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The role of interpersonal trust in cryptocurrency adoption

Author

Listed:
  • Akanksha Jalan

    (ESC Rennes School of Business - ESC [Rennes] - ESC Rennes School of Business)

  • Roman Matkovskyy

    (ESC Rennes School of Business - ESC [Rennes] - ESC Rennes School of Business)

  • Andrew Urquhart

    (Henley Business School [University of Reading] - UOR - University of Reading)

  • Larisa Yarovaya

    (SBS - Southampton Business School)

Abstract

Despite the impressive adoption of cryptocurrencies since Bitcoin was introduced in 2008, little academic attention has been paid to the role of interpersonal trust in fostering this adoption. In this paper, we quantify the effect of interpersonal trust on the interest in and adoption of the three largest cryptocurrencies by market capitalization – Bitcoin, Ethereum and Litecoin using data from the 7th wave of the World Values Survey, Twitter, and Google Trends. Our results indicate a positive and statistically significant effect of trust on interest in and adoption of cryptocurrencies, confirming the importance of trust in the growth of financial markets.

Suggested Citation

  • Akanksha Jalan & Roman Matkovskyy & Andrew Urquhart & Larisa Yarovaya, 2023. "The role of interpersonal trust in cryptocurrency adoption," Post-Print hal-03946536, HAL.
    • Handle: RePEc:hal:journl:hal-03946536
    DOI: 10.1016/j.intfin.2022.101715
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    4. Kamer-Ainur Aivaz & Ionela Florea Munteanu & Flavius Valentin Jakubowicz, 2023. "Bitcoin in Conventional Markets: A Study on Blockchain-Induced Reliability, Investment Slopes, Financial and Accounting Aspects," Mathematics, MDPI, vol. 11(21), pages 1-20, November.
    5. Colombo, Jéfferson Augusto & Yarovaya, Larisa, 2024. "Are crypto and non-crypto investors alike? Evidence from a comprehensive survey in Brazil," Technology in Society, Elsevier, vol. 76(C).
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    7. Christian Zeiß & Myriam Schaschek & Lisa Straub & Christoph Tomitza & Axel Winkelmann, 2024. "Re-intermediation of the crypto asset ecosystem by banks: An empirical study on acceptance drivers among the populace," Electronic Markets, Springer;IIM University of St. Gallen, vol. 34(1), pages 1-24, December.
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