METAVERSE MARKETING: HOW THE METAVERSE WILL SHAPE THE DEVELOPMENT OF TOURISM AND PRACTICE,THE CASE STUDY OF MACAU

ABSTRACT

SINCE THE ADVENT OF BITCOIN, CRYPTOCURRENCIES HAVE EMERGED AS A TRANSFORMATIVE FINANCIAL TECHNOLOGY. OVER THE YEARS, BLOCKCHAIN HAS PROVIDED DECENTRALISED AND SECURE TRANSACTION METHODS THAT HAVE BECOME INCREASINGLY ATTRACTIVE TO INDIVIDUALS AND BUSINESSES, LEADING TO THEIR RAPID GLOBAL ADOPTION DRIVEN BY CONSUMER PREFERENCES AND THE GROWING DIGITALISATION OF THE FINANCIAL SYSTEM. THIS DISSERTATION EXAMINES THE FACTORS INFLUENCING THE WIDESPREAD ACCEPTANCE OF CRYPTOCURRENCIES, INCLUDING THEIR POTENTIAL FOR THE FINANCIAL MARKET, THE IMPACT OF REGULATORY FRAMEWORKS, AND THE ROLE OF BLOCKCHAIN TECHNOLOGY. THE RESEARCH QUESTIONS ARE: (RQ1) WHAT IS THE DEGREE OF ADOPTION OF CRYPTOCURRENCIES IN DIFFERENT COUNTRIES AND REGIONS (RQ2) WHAT ARE THE FACTORS THAT INFLUENCE THE ADOPTION OF CRYPTOCURRENCIES IN DIFFERENT COUNTRIES OR REGIONS AS IDENTIFIED IN EXTANT RESEARCH? (RQ3) WHAT ARE THE IMPLICATIONS FOR COUNTRIES OR REGIONS THAT HAVE NOT ADOPTED CRYPTOCURRENCIES? THIS STUDY ANALYSES 108 DOCUMENTS, INCLUDING UNIVERSITY ACADEMIC PAPERS, FINANCIAL REPORT ARTICLES, ETC. THE ANALYTICAL TOOLS INCLUDE AUTOMATIC CODING, MANUAL CODING, WORD CLOUD, WORD FREQUENCY TABLE, CLUSTER ANALYSIS, HIERARCHICAL CHART IN NVIVO, FOLLOWED BY A THEMATIC NETWORK ANALYSIS. SIX KEYWORDS, ‘BITCOIN’, ‘BLOCKCHAIN’, ‘FINANCIAL’, AND ‘MARKET’ HAVE THE HIGHEST FREQUENCY. THIS STUDY ALSO ANALYSE DIFFERENT REGIONS WITH DIFFERENT DEGREES OF CRYPTOCURRENCY ADOPTION SEPARATELY: COUNTRIES WHERE CRYPTOCURRENCIES ARE LEGAL, COUNTRIES THAT USE BITCOIN AS A LEGAL TENDER, AND COUNTRIES THAT BAN CRYPTOCURRENCIES. THE THEMATIC NETWORK MODEL INDICATES THAT WHILE CRYPTOCURRENCIES OFFER SIGNIFICANT OPPORTUNITIES FOR INNOVATION AND ECONOMIC GROWTH, SOCIAL AWARENESS, GOVERNMENT INSTITUTIONS, TECHNOLOGY, SECURITY, PRICE VALUE, AND INDIVIDUAL CONSUMER FACTORS ARE CRITICAL TO ADDRESSING INHERENT CHALLENGES AND FOSTERING A STABLE ADOPTION ENVIRONMENT. FOR NON-CRYPTOCURRENCY REGIONS, RETHINKING THEIR STANCE ON CRYPTOCURRENCIES IS KEY TO AVOIDING DERAILING WORLD FINANCIAL MARKETS.