Crypto Currency Cognizance: A New Entrant in Financial Heaven
Vol. 4 No. 2 (2021), Articles
Vol. 4 No. 2 (2021)

Crypto Currency Cognizance: A New Entrant in Financial Heaven

Articles
https://doi.org/10.51153/kjcis.v4i2.71
Published 2021-07-01
Sarwat Liaqut
Iqra University
Ammar Siddiqui
University of Witwatersrand, Johannesburg, South Africa
PDF

Keywords

Cryptocurrencies, behavioral intention, Perceived Risk, Financial literacy, facilitating conditions

How to Cite

Liaqut, S., & Siddiqui, A. (2021). Crypto Currency Cognizance: A New Entrant in Financial Heaven. KIET Journal of Computing and Information Sciences, 4(2), 15. https://doi.org/10.51153/kjcis.v4i2.71
ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver

Download Citation

Endnote/Zotero/Mendeley (RIS) BibTeX

Abstract

Cryptocurrency used an online ledger with highly strong cryptography to secure online transactions. There are multiple cryptocurrencies traded publically that imparts an important role on the behavioral intention of users. The disruption in the economy of the world has provided some opportunities for the development of virtual money or cryptocurrencies so that financial crises of individuals can be removed. The study adapted Theory of Acceptance Model (TAM) that explains the factor that effect behavioral intention of the users of cryptocurrency. The data was collected through survey questionnaire from 177 participants to measure the impact of cryptocurrency on the behavioral intention of users. The findings of this study revealed that multiple factors such as social influence, facilitating conditions, financial literacy, and perceived risk of cryptocurrency imparts an important role on the behavioral intention of individuals to use cryptocurrencies. Moreover the findings will propose numerous methods to function with a greater chance of success in the block chain-related services and cryptocurrencies markets.

https://doi.org/10.51153/kjcis.v4i2.71
PDF

References

Albayati, H., Kim, S. K., & Rho, J. J. (2020). Accepting financial transactions using blockchain technology and cryptocurrency: A customer perspective approach. Technology in Society, 62, 101320.

Alaeddin, O., & Altounjy, R. (2018). Trust, technology awareness and satisfaction effect into the intention to use cryptocurrency among generation Z in Malaysia. International Journal of Engineering & Technology, 7(4.29), 8-10.

Al-Amri, R., Zakaria, N. H., Habbal, A., & Hassan, S. (2019). Cryptocurrency adoption: current stage, opportunities, and open challenges. International Journal of Advanced Computer Research, 9(44), 293-307.

Alqaryouti, O., Siyam, N., Alkashri, Z., & Shaalan, K. (2019, December). Users’ Knowledge and Motivation on Using Cryptocurrency. In European, Mediterranean, and Middle Eastern Conference on Information Systems (pp. 113-122). Springer, Cham.

Alzahrani, S., & Daim, T. U. (2019, August). Analysis of the Cryptocurrency Adoption Decision: Literature Review. In 2019 Portland International Conference on Management of Engineering and Technology (PICMET) (pp. 1-11). IEEE.

Arias-Oliva, M., Pelegrín-Borondo, J., & Matías-Clavero, G. (2019). Variables influencing cryptocurrency use: a technology acceptance model in Spain. Frontiers in Psychology, 10, 475.

Boukis, A. (2019). Exploring the implications of blockchain technology for brand–consumer relationships: a future research agenda. Journal of Product & Brand Management.

Gazali, H. M., Ismail, C. M. H. B. C., & Amboala, T. (2018, July). Exploring the intention to invest in cryptocurrency: The case of bitcoin. In 2018 International Conference on Information and Communication Technology for the Muslim World (ICT4M) (pp. 64-68). IEEE.

Gil-Cordero, E., Cabrera-Sánchez, J. P., & Arrás-Cortés, M. J. (2020). Cryptocurrencies as a Financial Tool: Acceptance Factors. Mathematics, 8(11), 1974.

Gillies, F. I., Lye, C. T., & Tay, L. Y. DETERMINANTS OF BEHAVIORAL INTENTION TO USE BITCOIN IN MALAYSIA.

