Digital currency: an empirical study analyzing its effectiveness in the banking sector

Santhoshi Gondesi, Kameswari Jada, Ramesh Palisetty (), Veena Ishwarappa Bhavikatti, Omnamasivaya Boddeda, Chaitanya Gorli, Tejaswini Bastray and Sony Hiremath
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Santhoshi Gondesi: Management, Gonna Institute of Information Technology and Sciences
Kameswari Jada: Shiva Shivani Institute of Management
Ramesh Palisetty: Brainware University
Veena Ishwarappa Bhavikatti: AMC Engineering College, Bannerghatta
Omnamasivaya Boddeda: Gonna Institute of Information Technology and Sciences
Chaitanya Gorli: Gonna Institute of Information Technologyand Sciences
Tejaswini Bastray: Jain (Deemed to Be) University
Sony Hiremath: St Joseph’s University

International Journal of System Assurance Engineering and Management, 2024, vol. 15, issue 11, No 8, 5182-5195

Abstract: Abstract Since digital currencies have become more and more popular throughout the past ten years, the majority of banks have given serious consideration to developing their digital currency that may address the drawbacks of existing digital currencies while accelerating the transition to a society without cash. The research is being done to comprehend the significance of a digital currency and its impact on the Indian banking industry. The research utilized a quantitative research approach to accomplish this. The data were collected from the senior executives of the selected banks in India. Utilizing the data, validity, descriptive, and Structural model approaches were performed. The results of the study conclude that funding structure and liquidity portfolio, customer relationship, product pricing, and competitive positioning are sustainably related to the digital currency. The results can be employed by government agencies, FinTech firms, and other organizations to improve how users are seen and create tactics that will increase users' intentions for employing digital currency.

Keywords: Digital Currency; Banking sector; Cryptocurrency; Cashless society; Digital transformation (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13198-024-02509-2

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