The purpose of this study is to determine the factors affecting the adoption of the use of Bitcoin by members of Iraqi society.
The deductive approach was used based on the technology acceptance model (TAM). The data were collected by an electronic questionnaire that was prepared based on several previous studies, obtaining 527 responses. Structural equation modeling was used by SmartPLS software to analyze the data and test the hypotheses.
This study reached a set of results, the most important of which was that each of the compatibility, security and perceived trust affects the contracts of the TAM (behavioral intention, perceived ease of use, perceived usefulness) except the effect of security on behavioral intention.
This study focused on identifying the opinions of the respondents from the general community and was not limited to a specific segment. On the other hand, despite identifying the demographic characteristics of the respondents, this study did not test the impact of these characteristics on the intention to use digital currency.
This study is expected to help financial institutions in general to understand the future behavior of community members toward dealing with Bitcoin and to make decisions regarding how to direct the financial policy in the country; in addition, it will also contribute to educating the citizens of countries about the risks related to this currency.
The survey of previous studies revealed a significant decrease in this study of the behavior of individuals in Arab societies in general toward dealing with Bitcoin and in Iraq in particular, forming a spatial gap. The results of this study are expected to help improve community members’ dealings with digital currency based on their perceptions of trust, security and compatibility. This study will also contribute to assisting financial and monetary policymakers when dealing with this currency.
