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AWARENESS, ATTITUDE, AND PERCEPTION OF GRADE 12 ACADEMIC TRACKSHS STUDENTS OF VALENCIA NATIONAL HIGH SCHOOL TOWARDSCRYPTOCURRENCIESA Qualitative-Quantitative Research Paper presented to the Faculty of Senior High SchoolVALENCIA NATIONAL HIGH SCHOOL Valencia City, Bukidnonin partial fulfillment of th...

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AWARENESS, ATTITUDE, AND PERCEPTION OF GRADE 12 ACADEMIC TRACK SHS STUDENTS OF VALENCIA NATIONAL HIGH SCHOOL TOWARDS CRYPTOCURRENCIES

A Qualitative-Quantitative Research Paper presented to the Faculty of Senior High School VALENCIA NATIONAL HIGH SCHOOL Valencia City, Bukidnon

in partial fulfillment of the requirements in INQUIRIES, INVESTIGATION, AND IMMERSION

Dalimocon, Crisha Jean H. Dalahay, Christine Sangasina, Vanissa Mae Labo, Mary Grace Bautista, Rosemarie Dawitan, Julie B. Santos, Kris Dana Verdida, Marlon

Grade 12- ABM Admirable

Fatima D. Oguimas Inquiries, Investigation, and Immersion Adviser

February 2021

Chapter 1 INTRODUCTION This chapter of the paper presents the problem and its setting. It includes the background of the study, the statement of the problem, objective of the study, significance of the study, and scope and delimitation of the study. Background of the Study Money is something that keeps a great value in the life of any living human being on this planet, and its history dates back to the ancient time when Gold, Silver, and other metal coins were used for buying goods and other essential items. Later on, the progressive development of computers and the invention of the Internet gave birth to Internet banking and due to further advancement of mobile phone technology, we can easily avail the facilities like mobile banking or mobile payment gateways where all transactions will be done just through one click in our mobile. In recent years, the rise of cryptocurrencies has drawn considerable interest from the media and users alike. Cryptocurrency is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions and this currency work using a technology called the blockchain [ CITATION Roy21 \l 1033 ]. Cryptocurrency only exist in the digital environment which means that you can only access it through the internet from a computer or a mobile device and most of this is decentralized or don’t have any central server [ CITATION Mac20 \l 1033 ].

Cryptocurrency provides a lot of benefits to users. Even though it is only accessible through the internet, cryptocurrency can be accessed 24/7 and provide many benefits like: no fees, transfers real-time, international use, mobility, ecommerce, anonymity, and growing market [ CITATION McE18 \l 1033 ]. However, as with extensive consumer adaptation of cryptocurrency also faces challenges, this includes: lack of merchant acceptance, risk of loss due to hacking of cryptocurrency exchanges or the loss of private keys, the learning curve associated with understanding the technical complexity to a level of comfort fears that particular cryptocurrencies may be scams or may go defunct, and concerns about legality and tax implications of use [ CITATION Dep19 \l 1033 ]. Thus, to further understand and disseminate awareness on cryptocurrencies, the researchers decided to evaluate the attitude and perception of senior high school of Valencia National High School on cryptocurrencies. Statement of the Problem This study aimed to evaluate the awareness, attitude, and perception of students from the grade 12 academic track senior high school of Valencia National High School towards cryptocurrencies. In particular, it aimed to address the following questions: 1. What is the demographic profile of grade 12 academic track senior high school students in terms of: a. age?;

b. sex?; and c. strand? 2. What is the awareness of grade 12

academic track senior high school

students towards cryptocurrencies in terms of; a. prior knowledge?; b. source of information?; and c. level of understanding? 3. What is the level of attitude on cryptocurrencies of the following grade 12 academic track: a. Accountancy, Business, and Management (ABM)?; b. General Academic Strand (GAS)?; c. Humanities and Social Sciences (HUMSS)?; and d. Science, Technology, Engineering, and Mathematics (STEM)? 4. Is there a significant difference between the different strands of the grade 12 academic track and the level of attitude? 5. Is there a significant relationship between the demographic profile, awareness, and the level of attitude of the grade 12 academic track senior high school students? 6. What is the perception of grade 12 academic track senior high school students on cryptocurrency? Objective of the Study

