Abstract
This study is intended to solve a few constraints existed in physical gold dinar when used as a form of payment. One dinar is equal to 4.25 gram of fine gold. Specifically, this work proposes the use of e-commerce technology to solve those constraints. But before the actual system can be implemented, this research seeks to find out whether or not the public would be ready to adopt the concept of an electronic dinar payment system. The research framework is based on Unified Theory of Acceptance and Use of Technology (UTAUT) [1]. It measures the user acceptance based on these constructs; performance expectancy, effort expectancy, social influence, facilitating conditions, behavioral intention to use. In addition, anxiety and perceived credibility are added as two new constructs. Data collection is based on a questionnaire survey. From the descriptive analysis results, it is discovered that most of the respondents participated in this survey generally agree with the idea of using the proposed dinar based payment system (mean rating of above 4.00).
Highlights
With the prices of gold and silver having hit a new “all-time” high in August 2011, our society has begun to take notice and started to ponder on the importance of the two precious metals
This paper investigates the descriptive analysis results, of which the survey was distributed to 500 respondents in the Multimedia Super Corridor (MSC) area in Malaysia
The framework for this research is adapted from UTAUT model with an addition of two new constructs; to suitably explore the “intention to use” of an electronic dinar payment system
Summary
With the prices of gold and silver having hit a new “all-time” high in August 2011, our society has begun to take notice and started to ponder on the importance of the two precious metals (gold and silver). It was reported [2] that the US dollar has lost 82% of its purchasing power, as measured by the Consumer Price Index (CPI) since 1971. Prices of a few inflationary items are shown in RM as well as their corresponding prices in dinar (gold) In this case, the price performance (purchasing power) between these two competing currencies can be compared side by side. The readers can make a straight-forward comparison on the performance of purchasing power between fiat currency and that of sound money (dinar and dirham)
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