IDEAS home Printed from https://ideas.repec.org/a/rnd/arjebs/v10y2018i5p230-243.html
   My bibliography  Save this article

End-User Adoption of Bitcoin in South Africa

Author

Listed:
  • Raphael Warren Jankeeparsad
  • Dev Tewari

Abstract

Since its introduction in 2008, the value and popularity of Bitcoin have risen exponentially. Despite being 10 years old, the concept of crypto currency is fairly new in South Africa. The increase in the value of Bitcoin, together with extensive media coverage, has led to the creation of a Bitcoin economic system with many South Africans jumping on the Bitcoin bandwagon. This study aims to identify the determinants affecting end-user adoption of Bitcoin in South Africa and to determine the main use of the crypto currency by South Africans. A research model was developed utilising constructs from the technology acceptance model and theory of planned behaviour. The model was then tested empirically by utilising two survey-based questionnaires, one for current users of Bitcoin and one for non-users. For users, perceived usefulness and access to facilitating conditions were the primary determinants influencing their decision to adopt the crypto currency while lack of trust and social influences were the primary reasons non-users chose not to adopt Bitcoin.

Suggested Citation

  • Raphael Warren Jankeeparsad & Dev Tewari, 2018. "End-User Adoption of Bitcoin in South Africa," Journal of Economics and Behavioral Studies, AMH International, vol. 10(5), pages 230-243.
  • Handle: RePEc:rnd:arjebs:v:10:y:2018:i:5:p:230-243
    DOI: 10.22610/jebs.v10i5(J).2512
    as

    Download full text from publisher

    File URL: https://ojs.amhinternational.com/index.php/jebs/article/view/2512/1724
    Download Restriction: no

    File URL: https://ojs.amhinternational.com/index.php/jebs/article/view/2512
    Download Restriction: no

