During the last decade, cryptocurrency and blockchain technology has grown in popularity as a viable alternative to conventional financial institutions and centralized markets. In 2021, the crypto industry's total market capitalization increased by nearly 10000 percent since its creation, reaching a total market capitalization at around 2 trillion, and culminating in all-time high record peaks that stunned the entire financial world. The study of this current subject was conducted in order to determine the key factors that contributed to the sudden increase in the use of this emerging technology, which is still perceived to be in its infancy at least. Since the study is targeted for only in Colombian citizens, a general analysis of prior research on technological disruption of the relationship between global investors and technology acceptance was conducted to ensure an effective overview of this phenomena. Furthermore, a variety of technological adoption models were analyzed in order to determine the most suitable one for this study. The Unified Theory of Acceptance and Use of Technology (UTAUT) was explicitly adapted for the purposes of this thesis, since it was found to be the most important and productive model for evaluating cryptocurrency adoption among Colombian citizens. The study approach explores people's technology interaction habits, which are then re-tested by a survey. Over the course of 4 days, were gathered 106 responses from crypto users and non-users using an online survey plus 154 using an snowball data gathering method for a total of 260. Furthermore, ten Colombians users who own cryptocurrencies were approached, and open-ended interviews were performed again using the modified UTAUT model, which aimed to reach a better understanding of the driving factors behind technological acceptance. Finally, additional methods are suggested as the blockchain technology grows gaining great levels of mainstream acceptance as the time passes. The final motivation of this research is to provide a scientific analysis in order to help regulators in Colombia to assess the projected forthcoming Crypto-Technology revolution
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:lnu-111265 |
| Date | January 2022 |
| Creators | Cabanzo Cadena, Jose Camilo |
| Publisher | Linnéuniversitetet, Institutionen för informatik (IK) |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
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