Factors Influencing Adoption Intentions of Digital Currency A Qualitative Study from China

Abstract This study investigates the key factors influencing Chinese individuals' intentions to adopt digital currency, specifically focusing on digital currency (e-CNY). Through in-depth interviews with 30 participants and qualitative analysis using NVivo software, the research identifies six critical determinants: perceived usefulness, payment habits, comparative advantage, privacy concerns, financial literacy, and perceived security.Findings reveal that perceived usefulness, comparative advantage, and perceived security significantly positively affect adoption intentions. In contrast, payment habits, privacy concerns, and financial literacy demonstrate nuanced impacts: individuals accustomed to third-party payment platforms (e.g., Alipay, WeChat Pay) exhibit lower acceptance of e-CNY; younger generations show weaker privacy concerns; and elderly populations, due to limited financial literacy and heightened security awareness, display weaker adoption intentions.Based on these results, we propose actionable strategies to enhance e-CNY adoption, including improving its perceived utility, fostering habitual usage, and promoting financial education. This study contributes to the literature on digital currency adoption by offering a micro-level perspective from China’s unique socio-economic context. It provides practical insights for policymakers aiming to accelerate e-CNY’s integration into the digital economy.