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The Genesis of the Crypto-economy: Application of the Institutional Theory

Year: 2024

Type: article

Abstract: This study investigates the institutionalization of the crypto-economy from an institutional theory perspective and also examines the role of existing institutional pillars in its development. The path analysis using global institutional indicators reveals that the development of the crypto-economy is significantly affected by regulatory, cognitive, and normative factors of a country. Further, the regulative pillar fully mediates the relationship between the social pillar and the crypto-economy. While we find convincing evidence that a country’s social pillar endorses crypto-economy, its indirect effect is more prominent and significant than the direct effect.

Source: Vikalpa The Journal for Decision Makers

DOI: 10.1177/02560909241271742

Authors: Shashi Kant Srivastava, Verma Deepika Chandra, Srinivas Jangirala, Janardan Krishna Yadav

Institutions: Indian Institute of Management Calcutta, O. P. Jindal Global University

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

SDGs: Peace, justice, and strong institutions, Industry, innovation and infrastructure, Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W4402393002

FWCI: 0.38

Cites: 58

Cited by: 1

Related to: 10