Digital Currency and Financial Inclusion: A theoretical and Empirical Perspectives

Digital cash needs a payment network with account, balances, and transaction. A central authority like banks, take control over these transactions. The problem with this type of payment network is that customers had free will to double-spend Diffusion of Innovations (DOI), explains how innovation is accepted and diffused within a social system. Rogers demonstrated five categories of adopters according to their innovativeness that embrace technological innovation at different rates: Innovators and Digital currencies are based on pre-existing IT innovative achievements. When users adopt and use digital currencies, in essence they adopt and use technology and innovation; hence, firstly, from a conceptual point of view, the combined application of IDPM and TAM is justified Hence, in the technology acceptance domain, innovativeness could be freely interpreted as the degree of interest in trying a new thing, a new concept or innovative product or service. The study recommends the encouragement of digital currency since it has proven to have a great influence on the financial inclusion. Also, Banking Services when extended to the remote areas will not only reduce financial exclusion but will enhance the output in the economy.