Although no established method exists to identify a suitable location for cryptocurrency adoption, TotalCrypto believes that a solid methodology can be built around theories concerning the topic and drawing from pre existing academic work in related fields. An example of this pre-existing academic work can be seen in anthropology, where communities have been introduced to and adopted alternative physical currencies. Indeed, applying this work to cryptocurrency could be viewed as it’s natural progression.
TotalCrypto recommends that both qualitative and quantitative research methods are used to create a process to determine if a location has a high likelihood of crypto adoption.
On the qualitative research side of things, it is advised that there should be collaboration with academics who have studied and done fieldwork on the adoption of alternative physical currencies. The logic is that the same types of selection criteria could be used as a foundation for identifying suitable locations for cryptocurrency adoption. Additional criteria will of course have to be assessed to make the selection criteria fit for cryptocurrency e.g. access to internet and smartphone ownership levels.
It is proposed that quantitative research is used to help filter down possible case study locations using a data driven approach. Data sets like census data, inflation data, 3G coverage data, crime statistics, local salary data and information from organisations like Transparency International can all be used to make an initial assessment of potential case study locations. This research can further be enhanced by identifying charities operating in potential case study regions.
After the completion of this initial research, it is then proposed that all research is consolidated into a ‘Case Study Recommendation Report’ where the top three candidates for case study deployment are presented with their pros and cons. This report can then be used as the basis for participating projects and the crypto community to decide if they want to pursue a case study and rank them in order of preference.