Cryptocurrency Adoption and Its Implications: A Literature Review

Abstract

Cryptocurrencies have emerged as a disruptive technology with the potential to revolutionize the financial landscape. This research paper aims to explore the topic of cryptocurrency adoption and its implications from multiple perspectives. This research paper is based on secondary data collected by researchers from various sources and papers reviewed by the researcher. It was clear from the secondary data that the cryptocurrency landscape continues to mature and overcome the challenges it faces, and the potential for Bitcoin and other digital assets to transform the global financial system and revolutionize the way we conduct transactions, store value, and access financial services seems increasingly likely. A cryptocurrency-based ecosystem can provide opportunities for new market entrants and support startups by facilitating the process of fundraising. For instance, initial coin offerings enable entrepreneurs and investors to finance new projects without the recourse to intermediaries and endorsements of traditional investors and financial bodies. Cryptocurrency is a constant evolution driven by a diverse and passionate community of developers, entrepreneurs, investors, and users. The future of money is being reimagined, and cryptocurrencies such as Bitcoin are at the forefront of this exciting transformation.