Accounting Research Opportunities for Cryptocurrencies

ABSTRACT During recent years, cryptocurrency has gained the attention of many large companies such as Facebook, Expedia, Apple, and Overstock to name a few. The acceptance and use of cryptocurrency in business transactions can have a major impact on a company's accounting system. However, accounting research exploring issues related to cryptocurrencies is sparse. Therefore, we identify research questions that the accounting profession should address concerning cryptocurrencies. We categorize these research questions using Rogers' theory of diffusion of innovation in an attempt to encourage and extend accounting research in cryptocurrencies to influence the design, development, adoption, implementation, and operation of the technology. We recommend that researchers take a more prescriptive approach to research, rather than a descriptive approach, given that cryptocurrency is in the infancy stage of development and adoption.