TY - JOUR
T1 - Drivers Affecting Bitcoin Adoption as a Payment Mechanism in the Tourism Industry
AU - Daryaei, Mehdi
AU - Radfar, Reza
AU - Jassbi, Javad J.
AU - Khamseh, Abbas
N1 - The authors received no financial support for the research, authorship and, or publication of this article.
PY - 2022
Y1 - 2022
N2 - While travelers' desire to visit the world's most remote places has grown, the inefficiency of global payments indicates a significant barrier to tourism growth. As an emerging, decentralized, and borderless digital innovation, Bitcoin technology seems to have the ability to serve as a payment alternative and address such fundamental inefficiencies. On the other hand, bitcoin adoption can only happen when tourists and business owners choose to operate bitcoin simultaneously. The study has developed a novel Bitcoin Collaborative Network and Tourism Collaborative Network model to examine Bitcoin adoption factors. Then a fuzzy DEMATEL method was applied to the factors influencing the adoption domain, as identified based on an extensive literature review, in-depth interviews, and an international Delphi process. The study offered a model for the heterogeneous collaborative network of Bitcoin and Tourism (BCN and TCN), revealing that Perceived Usefulness is the most influencing criterion and the most prominent variable in Bitcoin Adoption. Bitcoin Technological Complexity, Government Regulatory, and Bitcoin Awareness are the factors that give the highest impacts. Also, Bitcoin's Technological Complexity is the most significant factor in bitcoin adoption. The findings might assist businesses in adopting a new market expansion strategy and benefiting from technological spillover, while government officials can explore new supporting legislation.
AB - While travelers' desire to visit the world's most remote places has grown, the inefficiency of global payments indicates a significant barrier to tourism growth. As an emerging, decentralized, and borderless digital innovation, Bitcoin technology seems to have the ability to serve as a payment alternative and address such fundamental inefficiencies. On the other hand, bitcoin adoption can only happen when tourists and business owners choose to operate bitcoin simultaneously. The study has developed a novel Bitcoin Collaborative Network and Tourism Collaborative Network model to examine Bitcoin adoption factors. Then a fuzzy DEMATEL method was applied to the factors influencing the adoption domain, as identified based on an extensive literature review, in-depth interviews, and an international Delphi process. The study offered a model for the heterogeneous collaborative network of Bitcoin and Tourism (BCN and TCN), revealing that Perceived Usefulness is the most influencing criterion and the most prominent variable in Bitcoin Adoption. Bitcoin Technological Complexity, Government Regulatory, and Bitcoin Awareness are the factors that give the highest impacts. Also, Bitcoin's Technological Complexity is the most significant factor in bitcoin adoption. The findings might assist businesses in adopting a new market expansion strategy and benefiting from technological spillover, while government officials can explore new supporting legislation.
KW - Bitcoin
KW - Tourism
KW - Blockchain
KW - Technology Adoption
KW - Fuzzy DEMATEL
KW - Alternative Payment Mechanism
U2 - 10.30699/ijf.2022.313006.1285
DO - 10.30699/ijf.2022.313006.1285
M3 - Article
SN - 2676-6345
VL - 6
SP - 57
EP - 80
JO - Iranian Journal of Finance
JF - Iranian Journal of Finance
IS - 4
ER -