You can't hold the tide with a broom : cryptocurrency payments and tourism in South Korea and China

Abstract

Cryptocurrencies are modifying the very nature of how travelers use and manage payment systems. Bearing in mind that cryptocurrencies in tourism and hospitality are solving the issue of isolation of money and liquidity, this study explored travelers' adoption of cryptocurrency payments in the South Korea and China context. The originality of the present study lies on introducing risk, security, and attitude variables into the Technology Acceptance Model (TAM) and the Unified Theory of Acceptance and Use of Technology (UTAUT) model. We found that perceived usefulness, perceived ease of use and security are antecedents of attitude, while attitude, performance expectancy, effort expectancy, social influence and facilitating conditions have significant effect on intention to use cryptocurrency payments in tourism. We also outline the significant moderating effect of age and gender on travelers' adoption of cryptocurrency payments. This study can help policy makers to understand the utility of cryptocurrency payments in tourism.