Braving Bitcoin: A Technology Acceptance Model Analysis

Journal of Information Technology Case and Application Research, Volume 18, Issue 4, p. 220-249, 2016 DOI:10.1080/15228053.2016.1275242

30 Pages Posted: 22 Jun 2017

See all articles by Daniel Folkinshteyn

Daniel Folkinshteyn

Rowan University - Accounting & Finance

Mark M. Lennon

Pennsylvania State University

Date Written: October 2016

Abstract

The Technology Acceptance Model (TAM) is an important analytical tool in the study of the social mechanisms of technology adoption, and has received considerable attention in the literature. Though empirical support for the model has varied depending on situation specifics, it remains a popular and useful conceptual framework for analysis of factors contributing to technology acceptance or rejection by the relevant constituencies. Bitcoin is an entirely digital distributed currency whose disruptive and disintermediating nature has fueled the tremendous growth of the financial technology space over the past few years. Bitcoin's distributed, verifiable, and immutable public transaction ledger, known as the blockchain, holds out the promise of fast, cheap, peer-to-peer financial transactions, as well as significant efficiencies in the transfer of other assets via overlay networks. Through an extensive review of the existing academic and practitioner literature about both TAM and Bitcoin, we use the TAM framework to analyze aspects of the technology acceptance process in the case of Bitcoin as a currency and the blockchain as a financial technology. We present our findings from the perspective of both Developers and End Users, in order to identify similarities and differences in how various stakeholders accept this new technology. We illustrate these findings with a series of condensed case studies drawn from secondary sources. These findings are then triangulated with an in depth single case study of a blockchain based auction system drawn from primary sources.

Keywords: Bitcoin, Blockchain, Technology Acceptance Model

Suggested Citation

Folkinshteyn, Daniel and Lennon, Mark M., Braving Bitcoin: A Technology Acceptance Model Analysis (October 2016). Journal of Information Technology Case and Application Research, Volume 18, Issue 4, p. 220-249, 2016 DOI:10.1080/15228053.2016.1275242. Available at SSRN: https://ssrn.com/abstract=2910803

Daniel Folkinshteyn (Contact Author)

Rowan University - Accounting & Finance ( email )

Glassboro, NJ 08028
United States

Mark M. Lennon

Pennsylvania State University ( email )

1431 12th Ave
211 Aaron Building
Altoona, PA 16601-3760
United States

HOME PAGE: http://www.markphd.com

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