Identifying effective factors in accepting digital currency in knowledge-based companies

Document Type : Research Paper

Authors

1 Department Business Administration, Faculty of International Campus, Shiraz University, Shiraz, Iran.

2 Department of management, Faculty of Management, Economics and Social Sciences, Shiraz University, Shiraz, Iran.

Abstract

Objective: The current research has been conducted with the aim of identifying and investigating the effective factors of digital currency technology adoption in knowledge-based companies of Shiraz. The current research is considered an applied research in terms of its purpose. Considering that the purpose of this research is to provide a model and framework to identify factors affecting the adoption of digital currency technology; Therefore, no specific hypothesis is proposed for this research, but instead of testing the hypothesis, the researcher seeks to find the answers to the research questions as follows.

What dimensions, components and indicators are included in the model of factors influencing the adoption of digital currency technology?
What is the impact of the specified dimensions and factors on the adoption of digital currency technology in knowledge-based companies in Shiraz?

In the new research method, the scope of the research is limited in terms of space, time and subject, so that there is a necessary focus on the subjects and the researcher can reach the desired answer by posing questions. Therefore, in this research, the subject, spatial and temporal scope of the current research are:

Subject area: The current research is thematic in the field of digital marketing management in order to identify and examine the appropriate factors for the adoption of digital currency technology in knowledge-based companies.
Spatial territory: Spatial territory of a research represents the environment of that research and the place where the research is carried out. In the current research, knowledge-based companies located in Science and Technology Park in Shiraz city and other knowledge-based companies in Shiraz city are selected as the spatial territory.
Time domain: it is very important to conduct a research and collect its data in specific and precise time ranges, therefore the time range of this research is divided into two qualitative and quantitative categories, which is the collection of research literature and qualitative data in the second half of 2022 and Quantitative data collection and analysis was done in the first half of 2023.

Method: Considering that this research uses a mixed approach, in the current research, in the qualitative section, through library studies, information is collected about indicators related to the acceptability of digital currency technology using the theories of technology acceptability, and in the section Shortly after designing the research model and model, the model is tested by examining the relationships between the variables. So this research will work with a mixed method. Therefore, the approach of this research is presented in an inductive and comparative form, the analysis method of this research is in the qualitative part of the content analysis using the information obtained from the studies and in the quantitative part, the survey strategy will be used in the knowledge-based companies of Shiraz. This research will be exploratory in the qualitative part and descriptive in the quantitative part, because in the qualitative discussion the researcher is looking for revelation and understanding and in the quantitative part, he is looking for description and explanation. The environment of this research will be in the qualitative part of the library and in the quantitative part of the field. In terms of philosophical foundations, this research is placed in the pragmatism paradigm. In this research, which uses qualitative content analysis, after defining the main question of the research, the researcher looks for the indicators needed for the research, then the indicators are divided into smaller categories in the form of coded categories and the smaller components are displayed in the form of more regular dimensions. According to these steps, first the research problem regarding the necessity or non-obligation of accepting digital currency in knowledge-based companies was determined, and the research question was determined that what dimensions, components and indicators are included in the digital currency technology acceptance model? After that, the research variables were selected based on the previous research literature and then its sampling, which includes articles, books, magazines and other scientific publications regarding the adoption of new technologies, especially digital currency. was selected, and in the next step, coding and categorization were done using related researches that have been done, and finally, the validity and reliability of the model was tested, and in other words, the final model was fitted.
Results: The variables of economic control and economic trust are from the dimensions of economy-related factors, appropriate distribution and access variables, price-related factors, advertising from the dimension of marketing factors and individual trust variables, perceptual factors, attitude and related factors with the health of people, they can influence the acceptance of digital currency technology from an individual and social perspective. And only the variable of subjective norms from the individual and social dimension could not get the acceptable quorum.
Conclusion: Factors related to the economy, effective factors, and individual and social factors each contribute to the adoption of digital currency technology in knowledge-based companies in Shiraz.

