Investigation of Knowledge, Attitude and Practices Towards Crypto Currencies Among Private Bank Leaders
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Date
2023-07
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Addis Ababa University
Abstract
The study was conducted to investigate the knowledge, attitude and practices of private bank leaders towards cryptocurrencies. To meet this purpose, a descriptive quantitative research design was applied. Three hundred forty four private bank leaders were selected using simple random sampling. The questionnaire data from the sample private bank leaders were entered and analyzed by SPSS for windows version 20. Descriptive statics analysis; frequency and percentage were used to describe the data. The findings revealed that many of the bank leaders were not familiar with cryptocurrency, latest technologies related to cryptocurrency and how it works. Majority of the bank leaders have negative attitudes about cryptocurrency which might be due to lack of awareness about it and how it works. Additionally, more than 80% of the respondent have never involved in cryptocurrency practically which will hinder the adoption of cryptocurrency in the banking industry. Another essential point the researcher deduced from the results of the study was that the major hindrance to adoption of cryptocurrency were found to be fear of losing money, lack of awareness, lack of access and negligence. Consequently, it is recommended that the private bank leaders should increase their and their staffs awareness about cryptocurrency and how it works through training because bank leaders are key players in financial sector and their awareness about cryptocurrency affects the decision and implementation of cryptocurrency related programs