Systematic Literature Review on Crypto Currency Adoption and Ways to Look Beyond

Abstract

Cryptocurrency represents a recent and substantial breakthrough within the realm of finance. The objective is to provide a currency that is independent of government creation, control, or backing. Cryptocurrency employs blockchain technology as its foundational financial platform. The adoption of cryptocurrency has surged, leading to a substantial expansion in the market. The main goal of this study is to identify key contributors, central areas, current dynamics, and suggest potential directions for future research within this particular field. The systematic literature review (SLR) follows the guidelines set forth in the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol. In this paper, a methodological approach is utilized that combines a systematic literature review with bibliometric, network, and content analysis techniques. A set of 105 studies sourced from the Dimensions database is scrutinized to explore the research efforts related to this subject. By employing bibliometric methods, five separate research clusters have been identified, and a comprehensive content analysis has been performed on the papers affiliated with these clusters. The primary research focus in this domain centers on the investigation of factors affecting cryptocurrency adoption, the security concerns related to crypto usage, returns linked to cryptocurrency investments, environmental and legal considerations associated with cryptocurrency mining, and the diverse applications of cryptocurrency across various sectors.