Keywords

Main Subjects


برهانی، سید عباس؛ باباجانی، جعفر؛ رئیسی ونانی، ایمان؛  صابر شعری آناقیز و جمالیان پور، مظفر. (1400). تعیین نقش جدید حسابداران، شناسایی چالشها و نقاط ضعف فنّاوری زنجیره بلوکی با استفاده از مدل پذیرش فن آوری، فصلنامه دانش حسابداری مالی، 8(2)، 1-29. DOI: 10.30479/jfak.2021.15239.2842
حسین صلاح الدین مغدد. (1400). بررسی تأثیر عوامل مختلف مؤثر بر پذیرش فنّاوری بر استفاده واقعی دراقلیم کردستان عراق از ارزهای دیجیتال، پایان نامه کارشناسی ارشد، دانشگاه ارومیه.
ذکیلو، زینب. (1401). بررسی تأثیر وابستگی به تکنولوژی و شفافیت بلاک چین در رفتار شهروندان نسبت به پذیرش رمزارزها با نقش میانجیگری اعتماد، تهران: پایان نامه کارشناسی ارشد، دانشگاه پیام نور استان تهران.
رزمجو، علی اکبر و رزمجو، مریم. (1398). جایگاه قانون تبادلات ارزی بیت کوین در نظام‌های پرداخت بین المللی با نگاهی به قانون تبادلات ارزی دیجیتال در ایران، حقوقی، 9(6)، 11-34.DOI: 10.22108/law.2019.24284
رونقی، محمد‌حسین، زین الدین زاده، سارا و علم بلادی، سپهر. (1398). شناسایی و رتبه بندی عوامل مؤثّر بر پیاده سازی مدیریت دانش با استفاده از روش فراترکیب. کتابداری و اطلاع‌رسانی. 22(3)، 112-135. DOI: 10.30481/ijlis.2019.183033.1553
سیدحسینی، میرمیثم و دعائی، میثم. (1393). بیت کوین نخستین پول مجازی، ماهنامه بورس، 114-115(2)، 84-88.
شکوری، سجاد. (1398). بررسی تأثیر پذیرش بلاک‌چین بر انتظار رفتاری فنّاوری بلاک‌چین مدیران با میانجی گری تغییر تمایل رفتاری، پایان نامه کارشناسی ارشد، رشت: موسسه آموزش عالی راهبرد شمال.
غلامی معاف، کمیل. (1399). ارزیابی عوامل مؤثر در پذیرش فنّاوری بیت کوین در ایران با استفاده از فرانظریه یکپارچه پذیرش و استفاده از فنّاوری (مورد مطالعه: کاربران و خبرگان بیت کوین)، پایان نامه کارشناسی ارشد، رشت: موسسه آموزش عالی راهبرد شمال.
فرقان‌دوست‌حقیقی، کامبیز. و نداف، رضوانه. (1397). مروری بر رمز ارز‌‌ها، فرصت‌‌‌ها و تهدید‌‌‌ها، رویکرد‌‌های پژوهشی نوین در مدیریت و حسابداری، 9(2)، 140-153.
قزوینی، هادی؛ ملکی مین باش رزگاه، مرتضی؛ فیض، داود و دهقانی سلطانی، مهدی. (1402). طراحی مدلی از بازیگران اکوسیستم نوآوری جهت ورود شرکت‌های دانش‌بنیان به بازارهای بین‌المللی. فصلنامه علمی پژوهشی توسعه کارآفرینی، 16(2)، 65-76. DOI: 10.22059/jed.2023.351382.654096
مجاب، رامین و ابراهیمی، سجاد. (1398). نقش پذیرش دیجیتال در ارتباط توسعه صنعت پرداخت و رشد اقتصادی، فصلنامه پژوهش‌های پولی - بانکی، 12(41)، 377-412.
محمد زاده، محبوبه. (1400). تحلیل عناصر مؤثر بر پذیرش ارزهای دیجیتال در مبادلات بین الملل، پایان نامه کارشناسی ارشد، دانشگاه خوارزمی.
منصوری، حسین و استخریان‌حقیقی، امیررضا. (1401، تیر). نقش و گسترش کاربرد رمز ارزها در تجارت الکترونیک. کنفرانس ملی مدیریت و تجارت الکترونیک، تهران.
موسوی نژاد، سیدفتح‌الله موسوی‌نژاد و رنجبر، مختار. (1401). ارزهای دیجیتال، پولشویی و راهکارهای مقابله با آن در قوانین بین المللی، نشریه جامعه شناسی سیاسی ایران، 5(11)، 3766-3774. DOI: 10.30510/PSI.2022.291662.1860
نظرپوری، امیرهوشنگ و شاه‌سیاه، ندا. (1397). بررسی نقش تعدیل‌گری یادگیری زدایی در ارتباط بین سازگاری دانش جدید و انتقال دانش در شرکت دانش‌بنیان، پژوهش‌های مدیریت در ایران، 28(22)، 23-47. DOI: 20.1001.1.2322200.1397.22.4.2.7
وحید پناه، مریم. (1400). پذیرش تجاری ارزهای دیجیتال، آمل: پایان نامه کارشناسی ارشد، موسسه آموزش عالی آمل.
 
