Factors Influencing Adoption of Cryptocurrency-Based Transaction from an Islamic Perspective
blockchain, cryptocurrency, bitcoin, behavioral intention, sharia compliance
This paper presents a user study of 201C;perception of the cryptocurrency-based transaction from the Islamic views201D;. The motivation lies with the fact that some users of cryptocurrency-based transaction raised concern on the nature of transactions with Bitcoin. Specifically, some argued that Bitcoin can be easily used for illegal purposes. Therefore, 201C;Technological Acceptance Model201D; was adopted and quantitative research methodology was utilized, to formulate and test some hypothesis that will lead to an establishment of a model. Sample of 306 participants was used in the study. The result of the hypothesis testing indicates that 201C;Behavioral Intention to Use Cryptocurrency from the Islamic perspective201D; is influenced directly by Shari2019;ah Compliance, Perceived Ease of Use, Emotionality, Perceived Usefulness, and Financial Concern. As evident from the analysis, Emotionality is influenced directly by Financial concern and Shari2019;ah Compliance. Whereas, Behavioral Intention is influenced indirectly by Financial Concern. The sample is general and does not specify a specific group of study. This study has contributed to understanding the Islamic issues behind the implementation of Cryptocurrency. This study adopted.
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