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An empirical study on the commercial adoption of digital currencies

Author

Listed:
  • Ioanna Roussou

    (University of Macedonia)

  • Emmanouil Stiakakis

    (University of Macedonia)

  • Angelo Sifaleras

    (University of Macedonia)

Abstract

Digital currencies are rapidly evolving Internet currencies that have been increasingly attracting academic, governmental, banking, and business interest. This paper aims to present the commercial perspective towards the adoption of digital currencies as a means of daily transactions. Considering digital currencies as a pioneering technological innovation, this study proposes a research model that combines the innovation decision process model with the technology acceptance model, adding the construct of perceived security in order to investigate the factors that affect the actual use of digital currencies. The collected data from 254 respondents, derived from an online questionnaire-based survey addressed to commercial users, were further analyzed by using structural equation modeling. The findings of this research have significant implications for academics by bridging the gap in the literature about the factors affecting digital currencies’ commercial adoption and for practitioners concerning decision-making on their adoption and use. More specifically, this study stresses the role of perceived security and the fact that managers need to build their policies regarding transactions in digital currencies on the basis of security. Perceived usefulness was also found to be a significant factor, meaning that commercial users should be aware of the advantages of digital currencies regarding businesses. Moreover, compatibility with existing values and practices affects indirectly the actual use of digital currencies, implying that managers need to perceive that the use of digital currencies should be compatible with existing practices.

Suggested Citation

  • Ioanna Roussou & Emmanouil Stiakakis & Angelo Sifaleras, 2019. "An empirical study on the commercial adoption of digital currencies," Information Systems and e-Business Management, Springer, vol. 17(2), pages 223-259, December.
    • Handle: RePEc:spr:infsem:v:17:y:2019:i:2:d:10.1007_s10257-019-00426-7
    DOI: 10.1007/s10257-019-00426-7
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    References listed on IDEAS

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    3. Ma, Chao & Wu, Jingyi & Sun, Heyuan & Zhou, Xin & Sun, Xiyan, 2023. "Enhancing user experience in digital payments: A hybrid approach using SEM and neural networks," Finance Research Letters, Elsevier, vol. 58(PB).
    4. Mario Arias-Oliva & Jorge de Andrés-Sánchez & Jorge Pelegrín-Borondo, 2021. "Fuzzy Set Qualitative Comparative Analysis of Factors Influencing the Use of Cryptocurrencies in Spanish Households," Mathematics, MDPI, vol. 9(4), pages 1-19, February.

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