Authors : Jacob Wood, Haejin Jang, Artem Lenskiy and Gohar Feroz Khan
Abstract: As an emerging form of cryptocurrency, Bitcoin has become increasingly prevalent in today’s financial marketplace. As a new technological instrument, this study examines Bitcoin by utilizing the technology adoption model and innovation diffusion theory. By utilizing such a framework, this study examines the factors that are associated with a decision to adopt Bitcoin as a means of financial exchange. By employing structural equation modeling and the partial least squares method, a research model was developed and tested using an international study that surveyed 121 global cryptocurrency community members. From our analysis we found that relative advantage and ease of use had a significant positive effect on bitcoin use intention while visibility and compatibility were also found to have a statistically positive impact. The results from this study have important implications to the finance and business sectors.
Jacob Wood, Haejin Jang, Artem Lenskiy and Gohar Feroz Khan, 2017. The Diffusion and Adoption of Bitcoin: A Practical Survey for Business. International Business Management, 11: 1278-1288.