Is the consumer willing to adopt the innovative, blockchain based cryptocurrency Bitcoin as a payment method? The aim of this work is to assess the European consumer’s intention to use Bitcoin for payments.
Bitcoin is not yet defined in many ways. The Role of the consumer is important as consumers play a significant role in technology adoption. In this work, Bitcoin is investigated from the consumer’s perspective as an available innovative payment method.
A literature reviewed allowed characterizing Bitcoin and to outline factors that have an effect on the consumer’s intention to adopt this innovative technology for payments. These factors, compatibility (as in Innovation Diffusion Theory) and perceived risk, were integrated with a theoretical research model (Technology Acceptance Model) and its constructs perceived ease of use, perceived usefulness and behavioral intention, in order to predict the consumer’s intention to use Bitcoin for payments. The proposed model was empirically tested using data collected from a survey of European consumers. The Structural Equation Modeling (SEM) technique was used to evaluate this research model and a Confirmatory Factor Analysis (CFA) was performed to test the reliability and validity of the proposed measurement model.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Literature review
- Blockchain Technology
- Attributes of Bitcoin and Cryptographic Currency
- Mining
- Transactions
- Anonymity of Bitcoin
- Payments and Fintech
- Criminal Activity
- User of Bitcoin
- Consumer and Innovation
- Adoption of Innovation
- Perceived Benefit
- Perceived Risk
- Research Methodology
- Theories on technology acceptance
- Research aim and objectives
- Research theoretical model
- Extending TAM
- Hypotheses development
- Research sample
- Data collection Method
- Research Process
- Limitations and potential problems
- Empirical Research
- Research results
- Demographic analysis
- Descriptive statistics
- Inferential statistics
- Hypothesis testing
- Research results
- Discussion
- Conclusions
- References
- Appendices
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This research aims to investigate the acceptance of Bitcoin as an innovative payment method by European consumers and their intention to utilize it for payments. It examines Bitcoin from a consumer perspective, analyzing the factors influencing their adoption of this technology. The study utilizes the Technology Acceptance Model (TAM) as a theoretical framework, integrating Compatibility (from Innovation Diffusion Theory) and Perceived Risk to predict consumers' intention to use Bitcoin for payments.- Consumer adoption of Bitcoin as a payment method
- Factors influencing consumer intention to use Bitcoin
- Application of the Technology Acceptance Model (TAM)
- Influence of Compatibility and Perceived Risk on Bitcoin adoption
- Predicting consumer behavior regarding Bitcoin payments
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter provides a general overview of the research topic, highlighting the importance of Bitcoin adoption by consumers and its potential impact on the payment landscape.
- Literature review: This chapter delves into the theoretical background of Bitcoin, blockchain technology, and consumer behavior in relation to innovative technologies. It examines the attributes of Bitcoin and its potential benefits and risks.
- Research Methodology: This chapter outlines the research methodology employed in the study. It describes the theoretical framework used (TAM) and its extended version, incorporating additional factors relevant to Bitcoin adoption.
- Empirical Research: This chapter presents the findings of the research, including the demographic analysis of the surveyed participants and the results of the statistical analyses. It assesses the impact of different factors on consumer intention to use Bitcoin.
- Discussion: This chapter discusses the implications of the research findings, highlighting the significance of the results and their potential contribution to the understanding of Bitcoin adoption.
Schlüsselwörter (Keywords)
This research centers around Bitcoin adoption by consumers, focusing on key concepts such as the Technology Acceptance Model (TAM), Compatibility, Perceived Risk, Perceived Usefulness, Perceived Ease of Use, and Behavioral Intention. Additionally, it explores themes related to innovation diffusion theory, blockchain technology, and the impact of new payment methods on consumer behavior.- Quote paper
- Liutauras Rokas (Author), 2019, Is the consumer willing to adopt the innovative cryptocurrency Bitcoin as a payment method?, Munich, GRIN Verlag, https://www.grin.com/document/550906
