View in EDS

User acceptance of social network-backed cryptocurrency : a unified theory of acceptance and use of technology (UTAUT)-based analysis

Saved in:
Bibliographic Details
Title: User acceptance of social network-backed cryptocurrency : a unified theory of acceptance and use of technology (UTAUT)-based analysis
Authors: Recskó, Márk, Aranyossy, Marta
Source: FINANCIAL INNOVATION ; ISSN: 2199-4730
Publication Year: 2024
Collection: Ghent University Academic Bibliography
Subject Terms: Social Sciences, Cryptocurrency, Social media, Unified theory of acceptance and use of technology (UTAUT), Technology acceptance, Central-Eastern Europe, Hungary, Trust, Risk, PARTIAL LEAST-SQUARES, INFORMATION-TECHNOLOGY, CONSUMER ACCEPTANCE, PLS-SEM, ADOPTION, PERCEPTIONS, READINESS, INTENTION, BANKING, PAYMENT
Description: Turbulent market conditions, well-publicized advantages, and potential individual, social, and environmental risks make blockchain-based cryptocurrencies a popular focus of the public and scientific communities. This paper contributes to the literature on the future of crypto markets by analyzing a promising cryptocurrency innovation from a customer-centric point of view; it explores the factors influencing user acceptance of a hypothetical social network-backed cryptocurrency in Central Europe. The research model adapts an internationally comparative framework and extends the well-established unified theory of acceptance and use of the technology model with the concept of perceived risk and trust. We explore user attitudes with a survey on a large Hungarian sample and analyze the database with consistent partial least square structural equation modeling methodology. The results show that users would be primarily influenced by the expected usefulness of the new technology assuming it is easy to use. Furthermore, our analysis also highlights that while social influence does not seem to sway user opinions, consumers are susceptible to technological risks, and trust is an important determinant of their openness toward innovations in financial services. We contribute to the cryptocurrency literature with a future-centric technological focus and provide new evidence from an under-researched geographic region. The results also have practical implications for business decision-makers and policymakers.
Document Type: article in journal/newspaper
File Description: application/pdf
Language: English
Relation: https://biblio.ugent.be/publication/01HVV8PA0X2SSCC5WB92RRMC6D; https://biblio.ugent.be/publication/01HVV8PA0X2SSCC5WB92RRMC6D/file/01HVV8QJH52CYYDWHJ4Q98030M
DOI: 10.1186/s40854-023-00511-4
Availability: https://biblio.ugent.be/publication/01HVV8PA0X2SSCC5WB92RRMC6D
http://hdl.handle.net/1854/LU-01HVV8PA0X2SSCC5WB92RRMC6D
https://doi.org/10.1186/s40854-023-00511-4
https://biblio.ugent.be/publication/01HVV8PA0X2SSCC5WB92RRMC6D/file/01HVV8QJH52CYYDWHJ4Q98030M
Rights: Creative Commons Attribution 4.0 International Public License (CC-BY 4.0) ; info:eu-repo/semantics/openAccess
Accession Number: edsbas.730F85A8
Database: BASE
Description
Abstract:Turbulent market conditions, well-publicized advantages, and potential individual, social, and environmental risks make blockchain-based cryptocurrencies a popular focus of the public and scientific communities. This paper contributes to the literature on the future of crypto markets by analyzing a promising cryptocurrency innovation from a customer-centric point of view; it explores the factors influencing user acceptance of a hypothetical social network-backed cryptocurrency in Central Europe. The research model adapts an internationally comparative framework and extends the well-established unified theory of acceptance and use of the technology model with the concept of perceived risk and trust. We explore user attitudes with a survey on a large Hungarian sample and analyze the database with consistent partial least square structural equation modeling methodology. The results show that users would be primarily influenced by the expected usefulness of the new technology assuming it is easy to use. Furthermore, our analysis also highlights that while social influence does not seem to sway user opinions, consumers are susceptible to technological risks, and trust is an important determinant of their openness toward innovations in financial services. We contribute to the cryptocurrency literature with a future-centric technological focus and provide new evidence from an under-researched geographic region. The results also have practical implications for business decision-makers and policymakers.
DOI:10.1186/s40854-023-00511-4