Bitcoin: The revolution of the payment system?

Jarunee Wonglimpiyarat
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Jarunee Wonglimpiyarat: Thammasat University, Thailand

Journal of Payments Strategy & Systems, 2016, vol. 9, issue 4, 230-240

Abstract: This paper discusses whether Bitcoin could revolutionise our payment system and replace our cash-based society. The analysis, in an attempt to understand the process of technological change, is based on the technology S-curve. This paper discusses the problems that hinder Bitcoin’s achieving wide adoption, as it has not been well received by international government central banks. Interestingly, the swing of S-curves is not strong enough to cause a paradigm shift. The results have shown parallel S-curve trajectories of electronic money innovations, signifying a move from a cash-based economy toward a less cash-based society. The paper provides useful information to support the diffusion of Bitcoin innovation.

Keywords: revolution; Bitcoin; cashless; payment system; S-curves (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2016:v:9:i:4:p:230-240

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