Transformations  in
Business & Economics

PERCEPTION OF USER INTERESTS FOR THE DEVELOPMENT OF BITCOIN, THE NEW PAYMENT TECHNOLOGY IN THE SEE COUNTRIES
Vinko Nikic

ABSTRACT. The subject of this paper is to examine the perception of customer satisfaction with bitcoin currency in South-Eastern Europe countries. The aim of this study is to identify the preferences of the people using bitcoin as the most famous and valuable cryptocurrency. This paper has particularly investigated the most important factors in choosing bitcoin. In addition to the survey, the least-squares criterion in the model of multiple linear regression was applied to determine the relationship between dependent variable and independent variable. Descriptive statistics and correlation analysis were also used. It starts with the basic hypothesis that surveyed respondents would show a positive perception for using bitcoin currency in order to get much better satisfaction than by using traditional payment methods, given the very high costs of banking services in the observed countries due to a greater degree of security and privacy of payment transactions. Also, an auxiliary hypothesis has been defined, which reads as follows: the establishment and faster expansion of bitcoin payments depend on the establishment of institutional infrastructure. The research conducted in the South-Eastern Europe countries showed a high correlation between defined dependent variable and independent variable, i.e. a high degree of perception of meeting the needs and expectations of future users by considered bitcoin currency payment technology.

KEYWORDS:  bitcoin, cryptocurrencies, e-money.

JEL classification:  E4, E5, L2, L5.