This study aimed to evaluate the awareness, attitude, and perception of students from the grade 12 academic track senior high school of Valencia National High School towards cryptocurrencies. In particular, it aimed to address the following objectives: 1. identify the demographic profile of the grade 12 academic track senior high school students in terms of: a. age?; b. sex?; and c. strand? 2. assess the awareness of grade 12 academic track senior high school students towards cryptocurrencies in terms of; a. prior knowledge; b. source of information; and c. level of understanding; 3. establish the level of attitude on cryptocurrencies of the following grade 12 academic track: a. Accountancy, Business, and Management (ABM); b. General Academic Strand (GAS); c. Humanities and Social Sciences (HUMSS); and d. Science, Technology, Engineering, and Mathematics (STEM); 4. identify if there is a significant difference between the different strands of the grade 12 academic track and the level of attitude;

5. determine if there is a significant relationship between the demographic profile, awareness, and the level of attitude of the grade 12 academic track senior high school students; 6. ascertain the perception of the grade 12 academic track senior high school students on cryptocurrency. Significance of the Study The findings of the study entitled “Awareness, Attitude, and Perception of Grade 12 Academic Track SHS Students of Valencia National High School towards Cryptocurrencies” would serve as a guide to policy recommendations and enhancement of the system. The beneficiaries of this study include the following: Students The study marked its significance in providing awareness and knowledge on students. Allowing students to have broader understanding on digital money and utilize the benefit it brings. The study would also introduce new ideas and opportunities. Citizens and Institutions The study would highlight the evolution of money. Some experts predict that these technologies will revolutionize the future, putting an end to central banking systems, traditional modes of exchange, and the very nature of government and financial control. The study would also provide awareness and knowledge to everyone about its importance. Businessmen and Companies

The study would provide information on business owners about the awareness of people on cryptocurrency. This would help them realize adapting the evolution of the finances of the society and make adjustments on their business. Future Researchers As

the

study

produced

general

information

and

knowledge

about

cryptocurrencies, it can be used on the delivery of qualitative and quantitative based data to different students, teachers, experts and anyone who is working on this field. The study would also serve as basis for any other researches related to cryptocurrency in the future. Scope and Delimitation The study only focused on the awareness, attitude, and perceptions of the grade 12 academic track senior high school students of Valencia National High School towards cryptocurrency. The conduct of the study was started from the month of February 2021. The respondents of this study were the students came from the different strands of the grade 12 academic track senior high school from Valencia National High School. The respondents were chosen using purposive sampling and quota sampling techniques. Thus, the respondents answered a survey questionnaire from [ CITATION Dob19 \l 1033 ] for the close-ended questions and researcher-made questions for the open-ended questions. Moreover, the study delimits on the perception of Grade 12 academic track senior high school students of Valencia National High School on cryptocurrency.

Furthermore, the sampling size and the errors in the measurement are not on the reach of the researchers.

Chapter 2 REVIEW OF RELATED LITERATURE AND CONCEPTUAL FRAMEWORK This chapter of the paper presents the review of related literature, the conceptual framework, the research hypotheses, and the definition of terms. Introduction This chapter presents articles, journals , and literature that support the study entitled Awareness, Attitude, and Perception of the Grade 12 Academic Track SHS Students towards Cryptocurrencies. This chapter is composed of ten sub-topics which are;

Cryptocurrencies,

Cryptocurrencies

Wallets,

Cryptocurrencies Kinds

of

in

the

Philippines,

Cryptocurrecies,

Blockchain,

Awareness,

towards

Cryptocurrencies, Attitude towards Cryptocurrencies, Benefit of Cryptocurrencies, Security of Cryptocurrencies, and Regrets on Cryptocurrencies. The journals, articles, and literature presented have a reliable source, with that, the researcher can guarantee the readers that the statements where reliable. This literature, articles, and journals will surely help the readers to fully understand the study. Cryptocurrencies The global economy is inevitably moving towards a digital eco-system. From investment to money transfer, everything is going paperless. The newest and most promising addition to the digital payment sector is cryptocurrency

