Understanding consumers’ resistance to pay with cryptocurrency in the sharing economy: A hybrid SEM-fsQCA approach

Abstract

The sharingeconomy has enabled people to generate income from the excess capacity that they possess. With that said, blockchain technology in the form of cryptocurrency has disrupted the way in which transactions are facilitated in sharing economy. However, consumers’ resistance to paying with cryptocurrency in the sharing economy remains a challenge for the stakeholders. This research was developed grounded on the foundation of Status Quo Bias theory to address the matter. Data was collected through online survey and subsequently analyzed with a hybrid SEM-fsQCA approach. It was revealed that complexity, skepticism, habit, and inertia are significant antecedents of consumers’ resistance to pay with cryptocurrency in the sharing economy. This study provided insights that would be of great value to stakeholders in the sharing economy. Additionally, this study is expected to serve as reference to future research in the areas of cryptocurrency, consumer behavior, sharing economy, and innovation resistance.