96

Blockchain Technology

the general populace having no idea about its use. The intended use drives one to

acquire the currency well in advance, especially when one plans to make overseas

payments, as indicated in Table 6.6.

Table 6.6 translates the drive in acquiring of the currency in Table 6.9 to Table 6.10,

where 63.6% of the respondents were expecting to use the currency soon for trans­

actions. The main reason behind the desire for cryptocurrency is the nature of the

Zimbabwe economy and the absence of local currency that has value for interna­

tional purchases as well as inflation pressure in a volatile economy. A significant

percentage of respondents had no intention of using cryptocurrency for purchases,

as given by 28.6% of the targeted population. An independent test (Kruskal–Wallis)

was performed based on the respondent’s qualifications, and the statistics produced

TABLE 6.4

Descriptive Statistics of Commonly

Used Cryptocurrencies in Zimbabwe

N

Mean

Std. Deviation

Bitcoin

63

2.00

0.000

Litecoin

63

1.13

0.338

Ripple

63

1.05

0.216

Ethereum

63

1.15

0.355

Monero

63

1.00

0.000

Eos

63

1.00

0.000

Cardano

63

1.00

0.000

Iota

63

1.00

0.000

Tron

63

1.05

0.216

Bitcoin Cash

63

1.08

0.275

Source: Primary data.

TABLE 6.5

Attainment of Cryptocurrencies in last 12 Months?

Occurrence

Percentage

Effective

percentage

Cumulative

percentage

Never

20

14.3

14.3

14.3

Once

27

19.2

19.2

33.5

2–5 times

56

40.0

40.0

73.6

More than 6 times

37

26.4

26.4

100.0

Total

140

100.0

100.0

Source: Primary data.