[ CITATION The17 \l

1033 ]. Cryptocurrency got its name because it uses encryption to verify transactions. It means advanced coding is involved in storing and transmitting cryptocurrency data

between wallets and to public ledgers. Encryption aims to provide security and safety [ CITATION Fau20 \l 1033 ]. Cryptocurrencies are systems that allow for secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions [ CITATION Fra20 \l 1033 ]. A cryptocurrency is a digital or virtual currency that is intended to be an exchange medium. Except that it has no physical embodiment, it is very similar to real-world money, and it uses cryptography to function [ CITATION Aro21 \l 1033 ]. However, the concept behind the value and security of cryptocurrency is quite abstract and esoteric. Some people are confused about what makes cryptocurrency valuable and what makes it efficient as a means of storing and transferring value. Cryptocurrencies are also sometimes known as “altcoins”, short for alternative coins [ CITATION Cor18 \l 1033 ]. Cryptocurrencies in the Philippines Authorities around the world, particularly in Asia, have attempted to rein in the global boom in trading bitcoin and other cryptocurrencies. Cryptocurrency is a form of digital money created and maintained by its users [ CITATION Mor18 \l 1033 ]. Cryptocurrency exchanges are growing in the Philippines due to growing popular demand and lenience among regulators. The level of awareness on cryptocurrencies in the Philippines was 74 percent among respondents in a survey conducted last February and March [ CITATION Org19 \l 1033 ].

The number of regulated cryptocurrency exchanges in the Philippines has grown to 16, according to Bangko Sentral ng Pilipinas, the country’s central bank. One of the regulated exchanges has been helping the government and Unionbank to launch an app for bond purchases [ CITATION Hel20 \l 1033 ]. Awareness towards Cryptocurrencies Cryptocurrency is attracting increasing attention from consumers, investors, the investment industry, and regulators. Cryptocurrency has great potential to be used for transactions or investments in the future. Awareness of cryptocurrency is geometrically increasing in recent, but in different directions based on the perspective of the users. Many people have become users and investors of cryptocurrencies like Bitcoin and Ethereum, which have opened ways for the creation of small and medium enterprises [ CITATION Zul17 \l 1033 ]. On the other hand, awareness of cryptocurrency among users or participants is still at an infant stage, specifically in developing countries. Some factors like security, lack of adequate knowledge of crypto handling, and government policy have been identified as a hindrance to the adoption of cryptocurrency [ CITATION Gad15 \l 1033 ]. Individual and business crypto-wallet could be stolen through malware attacks on computers or mobile devices using for mining.

Some hackers had discovered a

weakness in the Android application, which could make some crypto-wallets vulnerable to attack [ CITATION Zul17 \l 1033 ]. Attitude towards Cryptocurrencies

Only 1 in 10 people on average, though, actually own any cryptocurrencies. Men are twice as likely to own cryptocurrencies (13%) than women (6%). Men also are more likely to have heard of cryptocurrencies, 77% compared to 55% women [ CITATION Placeholder1 \l 1033

]. The ING International Survey shows that almost 9% of all

respondents own some cryptocurrency. Over 13% do not own but intend to own in the future. About 43% do not own and do not intend to own cryptocurrencies. The remaining 35% have never heard of cryptocurrencies before [ CITATION Pan20 \l 1033 ]. Moreover, 35% of people believe cryptocurrencies such as bitcoin could be the future of online spending, and a similar number (32%) reckon it is the future of investing. But most consider it is a riskier investment than holding cash, gold, and real-estate, government bonds, investing in their own business or the stock market [ CITATION Thi18 \l 1033 ]. Additionally, cryptocurrencies were viewed as a relatively complex investment that requires expert knowledge to invest in. More people would turn to experts or specialist websites than friends or family to develop their understanding if they were interested in potentially investing. And 30% say they would simply not invest[ CITATION Pat19 \l 1033 ] . Different attitudes towards cryptocurrency will depend on multiple factors such as culture, history, uptake of technology, risk attitudes, and media coverage just to name a few. Without strong trends across these variables, it’s the uptake in the future remains unclear [ CITATION Kne20 \l 1033 ]. Blockchain

