IDEAS home Printed from https://ideas.repec.org/a/eee/teinso/v55y2018icp33-40.html
   My bibliography  Save this article

An empirical investigation on the adoption of cryptocurrencies among the people of mainland China

Author

Listed:
  • Shahzad, Fakhar
  • Xiu, GuoYi
  • Wang, Jian
  • Shahbaz, Muhammad

Abstract

Cryptocurrencies represent a novel method of exchange without physical form, created by the internet to facilitate in making online payments which potentially bring revolution in the social structure of the future economic system. The core objective of this empirical inquiry is to look into the adoption of cryptocurrencies particularly Bitcoin, among the people of mainland China. To carry out the goals, this study was conducted to collect the essential information by applying a structured questionnaire from the people of mainland China via the online data collection system. The sample size is (n = 376) therefore, descriptive statistics, and structural equation modeling (SEM) has been applied to explore the causal relationship between explanatory factors and citizens intention to use. This study proposes that awareness and perceived trustworthiness are comparatively significant factors to determine the intention to use Bitcoin, while perceived usefulness partially mediates the relationship between perceived ease of use and intention to use. This study explores the factors influencing Bitcoin adoption in China demonstrating similarities and differences in terms of global adoption. The outcomes contribute to existing theories of Bitcoin adoption, providing policymakers with insight into how adoption is unfolding in this context.

