Accountants' acceptance of a cashless monetary system using an implantable chip
Creators: name: Young, Antony
Publisher: name: RMIT University
Year: 2024

description: A logical control extension surrounding cashless means of exchange is a permanent personal verification mark. An implanted micro chip such as ones that have been successfully implanted into humans could identify and store information. Connected with global positioning satellites and a computer system, a cashless monetary system could be formed in the future. The system would provide complete and continual real time records for individuals, businesses and regulators. It would be possible for all trading to occur in this way in the future. A modified Technology Acceptance Model was developed based on Davis' (1989) model and Fishbein and Ajzen's (1975) theory to test the acceptance level of the new monetary system by professional accountants in Australia. The model includes perceived ease of use, perceived usefulness, perceived risk, and a subjective norm component. 523 accountants were surveyed in December 2003 with a response rate of 27%. 13% either strongly agreed or agreed that they would accept the implantable chip. The analysis showed that Perception of Risk, Subjective Norm and Perception of Usefulness were all significant in explaining the dependent variable at the 95% confidence level. The Perception of Ease of Use was not proved to be significant. In consideration of response bias, it was found that with respect to the perception of usefulness at the 0.01 level, two elements were not significant, those being 'not having cards' and 'having medical information'. The difference here was not seen as fundamental for the credibility of the research given the main theme of the research is a monetary system based on the 'mark' rather than the convenience factors of the two elements where there were differences. The perceived risk variable was not significant for early responders. The responses were also used to analyse the Technology Acceptance Model developed by Davis (1989). The m odel had a significance of 0.327 compared to 0.000 giving validation to the contributions of the modified Technology Acceptance Model. Davis' (1989) model found Perception of Ease of Use was significant at the 95% confidence level and Perception of Usefulness was not proven to be significant. In further analyzing the developed model, each of the elements in the model used as independent variables were separately regressed against contributions established in open questions relating to them. Subjective norm had a regression R-squared of 0.403 and of the thirty-four explanatory variables the only significant contribution, at the 95% confidence level was 'clients'. Significant at the 10% level, were religion, public figures and friends. The professional bodies variable was not significant in determining the subjective norm. Perceived Ease of Use and the nine explanatory variables had an R-squared of 0.143. There were only two significant contributions for ease of use, at the 95% confidence level being 'privacy' and 'technology'. Perceived Usefulness and the eleven explanatory variables had an R-squared of 0.205. There were only two significant contributions for usefulness, at the 95% confidence level being 'privacy' and 'easy'. Perceived Risk and the eleven explanatory variables had an R-squared of 0.054 and no significant contributions. <br>