Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 30690
Thai Perception on Bitcoin Value

Authors: Suwaree Yordchim, Toby Gibbs

Abstract:

This research analyzes factors affecting the success of Bitcoin Value within Thailand and develops a guideline for self-reliance for effective business implementation. Samples in this study included 121 people through surveys. The results revealed four main factors affecting the success as follows: 1) A great majority didn't know what Bitcoin was. 2) Didn't grasp the concept of a digital currency or see the benefit of a digital currency. 3) There is a great need to educate the next generation of learners on the benefits of Bitcoin within the community. 4) Future Career training should be pursued in applied Bitcoin development.

The guideline for self-reliance planning consisted of 4 aspects: 1) Local communities need to develop awareness of the usefulness of Bitcoin and share the value of Bitcoin among friends and family. 2) Computer Science and Business Management staff should develop skills to expand on the benefits of Bitcoin within their departments. 3) Further research should be pursued on how Bitcoin Value can improve business and tourism within Thailand. Local communities should focus on developing Bitcoin awareness by encouraging street vendors to accept Bitcoin as another form of payment for services rendered. 4) Development planning: by arranging meet up groups to conduct further education on Bitcoin and share solutions on adoption into every day usage.

Keywords: bitcoin, Cryptocurrency, decentralized

Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1094401

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2171

References:


[1] L. Kristoufek, "Bitcoin meets Google Trends and Wikipedia: Quantifying the relationship between phenomena of the Internet era” Scientific Reports Volume:3 Article Number: 3415 Published: Dec 4 2013.
[2] H. Hodson, "Bitcoin moves beyond money”. New Scientist Volume: 220 Issue 2945 Special Issue: SI Pages:24-24, Published: Nov 30 2013.
[3] T. Simonite, "Rise of the Bitcoin Millionaires.” Technology Review, Volume: 116, Issue: 5, page 20-+ Published: Sep-Oct 2013.
[4] C. J. J. Aron, "I Believe in Honest Money: Gold, Silver,and Bitcoin." New Scientist Vol: 219, Issue 2925 Pages: 24, 2013.
[5] M.E.Peck, "The Bitcoin Arms Race is on!" IEEE Spectrum Volume: 50, Issue: 6, Pages: 11-13, Published: June, 2013.
[6] B. Maurer, Nelms, Taylor C.; Swartz, "When Perhaps the real problem is money itself!” Social Semiotics, Volume: 23, Issue: 2, Special Issue: SI, pages 261-277, Published: 2013.
[7] M.J. Barratt, Lenton, Simon; M.Allen, "Internet content regulation, public drug websites and the growth in hidden internet services." Drugs-Education Prevention and Policy, Volume: 20, Issue: 3, Pages: 195-202, Published: 2013.
[8] N. Dodd, "Simmel's Perfect Money: Fiction,Socialism and Utopia in The Philosopy of Money.” Theory Culture & Society, Volume: 29, Issue: 7—8, Pages: 146- 176. 2012
[9] J. Aron, Jacob. "Bitcoin rises again.” New Scientist, Volume: 2847, Pages 20-20, Published: January 14, 2012.
[10] Jump up "Crypto-Currency Market Capitalizations". coinmarketcap.com. Retrieved 2014-01-19.
[11] Jump up^ "LTC/USD alltime - Litecoin / US Dollar chart from BTC-e". cryptocoincharts.info. Retrieved 2013-12-16.
[12] (2011-10-09). "ANN Litecoin - a lite version of Bitcoin. Launched!". Post on Bitcointalk.org internet forum. Retrieved 2014-05-03.