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How Crypto-Currency Can Decrypt the Global Digital Divide: Bitcoins a Means for African Emergence

Author

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  • Pisso Nseke

    (School of Management, Huazhong University of Science and Technology, China)

Abstract

Low transaction cost, low level of entry, worldwide quickness, and anonymity of the transactions is the main advantage of cryptocurrency use, making it an attractive transaction media for African countries. At the same time, there are certain drawbacks of it in terms of strong volatility, lack of user-friendliness and its usage in crime. The conceptual paper explores the use of cryptocurrencies, and its potential in the African context. The research paper utilizes UTAUT 2 Model and adds key constructs for analyzing the adoption of new technology by Africans. These additional constructs include hedonistic motivation, habit and price cost. Key factors were considered in the case of African countries in order to analyze whether cryptocurrency is essential for economic growth in some economic countries. The application of UTAUT model in the case of Arica shows that performance, effort expectations, social influence are favorable for African countries while the influence of hedonic motivations and price is unfavorable for acceptance of cryptocurrencies in African countries.

Suggested Citation

  • Pisso Nseke, 2018. "How Crypto-Currency Can Decrypt the Global Digital Divide: Bitcoins a Means for African Emergence," International Journal of Innovation and Economic Development, Inovatus Services Ltd., vol. 3(6), pages 61-70, February.
    • Handle: RePEc:mgs:ijoied:v:3:y:2018:i:6:p:61-70
    DOI: 10.18775/ijied.1849-7551-7020.2015.36.2005
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    Citations

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    Cited by:

    1. Sun, Wei & Dedahanov, Alisher Tohirovich & Shin, Ho Young & Li, Wei Ping, 2021. "Factors affecting institutional investors to add crypto-currency to asset portfolios," The North American Journal of Economics and Finance, Elsevier, vol. 58(C).
    2. Saralees Nadarajah & Emmanuel Afuecheta & Stephen Chan, 2021. "Dependence between bitcoin and African currencies," Quality & Quantity: International Journal of Methodology, Springer, vol. 55(4), pages 1203-1218, August.

    More about this item

    Keywords

    Cryptocurrency research; UTAUT model; Bitcoin use in Africa; Hedonic motivations;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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