Utilization of the Digital Cryptocurrency Model Bitcoin as a Payment System for the Development of Micro, Small and Medium Enterprises (MSMEs)

Authors

  • Ria Manurung, David Kristian Paath

Abstract

Cryptocurrency payment system with Bitcoin is an important factor in realizing a smart economy in Banyumas Regency because Cryptocurrency process does not depend on third parties, transactions can be carried out easily and without fees, safe and open source. Growth and development of Cryptocurrency as a virtual currency is very significant along with technological advances. Cryptocurrency as a virtual currency has had a positive and possibly negative impact on user community, both big, middle-class business actors and MSME players. Problem in this study is whether digital Cryptocurrency model of bitcoin as a payment system can be used to develop MSME. Research objective was to analyze benefits of digital cryptocurrency with bitcoin model to be used as an integrated payment model for developing MSME (Micro, Small and Medium Enterprises). This study used a qualitative analysis method in form of questions used to obtain in-depth data analysis to prove relationship between independent variable and dependent variable. Nature of research is correlational which examines extent of relationship between two or more variables. Primary data were collected through questionnaires and interviews with respondents using non-probability sampling techniques as many as 250 respondents consisting of MSME business players and public as customers in Banyumas Regency. Conclusion from results of analysis for this research is that variables of Usefulness, Reliability, Functionality, and Efficiency partially have a significant effect on use of digital cryptocurrency technology, bitcoin model as a payment system for MSME development.

Published

2020-12-01

Issue

Section

Articles