W.Scott Stornetta and Stuart Haber imagined the technology that people call blockchain today. They initiated working on cryptographically secured blocks in a chain that no one could tamper with timestamps. Since then, developers have started to build a new peer-to-peer currency that does not involve central entities . [ CITATION Tak20 \l 1033 ]. Blockchain is the technology that enables the existence of cryptocurrency. A blockchain is a type of database. A database is a collection of information that is stored electronically on a computer system [ CITATION Con20 \l 1033 ]. A blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using this technology, participants can confirm transactions without a need for a central clearing authority. Potential applications can include fund transfers, settling trades, voting, and many other issues [ CITATION Lik19 \l 1033 ]. Cryptocurrencies Wallet Cryptocurrency wallets can either be a software (apps) or hardware (thumb drive or card) wallets. These wallets act as smaller versions of miners in the sense that they record and verify transactions. They store the value of coins and let the investor know how many coins they have in total [ CITATION Lau21 \l 1033 ]. When depositing bitcoin into the wallet, the wallet verifies that transaction against the mining network's ledgers. It is to let the network know that the coins are now in possession inside the wallet [ CITATION Ros19 \l 1033 ]. Each wallet, both software and hardware, has addresses that resemble hash codes. It is a long string of letters and numbers. When depositing coins into the wallet,

investor use this address to let the network know where to send the coins, and where it will be stored in the meantime [ CITATION Cry17 \l 1033 ]. Kinds of Cryptocurrencies All over the world, there are more than 1600 cryptocurrencies available. And the number is growing every passing day. Some of the different cryptocurrencies are explained as follow; Bitcoin is a digital currency where cryptography rules are used to control and generate the unit of currency. Bitcoin was the first and most valuable among known cryptocurrencies. It is also known as a decentralized digital currency [ CITATION Swa19 \l 1033 ]. Litecoin is also a form of cryptocurrency. This is also known as peer-to-peer cryptocurrency. It is available as an open-source software project. It was released under the MIT/X11 license. In the case of Litecoin, the creation and transfer of coins follow open-source cryptography protocol and algorithm [ CITATION Fer20 \l 1033 ]. Namecoin also falls under cryptocurrency preview and this is an experimental open source where it uses technology which can improve the security, the way decentralization take place and can also control the speed of internet for some of the network infrastructure. It uses key/value pair registration and follows the bitcoin technology for transfer system [ CITATION Kal17 \l 1033 ]. Ripple is well known for digital payment systems rather than for cryptocurrency. Ripple functions on peer to peer decentralize platform and it too uses open source

technology. It allows flawless money transfer independent of the form of currency like bitcoin, litecoin, Yen, and USD[ CITATION Arm15 \l 1033 ]. Ethereum is an open-source software platform that uses blockchain technology. This open-source one can use to build and deploy decentralized applications. Similar to Bitcoin, Ethereum is also distributed to the public to use as a blockchain network. The most important difference between Bitcoin and Ethereum is the way the blockchain application platform is used in both cases. The Bitcoin work for one particular application where peer to peer transaction takes place and only for bitcoins but in case of Ethereum the blockchain technology/platform can be used for any decentralized application [ CITATION Tik18 \l 1033 ]. Benefit of Cryptocurrencies With cryptocurrency, the transaction cost is low to nothing at all, unlike, for example, the fee for transferring money from a digital wallet to a bank account. Users can make transactions at any time of the day or night, and there are no limits on purchases and withdrawals [ CITATION Cor18 \l 1033 ]. And anyone is free to use cryptocurrency, unlike setting up a bank account, which requires documentation and other paperwork. With cryptocurrencies, transactions take only a matter of minutes or even seconds [ CITATION Aro21 \l 1033 ]. Cryptocurrency is fraud-proof. When cryptocurrency is created all confirmed transactions are stored in a public ledger. All identities of coin owners are encrypted to ensure the legitimacy of record keeping. Because the currency is decentralized, you

own it. Neither government nor bank has any control over it [ CITATION Eur202 \l 1033 ]. Moreover, cryptocurrency is an identity theft. The ledger ensures that all transactions between “digital wallets” can calculate an accurate balance. All transactions are checked to make sure that the coins used are owned by the current spender [ CITATION Fin18 \l 1033 ]. Ease of use is the reason why cryptocurrency is in high demand. All you need is a smart device, an internet connection and instantly you become your own bank making payments and money transfers[ CITATION McI18 \l 1033 ]. Cryptocurrency is not just a financial instrum...