Regulations and Behavioral Intention for Use Cryptocurrency in Thailand

Article DOI: https://doi.org/10.57017/jaes.v15.3(69).01

Author(s):

Jinnarat TAMPHAKDIPHANIT National Institute of Development Administration, International College, Bangkok, Thailand
Marisa LAOKULRACH National Institute of Development Administration, International College, Bangkok, Thailand

Abstract:

This paper identifies the development of cryptocurrency’s regulations and influences of people’s intentions to use cryptocurrency in Thailand. The analysis of behavioral intentions to use cryptocurrency is conducted applying the unified theory of acceptance and use of technology (UTAUT) model. The study used the questionnaire survey, and applied the multiple regression analysis to analyze the influences of Thai people to use cryptocurrencies. This research categorizes the purposes of cryptocurrency into three groups including: the first purpose is investment, as people buy cryptocurrency for wealth increasing; second, it is a means of payment for goods and services; and the third purpose is collecting points and redeeming rewards, as people are able to simply compare cryptocurrency to credit card points and redeem them for rewards. Regarding the findings, social influence is the most important factor that persuades people to use cryptocurrency. The other determinants in the UTAUT model that encourage people intention to use cryptocurrency are facilitating conditions, effort expectancy, and performance expectancy.

How to cite:

Tamphakdiphanit, J., Laokulrach, M. (2020). Regulations and Behavioral Intention for Use Cryptocurrency in Thailand. Journal of Applied Economic Sciences, Volume XV, Fall, 3(69), 523-531. https://doi.org/10.57017/jaes.v15.3(69).01

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*** Office of the National Economic and Social Development Board. 2017. The Twelfth National Economic and Social Development Plan (2017-2021). Bangkok.

*** The Securities and Exchange Commission, Thailand. (n.d.). Digital Assets. https://www.sec.or.th/ digitalas