Adoption of central bank digital currency: an empirical investigation of trialability efficacy on Digital Yuan
Year: 2025
Type: article
Study design: Observational Study
Abstract: Purpose This study investigates the factors influencing the trialability and behavioral intentions toward Digital Yuan, also known as e-CNY, which is the first central bank digital currency (CBDC) in China. The present research also examines the mediating effect of attitude and the moderating effects of perceived trust and self-efficacy in the model. Design/methodology/approach This paper is embedded in the diffusion of innovation (DOI) theory, which was again supplemented by the UTAUT2 and the theory of planned behavior (TPB). We collected data using a self-administered structured questionnaire and examined 289 valid samples using a structural equation model. Findings The results indicate that compatibility, observability and effort expectancy significantly influence trialability, which in turn significantly impacts the attitudes of e-CNY users. Together, price value and attitudes considerably impact behavioral intentions toward e-CNY. In addition, attitudes significantly mediate between trialability and behavioral intentions and the relationship between attitude and behavioral intention is moderated by perceived trust. Practical implications This study will help FinTech regulators and practitioners broaden their knowledge base around CBDCs, subsequently assisting them in crafting precise strategies for fostering e-CNY acceptance. Originality/value The uniqueness of this study lies in its simultaneous examination of the factors affecting trialability, attitude and behavioral intention about CBDCs.
Authors: Ruhul Amin, Md. Alamgir Hossain, Md. Shakhawat Hossain, Yuntao Fang
Language: English
Subfield: Information Systems and Management
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4409676476