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Assessing citizens' behavior towards blockchain cryptocurrency adoption in the Mano River Union States: Mediation, moderation role of trust and ethical issues

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  • Koroma, Jonathan
  • Rongting, Zhou
  • Muhideen, Sayibu
  • Akintunde, Tosin Yinka
  • Amosun, Tunde Simeon
  • Dauda, Sahr James
  • Sawaneh, Ibrahim Abdulai

Abstract

Digital transformation and technologies have drastically channeled innovative global market trends from conventional commerce to digital currency. Therefore, this study examined the influence of trust on citizens' behavior (CB) in decision-making towards blockchain cryptocurrency. The study employed a quantitative method to collect data from Africans in the diaspora of the Mano River Union sub-region. We combined SPSS and Smart PLS for data analysis. The proportion of males in the population was 52%, females were 48%. The analysis outcome found that citizen's behavior R2 = 43% and trust in cryptocurrency R2 = 45% variance were explained by the study model. Results also show a positive relationship between technology attachment and citizen's behavior (r2 = 25%), blockchain transparency (BT) on trust crypto (r2 = 68%), BT on CB (r2 = 38%) as well as trust in Crypto on CB (r2 = 25%). Meanwhile, the moderation effects of ethical issues negate the relationship between trust and consumer's behaviors, while the mediation of trust supports the association between cryptocurrency and citizen's behavior (68%). The development of BT should entail an inclusive approach; as such, the Mano River Union must not be left behind. “The internet is central to data transfer, but the blockchain is central to value transfer,” hence the ethical issues and trust in crypto-enabler will ensure easy adaptability across the globe and Africa in particular.

Suggested Citation

  • Koroma, Jonathan & Rongting, Zhou & Muhideen, Sayibu & Akintunde, Tosin Yinka & Amosun, Tunde Simeon & Dauda, Sahr James & Sawaneh, Ibrahim Abdulai, 2022. "Assessing citizens' behavior towards blockchain cryptocurrency adoption in the Mano River Union States: Mediation, moderation role of trust and ethical issues," Technology in Society, Elsevier, vol. 68(C).
    • Handle: RePEc:eee:teinso:v:68:y:2022:i:c:s0160791x22000264
    DOI: 10.1016/j.techsoc.2022.101885
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    2. Loh, Xiu-Ming & Lee, Voon-Hsien & Leong, Lai-Ying & Aw, Eugene Cheng-Xi & Cham, Tat-Huei & Tang, Yun-Chia & Hew, Jun-Jie, 2023. "Understanding consumers’ resistance to pay with cryptocurrency in the sharing economy: A hybrid SEM-fsQCA approach," Journal of Business Research, Elsevier, vol. 159(C).
    3. Ahmad, Raja Wasim & Salah, Khaled & Jayaraman, Raja & Yaqoob, Ibrar & Omar, Mohammed, 2022. "Blockchain in oil and gas industry: Applications, challenges, and future trends," Technology in Society, Elsevier, vol. 68(C).
    4. Colombo, Jéfferson Augusto & Yarovaya, Larisa, 2024. "Are crypto and non-crypto investors alike? Evidence from a comprehensive survey in Brazil," Technology in Society, Elsevier, vol. 76(C).
    5. Tanković Ana Čuić & Prodan Marina Perišić & Benazić Dragan, 2023. "Consumer Segments in Blockchain Technology Adoption," South East European Journal of Economics and Business, Sciendo, vol. 18(2), pages 162-172, December.
    6. Setyowati, Milla Sepliana & Utami, Niken Desila & Saragih, Arfah Habib & Hendrawan, Adang, 2023. "Strategic factors in implementing blockchain technology in Indonesia's value-added tax system," Technology in Society, Elsevier, vol. 72(C).
    7. Jin, Feng & Li, Jingwei & Xue, Yi, 2023. "Preferring stablecoin over dollar: Evidence from a survey of Ethereum platform traders," Journal of International Money and Finance, Elsevier, vol. 131(C).
    8. Arpaci, Ibrahim, 2023. "Predictors of financial sustainability for cryptocurrencies: An empirical study using a hybrid SEM-ANN approach," Technological Forecasting and Social Change, Elsevier, vol. 196(C).

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