The Direction of the Cryptocurrency: Current and Future Perspectives

Authors

  • Qihang Tang

DOI:

https://doi.org/10.54097/xnskz622

Keywords:

Cryptocurrency; blockchain; Bitcoin

Abstract

The development of technology has brought multiple changes in the economy, one of them being how people purchase goods and services. Technology has improved online business and how payments are made through digital means. Initially, people used to make payments using their credit cards, but the invention of digital currency has eased the transaction process. Cryptocurrency has emerged as the newest way for people use to make transactions. The majority prefers cryptocurrency since it is faster and does not require intermediaries like the traditional mode of payment. However, various issues have emerged that may influence its development. Security issues and scamming have become rampant, which has discouraged investors. In addition, cryptocurrency experiences huge volatility, which may discourage people from investing since failure to have previous data may made the investors fail to predict the prices. Fraud and the presence of scammers have discouraged people from investing since they fear losing their fortune from these individuals. The continuous adoption of cryptocurrency has made the organisation invest in cryptocurrency to diversify its portfolio risks.

Downloads

Download data is not yet available.

References

Mallik A, Patel A. Understanding cryptocurrency can be the future of money in Bitcoin using blockchain technology. Wesleyan Journal of Research, 2021, 14(5): 195-206.

Härdle W.K, Harvey C.R, Reule R.C. Understanding cryptocurrencies. Journal of Financial Econometrics, 2020, 18(2): 181-208.

Gupta H, Chaudhary R. An empirical study of volatility in cryptocurrency market. Journal of Risk and Financial Management, 2022, 15(11): 513–544.

Shahzad S.J.H, Bouri E, Roubaud D, Kristoufek L. Safe haven, hedge and diversification for G7 stock markets: Gold versus Bitcoin. Economic Modelling, 2020, 87: 212-224.

Shirakawa J.B.R, Korwatanasakul U. Cryptocurrency regulations: institutions and financial openness. 2019.

Auer R, Claessens S. Regulating cryptocurrencies: assessing market reactions. BIS Quarterly Review September, 2018.

Sun W, Dedahanov A.T, Shin H.Y, Li W.P. Factors affecting institutional investors to add crypto-currency to asset portfolios. The North American Journal of Economics and Finance, 2021, 58.

DeVault Luke, Wang Kainan. Embracing the future or buying into the bubble: do sophisticated institutions invest in crypto assets? Available at SSRN: http://dx.doi.org/10.2139/ssrn.3965717, 2021.

Weichbroth P, Wereszko K, Anacka H, Kowal J. Security of cryptocurrencies: a view on the state-of-the-art research and current developments. Sensors, 2023, 23(6): 3155.

Wang Z. Security and privacy issues within the Cloud Computing. 2011 International Conference on Computational and Information Sciences, 2011, 175-178.

Sapra N, Shaikh I. Impact of Bitcoin mining and crypto market determinants on Bitcoin-based energy consumption. Managerial Finance, 2023, 1-20.

Bublyk Y, Borzenko O, Hlazova A. Cryptocurrency energy consumption: Analysis, global trends and interaction. Environmental Economics, 2023, 14(2): 49-59.

Nadeem M.A, Liu Z, Pitafi A.H, Younis A, Xu Y. Investigating the adoption factors of cryptocurrencies—a case of bitcoin: empirical evidence from China. SAGE Open, 2021, 11(1): 1-15.

Khan D, Jung L.T, Hashmani M.A. Systematic literature review of challenges in blockchain scalability. Applied Sciences, 2021, 11(20): 1-27.

Monte G.D, Pennino D, Pizzonia M. Scaling blockchains without giving up decentralization and security. Proceedings of the 3rd Workshop on Cryptocurrencies and Blockchains for Distributed Systems, 2020, 1-10.

Sagheer N, Khan K.I, Fahd S, Mahmood S, Rashid T, Jamil H. Factors affecting adaptability of cryptocurrency: an application of technology acceptance model. Frontiers in Psychology, 2022, 13: 1-20.

Han H, Lee K.S, Radic A, Ngah A.H, Kim J.J. The extended self-identify- based electric product adoption model and airline business strategy: a new theoretical framework for green technology products. J. Travel Tour. Mark, 2021, 38: 247-262.

Urquhart A. The inefficiency of Bitcoin. Economics Letters, 2016, 148: 80-82.

Fauzi M.A, Paiman N, Othman Z. Bitcoin and cryptocurrency: challenges, opportunities and future works. The Journal of Asian Finance, Economics and Business, 2020, 7(8): 695-704.

Downloads

Published

22-01-2024