PAYPAL AND BITCOIN

Investigating the effect of privacy on Pay Pal and Bitcoin

ABSTRACT

Advancement of technology has given rise to globalization establishing avenues for the business around the world. This phenomenon has given rise to novel business such as online selling and purchasing of goods and services connecting sellers and consumers around the globe. However, the payment for these online purchases is a crucial concern for the consumers worldwide. Consumers are confronted with the issue of information misuse and have varying perception regarding the use of online payment options. This study has focused on people in UK and has been designed to find out the consumers concerns for online privacy of information as well as to improve the system of online purchasing for ensuring secure transactions for the consumers. For this purpose focus group are conducted to obtain the views and perceptions if users regarding online payments. A careful study of the privacy policies of famous online services PayPal and Bitcoin have been made to understand how these services protect consumers from online miser use of information. The study also shows that apart from the issues experienced by the consumers, certain issues are also being experienced bib the businesses. Moreover, the banking sector is also likely to be affected by the use of virtual currency.

RESEARCH METHODOLOGY

Introduction

This chapter highlights the various methods and approaches which are used in research. It explains the various approaches by which a research can be conducted along with the pros and cons of each research approach. It highlights the various research designs, and how each can be applied. It explains the qualitative and the quantitative methods used in research, and also distinguish between the kinds of data which can be collected. It explains the instruments which can be used to conduct various kinds of researches, and also elaborates upon the use of these instruments. It further highlights the method which will be adopted to conduct this research, along with a justification for the chosen method. It highlights the approach of analyzing the information gathered, and provides an overview of the entire research methodology.

Research design

Research design has been defined by many authors. It can be simply defined as a series of activities which is undertaken by researchers to collect and analyze the data gathered during the course of research (Shukla¸ 2010). It is a document which enables researchers to conduct this series of activities for the collection and analysis of data in an orderly manner. It also helps to explain and evaluate the various research methods which can be used by researchers for collecting and analyzing data. The development of a research design facilitates the researchers with an evaluation of the activities planned for research, at an earlier phase, enabling the researchers to find out any flaws in the research design before it is undertaken (Blaikie, 2010). Research designs can commonly be divided into the broad categories of qualitative and quantitative approaches, and can be basically distinguished upon the ways in which data is gathered in these methods ...