Journal of Legal, Ethical and Regulatory Issues (Print ISSN: 1544-0036; Online ISSN: 1544-0044)


Degree of Trustiness and Awareness of Cryptocurrency: Factors Affecting the Future Currency in the Gulf Cooperation Council (GCC)

Author(s): Abdelrhman Meero, Saad Darwish and Abdul Aziz Abdul Rahman

This research focuses on the future of cryptocurrency in GCC countries. Using an organized survey, this paper tries to discover the GCC population awareness of cryptocurrency and their degree of trustiness in this currency. The Likert scale questionnaire had a section related to the willingness of the GCC people to use cryptocurrency in their daily life and investment. Another section in the survey has been oriented to evaluate the importance of the fluctuation of cryptocurrency from the respondents' point of view. The analysis of the 212 responses has demonstrated that the awareness of cryptocurrency in the GCC region is at an average level, and the people have some doubts about the stability of cryptocurrency. They also have a low level of trustiness in this innovation. Regarding the willingness to use cryptocurrency, the results revealed an inconclusive decision towards the willingness to use cryptocurrency as the highest percentage of answers were concentrated in the midpoint answer (3) and on the close sides of the average answer (2 and 4).

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