A Consumer-Centric Study of Factor Presence and Polarity in Bitcoin's Innofusion

Sammanfattning: This paper identifies the existence of and studies the polarity of innofusion factors leveraged today in the discourse on Bitcoin as a cryptocurrency. Since its inception in 2008, Bitcoin (BTC), created and led by infamous entity Satoshi Nakamoto, aspires to be employed as a vehicle of routine economic activity, yet potential users' opinions are largely unexplored. To identify what factors employed today act as motivation and obstacle to Bitcoin becoming a mainstream currency, we utilize corpus of literature on innofusion to identify potential factors, rely on secondary research to assert their existence and employ qualitative interviews to study their polarity. Our findings clash with contemporaneous belief that anonymity and decentralization drive Bitcoin's innofusion, and instead, points to new groups of factors for Bitcoin to leverage in its favor. Though its findings, this paper aims to (i) contribute to the young, but growing body of literature on innofusion by testing what factors from its preceding school of thought- diffusion of innovation, still apply, and (ii) add to Nakamoto Institute's understanding of consumer landscape, provide development suggestions for not only Bitcoin's, but by extension Blockchain's, innofusion strategies.