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Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective

Purpose: This paper presents a user study of “perception of the cryptocurrency-based transaction from the Islamic views”. Bitcoin is considered the special type of cryptocurrency used in this study. Users view bitcoin is as an app that provides a personal currency in a digital wallet through which t...

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Main Authors: Al-Hussaini, Abulfathi Ibrahim Saleh, Noordin, Mohamad Fauzan, Abubakar, Adamu, Mohd Mohadis, Hazwani
Format: Conference or Workshop Item
Language:English
English
Subjects:
AI Indexes (General)
H61.8 Communication of information
Online Access:http://irep.iium.edu.my/90352/1/90352_Empirical%20investigation%20on%20the%20barriers%20of%20adoption%20of%20cryptocurrency.pdf
http://irep.iium.edu.my/90352/2/Program.pdf
http://irep.iium.edu.my/90352/
https://ict4m.iium.edu.my/wp-content/uploads/2021/05/ICT4M-2021-Program-Book_compressed.pdf
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spelling my.iium.irep.903522021-08-05T06:44:45Z http://irep.iium.edu.my/90352/ Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective Al-Hussaini, Abulfathi Ibrahim Saleh Noordin, Mohamad Fauzan Abubakar, Adamu Mohd Mohadis, Hazwani AI Indexes (General) H61.8 Communication of information Purpose: This paper presents a user study of “perception of the cryptocurrency-based transaction from the Islamic views”. Bitcoin is considered the special type of cryptocurrency used in this study. Users view bitcoin is as an app that provides a personal currency in a digital wallet through which transactions can occur in order to either send, receive, buy, or sell the currency (bitcoins). Information System is an enabler of this mode of transaction, unfortunately, some users raised concern about the nature of transactions with Bitcoin. Specifically, some argued that Bitcoin can be easily used for illegal purposes and that the global public already uses Bitcoin mostly for illegal and Shari’ah non-compliant purposes under Islamic views. Design/methodology/approach: This study adopted “Technological Acceptance Model” and utilized quantitative research methodology, in order to formulate and test some hypotheses that will lead to an establishment of a model. A sample of 306 participants was used in the study. Findings: The result of the hypothesis testing indicate that “Behavioral Intention to Use Cryptocurrency from the Islamic perspective” is influenced directly by Shari’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 Shari’ah Compliance. Whereas, Behavioral Intention is influenced indirectly by Financial Concerns. Research limitations/implications: The sample is general and does not specify a specific group of study. Practical implications: This study has contributed to understanding the Islamic issues behind the implementation of Cryptocurrency Originality/value: The study formulates and tests a theory for cryptocurrency-based transaction from an Islamic view. Conference or Workshop Item NonPeerReviewed application/pdf en http://irep.iium.edu.my/90352/1/90352_Empirical%20investigation%20on%20the%20barriers%20of%20adoption%20of%20cryptocurrency.pdf application/pdf en http://irep.iium.edu.my/90352/2/Program.pdf Al-Hussaini, Abulfathi Ibrahim Saleh and Noordin, Mohamad Fauzan and Abubakar, Adamu and Mohd Mohadis, Hazwani Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective. In: 8th International Conference on Information and Communication Technology for the Muslim World, 4th-6th June 2021, Virtual. (Unpublished) https://ict4m.iium.edu.my/wp-content/uploads/2021/05/ICT4M-2021-Program-Book_compressed.pdf
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic AI Indexes (General)
H61.8 Communication of information
spellingShingle AI Indexes (General)
H61.8 Communication of information
Al-Hussaini, Abulfathi Ibrahim Saleh
Noordin, Mohamad Fauzan
Abubakar, Adamu
Mohd Mohadis, Hazwani
Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective
description Purpose: This paper presents a user study of “perception of the cryptocurrency-based transaction from the Islamic views”. Bitcoin is considered the special type of cryptocurrency used in this study. Users view bitcoin is as an app that provides a personal currency in a digital wallet through which transactions can occur in order to either send, receive, buy, or sell the currency (bitcoins). Information System is an enabler of this mode of transaction, unfortunately, some users raised concern about the nature of transactions with Bitcoin. Specifically, some argued that Bitcoin can be easily used for illegal purposes and that the global public already uses Bitcoin mostly for illegal and Shari’ah non-compliant purposes under Islamic views. Design/methodology/approach: This study adopted “Technological Acceptance Model” and utilized quantitative research methodology, in order to formulate and test some hypotheses that will lead to an establishment of a model. A sample of 306 participants was used in the study. Findings: The result of the hypothesis testing indicate that “Behavioral Intention to Use Cryptocurrency from the Islamic perspective” is influenced directly by Shari’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 Shari’ah Compliance. Whereas, Behavioral Intention is influenced indirectly by Financial Concerns. Research limitations/implications: The sample is general and does not specify a specific group of study. Practical implications: This study has contributed to understanding the Islamic issues behind the implementation of Cryptocurrency Originality/value: The study formulates and tests a theory for cryptocurrency-based transaction from an Islamic view.
format Conference or Workshop Item
author Al-Hussaini, Abulfathi Ibrahim Saleh
Noordin, Mohamad Fauzan
Abubakar, Adamu
Mohd Mohadis, Hazwani
author_facet Al-Hussaini, Abulfathi Ibrahim Saleh
Noordin, Mohamad Fauzan
Abubakar, Adamu
Mohd Mohadis, Hazwani
author_sort Al-Hussaini, Abulfathi Ibrahim Saleh
title Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective
title_short Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective
title_full Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective
title_fullStr Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective
title_full_unstemmed Empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an Islamic perspective
title_sort empirical investigation on the barriers of adoption of cryptocurrency-based transaction from an islamic perspective
url http://irep.iium.edu.my/90352/1/90352_Empirical%20investigation%20on%20the%20barriers%20of%20adoption%20of%20cryptocurrency.pdf
http://irep.iium.edu.my/90352/2/Program.pdf
http://irep.iium.edu.my/90352/
https://ict4m.iium.edu.my/wp-content/uploads/2021/05/ICT4M-2021-Program-Book_compressed.pdf
_version_ 1707765666565586944
score 13.211869

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