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Cryptocurrencies Perception Using Wikipedia and Google Trends

Department of Information Systems, Poznań University of Economics and Business, 61-875 Poznań, Poland
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This paper is an extended version of our paper published in Business Information Systems Workshops (BIS 2019), 26–28 June 2019, Seville, Spain.
Information 2020, 11(4), 234; https://doi.org/10.3390/info11040234
Received: 26 March 2020 / Revised: 20 April 2020 / Accepted: 22 April 2020 / Published: 24 April 2020
(This article belongs to the Special Issue Blockchain and Smart Contract Technologies)
In this research we presented different approaches to investigate the possible relationships between the largest crowd-based knowledge source and the market potential of particular cryptocurrencies. Identification of such relations is crucial because their existence may be used to create a broad spectrum of analyses and reports about cryptocurrency projects and to obtain a comprehensive outlook of the blockchain domain. The activities on the blockchain reach different levels of anonymity which renders them hard objects of studies. In particular, the standard tools used to characterize social trends and variables that describe cryptocurrencies’ situations are unsuitable to be used in the environment that extensively employs cryptographic techniques to hide real users. The employment of Wikipedia to trace crypto assets value need examination because the portal allows gathering of different opinions—content of the articles is edited by a group of people. Consequently, the information can be more attractive and useful for the readers than in case of non-collaborative sources of information. Wikipedia Articles often appears in the premium position of such search engines as Google, Bing, Yahoo and others. One may expect different demand on information about particular cryptocurrency depending on the different events (e.g., sharp fluctuations of price). Wikipedia offers only information about cryptocurrencies that are important from the point of view of language community of the users in Wikipedia. This “filter” helps to better identify those cryptocurrencies that have a significant influence on the regional markets. The models encompass linkages between different variables and properties. In one model cryptocurrency projects are ranked with the means of articles sentiment and quality. In another model, Wikipedia visits are linked to cryptocurrencies’ popularity. Additionally, the interactions between information demand in different Wikipedia language versions are elaborated. They are used to assess the geographical esteem of certain crypto coins. The information about the legal status of cryptocurrency technologies in different states that are offered by Wikipedia is used in another proposed model. It allows assessment of the adoption of cryptocurrencies in a given legislature. Finally, a model is developed that joins Wikipedia articles editions and deletions with the social sentiment towards particular cryptocurrency projects. The mentioned analytical purposes that permit assessment of the popularity of blockchain technologies in different local communities are not the only results of the paper. The models can show which country has the biggest demand on particular cryptocurrencies, such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, Monero, Litecoin, Dogecoin and others. View Full-Text
Keywords: cryptocurrencies; wikipedia; bitcoin; information demand; information quality cryptocurrencies; wikipedia; bitcoin; information demand; information quality
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Stolarski, P.; Lewoniewski, W.; Abramowicz, W. Cryptocurrencies Perception Using Wikipedia and Google Trends. Information 2020, 11, 234.

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