Mujahid Mohiuddin Babu, Tom Bason, Rocco Porreca, Pythagoras Petratos and Shahriar Akter 2024. Fostering trust and overcoming psychological resistance towards cryptocurrencies and cryptoassets. Psychology and Marketing. 41 (1), pp. 45-68. https://doi.org/10.1002/mar.21889
| Title | Fostering trust and overcoming psychological resistance towards cryptocurrencies and cryptoassets |
|---|---|
| Type | Journal article |
| Authors | Mujahid Mohiuddin Babu, Tom Bason, Rocco Porreca, Pythagoras Petratos and Shahriar Akter |
| Abstract | This research investigates the extent to which sponsorships can be utilised to foster trust and reduce barriers to adopting new technologies. Using Crypto.com's sponsorship of the 2022 FIFA World Cup as the context, this mixed-methods study utilises innovation resistance theory (IRT) and trust transfer theory (TTT) to investigate the extent to which such a sponsorship can increase trust and reduce barriers in innovative technologies such as cryptoassets, while also filling a research gap concerning consumer resistance to innovations in digital financial products and services. The findings of study 1, using a survey (n = 1081), and study 2 using interviews (n = 24) reveal that a positive image of sponsorship significantly influences favourability and interest, and trust of the product of the sponsor which subsequently reduces psychological barriers to adoption. Integrating the theoretical viewpoints of IRT and TTT, this study enhances our conceptual understanding regarding the psychological dimension of sponsorship and the extent to which a sponsorship generates interest, giving assurance and trust in the sponsor's product, and removing uncertainty; thus, reducing barriers to adoption. |
| Journal | Psychology and Marketing |
| Journal citation | 41 (1), pp. 45-68 |
| ISSN | 0742-6046 |
| 1520-6793 | |
| Year | 2024 |
| Publisher | Wiley |
| Publisher's version | License CC BY-NC-ND 4.0 File Access Level Open (open metadata and files) |
| Digital Object Identifier (DOI) | https://doi.org/10.1002/mar.21889 |
| Web address (URL) | http://dx.doi.org/10.1002/mar.21889 |
| Publication dates | |
| Published in print | Jan 2024 |
| Published online | 22 Aug 2023 |