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Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia

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@article{IJASEIT6280,
   author = {Ku Ruhana Ku-Mahamud and Mazni Omar and Nur Azzah Abu Bakar and Ishola Dada Muraina},
   title = {Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia},
   journal = {International Journal on Advanced Science, Engineering and Information Technology},
   volume = {9},
   number = {4},
   year = {2019},
   pages = {1217--1222},
   keywords = {FinTech; smart contract; exchange and wallet services; Bitcoin; Ethereum},
   abstract = {Blockchain technology and cryptocurrency are attracting increasing attention from consumers, investors, investment industry and regulators. Cryptocurrency has great potential to be used for transaction or investment in the future. However, level of awareness of the blockchain technology and cryptocurrency is still at infant stage, specifically in developing countries. Thus, this study aims to investigate the level of awareness, trust and adoption of blockchain technology among blockchain community in Malaysia. Quantitative approach was adopted in this study where a new questionnaire was developed in the first phase to measure the level of awareness, adoption, and trust of blockchain technology applications among Malaysian blockchain communities. The resulting questionnaire consists of items on respondents’ demographic, their awareness, trust, and adoption of FinTech particularly on blockchain technology and cryptocurrency. In the second phase, a pilot study was conducted to validated the new questionnaire from 304 respondents. Reliability test using Cronbach’s alpha with a value of 0.908. A real survey was also conducted in this phase using the validated queationnaire and data were obtained online from 304 respondents. Descriptive statistics were used in the analysis during the third phase of the study, and results demonstrate that the awareness level of blockchain technology and cryptocurrency are at the intermediate level. Nevertheless, the majority of respondents are confident and trust that the blockchain technology can offer a stable and secure platform, which gives positive impact on the application of the technology. Empirical results provide significant insights into the development of the blockchain technology industry in the country.
},    issn = {2088-5334},    publisher = {INSIGHT - Indonesian Society for Knowledge and Human Development},    url = {http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=6280},    doi = {10.18517/ijaseit.9.4.6280} }

EndNote

%A Ku-Mahamud, Ku Ruhana
%A Omar, Mazni
%A Abu Bakar, Nur Azzah
%A Muraina, Ishola Dada
%D 2019
%T Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia
%B 2019
%9 FinTech; smart contract; exchange and wallet services; Bitcoin; Ethereum
%! Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia
%K FinTech; smart contract; exchange and wallet services; Bitcoin; Ethereum
%X Blockchain technology and cryptocurrency are attracting increasing attention from consumers, investors, investment industry and regulators. Cryptocurrency has great potential to be used for transaction or investment in the future. However, level of awareness of the blockchain technology and cryptocurrency is still at infant stage, specifically in developing countries. Thus, this study aims to investigate the level of awareness, trust and adoption of blockchain technology among blockchain community in Malaysia. Quantitative approach was adopted in this study where a new questionnaire was developed in the first phase to measure the level of awareness, adoption, and trust of blockchain technology applications among Malaysian blockchain communities. The resulting questionnaire consists of items on respondents’ demographic, their awareness, trust, and adoption of FinTech particularly on blockchain technology and cryptocurrency. In the second phase, a pilot study was conducted to validated the new questionnaire from 304 respondents. Reliability test using Cronbach’s alpha with a value of 0.908. A real survey was also conducted in this phase using the validated queationnaire and data were obtained online from 304 respondents. Descriptive statistics were used in the analysis during the third phase of the study, and results demonstrate that the awareness level of blockchain technology and cryptocurrency are at the intermediate level. Nevertheless, the majority of respondents are confident and trust that the blockchain technology can offer a stable and secure platform, which gives positive impact on the application of the technology. Empirical results provide significant insights into the development of the blockchain technology industry in the country.
%U http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=6280 %R doi:10.18517/ijaseit.9.4.6280 %J International Journal on Advanced Science, Engineering and Information Technology %V 9 %N 4 %@ 2088-5334

IEEE

Ku Ruhana Ku-Mahamud,Mazni Omar,Nur Azzah Abu Bakar and Ishola Dada Muraina,"Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia," International Journal on Advanced Science, Engineering and Information Technology, vol. 9, no. 4, pp. 1217-1222, 2019. [Online]. Available: http://dx.doi.org/10.18517/ijaseit.9.4.6280.

