BCAP-SA—Towards a Blockchain-Based Cryptocurrency Adoption Model as a Payment Method in Saudi Arabia

Online transactions have grown to gain significant attention from various stakeholders in governments, business, and research practitioners all over the world. A decade ago, the first cryptocurrency transaction was executed to pave the way for a new era of online transactions. However, there is a relatively low adoption of blockchain-based cryptocurrency transactions as a payment method by service providers, organizations, and customers. Further, there is no study investigating the adoption of cryptocurrency technology as a payment method in Saudi Arabia. Therefore, this research proposes a new adoption model to investigate the acceptance of a blockchain-based cryptocurrency as a payment method in Saudi Arabia (BCAP-SA). A thorough research of the literature has yielded only a few studies covering external factors over a range of technical, economic, personal, and environmental aspects in different parts of the world. Hypotheses have been developed for each factor which will be examined by both qualitative (interviews) and quantitative (surveys) methods. The proposed study aims to offer service providers with insights about which factors customers would concentrate on if they were to accept blockchain-based cryptocurrency as a payment method.