Aggarwal, S., & Kumar, N. (2021). History of blockchain-blockchain 1.0: Currency. In Advances in Computers, 121, 147-169. DOI:100.1016/bs.adcom.2020.08.008
Alzahrani, S., & Daim, T. U. (2019). Evaluation of the cryptocurrency adoption decision using hierarchical decision modeling (HDM). In 2019 Portland International Conference on Management of Engineering and Technology (PICMET) (pp. 1-7). IEEE. DOI: 10.23919/PICMET.2019.8893897
An, S., Eck, T., & Yim, H. (2023). Understanding consumers’ acceptance intention to use mobile food delivery applications through an extended technology acceptance model. Sustainability15(1), 832. DOI: 10.3390/su15010832
Arias-Oliva, M., Pelegrín-Borondo, J., & Matías-Clavero, G. (2019). Variables influencing cryptocurrency use: a technology acceptance model in spain. Frontiers in Psychology10, 475-485. DOI: 10.3389/fpsyg.2019.00475
Borhani, S. B., Babajani, J., Raisi Venani, A., Saber Sheari Anaghiz, p. and Jamalianpour, M. (2021). Determining the new role of accountants, identifying the challenges and weaknesses of blockchain technology using the technology acceptance model, Financial Accounting Knowledge Quarterly, 8(2), 1-29. (InPersian). DOI: 10.30479/jfak.2021.15239.2842
Cheng, R. J. (2020). UTAUT Implementation of Cryptocurrency based Islamic Financing Instrument. International Journal of Academic Research in Business and Social Sciences. 10(9), 873-884. DOI :10.6007/IJARBSS/v10-i9/7880
Christidis, K., & Devetsikiotis, M. (2016). Blockchains and smart contracts for the internet of things. Ieee Access4, 2292-2303.DOI: 10.1109/ACCESS.2016.2566339
Crosby, M., Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). Blockchain technology: Beyond bitcoin. Applied Innovation2(6-10), 71. Retrieved from https://scet.berkeley.edu/wp-content/uploads/AIR-2016-Blockchain.pdf.
Daskalov, H. (2017). Application of cryptocurrency innovation beyond the financial world. The case of the blockchain as a medium for organization of Academia-Business cooperation. MONETARY REGIMES 20 YEARS OF CURRENCY BOARD IN BULGARIA, 162.
David, F. R., & David, F. R. (2013). Strategic management: Concepts and cases: A competitive advantage approach. Pearson.
DeVries, P. D. (2016). An analysis of cryptocurrency, bitcoin, and the future. International Journal of Business Management and Commerce1(2), 1-9. Retrieved from https://www.researchgate.net/publication/316656878_An_Analysis_of_Cryptocurrency_Bitcoin_and_the_Future.
Forghan Dost Haghighi K., & Nadaf R. (2017). An overview of cryptocurrencies, opportunities and threats. Scientific Journal of New Research Approaches in Management and Accounting, 2(7), 61-74. (InPersian. Retrieved from https://majournal.ir/index.php/ma/article/view/118.
Gabalán-Coello, J., Vásquez-Rizo, F. E., & Perafán-Chacón, L. E. (2019). Bitcoin’s Crypto Currency: An Analysis from Operational Research and Information Management. Indian Journal of Science and Technology12(26), 974-984. DOI: 10.17485/ijst/2019/v12i26/145379
Ghazvini, H., Maleki Minbashrazgah, M., feiz, D., & Dehghani Soltani, M. (2023). Designing a Model of Innovation Ecosystem Actors for the Entry of Knowledge-based Companies into International Markets. Journal of Entrepreneurship Development, 16(2), 65-76. (InPersian). DOI: 10.22059/jed.2023.351382.654096
Gholami Moaf, K. (2020). Evaluating the effective factors in the acceptance of Bitcoin technology in Iran using the integrated meta-theory of acceptance and use of technology (case study: users and experts of Bitcoin), Master's thesis, Rahbord Shomal Institute of Higher Education, Rasht, Iran. (InPersian)
