Posted: April 15th, 2022

Unified Theory of Acceptance and Use of Technology

Title: Unified Theory of Acceptance and Use of Technology

The unified theory of acceptance describes individual technology acceptance and decision making in an organization. The approach is among the old arguments that explain the use of information technology as well as technology adoption in an organization. Organizations use technology to get the expected results according to the set goals and objectives — for instance, job delivery and performance as well as productivity of employees. Various factors are used in determining technology use; for example, employees performance, efforts expectancy, social influences as well as facilitating conditions.
Several trends in information technology have emerged, including Cryptocurrency or the blockchain. Cryptocurrency is a mode of transaction used in technology, as well as the encrypted methods to monitor the creation of monetary. ( Wahl, 2016). The UTAUT theory explains both positive and negative acceptances by both people and organizations on performance expectancy, efforts, social norms as well as the facilitating conditions. Performance expectancy is the degree to which Cryptocurrency enhances or affects performance in an organization. Return outlook influences behavioral motives to use Cryptocurrency positively.
In the next nine years, cryptocurrencies and blockchain will contribute to 10% of GDP with an extensive growth rate annually. Most organizations, especially the public sector, have invested in digital currency, for instance, the bitcoins where the sale of bitcoins produces an enormous amount of money, which aids in the growth of an organization.( Wahl, 2016). Cryptocurrencies are used as an internal source of payment by organizations as well as the right to the asset.
Effort expectancy is the degree of ease that is associated with the use of Cryptocurrency or rather the intention of use. Effort expectancy revolves around the behavior of an organization to acquire plastic money. Acceptance of financial technology, especially the use of mobile banking as well as microfinance, especially in transaction services. ( Maruping, et al.,2017). According to the research, effort expectancy does not necessarily facilitate the motive to use cryptocurrencies but affects the actual use of the technology.
Crowdfunding is one of the methods used to ease the use of crypto-currency in an organization. Investing in bitcoin requires a considerable amount of money where the profits are enormous as well as tax-free and not monitored by the government. Organizations apply efforts to use the technology considering the huge outcome a well as prioritizing Cryptocurrency as a mode of investing.
Organizations are perceiving crypto-currency as easy to use the positive social influence towards the use of cryptocurrencies. Effort performance is influenced by the social factors behind the use of cryptocurrencies. Some of the social factors are the history behind the use of cryptocurrencies. (Dospinescu, and Caramangiu, 2018). The technology provides an opportunity for organizations to move across countries for launching their businesses.
Cryptocurrency history has been reduced, especially having an on and off maket as well as challenges in government viewing it as an illegal business due to tax evasion. Regardless of the unfortunate history, cryptocurrencies or blockchains have posed a significant impact on the growth of organizations. Trust issues in Cryptocurrency, as well as blockchain learning , is viewed leisurely but require learning resources and patience. The factors have affected the use of cryptocurrencies but positively.
Facilitating condition is the degree in which an organization believes in itself by having the required technical infrastructure in using Cryptocurrency. ( Nair, Ali, and Leong, 2015). Some of facilitating conditions include the payment technology enabling payers and payee to pay directly without involving the third party as well as technology in identifying the validity of payments by use of cryptography technology. Facilitating conditions play a significant role in organizations’ involvement in cryptocurrencies. The vast increase in technological innovations has led to investments in blockchains with the help of information technology as well as IT experts.
The unified theory of acceptance and use of technology explains how various techniques are accepted in multiple organizations. Acceptance, ad use of technology take into consideration the four key factors. The factors include performance expectancy, effort expectancy, social influence, as well as facilitating conditions. Performance expectancy is the principal motive towards the use of Cryptocurrency, where positive future results in organizations’ performance are expected.
Organizations investing in Cryptocurrency leads to growth and mass production. Efforts and social influences are decisive when it comes to cryptocurrencies. Though learning to use blockchains require the company’s efforts in purchasing learning resources for efficiency. Cryptocurrencies have had positive feedback from the social community apart from the resources and finances required in investment. Facilitating conditions in Cryptocurrency include technological infrastructure. For instance, computer systems as well as IT professions in learning and management of threats, especially when carrying out digital practices. A unified theory of acceptance is essential in identifying what technologies to choose in an organization, especially with the emerging technologies, according to the Key factors in unified theory.

References
Dospinescu, O., & Caramangiu, M. E. (2018). The Key Success Factors for an M-Learning Cryptocurrency Application. Informatica Economica, 22(2).
Maruping, L. M., Bala, H., Venkatesh, V., & Brown, S. A. (2017). Going beyond intention: Integrating behavioral expectation into the unified theory of acceptance and use of technology. Journal of the Association for Information Science and Technology, 68(3), 623-637.
Nair, P. K., Ali, F., & Leong, L. C. (2015). Factors affecting acceptance & use of ReWIND: Validating the extended unified theory of acceptance and use of technology. Interactive Technology and Smart Education, 12(3), 183-201.
Wahl, F. (2016). Adoption of Blockchains–A Cross-Cultural Comparison. Unpublished master’s thesis, Universität Kassel). Retrieved from https://www. uni-Kassel. de/fb07/fileadmin/data/fb07/5-Institute/IBWL/Wagner/Adoption_of_ Blockchains_-_Expos% C3% A9_Final. Pdf

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