The Role of Cryptocurrencies in E-commerce: Adoption, Challenges, and Future Trends

This thesis explores the dynamic interplay between cryptocurrencies and e-commerce, focusing on the adoption challenges and future trends shaped by cultural, societal, and technological factors at an organizational level. In an era where digital transformations are redefining commerce, the integration of cryptocurrencies in e-commerce presents both unprecedented opportunities and significant hurdles. Through qualitative research, specifically structured expert interviews, this study delves into how cultural attitudes to- wards technology and money, trust in traditional financial systems, regulatory environ- ments, and technological advancements influence the acceptance and utilization of cryp- tocurrencies in online transactions. Findings reveal that societal trust, regulatory clarity, and the technological landscape are pivotal in determining the trajectory of cryptocurrency adoption in e-commerce. Cultural predispositions towards risk and technology significantly impact the willingness to em- brace cryptocurrencies, with generational differences marking distinct attitudes towards digital financial innovations. The research underscores the critical role of regulatory frameworks in fostering a conducive environment for cryptocurrency integration into e- commerce, addressing concerns around security, volatility, and legal compliance. The analysis further identifies business strategies and technological advancements, such as educational initiatives and user-friendly payment solutions as essential drivers for broadening the acceptance of cryptocurrencies in online commerce. The study also projects future trends, suggesting a gradual normalization of cryptocurrencies as a main- stream payment method in e-commerce, contingent upon overcoming current challenges through regulatory advancements, financial literacy, and sustainable technological inno- vations. This thesis contributes to the academic discourse on digital finance and e-commerce by providing a comprehensive overview of the factors influencing cryptocurrency adoption and offering insights into the potential pathways for integrating these digital currencies into the e-commerce ecosystem. The findings have implications for policymakers, busi- nesses, and researchers aiming to navigate the evolving landscape of digital currencies in online marketplaces.