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EXPERTS’ PERCEPTION ON CRYPTOCURRENCY TRADE IN BANGLADESH: FINTECH INNOVATION OR DILEMMA

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Abstract

Cryptocurrency, operated through blockchain technology, is a new form of digital currency which is used as a medium of exchange. It is used in many countries but Bangladesh Bank, the central bank of Bangladesh, halts a ban on its use and/or trading considering its negative aspects. So, the perception towards virtual currency in Bangladesh remains under shadow. Hence, the study investigates the perception of a total 155 persons (having sound knowledge in this new technology e.g., central bankers, bankers and finance and accounting graduates) behind the intended use of cryptocurrency using structural equation modelling. The study has four observed variables (perceived ease of use, perceived usefulness, trust and perceived risk) and one latent variable (behavioral intention to use cryptocurrency). Finally, the result demonstrates that perceived usefulness and trust have a significant impact, but perceived ease of use and perceived risk have no significant impact on the intention to use cryptocurrency. The paper enlightens the unexplored perception of the people of Bangladesh towards cryptocurrency. The findings recommend that the Bangladesh Bank may reconsider its decision regarding fintech innovation considering cryptocurrency’s positivity and minimize the dilemma keeping the deleterious sides under strict monitoring. Keywords: Bangladesh Bank, Block chain, Cryptocurrency, Perceived Ease of Use, Perceived Usefulness JEL Classification: C51, C59, D40, G12
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