Adoption of Digital Currencies: The Companies’ Perspective

Roussou, Ioanna; Stiakakis, Emmanouil

doi:10.1007/978-3-319-95666-4_4

Cited by 3 publications

(3 citation statements)

References 18 publications

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“…This finding is consistent with a recent study claiming that bitcoin and Blockchain offer a low-cost to no-cost alternative for tourists and payers (Erceg, 2020;Hashim et al, 2019). In a study on the benefit of using bitcoin, the respondents pointed to the low transfer fee as one of the factors in accepting bitcoin (Roussou & Stiakakis, 2019).…”

Section: Discussionsupporting

confidence: 89%

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Drivers Affecting Bitcoin Adoption as a Payment Mechanism in the Tourism Industry

Daryaei

Radfar

Jassbi

et al. 2022

IJFIFSA

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While travelers' desire to visit the world's most remote places has grown, the inefficiency of global payments indicates a significant barrier to tourism growth. As an emerging, decentralized, and borderless digital innovation, Bitcoin technology seems to have the ability to serve as a payment alternative and address such fundamental inefficiencies. On the other hand, bitcoin adoption can only happen when tourists and business owners choose to operate bitcoin simultaneously. The study has developed a novel Bitcoin Collaborative Network and Tourism Collaborative Network model to examine Bitcoin adoption factors. Then a fuzzy DEMATEL method was applied to the factors influencing the adoption domain, as identified based on an extensive literature review, in-depth interviews, and an international Delphi process. The study offered a model for the heterogeneous collaborative network of Bitcoin and Tourism (BCN and TCN), revealing that Perceived Usefulness is the most influencing criterion and the most prominent variable in Bitcoin Adoption. Bitcoin Technological Complexity, Government Regulatory, and Bitcoin Awareness are the factors that give the highest impacts. Also, Bitcoin's Technological Complexity is the most significant factor in bitcoin adoption. The findings might assist businesses in adopting a new market expansion strategy and benefiting from technological spillover, while government officials can explore new supporting legislation.

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Section: Discussionsupporting

confidence: 89%

“…In contrast, low Compatibility decreases net effects (Grajek, 2010). The findings are also in line with Roussou & Stiakakis's (2019) research, which argues that incompatibility with other company systems is one of the main reasons for non-acceptance.…”

Section: Discussionsupporting

confidence: 87%

Drivers Affecting Bitcoin Adoption as a Payment Mechanism in the Tourism Industry

Daryaei

Radfar

Jassbi

et al. 2022

IJFIFSA

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“…This encourages other tourism and hospitality companies to adopt cryptocurrencies (CheapAir, Expedia, TUI) and develop online travel platforms based on blockchain technology (Travala). In addition, research focuses on its application to small and medium-sized enterprises, which account for more than 90% of the total number of businesses in tourism in many countries of the world and should have the same availability and ability to use new technological achievements (Tham & Sigala, 2019;Nuryyev et al, 2020;Roussou, (2016). ).…”

Section: Literature Reviewmentioning

confidence: 99%

Application of cryptocurrency as a method of payment in tourism

Mujačević

2023

Tour. hosp. manag.

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Purpose - The paper summarizes the theoretical and empirical knowledge on the use and transactions of cryptocurrencies in tourism and examines the use of cryptocurrencies as a means of payment in Croatian tourism. Methodology/Design/Approach – The empirical research examines the attitudes and opinions of tourists in Croatian tourism regarding their willingness to pay with cryptocurrencies while travelling. Findings - The research results show a low level of payment for tourism services with cryptocurrencies in the Republic of Croatia, but a fairly open acceptance of cryptocurrencies as a means of payment for tourism services. The study found no correlation between the profile of respondents and the motivation to pay with cryptocurrencies. However, a correlation was found between the age of the respondents and the intention to pay, but there were no statistically significant differences in the intention to pay according to the age group of the respondents. No correlation was also found between motivation and intention to pay with cryptocurrencies. Originality of the research – The study can serve as a basis for further research on the use of cryptocurrencies in tourism. It helps to expand knowledge about the motivation and intention to use cryptocurrencies on a tourism trip and to understand tourists’ behavior

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