Global Public Sentiment on Decentralized Finance: A Spatiotemporal Analysis of Geo-tagged Tweets from 150 Countries
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arXiv
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| Autores principales: | , , , , , , , |
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| Formato: | Preprint |
| Publicado: |
2024
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| _version_ | 1866912216057380864 |
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| author | Chen, Yuqi Li, Yifan Zhou, Kyrie Zhixuan Fu, Xiaokang Liu, Lingbo Bao, Shuming Sui, Daniel Zhang, Luyao |
| author_facet | Chen, Yuqi Li, Yifan Zhou, Kyrie Zhixuan Fu, Xiaokang Liu, Lingbo Bao, Shuming Sui, Daniel Zhang, Luyao |
| contents | Blockchain technology and decentralized finance (DeFi) are reshaping global financial systems. Despite their impact, the spatial distribution of public sentiment and its economic and geopolitical determinants are often overlooked. This study analyzes over 150 million geo-tagged, DeFi-related tweets from 2012 to 2022, sourced from a larger dataset of 7.4 billion tweets. Using sentiment scores from a BERT-based multilingual classification model, we integrated these tweets with economic and geopolitical data to create a multimodal dataset. Employing techniques like sentiment analysis, spatial econometrics, clustering, and topic modeling, we uncovered significant global variations in DeFi engagement and sentiment. Our findings indicate that economic development significantly influences DeFi engagement, particularly after 2015. Geographically weighted regression analysis revealed GDP per capita as a key predictor of DeFi tweet proportions, with its impact growing following major increases in cryptocurrency values such as bitcoin. While wealthier nations are more actively engaged in DeFi discourse, the lowest-income countries often discuss DeFi in terms of financial security and sudden wealth. Conversely, middle-income countries relate DeFi to social and religious themes, whereas high-income countries view it mainly as a speculative instrument or entertainment. This research advances interdisciplinary studies in computational social science and finance and supports open science by making our dataset and code available on GitHub, and providing a non-code workflow on the KNIME platform. These contributions enable a broad range of scholars to explore DeFi adoption and sentiment, aiding policymakers, regulators, and developers in promoting financial inclusion and responsible DeFi engagement globally. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2409_00843 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Global Public Sentiment on Decentralized Finance: A Spatiotemporal Analysis of Geo-tagged Tweets from 150 Countries Chen, Yuqi Li, Yifan Zhou, Kyrie Zhixuan Fu, Xiaokang Liu, Lingbo Bao, Shuming Sui, Daniel Zhang, Luyao General Economics Economics Computational Engineering, Finance, and Science Computers and Society Computational Finance Machine Learning Blockchain technology and decentralized finance (DeFi) are reshaping global financial systems. Despite their impact, the spatial distribution of public sentiment and its economic and geopolitical determinants are often overlooked. This study analyzes over 150 million geo-tagged, DeFi-related tweets from 2012 to 2022, sourced from a larger dataset of 7.4 billion tweets. Using sentiment scores from a BERT-based multilingual classification model, we integrated these tweets with economic and geopolitical data to create a multimodal dataset. Employing techniques like sentiment analysis, spatial econometrics, clustering, and topic modeling, we uncovered significant global variations in DeFi engagement and sentiment. Our findings indicate that economic development significantly influences DeFi engagement, particularly after 2015. Geographically weighted regression analysis revealed GDP per capita as a key predictor of DeFi tweet proportions, with its impact growing following major increases in cryptocurrency values such as bitcoin. While wealthier nations are more actively engaged in DeFi discourse, the lowest-income countries often discuss DeFi in terms of financial security and sudden wealth. Conversely, middle-income countries relate DeFi to social and religious themes, whereas high-income countries view it mainly as a speculative instrument or entertainment. This research advances interdisciplinary studies in computational social science and finance and supports open science by making our dataset and code available on GitHub, and providing a non-code workflow on the KNIME platform. These contributions enable a broad range of scholars to explore DeFi adoption and sentiment, aiding policymakers, regulators, and developers in promoting financial inclusion and responsible DeFi engagement globally. |
| title | Global Public Sentiment on Decentralized Finance: A Spatiotemporal Analysis of Geo-tagged Tweets from 150 Countries |
| topic | General Economics Economics Computational Engineering, Finance, and Science Computers and Society Computational Finance Machine Learning |
| url | https://arxiv.org/abs/2409.00843 |