RefMan/ProCite (RIS)

TY  - JOUR
AU  - Ku-Mahamud, Ku Ruhana
AU  - Omar, Mazni
AU  - Abu Bakar, Nur Azzah
AU  - Muraina, Ishola Dada
PY  - 2019
TI  - Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia
JF  - International Journal on Advanced Science, Engineering and Information Technology; Vol. 9 (2019) No. 4
Y2  - 2019
SP  - 1217
EP  - 1222
SN  - 2088-5334
PB  - INSIGHT - Indonesian Society for Knowledge and Human Development
KW  - FinTech; smart contract; exchange and wallet services; Bitcoin; Ethereum
N2  - Blockchain technology and cryptocurrency are attracting increasing attention from consumers, investors, investment industry and regulators. Cryptocurrency has great potential to be used for transaction or investment in the future. However, level of awareness of the blockchain technology and cryptocurrency is still at infant stage, specifically in developing countries. Thus, this study aims to investigate the level of awareness, trust and adoption of blockchain technology among blockchain community in Malaysia. Quantitative approach was adopted in this study where a new questionnaire was developed in the first phase to measure the level of awareness, adoption, and trust of blockchain technology applications among Malaysian blockchain communities. The resulting questionnaire consists of items on respondents’ demographic, their awareness, trust, and adoption of FinTech particularly on blockchain technology and cryptocurrency. In the second phase, a pilot study was conducted to validated the new questionnaire from 304 respondents. Reliability test using Cronbach’s alpha with a value of 0.908. A real survey was also conducted in this phase using the validated queationnaire and data were obtained online from 304 respondents. Descriptive statistics were used in the analysis during the third phase of the study, and results demonstrate that the awareness level of blockchain technology and cryptocurrency are at the intermediate level. Nevertheless, the majority of respondents are confident and trust that the blockchain technology can offer a stable and secure platform, which gives positive impact on the application of the technology. Empirical results provide significant insights into the development of the blockchain technology industry in the country.
UR - http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=6280 DO - 10.18517/ijaseit.9.4.6280

RefWorks

RT Journal Article
ID 6280
A1 Ku-Mahamud, Ku Ruhana
A1 Omar, Mazni
A1 Abu Bakar, Nur Azzah
A1 Muraina, Ishola Dada
T1 Awareness, Trust, and Adoption of Blockchain Technology and Cryptocurrency among Blockchain Communities in Malaysia
JF International Journal on Advanced Science, Engineering and Information Technology
VO 9
IS 4
YR 2019
SP 1217
OP 1222
SN 2088-5334
PB INSIGHT - Indonesian Society for Knowledge and Human Development
K1 FinTech; smart contract; exchange and wallet services; Bitcoin; Ethereum
AB Blockchain technology and cryptocurrency are attracting increasing attention from consumers, investors, investment industry and regulators. Cryptocurrency has great potential to be used for transaction or investment in the future. However, level of awareness of the blockchain technology and cryptocurrency is still at infant stage, specifically in developing countries. Thus, this study aims to investigate the level of awareness, trust and adoption of blockchain technology among blockchain community in Malaysia. Quantitative approach was adopted in this study where a new questionnaire was developed in the first phase to measure the level of awareness, adoption, and trust of blockchain technology applications among Malaysian blockchain communities. The resulting questionnaire consists of items on respondents’ demographic, their awareness, trust, and adoption of FinTech particularly on blockchain technology and cryptocurrency. In the second phase, a pilot study was conducted to validated the new questionnaire from 304 respondents. Reliability test using Cronbach’s alpha with a value of 0.908. A real survey was also conducted in this phase using the validated queationnaire and data were obtained online from 304 respondents. Descriptive statistics were used in the analysis during the third phase of the study, and results demonstrate that the awareness level of blockchain technology and cryptocurrency are at the intermediate level. Nevertheless, the majority of respondents are confident and trust that the blockchain technology can offer a stable and secure platform, which gives positive impact on the application of the technology. Empirical results provide significant insights into the development of the blockchain technology industry in the country.
LK http://ijaseit.insightsociety.org/index.php?option=com_content&view=article&id=9&Itemid=1&article_id=6280 DO - 10.18517/ijaseit.9.4.6280