• Journal of Distribution Science
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• v.16 no.12
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• pp.47-56
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• 2018

Purpose - The potential use of cryptocurrencies in a retail environment proposes a rapid shift from the traditional financial system. Nakamoto(2008) defines Bitcoin as an open source alt-coin based on the blockchain technology. Luther(2016) insists that the new technology will be widely adopted for the digital payment processes. However, the use of Bitcoin is in the real world is still sparse. Despite the growing attention and purported benefits, it is doubtful whether the Bitcoin will be eagerly accepted by ordinary consumers in the mainstream market. To answer this question, this paper develops a causal model that has a dual path to explain the motivation to adopt Bitcoin. According to Glaser, Zimmermann, Haferkorn, Weber, and Siering(2014), Bitcoin is both an asset and a currency at the same time. In summary, the attitude towards Bitcoin may vary depending on whether the fin-tech product is viewed as an asset or as a currency. Based on the arguments, we propose that asset attitude and currency attitude will give influence to consumers' intention to adopt Bitcoin. Research design, data, and methodology - Quantitative data collection is conducted from a Bitcoin SIG(special interest group) working in an internet community. As a result, 192 respondents who know Bitcoin completed the survey. To analyze the causal relations in the research model, PLS-SEM(partial least squares structural equation modeling) method is used. Also, reliability and validity of measures are tested by performing Cronbach's alpha test, Fornell-Larcker test and confirmatory factor test. Results - Our test results show that every hypothesis is supported except the influence of perceived ease of use. In addition, we find that the relationships between constructs are different between the high innovative group and low innovative group. Conclusions - We provide evidence that asset attitude and currency attitude are key antecedents of Bitcoin adoption.

• Journal of Digital Convergence
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• v.15 no.12
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• pp.111-126
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• 2017

Korea came to see its first internet bank as 'K bank' obtained the digital-only banking license in December 2016. This paper suggests ways to foster internet banks of Korea in their early stage by analyzing the successful cases of overseas internet banks. The followings are the key success factors identified from those cases across Europe, Japan, China, and USA: Support from the related government authorities; Stable governance structure; Distinct business capabilities based on information & communications technology(ICT). These points lead to the following implications for Korean internet banks. Regulatory restrictions on owning and running internet banks should be lifted to facilitate innovation. Policies to support internet bank industry should be introduced as it is a vital part of the 4th industrial revolution. Finally, internet banks should strive to differentiate themselves by utilizing their ICT capabilities. Subjects of the further research hereafter should include the following: Analyzing the ongoing performance and developments of digital banks in Korea; Deriving success factors from the analysis; Assessing the influence and effects on financial market and economic environment.

• Journal of the Korea Institute of Information and Communication Engineering
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• v.23 no.5
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• pp.604-612
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• 2019

PKI Internet banking is used to have users register their public keys with the banking server together with the identity information, and verify the signature for both user and transaction authentications by using the registered public keys. Although the Blockchain-based financial systems such as Bitcoin adopt similar digital signature-based authentication scheme, there is no server that participants can register public keys with because they perform P2P payment transactions. The purpose of this paper is to identify the advantages and disadvantages of the Blockchain-based payment transactions by analyzing the differences between the most common PKI Internet banking and Blockchain payment systems. Based on the analysis, this paper suggests the issues that need to be enhanced from the aspects of architecture and security in order for Blockchain payment transaction systems to be applied universally.

• KIPS Transactions on Computer and Communication Systems
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• v.6 no.10
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• pp.421-428
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• 2017

The need for various approaches to non-face-to-face identification technology for registering and authenticating users online is being required because of the growth of online financial services and the rapid development of financial technology. In general, non-face-to-face approaches can be exposed to a greater number of threats than face-to-face approaches. Therefore, identification policies and technologies to verify users by using various factors and channels are being studied in order to complement the risks and to be more reliable non-face-to-face identification methods. One of these new approaches is to collect and verify a large number of personal information of user. Therefore, we propose a big-data based non-face-to-face Identity Proofing method that verifies identity on online based on various and large amount of information of user. The proposed method also provides an identification information management scheme that collects and verifies only the user information required for the identity verification level required by the service. In addition, we propose an identity information sharing model that can provide the information to other service providers so that user can reuse verified identity information. Finally, we prove by implementing a system that verifies and manages only the identity assurance level required by the service through the enhanced user verification in the non-face-to-face identity proofing process.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.6
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• pp.135-154
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• 2020

This paper analyzes the 5,521 samples of the small and medium-sized businesses(SMBs) obtained from the Korea Credit Guarantee Fund. From January 2014 to September 2019, 85% of the SMBs have 5 or fewer full-time employees. The proportion of SMBs is overwhelmed by the elderly men, and most founders are the CEO. Also, about 87% of the workplace types are rented, while 64% of the CEO's residence types are owner-occupation. 47% of the financial grade score is less than 10 points out of 100 and 80% of SMBs have less than 200 million won of the loan guarantee. In particular, the total guarantee loan amount or the days of net guarantee have significantly positive relations with the working period of the CEO in the same industry, the number of employees, the operation period of SMBs, and the corporate business type. In the case of the financial grading score which has the highest weight in overall credit rating gets higher with the higher number of employees, the longer the operation period, and the corporate business type. However, the quantified non-financial grading score has no significant relationship with other explanatory variables, except for the corporate business type. This implies that a non-financial grade score is measured by other determinants that are not observed by the Korea credit guarantee fund. The pure non-financial grade score has positive relations with the working period of the CEO. Overall, this paper would help Korean SMBs upgrade their credit ratings and expand the money supply when there is no standardized credit rating model or no publicly available evaluation criteria for SMBs. We expect this paper provides important insights for further research and policy-makers for SMBs. In particular, to address the financial needs of thin-filers such as SMBs, technology-based financial services (TechFin) would use alternative data to evaluate the financial capabilities of thin-filers and to develop new financial services.

• The Journal of Society for e-Business Studies
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• v.20 no.3
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• pp.11-28
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• 2015

Due to the mobil-centered lifestyle following the wider use of Smartphones, Mobile services, including mobile banking and mobile shopping business have increased rapidly. Also with the emergence of "Fintech", which finance combined with technology, IT based financial market is going to be highly promising. In this trend, interests mobile credit cards are increasing. But diffusion of the mobile credit card services is still in the low level. In this situation, to identify factors that influencing satisfaction and continuous usage intention on mobile credit card, this study applied innovation diffusion theory (IDT) and post acceptance model (PAM). To conducting this research, survey data were collected, and we used SmartPLS to analyze survey data. As a result of the study, perceived easy of use, image, compatibility and facilitation positively affect user's satisfaction in mobile credit cards and that such satisfaction have a positive impact on continuous intention to use. The facilitation influences user satisfaction more strongly for those who use mobile credit cards more than plastic credit cards. Also, perceived of use and image influence user satisfaction more strongly for those who use plastic credit cards more than mobile credit cards. It is expected that this study can be a guideline for credit card service providers and policy makers to invigorate mobile credit card business. Also it worths as a early-stage research on Fintech-related studies.