Bitcoin & the unbanked: a study of cryptocurrencies & financial inclusion

Methods

Summary

For this study, we are conducting an ethnography, which will include participant observation (attending events and activities for which cryptocurrencies such as Bitcoin are the central focus) and anticipate interviewing up to 50 people on their experiences of using Bitcoin. As we are based in Melbourne, Australia, we will start here, but will also attend events wherever we end up over the course of 2017.  This will include other major cities in Australia, but is also likely to include major cities in the US, such as New York, London (UK), major cities in India and potentially a couple of locations Africa. 

In addition to in person activities, we will be monitoring and engaging in online spaces where cryptocurrencies such as bitcoin are the central focus. Online spaces will include social media spaces such as Twitter and public Facebook pages.  We will also monitor and engage in active forums and other online spaces such as Reddit where cryptocurrencies are discussed.

Challenges

The challenges for a study such as this are about successfully engaging key figures and people with experience in the community.  This is about building credibility and trust. Another challenge is the technology itself.  Cryptocurrencies are constantly evolving, forking and subject to social dynamics within a community. If we focus on the main one, Bitcoin, we have a study subject right now.  However where will it be tomorrow and which cryptocurrency (s) will take its place? In engaging the community in discussion and monitoring the online trends surrounding cryptocurrencies, we can ensure that our research is  responsive to the developments and challenges within the community of cryptocurrency users and how these new forms of digital cash respond to broader socio-economic events.

Pre Analysis Plan

The data that will result from this study will take the form of interview transcripts, field notes, photographic record and text based data captured from online monitoring. 

We will analyse the collective data set  through a combination of thematic analysis (using analytical tools such as Nvivo) and the triangulation of insights gained by the research team during the course of field work. This is an iterative process that is balanced by the experience and knowledge of the research team alongside member checks that will occur where we present early findings and insights to community groups to ensure their accuracy and resonance.