The Decision to Adopt Blockchain Digital Currency for The Central Bank in UAE

Abstract

Purpose: This research aims to determine the influence of TAM in ascertaining the adoption of digital currency for the Central Bank in the UAE. The determination of the TAM role in currency usage will facilitate the online purchasing intention requires for smooth business operations in the GCC regions. Design/methodology/approach: This paper views the decision to adopt blockchain from the perspective of the Technology Acceptance Model (TAM) after duly considering other theories such as the Theory of Planned Behavior (TPB) and the Unified Theory of Acceptance and Use of Technology (UTAUT). The paper utilizes eight (8) hypotheses derived from TAM to analyze the motivation leading to the adoption of digital currency in the UAE. The hypotheses include Perceived Ease of Use (PEOU), Perceived Nominated Pressure (PNP), Perceived Usefulness (PU), Transactional Cost (TC), Facilitating Conditions (FC), Perceived Credibility (PC), Self-Presentation (SP) and Perceived Self-Efficacy (PSE). Originality/value: This is a methodology of determining the transactional behavior among online trading partners involving parties to an online payer, payee, receiver and giver involving parties to online transactions. The paper's significance lies in its ability to predicting human purchasing intent associated with the transactional motive regarding the choice of money to use as a medium of exchange. Findings: The hypothesized theory led to the sampling of 50 virtual currencies stake-holders in the UAE. The sample outcome reveals that all the hypotheses yielded positive influence over digital currency adoption by the central bank in the UAE.