Cryptocurrencies in the family context: trust, information and financial stability

Marta Maciejasz; Robert Poskart

doi:10.25167/FF/5578

Published: 2024-12-20

Vol. 14 (2024)

Cryptocurrencies in the family context: trust, information and financial stability

dr hab. Marta Maciejasz, prof. UO , dr Robert Poskart

Family Forum

Section: Varia (o rodzinie)

https://doi.org/10.25167/FF/5578

Abstract

Background: The rapid rise of cryptocurrencies has sparked debate about their role in the financial system, particularly across generations.

Objectives: This study aimed to identify and explain differences in attitudes towards cryptocurrencies between Generation Z (students) and Generation Y (their parents) in Poland, focusing on trust in the financial system, perceptions of cryptocurrency value, and visions of the future financial landscape.

Methodology: A survey was conducted in June 2023 with 40 students aged 23-24 and one of their parents each (80 total participants). Respondents answered questions about their trust in traditional and crypto finance, views on cryptocurrency potential, and expectations for future financial systems.

Results: Generation Z showed significantly greater openness and trust in cryptocurrencies compared to Generation Y. The younger generation was more likely to view cryptocurrencies as inflation hedges and potential components of future payment systems. Generation Y demonstrated higher trust in the current financial system and fiat currency.

Conclusions: The study reveals substantial intergenerational differences in cryptocurrency perceptions, with implications for financial education, regulation, and innovation. These divergences may shape the future evolution of financial markets and monetary systems.

Keywords:

cryptocurrencies, Generation Z, Generation Y, financial system, trust, digital assets, monetary innovation, intergenerational differences

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Maciejasz, M., & Poskart, R. (2024). Cryptocurrencies in the family context: trust, information and financial stability. Family Forum, 14, 387–407. https://doi.org/10.25167/FF/5578

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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

dr hab. Marta Maciejasz, prof. UO

Affiliation:

University of Opole, Institute of Economics and Finance Poland

dr Robert Poskart

rposkart@uni.opole.pl

Affiliation:

University of Opole, Institute of Economics and Finance Poland

Bio Statement (e.g., department and rank)

Robert Poskart graduated from the Faculty of Economics at Opole University. During his studies, he completed an internship at the Department of Foreign Affairs and Trade in Dresdner Bank Heidelberg (Germany) and participated in an academic exchange program, studying economics (BWL) at FH Trier (Germany). He obtained his Ph.D. from the University of Opole. Currently, he serves as an assistant professor at the Department of Accounting and Finance at the Faculty of Economics at the University of Opole (Poland) and is a member of the Polish Economic Society (PTE). His research interests include the theory of money, financial markets, and their connections with other segments of the global economy. He has authored several dozen scientific articles and co-authored several books in these fields. He is member of several international teams and projects, incl. ReThink Finance - Integrating innovative paradigms and digital technologies into financial teaching, FORTHEM Alliance.

Major publications:

Maciejasz Marta, Poskart Robert: „Percepcja kryptowalut przez młodych uczestników rynku finansowego na przykładzie Polski i Niemiec”, Bank i Kredyt, vol. 53, nr 6, 2022, pp. 625–649;
Poskart Robert: „The emergence and development of the cryptocurrency as a sign of global financial markets financialisation” , Central European Review of Economics & Finance, vol. 36, nr 1, 2022, pp. 53–66, DOI:10.24136/ceref.2022.004;
Maciejasz Marta, Poskart Robert: „Cryptocurrencies in Poland and Russia – Similarities and Differences|, in: „Pandemie als nicht alltägliches Event-Risk: Auf der Suche nach Resilienz für Staaten, Unternehmen, Banken und Vermögen”, (eds) Nikitina Tatjana, Renker Clemens, 2022, Springer, ISBN 978-3-658-36503-5, pp. 251–260, DOI:10.1007/978-3-658-36504-2_25;
Maciejasz Marta, Poskart Robert: „Percepcja kryptowalut przez młodych uczestników rynku finansowego na przykładzie Polski i Niemiec”, Bank i Kredyt, vol. 53, nr 6, 2022, pp. 625–649;
Poskart Robert: „The emergence and development of the cryptocurrency as a sign of global financial markets financialisation”, Central European Review of Economics & Finance, vol. 36, nr 1, 2022, pp. 53–66, DOI:10.24136/ceref.2022.004;
Maciejasz Marta, Poskart Robert: „Cryptocurrencies in Poland and Russia – Similarities and Differences, W: Pandemie als nicht alltägliches Event-Risk : Auf der Suche nach Resilienz für Staaten, Unternehmen, Banken und Vermögen”, (eds) Nikitina Tatjana, Renker Clemens, 2022, Springer Gabler, ISBN 978-3-658-36503-5, pp. 251–260, DOI:10.1007/978-3-658-36504-2_25;
Maciejasz-Świątkiewicz Marta, Poskart Robert: „Cryptocurrency Perception Within Countries: A Comparative Analysis”, European Research Studies Journal, University of Piraeus, International Strategic Management Association, vol. 23, nr 2, 2020, pp. 186–203, DOI:10.35808/ersj/1588;
Poskart Robert: „Cryptocurrencies in the Light of Money Definitions”, European Research Studies Journal, University of Piraeus, International Strategic Management Association, vol. 28, nr 2, 2020, pp. 905–915, DOI:10.35808/ersj/1905;
Poskart Robert: „Challenges faced by the banking sector in the context of the development of blockchain technology”, in: EU’s Connectivity in Times of Eurasian Dynamics, (ed.) Hummel Detlev (red.), 2020, Welt Trends, ISBN 978-3-947802-44-9, pp. 205–215;