Cryptocurrencies as a Financial Tool: Acceptance Factors

Abstract

Cryptocurrencies are a new form of digital asset that operate through blockchain technology and whose purpose is to be used as a means of exchange. Some, such as bitcoin, have become globally recognized in recent years, but the uncertainty surrounding cryptocurrencies raises questions about their intended use. This study has the task of investigating the different factors that affect the intention behind the use of cryptocurrencies by developing a new research model and using Partial Least Squares (PLS) to assess it. The results show that all the constructs proposed have significative influence, either directly or indirectly, on the intention behind the use of cryptocurrencies. The findings provide value and utility for companies’ and cryptocurrencies’ intermediaries to formulate their business strategies.

Fuzzy Set Qualitative Comparative Analysis of Factors Influencing the Use of Cryptocurrencies in Spanish Households

“…Within cryptos and blockchain research we find [9][10][11][12]15,16,18,20] confirming so. We have to point out that in [20] EE may be assimilated to the construct "web quality" in this paper. In [7] we also found for this relation a positive sign but with a weak statistical significance, so the following hypothesis is proposed: Hypothesis 2 (H2).…”

“…Some evidences in this way are [55] for electronic ways of micro crowdfunding and also abovementioned papers [26,[43][44][45][47][48][49][50]56]. Within cryptos and blockchain research we find [9][10][11][12]15,16,18,20] confirming so. We have to point out that in [20] EE may be assimilated to the construct "web quality" in this paper.…”

“…In the use of mbanking [26,[47][48][49][50][51] obtain similar results. Regarding specific literature on cryptos results in [7][8][9][10][11][12]14,15,18,20,21] also suggests that PE is the key factor to explain intention to use, so the following hypothesis can be stated: Hypothesis 1 (H1). Performance expectancy influences positively intention to use cryptos.…”

“…Literature on the application of TAMs on this topic is not so widespread and, due to the reasons above, all very recent. Let us point out apart from [7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22]. Despite all reviewed literature is based in the use of TAMs, the final configuration of hypothesis to test and the use/user of cryptos under consideration have different nuances.…”

“…Despite all reviewed literature is based in the use of TAMs, the final configuration of hypothesis to test and the use/user of cryptos under consideration have different nuances. They may come from how TAM is applied but also due to the use of cryptocurrency tested: a generic intention to use by individuals [7][8][9][10][11][12][13][14][15][16][17][18][19][20]; as a payment method in commercial transactions [14][15][16][17][18][19][20][21] or as a purely way of investment [19]. This paper uses the configuration of hypotheses in [7] and also tests the intention to use by households, i.e., their motivation may be either as payment method or as an investment asset.…”