Hashemi Joo, M., Nishikawa, Y., & Dandapani, K. (2020). Cryptocurrency, a successful application of blockchain technology. Managerial Finance46(6), 715-733. DOI: 10.1108/MF-09-2018-0451
Hossein S, A, M. (2019). Investigating the effect of various factors affecting the acceptance of technology on the actual use of digital currencies in the climate of Iraqi Kurdistan, master's thesis, Urmia University, Urmia, Iran. (InPersian)
Kawasmi, Z., Gyasi, E. A., & Dadd, D. (2020). Blockchain adoption model for the global banking industry. Journal of International Technology and Information Management28(4), 112-154. DOI: 10.58729/1941-6679.1436
Mansouri, H & Estakhrianhaghighi. (2022, july). The role and expansion of the use of cryptocurrencies in electronic commerce. National Conference on Management and Electronic Commerce, Tehran. (InPersian)
Mohammadzadeh, M. (2019). Analysis of factors affecting the acceptance of digital currencies in international exchanges, Master's thesis, Kharazmi University. Tehran Province, Iran. (InPersian)
Möhlmann, M., Teubner, T., & Graul, A. (2019). "Leveraging trust on sharing economy platforms: reputation systems, blockchain technology and cryptocurrencies". In Handbook of the Sharing Economy. Cheltenham, UK: Edward Elgar Publishing
Mojab, R. and Ebrahimi, S. (2019). The role of digital adoption in the relationship between payment industry development and economic growth, Quarterly Journal of Monetary and Banking Research, 12(41), 377-412. (InPersian). DOI:20.1001.1.26453355.1398.12.41.5.3
Mosavi nejad, S. F., & Ranjbar, M. (2023). Digital currencies, money laundering and countermeasures in international law. Political Sociology of Iran, 5(11), 3766-3774. (InPersian). DOI: 10.30510/PSI.2022.291662.1860
Muhammad, M., Muhammad, M. R., & Khalil, K. M. (2013). Towards Shari’ah compliant e-commerce transactions: A review of amazon. com. Middle-East Journal of Scientific Research15(9), 1229-1236. DOI: 10.5829/idosi.mejsr.2013.15.9.11176
Narayanan, A., Bonneau, J., Felten, E., Miller, A., & Goldfeder, S. (2016). Bitcoin and cryptocurrency technologies: a comprehensive introduction. Princeton University Press.
Nazarpoori, A., Shahsiah, N. (2021). Studying Unlearning Moderation Role on Relationship between New Knowledge Compatibility and Knowledge Transfer in Knowledge Based Companies. Management Research in Iran, 22(4), 22-46. (InPersian). DOI: 20.1001.1.2322200.1397.22.4.2.7
Nowiński, W., & Kozma, M. (2017). How can blockchain technology disrupt the existing business models?, Entrepreneurial Business and Economics Review5(3), 173-188. DOI: 10.15678/EBER.2017.050309
Peck, M. E. (2017). Blockchains: How they work and why they'll change the world. IEEE spectrum54(10), 26-35. DOI: 10.1109/MSPEC.2017.8048836
Prayogo, G. (2018). Bitcoin, regulation and the importance of national legal reform. Asian Journal of Law and Jurisprudence1(1), 1-9. Retrieved from https://www.researchgate.net/publication/328064514_BITCOIN_REGULATION_AND_THE_IMPORTANCE_OF_NATIONAL_LEGAL_REFORM.
Razmjoo, A. A., & Razmjoo, M. (2019). The position of the Bitcoin currency exchange law in international payment systems by looking at the digital exchange rate law in Iran. law magazine6(2), 11-34. (InPersian). DOI: 10.22108/law.2019.24284
Ronaghi, M. H. (2022). Contextualizing the impact of blockchain technology on the performance of new firms: The role of corporate governance as an intermediate outcome. The Journal of High Technology Management Research, 33(2), 100438. DOI: 10.1016/j.hitech.2022.100438