Suggested Citation

  • Shahzad, Fakhar & Xiu, GuoYi & Wang, Jian & Shahbaz, Muhammad, 2018. "An empirical investigation on the adoption of cryptocurrencies among the people of mainland China," Technology in Society, Elsevier, vol. 55(C), pages 33-40.
    • Handle: RePEc:eee:teinso:v:55:y:2018:i:c:p:33-40
    DOI: 10.1016/j.techsoc.2018.05.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0160791X18300204
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techsoc.2018.05.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Marie Briere & Kim Oosterlinck & Ariane Szafarz, 2015. "Virtual Currency, Tangible Return: Portfolio Diversification with Bitcoins," Post-Print CEB, ULB -- Universite Libre de Bruxelles, vol. 16(6), pages 365-373.
    2. Hall, Bronwyn H. & Khan, Beethika, 2003. "Adoption of New Technology," Department of Economics, Working Paper Series qt3wg4p528, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    3. Rainer Böhme & Nicolas Christin & Benjamin Edelman & Tyler Moore, 2015. "Bitcoin: Economics, Technology, and Governance," Journal of Economic Perspectives, American Economic Association, vol. 29(2), pages 213-238, Spring.
    4. Vinodh Krishnaraju & Saji K Mathew & Vijayan Sugumaran, 2016. "Web personalization for user acceptance of technology: An empirical investigation of E-government services," Information Systems Frontiers, Springer, vol. 18(3), pages 579-595, June.
    5. Viswanath Venkatesh & Fred D. Davis, 2000. "A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies," Management Science, INFORMS, vol. 46(2), pages 186-204, February.
    6. Shahzad, Fakhar & Xiu, GuoYi & Shahbaz, Muhammad, 2017. "Organizational culture and innovation performance in Pakistan's software industry," Technology in Society, Elsevier, vol. 51(C), pages 66-73.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christie Smith & Aaron Kumar, 2018. "Crypto‐Currencies – An Introduction To Not‐So‐Funny Moneys," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1531-1559, December.
    2. White, Reilly & Marinakis, Yorgos & Islam, Nazrul & Walsh, Steven, 2020. "Is Bitcoin a currency, a technology-based product, or something else?," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    3. Pieters, Gina & Vivanco, Sofia, 2017. "Financial regulations and price inconsistencies across Bitcoin markets," Information Economics and Policy, Elsevier, vol. 39(C), pages 1-14.
    4. Parthajit Kayal & Purnima Rohilla, 2021. "Bitcoin in the economics and finance literature: a survey," SN Business & Economics, Springer, vol. 1(7), pages 1-21, July.
    5. Aniruddha Dutta & Saket Kumar & Meheli Basu, 2020. "A Gated Recurrent Unit Approach to Bitcoin Price Prediction," JRFM, MDPI, vol. 13(2), pages 1-16, February.
    6. Kajtazi, Anton & Moro, Andrea, 2019. "The role of bitcoin in well diversified portfolios: A comparative global study," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 143-157.
    7. Shangeetha Sukumaran & Thai Siew Bee & Shaista Wasiuzzaman, 2022. "Cryptocurrency as an Investment: The Malaysian Context," Risks, MDPI, vol. 10(4), pages 1-17, April.
    8. Abou-Shouk, Mohamed A. & Lim, Wai Mun & Megicks, Phil, 2016. "Using competing models to evaluate the role of environmental pressures in ecommerce adoption by small and medium sized travel agents in a developing country," Tourism Management, Elsevier, vol. 52(C), pages 327-339.
    9. Dyhrberg, Anne H. & Foley, Sean & Svec, Jiri, 2018. "How investible is Bitcoin? Analyzing the liquidity and transaction costs of Bitcoin markets," Economics Letters, Elsevier, vol. 171(C), pages 140-143.
    10. Flori, Andrea, 2019. "News and subjective beliefs: A Bayesian approach to Bitcoin investments," Research in International Business and Finance, Elsevier, vol. 50(C), pages 336-356.
    11. Shahbaz, Muhammad & Gao, Changyuan & Zhai, LiLi & Shahzad, Fakhar & Khan, Imran, 2021. "Environmental air pollution management system: Predicting user adoption behavior of big data analytics," Technology in Society, Elsevier, vol. 64(C).
    12. BHINDER Hardaman Singh & NAYAK Kamakshya Prasad & KUMAR Vineet, 2021. "The Technology Acceptance Model and Learning Management System: A Study on Undergraduate Tourism and Hospitality Students," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    13. Muhammad Athar Nadeem & Zhiying Liu & Abdul Hameed Pitafi & Amna Younis & Yi Xu, 2021. "Investigating the Adoption Factors of Cryptocurrencies—A Case of Bitcoin: Empirical Evidence From China," SAGE Open, , vol. 11(1), pages 21582440219, March.
    14. Zhou, Siwen, 2018. "Exploring the Driving Forces of the Bitcoin Exchange Rate Dynamics: An EGARCH Approach," MPRA Paper 89445, University Library of Munich, Germany.
    15. Gregor Dorfleitner & Carina Lung, 2018. "Cryptocurrencies from the perspective of euro investors: a re-examination of diversification benefits and a new day-of-the-week effect," Journal of Asset Management, Palgrave Macmillan, vol. 19(7), pages 472-494, December.
    16. Wasapon Thanabodypath & Achara Chandrachai & Sudkate Chaiyo & Orawon Chailapakul, 2021. "Industrial Buyer Innovation Adoption Model: A Focus on a Smartphone-Based Electrochemical Analytical Device for Toxic Heavy Metal Detection," Sustainability, MDPI, vol. 13(21), pages 1-21, October.
    17. Hu, Yang & Hou, Yang (Greg) & Oxley, Les & Corbet, Shaen, 2021. "Does blockchain patent-development influence Bitcoin risk?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 70(C).
    18. Volkan Ezcan & Jack Steven Goulding, 2022. "Offsite Sustainability—Disentangling the Rhetoric through Informed Mindset Change," Sustainability, MDPI, vol. 14(8), pages 1-27, April.
    19. Baumöhl, Eduard, 2019. "Are cryptocurrencies connected to forex? A quantile cross-spectral approach," Finance Research Letters, Elsevier, vol. 29(C), pages 363-372.
    20. Daniel Tut, 2022. "Bitcoin: Future or Fad?," Springer Books, in: Thomas Walker & Frederick Davis & Tyler Schwartz (ed.), Big Data in Finance, pages 133-157, Springer.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:teinso:v:55:y:2018:i:c:p:33-40. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/technology-in-society .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.