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An Exploratory Approach to the Adoption Process of Bitcoin by Business Executives

Author

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  • Pedro Palos-Sanchez

    (Department of Financial Economics and Operations Management, University of Seville, 41001 Seville, Spain)

  • Jose Ramon Saura

    (Department of Business Economics, Rey Juan Carlos University, 28032 Madrid, Spain)

  • Raquel Ayestaran

    (Faculty of Legal and Business Sciences, Francisco de Vitoria University, 28223 Madrid, Spain)

Abstract

The purpose of this research study is to analyze the exploratory study of the adoption of Bitcoin cryptocurrency based on blockchain technology and its use as a means of payment in companies. This research is exploratory in nature. As such, an adoption model was investigated using the technology acceptance model (TAM) which was extended with new variables. The sample was made up of business executives from companies and commercial establishments ( n = 248). Partial least squares structural equation modeling (PLS-SEM) was chosen as the analysis and evaluation technique for the model. The authors demonstrated that privacy has an important influence on perceived utility, and that trust has a very significant influence on privacy and perceived ease of use, thus indirectly affecting the intention to use cryptocurrencies.

Suggested Citation

  • Pedro Palos-Sanchez & Jose Ramon Saura & Raquel Ayestaran, 2021. "An Exploratory Approach to the Adoption Process of Bitcoin by Business Executives," Mathematics, MDPI, vol. 9(4), pages 1-23, February.
    • Handle: RePEc:gam:jmathe:v:9:y:2021:i:4:p:355-:d:497258
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    References listed on IDEAS

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    Cited by:

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    2. Chunling Li & Nosherwan Khaliq & Leslie Chinove & Usama Khaliq & József Popp & Judit Oláh, 2023. "Cryptocurrency Acceptance Model to Analyze Consumers’ Usage Intention: Evidence From Pakistan," SAGE Open, , vol. 13(1), pages 21582440231, March.
    3. Tenzin Norbu & Joo Yeon Park & Kok Wai Wong & Hui Cui, 2024. "Factors Affecting Trust and Acceptance for Blockchain Adoption in Digital Payment Systems: A Systematic Review," Future Internet, MDPI, vol. 16(3), pages 1-21, March.
    4. Untung Rahardja & Shih-Chih Chen & Yu-Chun Lin & Tsung-Chieh Tsai & Qurotul Aini & Asif Khan & Fitra Putri Oganda & Elisa Royani Dewi & Ying-Chieh Cho & Chung-Hao Hsu, 2023. "Evaluating the Mediating Mechanism of Perceived Trust and Risk toward Cryptocurrency: An Empirical Research," SAGE Open, , vol. 13(4), pages 21582440231, December.
    5. Ammar AL-Ashmori & P. D. D. Dominic & Narinderjit Singh Sawaran Singh, 2022. "Items and Constructs of Blockchain Adoption in Software Development Industry: Experts Perspective," Sustainability, MDPI, vol. 14(16), pages 1-18, August.
    6. Jorge Andrés-Sánchez & Jaume Gené-Albesa, 2024. "Not with the bot! The relevance of trust to explain the acceptance of chatbots by insurance customers," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-12, December.
    7. Kamoliddin Murodjon ugli Mannonov & Seunghwan Myeong, 2024. "Citizens’ Perception of Blockchain-Based E-Voting Systems: Focusing on TAM," Sustainability, MDPI, vol. 16(11), pages 1-19, May.
    8. Jorge Andrés-Sánchez & Laura González-Vila Puchades & Mario Arias-Oliva, 2023. "Factors influencing policyholders' acceptance of life settlements: a technology acceptance model," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(4), pages 941-967, October.
    9. Ammar AL-Ashmori & Gunasekar Thangarasu & P. D. D. Dominic & Al-Baraa Abdulrahman Al-Mekhlafi, 2023. "A Readiness Model and Factors Influencing Blockchain Adoption in Malaysia’s Software Sector: A Survey Study," Sustainability, MDPI, vol. 15(16), pages 1-28, August.
    10. Ammar AL-Ashmori & Shuib Bin Basri & P. D. D. Dominic & Luiz Fernando Capretz & Amgad Muneer & Abdullateef Oluwagbemiga Balogun & Abdul Rehman Gilal & Rao Faizan Ali, 2022. "Classifications of Sustainable Factors in Blockchain Adoption: A Literature Review and Bibliometric Analysis," Sustainability, MDPI, vol. 14(9), pages 1-30, April.

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