Bitcoin Use Cases: A Scoping Review

Abstract

This scoping review examines individual and societal use cases of Bitcoin in the peer-reviewed literature. Arksey and O’Malley’s scoping review methodology was used, and a comprehensive search strategy was employed using Web of Science and Engineering village databases. Articles were screened at the title and abstract and full-text levels by the authors. One author conducted data extraction to summarize the data. In total, 17 relevant articles were included in this review. Investment and savings were the most widely reported use cases at an individual level, with payments and international transfers less frequently reported in the studies. Only two studies reported on societal use cases of legal tender; however, only one country, El Salvador, executed its intention. Our study suggests that Bitcoin is being used by individuals around the world with little report of societal (e.g., country adoption) uses cases. For example, there is evidence on the internet and on a grass-roots level that Bitcoin is being used in circular economies; however, the peer-reviewed literature may not yet capture the extent and full benefits and challenges. As such, we provide ideas for future research to more comprehensively explore Bitcoin uses and its impacts on individuals and society.