Table 4 Thematic matrix Themes... | Emerald Publishing

Table 4

Thematic matrix

Themes	Sub-themes and codes
Theme 1: technological factors	Safety and Security Protocols: KYC protocols, Cyberattacks, Personal ID information, Security verifications, Data breaches, Fraud, Infrastructure upgrades, Bank accounts
	Digital Technology Infrastructure: Digital services, Technology improvements, Foreign payment system, Monitoring system, Scrutiny, Money withdrawals, Nostro accounts, JazzCash and EasyPaisa, Compliance risks
	System Integration: Financial apps, Payment gateways, Digital wallets, Manual recordkeeping, Ongoing maintenance, ATMs, Peer-to-peer transactions, Trust, Letter of Credit
Theme 2: organizational factors	Access to Digital Transformation Assets: Financial and Human assets, Educational resources, Bitcoin and Ethereum, Blockchain developers, Cybersecurity experts, Freelancers, Outsourcing
	Organizational Frameworks: Size, Structure, Hierarchy, Centralized and Decentralized hierarchy, IT department, Traditional systems, System malfunctions
	Culture of Innovation: Traditional beliefs, Simple ledgers, Benefits to other entities, Cash dealings, Salaries, Research developments
Theme 3: environmental factors	Digital Regulatory Frameworks: Complex regulatory environment, Government policies and backing, Crypto mining, Natural resources, Foreign investment, Hydropower
	Roles of National and Local Government Institutions: Government bodies, Ministry of Finance, State Bank of Pakistan, Financial power and monopoly, Nostro accounts, Anti-money laundering, Formal processes, Compliance
	Industry Transition: Digital payment methods, Artificial money, Digital currency risk, Strict exchange controls, High volatility, Rapid fluctuations, Risky transition, Cryptocurrency exchange companies, Global transactions
	Cultural and Religious Beliefs: Cultural values and religious principles, Shariah law, Haram (forbidden), Religious scholars’ fatwas, Cultural interpretations, Misunderstanding of usage, Gambling and prohibition
	Social Stigma and Traditions: Consumer awareness, Traditional barriers, Social beliefs, Preference for cash, Familiarity with cash transactions, ATM machine knowledge
Theme 4: innovation Characteristics of entrepreneurs (extended factors)	Entrepreneurs’ Digital Literacy: Social media resources (YouTube), Cryptocurrency wallets, Digital literacy in young employees, Fintech technology, EasyPaisa and JazzCash literacy
	Entreprenuers’ Strategic Networking and Collaboration: Business growth, Knowledge sharing, IT and Fintech opportunities, IT events and conferences, Blockchain access, Blockchain consortiums
	Adaptability and Flexibility: Volatility and risk, Financial efficiency, Reduce transaction costs, Risk management, Misconceptions, Traditional mindset, Risk-free transactions (e.g. bank drafts and cash)
	Senior Management (older employees) Education and Training: Risk aversion, Outdated education, Lack of understanding, Resistance to change, Fear of job loss, Time-consuming, System integration, Training and support, Reliance on young IT staff

Themes	Sub-themes and codes
Theme 1: technological factors	Safety and Security Protocols: KYC protocols, Cyberattacks, Personal ID information, Security verifications, Data breaches, Fraud, Infrastructure upgrades, Bank accounts
	Digital Technology Infrastructure: Digital services, Technology improvements, Foreign payment system, Monitoring system, Scrutiny, Money withdrawals, Nostro accounts, JazzCash and EasyPaisa, Compliance risks
	System Integration: Financial apps, Payment gateways, Digital wallets, Manual recordkeeping, Ongoing maintenance, ATMs, Peer-to-peer transactions, Trust, Letter of Credit
Theme 2: organizational factors	Access to Digital Transformation Assets: Financial and Human assets, Educational resources, Bitcoin and Ethereum, Blockchain developers, Cybersecurity experts, Freelancers, Outsourcing
	Organizational Frameworks: Size, Structure, Hierarchy, Centralized and Decentralized hierarchy, IT department, Traditional systems, System malfunctions
	Culture of Innovation: Traditional beliefs, Simple ledgers, Benefits to other entities, Cash dealings, Salaries, Research developments
Theme 3: environmental factors	Digital Regulatory Frameworks: Complex regulatory environment, Government policies and backing, Crypto mining, Natural resources, Foreign investment, Hydropower
	Roles of National and Local Government Institutions: Government bodies, Ministry of Finance, State Bank of Pakistan, Financial power and monopoly, Nostro accounts, Anti-money laundering, Formal processes, Compliance
	Industry Transition: Digital payment methods, Artificial money, Digital currency risk, Strict exchange controls, High volatility, Rapid fluctuations, Risky transition, Cryptocurrency exchange companies, Global transactions
	Cultural and Religious Beliefs: Cultural values and religious principles, Shariah law, Haram (forbidden), Religious scholars’ fatwas, Cultural interpretations, Misunderstanding of usage, Gambling and prohibition
	Social Stigma and Traditions: Consumer awareness, Traditional barriers, Social beliefs, Preference for cash, Familiarity with cash transactions, ATM machine knowledge
Theme 4: innovation Characteristics of entrepreneurs (extended factors)	Entrepreneurs’ Digital Literacy: Social media resources (YouTube), Cryptocurrency wallets, Digital literacy in young employees, Fintech technology, EasyPaisa and JazzCash literacy
	Entreprenuers’ Strategic Networking and Collaboration: Business growth, Knowledge sharing, IT and Fintech opportunities, IT events and conferences, Blockchain access, Blockchain consortiums
	Adaptability and Flexibility: Volatility and risk, Financial efficiency, Reduce transaction costs, Risk management, Misconceptions, Traditional mindset, Risk-free transactions (e.g. bank drafts and cash)
	Senior Management (older employees) Education and Training: Risk aversion, Outdated education, Lack of understanding, Resistance to change, Fear of job loss, Time-consuming, System integration, Training and support, Reliance on young IT staff

Source(s): Authors’ own creation