Towards a Better Understanding of the Resistance Factors of Cryptocurrency Spread

Sihem Ben Saad, Aida Allaya, Fayda Taârit and Rafla Hchaichi

Chapter 4 in Cryptofinance:A New Currency for a New Economy, 2021, pp 63-86 from World Scientific Publishing Co. Pte. Ltd.

Abstract: A cryptocurrency is a digital medium of exchange that operates independent of the central bank. It relies on cryptography to secure financial transactions and to check asset transfer. Several studies have shown that several factors play a role in inhibiting cryptocurrency spread, such as national culture, variables related to consumer psychology as well as factors related to regulation and monetary policy. Despite all the technological innovations, the inclusion of cryptocurrencies has become a challenge to governments and central banks since cryptocurrencies are often disfavored by rigorous regulation and monetary policy. On the other hand, psychological levels such as the need for human interaction, the organizational and functional barriers and many other variables related to power distance and uncertainty avoidance are the hindering factors for cryptocurrency adoption. In this chapter, we study the phenomenon of resistance to the spread of cryptocurrency. This study aims to explain how economic and psychological factors could discourage the consumer to use cryptocurrency.

Keywords: Cryptocurrencies; Digital Currencies; Bitcoin; Blockchain; Fintech; Tokenization; BitLicense; Crypto-Asset (search for similar items in EconPapers)
JEL-codes: G1 G11 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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