Understanding the creation of Trust in Cryptocurrencies: Bitcoin

Research output: Chapter in Book/Report/Conference proceedingConference contributionScientificpeer-review

Abstract

Compared to traditional financial services, cryptocurrencies lack any kind of institutional, monetary, or legal backing. Yet, the popularity of the cryptocurrencies remains intact despite several adversaries. In the context of lacking basic premises as a financial tool, these cryptocurrencies provide security and earn users’ trust via under-lying technologies. Despite the presence of a plethora of research in both trust and cryptocurrencies, there is a clear lack of research on what factors of the underlying technology drive trust. To uncover the factors contrib-uting to building trust, we analyzed 1.97 million discussion posts related to Bitcoin, the oldest and most widely used cryptocurrency. From the theory, we found out that functionality, reliability, and helpfulness are the con-structs to evaluate the trust in technology. Based on our analysis, we discovered 11 different factors related to three constructs of technology garnering users’ trust in Bitcoins. Our results highlight factors that require attention to developing new technologies that users can trust.
Original languageEnglish
Title of host publication32nd Bled eConference, Humanizing technology for a sustainable society, June 16-19, 2019, Bled, Slovenia, Conference proceedings
PublisherUniverza v Mariboru
Pages839-860
ISBN (Electronic)978-961-286-280-0
DOIs
Publication statusPublished - 19 Jun 2019
MoE publication typeA4 Article in a conference publication
EventBled eConference: Humanizing Technology for a Sustainable Society - Bled, Slovenia
Duration: 16 Jun 201919 Jun 2019

Conference

ConferenceBled eConference
CountrySlovenia
CityBled
Period16/06/201919/06/2019

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  • Cite this

    Marella, V., Upreti, B., & Merikivi, J. (2019). Understanding the creation of Trust in Cryptocurrencies: Bitcoin. In 32nd Bled eConference, Humanizing technology for a sustainable society, June 16-19, 2019, Bled, Slovenia, Conference proceedings (pp. 839-860). Univerza v Mariboru. https://doi.org/10.18690/978-961-286-280-0.44