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The Impact of Crypto Currencies on the Economy and The Financial Industry
ISSN: 2948 - 4863
Publisher: author
The Impact of Crypto Currencies on the Economy and The Financial Industry
Indexed in
Social Sciences
ARTICLE-FACTOR
1.3
Article Basics Score: 3
Article Transparency Score: 3
Article Operation Score: 3
Article Articles Score: 2
Article Accessibility Score: 2
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International Category Code (ICC):
ICC-0202
Publisher: United Frontiers Publisher
International Journal Address (IAA):
IAA.ZONE/2948382244863
eISSN
:
2948 - 4863
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Abstract
This paper is based on the discussion about the cryptocurrencies and its impact on the financial industry. However, the adoption of cryptocurrencies is a different matter because right now the Bitcoins is considered as for wealthy, developed and tech-savvy cultures. Based on the analysis about the points of differences of the currency a countries profile can be developed who are more likely to adopt the Bitcoin. The cryptocurrencies are considered a potential solution against the accessibility, exchange, fraud, and inflation. Moreover, the prices are considerably increasing because the demand for core good is growing rapidly relative to supply. As per the analysis the fiat currency system is considered as the main reason for the future inflation however it will not cause any significant problem in the overall financial industry. The growing demand for housing is also increasing the price of lumber that also increased in the prices of ...
