Can Stablecoins Foster Cryptocurrencies Adoption?

【Author】 Au, Cheuk Hang; Hsu, Wen Shou; Shieh, Po Hsu; Lin, Yue

【Source】JOURNAL OF COMPUTER INFORMATION SYSTEMS

【影响因子】3.317

【Abstract】With value pegged to fiat currencies, stablecoins can mediate the price volatility of cryptocurrencies. And yet, the concept of stablecoin and its impact on fostering individuals' cryptocurrency adoptions remain unclear. To explore stablecoin's role in a contextualized way, we adopted the Push-Pull-Mooring (PPM) model as the theoretical foundations. PPM Framework is especially suitable for our study because it allows us to use a pretest-posttest approach to study the changes of different factors created by introducing stablecoins and the impact of these factors on the continuous intention (CI) of adopting cryptocurrency exchanges. Our results suggested that less experienced cryptocurrency users might not understand immediately upon learning about stablecoins. They may even feel confused and become less motivated to adopt cryptocurrencies. Conversely, more experienced users may recognize the importance of stablecoins. Moreover, after the introduction of stablecoins, the power of different factors on CI has also changed. Therefore, cryptocurrency exchanges need to adopt more diversified strategies to engage users of varying experience levels.

【Keywords】Bitcoin; cryptocurrency; stablecoin; PPM framework; cryptocurrency exchanges

【发表时间】2023 2023 MAY 25

【收录时间】2023-06-18

【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