The acceptance of payment methods through blockchain technology and cryptocurrency: The effect of brand equity

Cryptocurrency and its emerging technologies represent potential developments that could change the financial sector. Cryptocurrencies have established an asset that can change the traditional mechanisms of the global economy. However, this technology is new, its adoption by consumers has been relatively slow. Looking at the literature, there are gaps regarding the adoption of this technology. In this study, the role of brand equity on the intention to use cryptocurrency and blockchain technologies as payment methods will be examined. Technology acceptance model (TAM) was used to measure the relationship between cryptocurrency as a payment method and the intention to use. The study was conducted in Türkiye, where people from different backgrounds joined voluntarily. The survey was distributed online using social media channels. The language of the survey is Turkish, and all scales have been used in previous studies. The findings have found that brand equity positively affects the intention to use cryptocurrencies and blockchain technologies. Additionally, it was found that attitude was the strongest in the relationship between brand equity. Subsequently, it was also found that perceived usefulness affected attitude the most. Ultimately, all hypotheses were supported. The study made a new contribution to the literature by showing that brand equity plays an effective role in the adoption of cryptocurrency. Thus, considering that brand equity can play a role when considering adoption strategies and approaches regarding cryptocurrencies and blockchain technology, therefore this research will open the doors for new research and new strategies for both decision makers and researchers. Keywords: Cryptocurrency; Blockchain; Technology Acceptance Model; Brand Equity; Globalization.