Abstract
Today’s world is increasingly dependent on technology directly or indirectly. The rapid technological advancement has impacted people to adopt the technology. As cryptocurrency recently commenced, few studies have attempted to investigate this use of technology. In this study, the technology readiness aspects- Optimism, Innovativeness, Discomfort, and Insecurity are used to understand the people’s adoption of cryptocurrency. A multi-approach of Partial Least Squares- Structural Equation Modeling (PLS-SEM) and Deep learning Artificial Neural Network (ANN) analysis was performed. Deep learning Artificial Neural Network (ANN) analysis was performed to complement PLS-SEM findings and predict higher accuracy. This study shows that technology readiness dimensions - Optimism, Innovativeness, Discomfort, and Insecurity have meaningful relationships with cryptocurrency adoption.
Highlights
The advancement in technology has made our lives easier in many ways
Deep learning-based Artificial Neural Network (ANN) analysis was performed to complement Partial Least Squares- Structural Equation Modeling (PLS-Structural Equation Modeling (SEM)) findings
The results show that Optimism and Innovativeness have a positive impact, while Discomfort and Insecurity have a negative impact on cryptocurrency adoption
Summary
The advancement in technology has made our lives easier in many ways. Such as online trading increasingly influences today’s highly competitive world. The evolving technology has created its new product called cryptocurrency, a digital currency that has recently impacted the world economy. Cryptocurrency is a peer-to-peer virtual cash model that allows users to pay the other party directly without any financial institution. Bitcoin is a popular Cryptocurrency developed in 2008 by Satoshi Nakamoto. The Cryptocurrency market and adoption are exceptionally complicated [1]
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