Ronaghi, M. H. (2023a). A contextualized study of blockchain technology adoption as a digital currency platform under sanctions. Management Decision, 61(5), 1352-1373. DOI: 10.1108/MD-03-2022-0392
Ronaghi, M. H. (2023b). The influence of artificial intelligence adoption on circular economy practices in manufacturing industries. Environment, Development and Sustainability, 25(12), 14355-14380. DOI: 10.1007/s10668-022-02670-3
Ronaghi, M. H., & Mosakhani, M. (2022). The effects of blockchain technology adoption on business ethics and social sustainability: evidence from the Middle East. Environment, Development and Sustainability, 24(5), 6834-6859. DOI: 10.1007/s10668-021-01729-x
Ronaghi, M. H., Zeinodinzadeh, S., & Alambeladi, S. (2019). Identification and Ranking the Factors Affecting the Knowledge Management Implementation Using Metasynthesis Method. Library and Information Sciences, 22(3), 112-135. (In Persian). DOI: 10.30481/ijlis.2019.183033.1553
Saleh, A. H. A. I., Ibrahim, A. A., Noordin, M. F., & Mohadis, H. M. (2020). Factors Influencing Adoption of Cryptocurrency-Based Transaction from an Islamic Perspective. Global Journal of Computer Science and Technology. 20(G4), 21–32. Retrieved from https://computerresearch.org/index.php/computer/article/view/1936.
Salokhiddin, T., Gulbakhor, G., Alimdjanovna, M. N., & Shakhlokhon, A. (2023). BLOCKCHAIN AND CRYPTOCURRENCIES ARE CHANGING THE LANDSCAPE OF THE DIGITAL ECONOMY. American Journal Of Social Sciences And Humanity Research3(04), 72-79. DOI: 10.37547/ajsshr/Volume03Issue04-14
Sas, C., & Khairuddin, I. E. (2017, May). Design for trust: An exploration of the challenges and opportunities of bitcoin users. In Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems (pp. 6499-6510). Retrieved from https://eprints.lancs.ac.uk/id/eprint/83765/1/Design_for_trust.pdf
Seyed Hosseini, M. & Doa'i, M. (2014). Bitcoin, the first virtual currency, Stock Exchange Monthly, 114-115(2), 84-88. (InPersian)
Shakuri, S. (2019). Examining the impact of blockchain adoption on managers' behavioral expectation of blockchain technology through the mediation of behavioral intention change, master's thesis, Rahbord Shomal Institute of Higher Education, Rasht, Iran. (InPersian)
Spenkelink, H. F. (2014). The Adoption Process of Cryptocurrencies-Identifying factors that influence the adoption of cryptocurrencies from a multiple stakeholder perspective(Master's thesis, University of Twente).
Taherdoost, H. (2018). A review of technology acceptance and adoption models and theories. Procedia manufacturing22, 960-967. DOI: 10.1016/j.promfg.2018.03.137
Vahid Panah, M. (2019). Commercial Acceptance of Digital Currencies, Master's Thesis, Amol Institute of Higher Education, Amol, Iran. (InPersian)
Yang, H. D., & Yoo, Y. (2004). It's all about attitude: revisiting the technology acceptance model. Decision support systems38(1), 19-31. DOI: 10.1016/S0167-9236(03)00062-9
Zakilo, Z. (2020). Investigating the effect of technology dependence and blockchain transparency on citizens' behavior towards accepting cryptocurrencies with the mediation role of trust, Master's Thesis, Payam Noor University, Tehran Province, Iran. (InPersian)
Zhao, J. L., Fan, S., & Yan, J. (2016). Overview of business innovations and research opportunities in blockchain and introduction to the special issue. Financial innovation2(1), 1-7. DOI: 10.1186/s40854-016-0049-2