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Title: AN ASSESSMENT OF THE ADOPTION OF CRYPTOCURRENCY AS A MODE OF PAYMENT BY SMES IN KIAMBU COUNTY, KENYA
Authors: Dr. Agnes Mutiso , Brian Maguru
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Dr. Agnes Mutiso1 , Brian Maguru2 1School of business and Economics Kirinyaga University, Kenya. 2School of business, Nazarene University, Kenya.
MLA 8 Mutiso, Dr. Agnes, and Brian Maguru. "AN ASSESSMENT OF THE ADOPTION OF CRYPTOCURRENCY AS A MODE OF PAYMENT BY SMES IN KIAMBU COUNTY, KENYA." Int. j. of Social Science and Economic Research, vol. 5, no. 7, July 2020, pp. 2000-2013, ijsser.org/more2020.php?id=138. Accessed July 2020. APA 6 Mutiso, D., & Maguru, B. (2020, July). AN ASSESSMENT OF THE ADOPTION OF CRYPTOCURRENCY AS A MODE OF PAYMENT BY SMES IN KIAMBU COUNTY, KENYA. Int. j. of Social Science and Economic Research, 5(7), 2000-2013. Retrieved from ijsser.org/more2020.php?id=138 Chicago Mutiso, Dr. Agnes, and Brian Maguru. "AN ASSESSMENT OF THE ADOPTION OF CRYPTOCURRENCY AS A MODE OF PAYMENT BY SMES IN KIAMBU COUNTY, KENYA." Int. j. of Social Science and Economic Research 5, no. 7 (July 2020), 2000-2013. Accessed July, 2020. ijsser.org/more2020.php?id=138.
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Abstract: Technology advancement has affected almost all the spheres of operation in the world today forcing people to move from the traditional ways of doing business. The evolution has now moved from the traditional payment methods to the virtual payment methods such as the use of Bit-coins and cryptocurrency. The study sought to assess the extent to which SMEs have adopted the use of cryptocurrencyas a mode of payment in Kenya with specific focus on SMEs within Kiambu County. The study used Descriptive survey design where 344 SMEs were sampled from a target of 3250 registered Smes in Kiambu County. Primary data was collected with the help of a self-administered questionnaire and analyzed descriptively while secondary data was collected through literature review from online journals. The study found out that the respondents were positive towards adoption of cryptocurrency as a method of payment. Majority of them would not only prefer it compared to the cash based methods of payment but also would do so soonest and given the opportunity they would even request the government for it. On the basis of these findings the study concluded that Kenya is a fertile ground for the new payment technologies especially among the SMEs in the service sector owned by men. Thus the study recommends that the government should accept this new technology based methods of payment and create awareness so that the informal sector would know how they work and the benefits associated with their adoption as a method of alleviating the challenges associated with the cash based methods of payment.

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