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Towards a Better Understanding of the Resistance Factors of Cryptocurrency Spread

In: Cryptofinance A New Currency for a New Economy

Author

Listed:
  • Sihem Ben Saad
  • Aida Allaya
  • Fayda Taârit
  • Rafla Hchaichi

Abstract

A cryptocurrency is a digital medium of exchange that operates independent of the central bank. It relies on cryptography to secure financial transactions and to check asset transfer. Several studies have shown that several factors play a role in inhibiting cryptocurrency spread, such as national culture, variables related to consumer psychology as well as factors related to regulation and monetary policy. Despite all the technological innovations, the inclusion of cryptocurrencies has become a challenge to governments and central banks since cryptocurrencies are often disfavored by rigorous regulation and monetary policy. On the other hand, psychological levels such as the need for human interaction, the organizational and functional barriers and many other variables related to power distance and uncertainty avoidance are the hindering factors for cryptocurrency adoption. In this chapter, we study the phenomenon of resistance to the spread of cryptocurrency. This study aims to explain how economic and psychological factors could discourage the consumer to use cryptocurrency.

Suggested Citation

  • Sihem Ben Saad & Aida Allaya & Fayda Taârit & Rafla Hchaichi, 2021. "Towards a Better Understanding of the Resistance Factors of Cryptocurrency Spread," World Scientific Book Chapters, in: Stéphane Goutte & Khaled Guesmi & Samir Saadi (ed.), Cryptofinance A New Currency for a New Economy, chapter 4, pages 63-86, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811239670_0004
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    Citations

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    Cited by:

    1. 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).

    More about this item

    Keywords

    Cryptocurrencies; Digital Currencies; Bitcoin; Blockchain; Fintech; Tokenization; BitLicense; Crypto-Asset;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G1 - Financial Economics - - General Financial Markets

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