Financial technology is undergoing rapid developments with the arrival of cryptocurrencies, the introduction of stablecoins, and more recently the discussion surrounding central bank digital currencies. The adoption of these technologies has received significant attention, but there has not yet been any research as to how the adoption factors for the three currencies differ, given their inherent similarities. This paper proposes to estimate the effect of trust and perceived risk on the adoption intention of the three aforementioned payment systems by creating three closely-matched questionnaires for each digital currency. This will enable us to estimate the effects of risk and trust in a way that makes it possible to compare the effect sizes for the different technologies, and can help evaluate whether a reduction of perceived market risk is sufficient for cryptocurrency adoption, and whether backing by the central bank may confer more benefits to adoption than the trustlessness touted for cryptocurrencies.
Hamm, Peter, "CRYPTOCURRENCIES, STABLECOINS AND CENTRAL BANK DIGITAL CURRENCIES: THE IMPACT OF TRUST AND PERCEIVED RISK" (2023). ECIS 2023 Research-in-Progress Papers. 40.