A PLS-SEM neural network approach for understanding cryptocurrency adoption

Sohaib, Osama ORCID: 0000-0001-9287-5995, Hussain, Walayat ORCID: 0000-0003-0610-4006, Asif, Muhammad ORCID: 0000-0003-1839-2527, Ahmad, Muhammad ORCID: 0000-0002-3320-2261 and Mazzara, Manuel ORCID: 0000-0002-3860-4948 (2020) A PLS-SEM neural network approach for understanding cryptocurrency adoption. IEEE Access, 8. pp. 13138-13150. ISSN 2169-3536


The majority of previous research on new technology acceptance has been conducted with single-step Structural Equation Modeling (SEM) based methods. The primary purpose of the study is to enhance the new technology acceptance based research with the Artificial Neural Network (ANN) method to enable more precise and in-depth research results as compared to the single-step SEM method. This study measures the relation between technology readiness dimension (optimism, innovativeness, discomfort, insecurity) and the technology acceptance (perceived ease of use and perceived usefulness) - and the intention to use cryptocurrency, such as bitcoin. The contribution of this study include the use of a multi-analytical approach by combining Partial Least Squares- Structural Equation Modeling (PLS-SEM) and Artificial Neural Network (ANN) analysis. First, PLS-SEM was applied to assess which factor has significant influence toward intention to use cryptocurrency. Second, an ANN was employed to rank the relative influence of the significant predictor variables attained from the PLS-SEM. The findings of the two-step PLS-SEM and ANN approach confirm that the use of ANN further verifies the results obtained by the PLS-SEM analysis. Also, ANN is capable of modelling complex linear and non-linear relationships with high predictive accuracy compared to SEM methods. Also, an Importance-Performance Map Analysis (IPMA) of the PLS-SEM results provides a more specific understanding of each factor's importance-performance.

Dimensions Badge

Altmetric Badge

Item type Article
URI https://vuir.vu.edu.au/id/eprint/43364
DOI 10.1109/ACCESS.2019.2960083
Official URL https://ieeexplore.ieee.org/document/8933370
Subjects Current > FOR (2020) Classification > 4602 Artificial intelligence
Current > Division/Research > VU School of Business
Keywords cryptocurrency, Blockchain, artificial intelligence, crypto, bitocoin
Citations in Scopus 51 - View on Scopus
Download/View statistics View download statistics for this item

Search Google Scholar

Repository staff login