    File URL: https://libkey.io/10.22610/jebs.v10i5(J).2512?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bernadette Szajna, 1996. "Empirical Evaluation of the Revised Technology Acceptance Model," Management Science, INFORMS, vol. 42(1), pages 85-92, January.
    2. Henry, Christopher S. & Huynh, Kim P. & Nicholls, Gradon, 2018. "Bitcoin awareness and usage in Canada," Journal of Digital Banking, Henry Stewart Publications, vol. 2(4), pages 311-337, May.
    3. Sheppard, Blair H & Hartwick, Jon & Warshaw, Paul R, 1988. "The Theory of Reasoned Action: A Meta-analysis of Past Research with Recommendations for Modifications and Future Research," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 15(3), pages 325-343, December.
    4. Christopher Henry & Kim Huynh & Gradon Nicholls, 2017. "Bitcoin Awareness and Usage in Canada," Staff Working Papers 17-56, Bank of Canada.
    5. Viswanath Venkatesh & Fred D. Davis, 2000. "A Theoretical Extension of the Technology Acceptance Model: Four Longitudinal Field Studies," Management Science, INFORMS, vol. 46(2), pages 186-204, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Viswanath Venkatesh, 2000. "Determinants of Perceived Ease of Use: Integrating Control, Intrinsic Motivation, and Emotion into the Technology Acceptance Model," Information Systems Research, INFORMS, vol. 11(4), pages 342-365, December.
    2. Gao, Tao (Tony) & Rohm, Andrew J. & Sultan, Fareena & Pagani, Margherita, 2013. "Consumers un-tethered: A three-market empirical study of consumers' mobile marketing acceptance," Journal of Business Research, Elsevier, vol. 66(12), pages 2536-2544.
    3. 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.
    4. Christopher R. Plouffe & John S. Hulland & Mark Vandenbosch, 2001. "Research Report: Richness Versus Parsimony in Modeling Technology Adoption Decisions—Understanding Merchant Adoption of a Smart Card-Based Payment System," Information Systems Research, INFORMS, vol. 12(2), pages 208-222, June.
    5. Sung S. Kim & Naresh K. Malhotra, 2005. "A Longitudinal Model of Continued IS Use: An Integrative View of Four Mechanisms Underlying Postadoption Phenomena," Management Science, INFORMS, vol. 51(5), pages 741-755, May.
    6. Nedra, Bahri-Ammari & Hadhri, Walid & Mezrani, Mariem, 2019. "Determinants of customers' intentions to use hedonic networks: The case of Instagram," Journal of Retailing and Consumer Services, Elsevier, vol. 46(C), pages 21-32.
    7. Hanna Halaburda & Guillaume Haeringer & Joshua Gans & Neil Gandal, 2022. "The Microeconomics of Cryptocurrencies," Journal of Economic Literature, American Economic Association, vol. 60(3), pages 971-1013, September.
    8. Sarv Devaraj & Robert F. Easley & J. Michael Crant, 2008. "Research Note ---How Does Personality Matter? Relating the Five-Factor Model to Technology Acceptance and Use," Information Systems Research, INFORMS, vol. 19(1), pages 93-105, March.
    9. Paul Juinn Bing Tan, 2013. "Applying the UTAUT to Understand Factors Affecting the Use of English E-Learning Websites in Taiwan," SAGE Open, , vol. 3(4), pages 21582440135, October.
    10. Nils Brouwer & Jakob de Haan, 2024. "What Drives Households’ Knowledge about Cryptocurrencies?," Working Papers 799, DNB.
    11. Wei Wang & Shoujian Zhang & Yikun Su & Xinyang Deng, 2019. "An Empirical Analysis of the Factors Affecting the Adoption and Diffusion of GBTS in the Construction Market," Sustainability, MDPI, vol. 11(6), pages 1-24, March.
    12. Daniela Balutel & Christopher Henry & Jorge Vásquez & Marcel Voia, 2022. "Bitcoin adoption and beliefs in Canada," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(4), pages 1729-1761, November.
    13. Li-Su Huang & Cheng-Po Lai, 2014. "Knowledge Management Adoption And Diffusion Using Structural Equation Modeling," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 8(1), pages 39-56.
    14. Gansser, Oliver Alexander & Reich, Christina Stefanie, 2021. "A new acceptance model for artificial intelligence with extensions to UTAUT2: An empirical study in three segments of application," Technology in Society, Elsevier, vol. 65(C).
    15. Walter Engert & Ben Fung, 2017. "Central Bank Digital Currency: Motivations and Implications," Discussion Papers 17-16, Bank of Canada.
    16. Attié, Elodie & Meyer-Waarden, Lars, 2022. "The acceptance and usage of smart connected objects according to adoption stages: an enhanced technology acceptance model integrating the diffusion of innovation, uses and gratification and privacy ca," Technological Forecasting and Social Change, Elsevier, vol. 176(C).
    17. Xin Xu & Viswanath Venkatesh & Kar Yan Tam & Se-Joon Hong, 2010. "Model of Migration and Use of Platforms: Role of Hierarchy, Current Generation, and Complementarities in Consumer Settings," Management Science, INFORMS, vol. 56(8), pages 1304-1323, August.
    18. Zhiyuan Yu & Doudou Jin, 2021. "Determinants of Users’ Attitude and Intention to Intelligent Connected Vehicle Infotainment in the 5G-V2X Mobile Ecosystem," IJERPH, MDPI, vol. 18(19), pages 1-19, September.
    19. Nuray Cakirli Akyüz & Ludwig Theuvsen, 2020. "The Impact of Behavioral Drivers on Adoption of Sustainable Agricultural Practices: The Case of Organic Farming in Turkey," Sustainability, MDPI, vol. 12(17), pages 1-20, August.
    20. Hossain, Akram & Quaresma, Rui & Rahman, Habibur, 2019. "Investigating factors influencing the physicians’ adoption of electronic health record (EHR) in healthcare system of Bangladesh: An empirical study," International Journal of Information Management, Elsevier, vol. 44(C), pages 76-87.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnd:arjebs:v:10:y:2018:i:5:p:230-243. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Muhammad Tayyab (email available below). General contact details of provider: https://ojs.amhinternational.com/index.php/jebs .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.