Abstract

The study attempted to identify and verify how potential travelers accept cryptocurrencies as a payment form for travel products and services. In doing so, this study analyzed survey results from 311 cryptocurrency owners who traveled in the past 5 years. The results suggest that, for privately issued cryptocurrencies, uncertainty, social support, and social image have significant impacts on innovation resistance and that innovation resistance ultimately influenced intention to use through the mediation of problem-focused coping. In the case of Central Bank Digital Currencies (CBDCs), uncertainty, innovation orientation, and social support have significantly impacted innovation resistance, which ultimately influenced intention to use through the mediation of emotion/problem-focused coping. Lastly, these two results showed clear differences between the cryptocurrency types in terms of impact relationships between independent variables and innovation resistance as well as the mediating effect of emotion-focused coping. Furthermore, there were seemingly significant differences in the size of the path coefficients. Unlike existing studies that focused mostly on privately issued cryptocurrencies, this study drew results for both private and governmental cryptocurrencies, thereby hugely differentiating itself from previous studies by furnishing a multidimensional understanding of using cryptocurrencies in the tourism industry.

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