators, and cryptocurrency developers to better understand their consumer's intention toward cryptocurrency adoption.
Blockchain technology has become an epidemic and significant decision that organizations may make in the next few years, as integrated business solution enabling institutions to integrate business functions, operations, and processes in a decentralized distributed ledger technology. This technology will transform the business world and economy in solving the limitations created by centralization and system inefficiency. Accordingly, with the highly demanding and complexity of growing economies such as Gulf Cooperation Council GCC countries, the need for a typical solution technology is a game changer. The result of this will lead GCC to a solid base of the economy. Blockchain technology can be applicable in many different fields such as: banking, education, health care, finance, government, trade, etc. This article will propose a conceptual framework for the acceptance of Blockchain technology and innovation in the GCC, particularly in Saudi Arabia. Also, more research can be conducted in the future as the system might be integrated in these countries.