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Factors Influencing Individual and Organizational Adoption of Cryptocurrencies

In: Cryptofinance A New Currency for a New Economy

Author

Listed:
  • Khouloud Senda Bennani
  • Ibrahim Arpaci

Abstract

Cryptocurrencies have gathered a lot of attention since the birth of Bitcoin in 2009. However, less is known about how the characteristics of cryptocurrencies and other factors facilitate and impede their adoption. The objective of this study is to discuss the main conceptual findings on individual and organizational adoption of an innovation and examine the factors influencing the adoption of cryptocurrencies from a holistic perspective. This study proposes two theoretical models. The first model presents the factors impacting the adoption of cryptocurrencies at the individual level. It was derived by combining the eight factors of the Innovation Diffusion Theory (IDT) model with the construct “personal innovativeness.” The second model presents the factors impacting the adoption of cryptocurrencies at the organizational level. It was developed based on the Technology–Organization–Environment (TOE) framework. This research allows a better understanding of the current outlook of the cryptocurrency system and predicts its future perspectives. Therefore, this chapter is practically useful for those cryptocurrency users, traders and merchants considering their implementation as an alternative payment method.

Suggested Citation

  • Khouloud Senda Bennani & Ibrahim Arpaci, 2021. "Factors Influencing Individual and Organizational Adoption of Cryptocurrencies," World Scientific Book Chapters, in: Stéphane Goutte & Khaled Guesmi & Samir Saadi (ed.), Cryptofinance A New Currency for a New Economy, chapter 8, pages 147-169, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811239670_0008
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    Citations

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    Cited by:

    1. Arsenii Vilkov & Gang Tian, 2023. "Blockchain’s Scope and Purpose in Carbon Markets: A Systematic Literature Review," Sustainability, MDPI, vol. 15(11), pages 1-27, May.
    2. 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).

    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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