Factors affecting the adoption of cryptocurrencies for financial transactions

PurposeThis study contributes to examining the factors that drive the adoption of cryptocurrencies for financial transactions in the tourism and hospitality industries. This is crucial to develop tourism and hospitality and stimulate financial inclusion in developing and developed countries.Design/m...

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Bibliographic Details
Published in:EuroMed journal of business 2024-03, Vol.19 (1), p.46-61
Main Authors: Hani El Chaarani, Zouhour EL Abiad, Sam El Nemar, Sakka, Georgia
Format: Article
Language:English
Subjects:
Behavior
Blockchain
Customers
Digital currencies
Foreign exchange markets
Mobile commerce
Perceptions
Technology Acceptance Model
Tourism
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Summary:PurposeThis study contributes to examining the factors that drive the adoption of cryptocurrencies for financial transactions in the tourism and hospitality industries. This is crucial to develop tourism and hospitality and stimulate financial inclusion in developing and developed countries.Design/methodology/approachThis research paper employs the SEM model and bootstrapping method on a sample of 417 French participants involved in tourism and hospitality industries to reveal the causal pathway between a set of independent factors and the willingness to adopt cryptocurrencies for financial transactions.FindingsThe empirical findings reveal that ease of use, perceived usefulness, social influence, and financial literacy increase the willingness to use cryptocurrencies. French hotels need to have a strategic orientation, to deal with customers, competitors and changing technological environment. The study also reveals that social influence and financial literacy reduce the level of perceived financial risk and thus, leads to increase the intention to adopt the new type of decentralized currencies.Originality/valueIn contrast to previous studies that focused on the volatility and risk of cryptocurrencies, this research employs a human-centric approach covering different factors that could lead to the adoption of the new type of currency for financial transactions in tourism and hospitality industries.
ISSN:1450-2194
1758-888X
DOI:10.1108/EMJB-04-2023-0121