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Title: An analysis of the extent to which cryptocurrencies are being used and accepted within the Maltese iGaming industry
Authors: Marshall, Andrew George
Keywords: Gambling industry -- Malta
Internet gambling -- Malta
Cryptocurrencies -- Malta
Issue Date: 2018
Citation: Marshall, A.G. (2018). An analysis of the extent to which cryptocurrencies are being used and accepted within the Maltese iGaming industry (Bachelor's dissertation).
Abstract: The aim of this research was to analyse the extent to which cryptocurrencies are being used and accepted by iGaming companies in Malta. This study sought to understand the underlying reasons for adoption or otherwise of cryptocurrencies through an exploration of iGaming professionals’ perceptions about blockchain technology. A quantitative survey was carried out through a questionnaire which was distributed at a specialised iGaming conference to industry professionals. 99 responses were collected and then analysed using the Chi-Square test to test for a statistical significant association between two variables. It was found that a significant majority of the population (almost 80%) were not cryptocurrency users at the time of asking, although 34% of these non-users are already in the process of implementing or planning to prepare for the use of cryptocurrencies. The research also explores remote gaming companies’ current stance on cryptocurrencies, readiness to adopt them, and capability to adapt to an evolving environment. The results obtained from my survey showed that 55% of respondents either work for companies that already accept crypto payments, that are preparing themselves to accept crypto payments, or believe that their companies will soon begin preparing for them. My study pointed towards a direct correlation between the level of exposure an individual has to cryptocurrencies and that person’s level of trust in them. It was evident that those with a deeper understanding of the subject had a lot more confidence in the reliability of the technology. Furthermore, the limiting factors hindering a widespread implementation of cryptocurrencies amongst the population were discussed and analysed at length. Key issues in this regard were found to be related to the volatility of cryptocurrencies, the potential risk of untraceable criminal activity and a sluggish approach and general lack of awareness on the matter. The paper ends with a series of recommendations on what needs to be done by industry and government to drive this emerging technology forward in the iGaming field: education, regulation, promotion and research & development as the four pillars of action.
Description: B.SC.BUS.&I.T.
Appears in Collections:Dissertations - FacEma - 2018
Dissertations - FacEMAMAn - 2018

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