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Factors Affecting Intention to use Cryptocurrencies with Special Reference to the University Students in Sri Lanka


Innovation in financial economics and other technological development has increased the demand for digital currencies. Crypto currency refers to tokens or digital currency based on cryptographic technology used to perform a range of financial transactions such as payments or store of value on the block chain technology. The main objective of this study is to apply the Extended Technology Acceptance Model to predict behavioral intention to use crypto currency. The number of users in crypto currencies across countries is continuing to grow. However, the number of users in crypto currencies in Sri Lanka is limited. Therefore, this study analyzed what are the factors that influence on intention to use crypto currencies in Sri Lanka. A survey instrument was used to collect quantitative data for predicting the use of crypto currency from the 125 postgraduate students of MSc/diploma in information technology in the University of Moratuwa. A Stratified sampling method was used to distribute questionnaires. Regression and correlation analysis through SPSS software was conducted to achieve the research objective. The findings indicate that Perceived Usefulness, Perceived Ease of Use, Perceived Trust and Awareness positively impact the Intention to Use Crypto currency. Overall, the results of the study showed that the model has a good model fit and can be used to explain the theory. There are limited researches done for Sri Lankan context for crypto currencies by applying Technology Acceptance Model into Fintech. In Addition to that this study useful for understanding human behavior related to the Fintech in emerging markets.

Keywords: Block chain Crypto currency, Fintech, Technology Acceptance Model