DIGITAL CURRENCIES AND BLOCKCHAIN TECHNOLOGY WITHIN CONSERVATIVE MONETARY SYSTEMS: ECONOMIC IMPACTS AND REGULATORY CHALLENGES – JORDAN AS A CASE STUDY

Abstract

The present study aims to examine digital currencies and blockchain technology within conservative monetary systems, as well as the economic impacts and regulatory challenges associated with their adoption in Jordan. The descriptive–analytical approach was employed due to its suitability for the objectives of the study. The study sample consisted of 352 respondents drawn from individuals participating in the economic process in Jordan, selected using simple random sampling. A measurement instrument was developed for data collection, and its validity and reliability were duly verified.

The findings indicate that digital currencies and blockchain technology within conservative monetary systems have a moderate level of economic impact in Jordan. The results also reveal the existence of numerous regulatory challenges facing the use of digital currencies and blockchain technology within conservative monetary systems in Jordan. Based on these findings, a set of recommendations was proposed, most notably the need for legislative and regulatory authorities to establish a comprehensive legal framework governing the use of digital currencies and blockchain technology. Such a framework should clearly define legal responsibilities, address potential risks, and ensure the protection of users without hindering innovation.