A Qualitative Deep Dive into Swedish Financial Stakeholders’ Sensemaking of Stablecoins
Typ
Examensarbete för masterexamen
Master's Thesis
Master's Thesis
Program
Management and economics of innovation (MPMEI), MSc
Quality and operations management (MPQOM), MSc
Quality and operations management (MPQOM), MSc
Publicerad
2024
Författare
Persson, Melissa
Lundskog, Marcus
Modellbyggare
Tidskriftstitel
ISSN
Volymtitel
Utgivare
Sammanfattning
Global financial transactions face persistent challenges, including high costs, slow
processing times, limited accessibility, and a lack of transparency, often taking 1-3
banking days to complete depending on the destination. These inefficiencies have
spurred innovations outside traditional banking, notably the development of stable-
coins. Stablecoins leverage blockchain technology and are a digital form of money
designed to maintain a stable value by being pegged to assets, such as fiat currencies
or commodities. The market valuation of stablecoins has surged from around $ 5
billion to nearly $ 200 billion in two years, showcasing stablecoins growing impact
on the financial sector. The potential path of stablecoins reaching mass adoption
involves not only economic challenges but also a complex political battleground.
This thesis’ aim is to contribute to the currently scarce research regarding sensemak-
ing of how representatives of Swedish financial stakeholders perceive and anticipate
the emergence of stablecoins. Employing a qualitative research design, this study
gathered data through semi-structured interviews with key representatives from the
Swedish financial sector.
The findings reveals that perceptions of stablecoins are influenced by actor dynam-
ics, individual factors, and technical aspects, with regulatory actors playing a pivotal
role. Furthermore, through these influencing factors the study revealed that there
exists a market divide characterized by "us versus them" mentality. This divide could
grow, complicating regulatory collaboration and stifling innovation, potentially driv-
ing innovators abroad to more favorable judicial environments in the future. The
conclusion underscores the need for enhanced collaboration, open debate, mutual
understanding and learning among market actors to maintain a well-functioning
and competitive Swedish financial market.
Beskrivning
Ämne/nyckelord
Stablecoins , Sensemaking , Sensegiving , Sensebreaking , Digital Currencies , Cryptocurrencies , Blockchain Technology , Gioia Methodology , Technical Aspects , Individual Factors , Actor Dynamics, , Stablecoins Future Implementation