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Impact of Digital Technology and the Use of Blockchain Technology from the Consumer Perspective

In: Blockchain Economics and Financial Market Innovation

Author

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  • Hande Begüm Bumin Doyduk

    (Altınbaş University)

Abstract

The Blockchain concept, promising breakthrough innovations has captured interest in the business world and also among potential investors and consumers. Block chain technology can be used for various purposes in the finance industry, public sector, smart contracts and internet of things, shared economy and financial transformation. However, from the individual consumer side, it is mainly linked to the cryptocurrency. Cryptocurrency is seen as a subset of alternative currencies from a general perspective and as a subset of digital currencies in a narrow sense. According to Gartner Hype Cycle for Emerging Technologies 2017, block chain technology is in the peak of inflated expectations stage. There are 5–10 years for maturity and widespread usage. Many consulting firms share the same insight, stating that block chain technology will be a main technological platform by 2025. Blockchain technology is a relatively new area of study mainly analyzed by engineering and finance scholars. There are very few academic studies including the consumers’ standpoint. Analyzing a new business idea or a technological novelty without considering the consumer side will be ungrounded. In this chapter, crypto currencies, specifically Bitcoin and the underlying technology Blockchain, will be studied from the consumer point of view. Awareness of crypto currencies, attitudes toward it, purchase intentions, user profiles, usage motivation around the world and in Turkey will be discussed. Following this section, the adoption of Blockchain technology and Bitcoin adoption will be analyzed by different technology acceptance and adoption models.

Suggested Citation

  • Hande Begüm Bumin Doyduk, 2019. "Impact of Digital Technology and the Use of Blockchain Technology from the Consumer Perspective," Contributions to Economics, in: Umit Hacioglu (ed.), Blockchain Economics and Financial Market Innovation, chapter 0, pages 271-292, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-25275-5_14
    DOI: 10.1007/978-3-030-25275-5_14
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