An investigation into the diffusion of the cryptocurrency innovation

The information age has dawned upon us through the comprehensive and boundless adoption of the internet; E-banking and smart-phones thus, causing a reliance on online transaction sys-tems reducing the need to handle tangible cash notes. The current monetary system is arguably on the cusp of an evol...

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Main Author: Wesley, Matthew
Other Authors: Jyväskylä University School of Business and Economics, Jyväskylän yliopiston kauppakorkeakoulu, Taloustieteet, Business and Economics, Jyväskylän yliopisto, University of Jyväskylä
Format: Master's thesis
Language:eng
Published: 2018
Subjects:
Online Access: https://jyx.jyu.fi/handle/123456789/58774
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author Wesley, Matthew
author2 Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_facet Wesley, Matthew Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä Wesley, Matthew Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
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description The information age has dawned upon us through the comprehensive and boundless adoption of the internet; E-banking and smart-phones thus, causing a reliance on online transaction sys-tems reducing the need to handle tangible cash notes. The current monetary system is arguably on the cusp of an evolutionary moment through the adoption of virtualised currencies, this phe-nomenon potentially possesses the next metamorphic step in contemporary global economic money. Cryptocurrency is a radical new innovation, and has become a widely debated topic over the past few years despite this, the topic of the diffusion of innovation and the procedures which the phenomenon needs to overcome have had relatively small amounts of academic attention in comparison to other fields of research. Therefore, this study aims to identify how cryptocurrency is diffusing through the diffusion of innovation model with the intention of identifying the current location of diffusion; this in turn will create a more universalised understanding of the phenomenon in regards to other radical innovations. Due to the nature of the study, the conducted research utilised a qualitative method. Additional-ly, the focus on collecting data which will positively reflect an academic study with the purpose of uncovering information in alignment with the research questions of the study at hand lead to an ‘interpretivist’ methodology. Hence, 10 interviews were conducted of which the interviewees came from a range of different countries allowing the researcher to identify information rich da-ta. This approach allowed for two pathways of research to occur. Firstly, the non/potential in-vestors of which had basic cryptocurrency knowledge and secondly, current users/investors of which had an overall understanding of the cryptocurrency phenomenon. Furthermore, the pri-mary data alongside the utilisation of secondary survey questions and the literature allowed for a wider understanding of the phenomenon. The results of the study unveiled a range of trends and developments in the diffusion process. Accordingly, these findings advance the understanding of the micro, macro and psychological factors which are present in the diffusion of the cryptocurrency innovation. Thereby, the re-search draws attention to how a range of barriers synergistically working together requires a synergistic strategic approach from governments and individuals to surpass the current diffu-sion position and progress further, in turn increasing the chances of mainstream adoption.
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The current monetary system is arguably on the cusp of an evolutionary moment through the adoption of virtualised currencies, this phe-nomenon potentially possesses the next metamorphic step in contemporary global economic money.\r\n\r\nCryptocurrency is a radical new innovation, and has become a widely debated topic over the past few years despite this, the topic of the diffusion of innovation and the procedures which the phenomenon needs to overcome have had relatively small amounts of academic attention in comparison to other fields of research. Therefore, this study aims to identify how cryptocurrency is diffusing through the diffusion of innovation model with the intention of identifying the current location of diffusion; this in turn will create a more universalised understanding of the phenomenon in regards to other radical innovations. \r\n\r\nDue to the nature of the study, the conducted research utilised a qualitative method. 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spellingShingle Wesley, Matthew An investigation into the diffusion of the cryptocurrency innovation cryptocurrency Yrittäjyys Entrepreneurship 20422 sähköinen raha virtuaalivaluutta valuutta rahajärjestelmät electronic money virtual currency currency monetary systems
title An investigation into the diffusion of the cryptocurrency innovation
title_full An investigation into the diffusion of the cryptocurrency innovation
title_fullStr An investigation into the diffusion of the cryptocurrency innovation An investigation into the diffusion of the cryptocurrency innovation
title_full_unstemmed An investigation into the diffusion of the cryptocurrency innovation An investigation into the diffusion of the cryptocurrency innovation
title_short An investigation into the diffusion of the cryptocurrency innovation
title_sort investigation into the diffusion of the cryptocurrency innovation
title_txtP An investigation into the diffusion of the cryptocurrency innovation
topic cryptocurrency Yrittäjyys Entrepreneurship 20422 sähköinen raha virtuaalivaluutta valuutta rahajärjestelmät electronic money virtual currency currency monetary systems
topic_facet 20422 Entrepreneurship Yrittäjyys cryptocurrency currency electronic money monetary systems rahajärjestelmät sähköinen raha valuutta virtuaalivaluutta virtual currency
url https://jyx.jyu.fi/handle/123456789/58774 http://www.urn.fi/URN:NBN:fi:jyu-201806293400
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