Sustainable cryptocurrency adoption assessment among IT enthusiasts and cryptocurrency social communities. (August 2022)

• Record Type: Journal Article
• Authors: Yeong, Yoon-Chow; Kalid, Khairul Shafee; Savita, K.S.; Ahmad, M.N.; Zaffar, Maryam
• Is Part Of: Sustainable energy technologies and assessments. Volume 52:Part A(2022)
• Publication Date: 2022-08
• Subjects: Adoption -- Assessment -- Cryptocurrency -- Energy -- Blockchain -- Sustainable -- Technology; Renewable energy sources -- Periodicals; Energy development -- Technological innovations -- Periodicals; Electric power production -- Periodicals; Energy storage -- Periodicals; 333.79
• DOI: 10.1016/j.seta.2022.102085
• Languages: English
• ISSNs: 2213-1388

Abstract

Highlights: This study focusses on the individuals' adoption behavior on the digital currency which is built from the emerging blockchain technology. The measurement and validation are on technological and non-technological factors that influence individuals, IT Enthusiasts and Cryptocurrency Social Communities to adopt cryptocurrency. The results manifested that the IT Enthusiasts and Cryptocurrency Social Communities intention towards cryptocurrency adoption is high with four significant factors found. The outcomes provide important insights for blockchain practitioners, IT enthusiasts, cryptocurrency wallet providers and merchants. Several measures and initiatives are proposed for the cryptocurrency and blockchain-based financial services market. This study can be extended by adapting the research model to other countries with distinctive standpoints on cryptocurrency adoption and implementation. Abstract: This study sought to assess the level of Malaysian individuals' intention to adopt cryptocurrency and intended to explore the significant drivers that predict individuals' behavior towards the adoption of cryptocurrency. The survey data were collected from Malaysian individuals who have cryptocurrency knowledge, and the model was estimated via partial least square structural equation modeling (PLS-SEM) approach. The results manifested that the Malaysian individuals' intention towards cryptocurrency adoption is high and the factors performance expectancy, social influence, facilitating condition and price value were found appreciably influences an individual's adoption behavior. This study can be extended by implementing or adapting this proposed research model to other countries, especially developing countries with emerging economies like Malaysia. With the distinct status of cryptocurrency legislation over nations, it can help to deepen the results of this study regarding government support as a non-predictor of an individual's behavioral intention to use cryptocurrency.