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ORIGINAL RESEARCH article

Front. Blockchain
Sec. Financial Blockchain
Volume 7 - 2024 | doi: 10.3389/fbloc.2024.1220031
This article is part of the Research Topic User Behaviors in Online Communities: Digital Collaboration and Advanced Applications View all 6 articles

The second extended model of consumer trust in cryptocurrency payments, CRYPTOTRUST 2

Provisionally accepted
Alex Zarifis Alex Zarifis 1,2*Shixuan Fu Shixuan Fu 3
  • 1 Université Paris Dauphine, Paris, France
  • 2 Cambridge Centre for Alternative Finance, Cambridge Judge Business School, Faculty of Business and Management, School of Technology, University of Cambridge, Cambridge, United Kingdom
  • 3 University of Science and Technology Beijing, Beijing, China

The final, formatted version of the article will be published soon.

    Cryptocurrencies' popularity is growing despite short-term fluctuations. Peer-reviewed research into trust in cryptocurrency payments started in 2014. While the model created then, is based on proven theories from psychology and supported by empirical research, a-lot has changed in the past 10 years. This research finds that the original model is still valid, but it is extended to capture the current situation better. A quantitative methodology is used to validate the updated model proposed. The results from the quantitative survey show that (1) personal innovativeness in technology and (2) finance, influence (3) disposition to trust. Disposition to trust influences six variables from the specific context of the payment. Three variables related to the cryptocurrency itself are (4) stability in the value, (5) transaction fees, and (6) reputation. Institutional trust is influenced by (7) regulation, and (8) payment intermediaries. The last contextual factor is (9) trust in the retailer. The six variables from the context influence (10) trust in the payment which, finally, influences (11) the likelihood of making the cryptocurrency payment.

    Keywords: Trust, cryptocurrency, digital currency, payment, FinTech, Institutional trust, Ethereum, bitcoin

    Received: 09 May 2023; Accepted: 31 Jul 2024.

    Copyright: © 2024 Zarifis and Fu. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

    * Correspondence: Alex Zarifis, Université Paris Dauphine, Paris, 75775 CEDEX 16, France

    Disclaimer: All claims expressed in this article are solely those of the authors and do not necessarily represent those of their affiliated organizations, or those of the publisher, the editors and the reviewers. Any product that may be evaluated in this article or claim that may be made by its manufacturer is not guaranteed or endorsed by the publisher.