Identifying the Facilitating Factors for Web-based Trading: A Case Study of Blockchain & Cryptocurrency


  • Sang Hoon Lee School of Computer and Information Engineering, Daegu University, Republic of Korea
  • Hyun-Seok Hwang Dept. of Business Administration, Hallym University, Republic of Korea
  • Su-Yeon Kim School of Computer and Information Engineering, Daegu University, Republic of Korea



Web Trading, Blockchain, Crytocurrency, Technology Acceptance


Blockchain, which is spotlighted as one of the core technologies in the Web 3.0 era, is being used as a tool for high security and decentralization. In addition, blockchain has been positioned as a core technology for services such as cryptocurrency, NFT, De-Fi, and metaverse, and has already provided high-quality services. In particular, cryptocurrency has shown rapid growth and has been receiving worldwide attention. Cryptocurrency is a web technology and has the property that it can be an investment target, and it is expected to develop further in the future. In this research, we analyzed factors influencing the intention to use cryptocurrency and structural causalities among the factors. We considered personal characteristics, characteristics of cryptocurrency itself, and social characteristic, and a research model has been established for an empirical study. In addition, a multi-group analysis was performed to identify differences between users and non-users. As a result of the analysis, it was found that some of the personal characteristics and cryptocurrency characteristics affect the intention to use. And in the case of non-users, it was found that not only personal and cryptocurrency characteristics, but also social characteristic influence their intention to use. The results of this research are expected to provide implications for cryptocurrency service providers and users, as well as institutions that establish related policies.


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Author Biographies

Sang Hoon Lee, School of Computer and Information Engineering, Daegu University, Republic of Korea

Sang Hoon Lee received his Bachelor of Information Engineering from Daegu University in 2013, Master of Computer and Information Engineering from Daegu University in 2015, and PhD in Information Engineering from Daegu University in 2018. He is currently a researcher and lecturer in the School of Computer and Information Engineering, Daegu University, Republic of Korea. His main research fields are recommendation systems, intellectual property rights and smart systems. Recently, he is working as an advisor to several projects in the blockchain and NFT fields.

Hyun-Seok Hwang, Dept. of Business Administration, Hallym University, Republic of Korea

Hyun-Seok Hwang is a Professor of Business Administration and a research fellow of Hallym Business Research Institute at Hallym University, Chuncheon, Republic of Korea. He received his PhD, Master, Bachelor in Industrial and Management Engineering from the Pohang University of Science and Technology (POSTECH), South Korea. His research interests cover Fintech, Big Data Analytics, and Digital Contents. He is also a director of fintech start-up and a deliberation committee member of the government’s information institution.

Su-Yeon Kim, School of Computer and Information Engineering, Daegu University, Republic of Korea

Su-Yeon Kim received her Bachelor of Science in Mathematics from Pohang University of Science and Technology (POSTECH) in 1991, her Master of Science in Information Industry from Soongsil University in 1997, and her PhD in Industrial Engineering from POSTECH in 2003. She has worked for many years in IT consulting, including information strategy planning and data modeling for financial institutions, and is currently a professor in the Department of Computer and Information Engineering, Daegu University, Republic of Korea. Her research interests includes technology management, recommendation systems, and intellectual property management. She works as an informatization advisor for a local government in Korea, and recently founded a technology-based startup and serves as the CEO.


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How to Cite

Lee, S. H. ., Hwang, H.-S. ., & Kim, S.-Y. . (2022). Identifying the Facilitating Factors for Web-based Trading: A Case Study of Blockchain & Cryptocurrency. Journal of Web Engineering, 21(06), 1767–1792.