The adoption of cryptocurrencies in tourism has been relatively slow despite the opportunities brought by this technology. Part of this can be explained by consumers' attitudes toward its acceptance. The research aims to analyze the determinants that influence attitudes and intentions to use cryptocurrencies as payment method for tourist services. We developed and tested an extended conceptual model based on the Technology Acceptance Model (TAM).
The proposed conceptual model was tested through the analysis of data collected through a survey conducted with cryptocurrency users. Two pre-tests of the survey instrument were conducted before the final data collection. The survey was carried out in all regions of Brazil, and 315 valid questionnaires were obtained. The data were analyzed using Structural Equation Modeling (SEM).
The intention to use cryptocurrencies to purchase tourist services was found to be affected by perceived security, perceived usefulness, social influence and attitude. Personal innovativeness and easiness play indirect roles in determining intentions. On the other hand, general political and legal interventions may discourage individuals from using cryptocurrencies. Users of this technology value disintermediation and decentralization; therefore, they may oppose regulations or alterations to the system's underlying structure.
Our work extends the TAM model, adding four new constructs, that is perceived security, regulatory support, personal innovativeness and social influence, to understand the behavior of cryptocurrency users regarding their monetary transactions in the travel context.
