Rights statement: © ACM. 2017. This is the author's version of the work. It is posted here for your personal use. Not for redistribution. The definitive Version of Record was published in CHI '17 Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems http://dx.doi.org/10.1145/3025453.3025886
Accepted author manuscript, 473 KB, PDF document
Available under license: CC BY-NC: Creative Commons Attribution-NonCommercial 4.0 International License
Final published version
Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Conference contribution/Paper › peer-review
Research output: Contribution in Book/Report/Proceedings - With ISBN/ISSN › Conference contribution/Paper › peer-review
}
TY - GEN
T1 - Design for trust an exploration of the challenges and opportunities of Bitcoin users
AU - Sas, Corina
AU - Khairuddin, Irni
N1 - © ACM. 2017. This is the author's version of the work. It is posted here for your personal use. Not for redistribution. The definitive Version of Record was published in CHI '17 Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems http://dx.doi.org/10.1145/3025453.3025886
PY - 2017/5/6
Y1 - 2017/5/6
N2 - Bitcoin is a cryptocurrency which has received increasing interest over the last five years. Built upon a decentralized peer to peer system, it supports transparent, fast, cost effective, and irreversible transactions, without the need for trusting third party financial institutions. We know however little about people’s motivation and experience with bitcoin currency. This paper reports on interviews with 20 bitcoin users about their experience and their trust challenges. Findings show that bitcoins are used more as commodities for speculative investment or savings’ protection. The paper advances the HCI theories on trust by identifying main bitcoin characteristics and their impact on trust, such as decentralization, unregulation, embedded expertise, and reputation, as well as transactions’ transparency, low cost, and easiness to complete. We also discuss the issue of insecure transactions and the associated risks, in particular the one of dishonest traders and its mitigating strategies. The paper concludes with three design implications including support for the transparency of two-way transactions, tools for materializing trust, and tools for supporting reversible transactions.
AB - Bitcoin is a cryptocurrency which has received increasing interest over the last five years. Built upon a decentralized peer to peer system, it supports transparent, fast, cost effective, and irreversible transactions, without the need for trusting third party financial institutions. We know however little about people’s motivation and experience with bitcoin currency. This paper reports on interviews with 20 bitcoin users about their experience and their trust challenges. Findings show that bitcoins are used more as commodities for speculative investment or savings’ protection. The paper advances the HCI theories on trust by identifying main bitcoin characteristics and their impact on trust, such as decentralization, unregulation, embedded expertise, and reputation, as well as transactions’ transparency, low cost, and easiness to complete. We also discuss the issue of insecure transactions and the associated risks, in particular the one of dishonest traders and its mitigating strategies. The paper concludes with three design implications including support for the transparency of two-way transactions, tools for materializing trust, and tools for supporting reversible transactions.
KW - Bitcoin
KW - bitcoin users
KW - trust
KW - dishonest traders
KW - risks
U2 - 10.1145/3025453.3025886
DO - 10.1145/3025453.3025886
M3 - Conference contribution/Paper
SN - 9781450346559
SP - 6499
EP - 6510
BT - CHI '17 Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems
PB - ACM
CY - New York
T2 - ACM Conference Computer Human Interaction 2017
Y2 - 6 May 2017 through 11 May 2017
ER -