Consumer Trust in Digital Currency Enabled Transactions

Zarifis, Alex; Efthymiou, Leonidas; Cheng, Xusen; Demetriou, Salomi

doi:10.1007/978-3-319-11460-6_21

Cited by 35 publications

(30 citation statements)

References 20 publications

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“… Regulatory: Here, researchers discuss legal, fiscal, tax, and regulatory issues of Bitcoin as a new form of currency (e.g., [10,[32][33][34]).  Social Science: Along this road, this research is about sociology, trust, anthropology, ethics, and politics in regard to the new phenomenon of cryptocurrencies (e.g., [35][36][37][38]).…”

Section: Related Workmentioning

confidence: 99%

Cryptocurrencies as a Disruption? Empirical Findings on User Adoption and Future Potential of Bitcoin and Co

Baur

Bühler

Bick

et al. 2015

Lecture Notes in Computer Science

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In this paper, we examine cryptocurrencies as a potentially disruptive sort of payment method. Due to its relative importance, we focus in particular on Bitcoin. Through an inductive, exploratory interview approach with 13 individuals in three distinct groups, the determinants usability, usefulness, and subjective norm that could make Bitcoin a game-changer are explored. The results reveal that most stakeholders consider perceived ease of use still rather low, with perceived usefulness varying according to the user group. The notion of Bitcoin as having much future potential as a payment method is confirmed across all interviewees. Interestingly, the underlying concept of a blockchain is also seen as a potential revolutionary way to create a more just society based on open platforms and open data. However, the reasons of why Bitcoin is actually a disruption to existing solutions varies widely.

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Section: Related Workmentioning

confidence: 99%

Cryptocurrencies as a Disruption? Empirical Findings on User Adoption and Future Potential of Bitcoin and Co

Baur

Bühler

Bick

et al. 2015

Lecture Notes in Computer Science

View full text Add to dashboard Cite

show abstract

“…and the community around it has grown. And organizations, decentralized or not, including mining pools, exchanges, wallet providers and product/service vendors all need trust in order to cooperate, negotiate and transact [17].…”

Section: Bitcoin -A Prototypical Blockchainmentioning

confidence: 99%

“…Given that, even within a slightly mistrusting Bitcoin community, interpersonal trust is still prevalent we would expect the same to be true of any blockchain implementation. Whilst it may be that trust in other users may not be a prime concern, trust in those building and maintaining such solutions will be-a position supported by Zarifis et al [17] in that a user's "level of trust in a technology is an important factor in the level of its adoption".…”

Section: Guideline #1 -Interpersonal Trust Impacts On Adoptionmentioning

confidence: 99%

“…Existing research on blockchain technologies predominantly focuses on Bitcoin and on four key streams therein. The first stream looks at the technology and its functionality of the currency and its protocols e.g., [17], [28], [29]. The second stream studies the security, privacy and stability of the wider Bitcoin ecosystem, e.g., [21], [30]- [33].…”

Section: Related Workmentioning

confidence: 99%

“…Lustig & Nardi [48] and Christoper [41] explore the nature of trust in the algorithms. Zarifis et al [17] build a model for transactional trust within business to consumer relationships. Works by Sas and Khairuddin [49]- [51], through small-scale user studies, explore user perceptions and trust from a Human Computer Interactions (HCI) perspective and acknowledge the "lack of empirical work exploring the experience of using Bitcoin and the issues of trust surrounding it."…”

Section: Related Workmentioning

confidence: 99%

See 2 more Smart Citations

Trust Beyond Computation Alone: Human Aspects of Trust in Blockchain Technologies

Craggs

Rashid

2019

2019 IEEE/ACM 41st International Conference on Software Engineering: Software Engineering in Society (ICSE-SEIS)

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Blockchains-with their inherent properties of transaction transparency, distributed consensus, immutability and cryptographic verifiability-are increasingly seen as a means to underpin innovative products and services in a range of sectors from finance through to energy and healthcare. Discussions, too often, make assertions that the trustless nature of blockchain technologies enables and actively promotes their suitability-there being no need to trust third parties or centralised control. Yet humans need to be able to trust systems, and others with whom the system enables transactions. In this paper, we highlight that understanding this need for trust is critical for the development of blockchain-based systems. Through an online study with 125 users of the most wellknown of blockchain based systems-the cryptocurrency Bitcoin-we uncover that human and institutional aspects of trust are pervasive. Our analysis highlights that, when designing future blockchain-based technologies, we ought to not only consider computational trust but also the wider ecosystem , how trust plays a part in users engaging/disengaging with such ecosystems and where design choices impact upon trust. From this, we distill a set of guidelines for software engineers developing blockchainbased systems for societal applications.

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Perceived Risk of Users’ Intention to Use Cryptocurrency in Malaysia: A Multi-analytic Approach

Al-amri,

Al-shami,

Alkawsi

2023

Studies in Computational Intelligence

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Consumer Trust in Digital Currency Enabled Transactions

Cited by 35 publications

References 20 publications

Cryptocurrencies as a Disruption? Empirical Findings on User Adoption and Future Potential of Bitcoin and Co

Cryptocurrencies as a Disruption? Empirical Findings on User Adoption and Future Potential of Bitcoin and Co

Trust Beyond Computation Alone: Human Aspects of Trust in Blockchain Technologies

Perceived Risk of Users’ Intention to Use Cryptocurrency in Malaysia: A Multi-analytic Approach

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