A case study on the perception of crypto currency for countries without national currency

The study aimed to evaluate and determine the extent of the impact of cryptocurrencies and the nature of their relationships with the perception of money through the finance and banking sector, and consequently the perception of cryptocurrencies in countries without a national currency. The perception of cryptocurrencies in these countries seeks to analyze and diagnose the perception in payments, as well as correct any misconceptions if present. The analytical descriptive approach was adopted in measuring the perception of cryptocurrency use in the study sample (2011-2020). A two-model survey was used as the evaluation tool. The first model is for the banking sector and has been answered by a group of executives and employees from the largest banks in El Salvador. The second model is for the finance sector, including a group of companies and individuals dealing with cryptocurrencies. The distribution of answers to the questions in the analysis of survey responses was found to be sufficient. It was concluded that there is a similarity in the crypto evolution between El Salvador and other countries without a national currency. A descriptively significant impact relationship was found between the adoption of cryptocurrencies and the crypto perception of El Salvador's banking and finance sector. Therefore, the adoption of cryptocurrencies has a significant effect on alleviating the negativity associated with general monetary habits in El Salvador and countries without a national currency. One of the recommendations is that it would be meaningful for relevant authorities in countries without a national currency to encourage the progression of cryptocurrency trading towards implementation. The development of necessary legal and regulatory frameworks governing and regulating cryptocurrency and e-commerce transactions is of great importance. The necessity of developing and promoting the comprehensive use of new technologies is evident.