Guych, N., Anastasia, S., Simon, Y., & Jennet, A. (2018). Factors influencing the intention to use cryptocurrency payments: An examination of blockchain economy.

Gupta, S., Gupta, S., Mathew, M., & Sama, H. R. (2020). Prioritizing intentions behind investment in cryptocurrency: a fuzzy analytical framework. Journal of Economic Studies.

Heidari, H., Moosakhani, M., Alborzi, M., Divandari, A., & Radfar, R. (2018). Evaluating the Factors Affecting Behavioral Intention in Using Blockchain Technology Capabilities as a Financial Instrument. Journal of Money And Economy, 13(2), 195-219.

Jani, S. (2018). The Growth of Cryptocurrency in India: Its Challenges & Potential Impacts on Legislation. Research gate publication.

Jonker, N. (2019). What drives the adoption of crypto-payments by online retailers?. Electronic Commerce Research and Applications, 35, 100848.

Mendoza-Tello, J. C., Mora, H., Pujol-López, F. A., & Lytras, M. D. (2018). Social commerce as a driver to enhance trust and intention to use cryptocurrencies for electronic payments. IEEE Access, 6, 50737-50751.

Mehrwald, P., Treffers, T., Titze, M., & Welpe, I. (2019). Blockchain technology application in the sharing economy: a proposed model of effects on trust and intermediation.

Mutambara, E. (2019). Predicting FinTech innovation adoption in South Africa: the case of cryptocurrency. African Journal of Economic and Management Studies.

Nadeem, M. A., Liu, Z., Pitafi, A. H., Younis, A., & Xu, Y. (2021). Investigating the Adoption Factors of Cryptocurrencies—A Case of Bitcoin: Empirical Evidence From China. SAGE Open, 11(1), 2158244021998704.

Nasri, W., & Charfeddine, L. (2012). Factors affecting the adoption of Internet banking in Tunisia: An integration theory of acceptance model and theory of planned behavior. The journal of high technology management research, 23(1), 1-14.

Palos-Sanchez, P., Saura, J. R., & Ayestaran, R. (2021). An Exploratory Approach to the Adoption Process of Bitcoin by Business Executives. Mathematics, 9(4), 355.

Panova, ?. ?., Leheza, Y. ?., Ivanytsia, A. V., Marchenko, V. V., & Oliukha, V. G. (2019). International Models of Legal Regulation and Ethics of Cryptocurrency Use: Country Review.

Saleh, A. H. A. I., Ibrahim, A. A., Noordin, M. F., & Mohadis, H. M. (2020). Factors Influencing Adoption of Cryptocurrency-Based Transaction from an Islamic Perspective. Global Journal of Computer Science and Technology.

Schaupp, L. C., & Festa, M. (2018, May). Cryptocurrency adoption and the road to regulation. In Proceedings of the 19th Annual International Conference on Digital Government Research: Governance in the Data Age (pp. 1-9).

Sharif, S. P., & Naghavi, N. (2020). Online Financial Trading among Young Adults: Integrating the Theory of Planned Behavior, Technology Acceptance Model, and Theory of Flow. International Journal of Human–Computer Interaction, 1-14.

Shaalan, K. (2020, April). Users’ Knowledge and Motivation on Using Cryptocurrency. In Information Systems: 16th European, Mediterranean, and Middle Eastern Conference, EMCIS 2019, Dubai, United Arab Emirates, December 9–10, 2019, Proceedings (Vol. 381, p. 113). Springer Nature.

Sun, W., Dedahanov, A. T., Shin, H. Y., & Kim, K. S. (2020). Switching intention to crypto-currency market: Factors predisposing some individuals to risky investment. PloS one, 15(6), e0234155.

TAMPHAKDIPHANIT, J., & LAOKULRACH, M. (2020). Regulations and Behavioral Intention for Use Cryptocurrency in Thailand. Journal of Applied Economic Sciences, 15(3).

Venkatesh, V., & Davis, F. D. (2000). A theoretical extension of the technology acceptance model: Four longitudinal field studies. Management science, 46(2), 186-204.