Do national development factors affect cryptocurrency adoption?

【Author】 Bhimani, Alnoor; Hausken, Kjell; Arif, Sameen

【Source】TECHNOLOGICAL FORECASTING AND SOCIAL CHANGE

【影响因子】10.884

【Abstract】The adoption of cryptocurrencies is uneven across businesses, industries, and countries. Different forces drive cryptocurrency adoption (CA) dependent on the national level of development. We empirically assess the relationship between certain macro-national developmental indicators and cryptocurrency deployment across 137 countries. Linear regressions determine specific associations with cryptocurrency adoption. We report that CA correlates positively and in decreasing order with Education, the Human Development Index, the Network Readiness Index, the Gini index, Democracy, Regulatory Quality, and Gross Domestic Product, and negatively and in decreasing order with Control of Corruption, the Corruption Perception Index, and the Economic Freedom Index. We draw on our findings to point to policy implications tied to the usage of cryptocurrencies and blockchain technologies more widely and identify further research possibilities.

【Keywords】Cryptocurrencies; Blockchain; Technology adoption; National development

【发表时间】2022 AUG

【收录时间】2022-08-15

【文献类型】实证数据

【主题类别】

区块链治理-市场治理-数字货币