CRYPTOCURRENCY EXPANSION AND DEVELOPMENT: A COMPETITIVE MODERN BANKING INVESTMENT AND PAYMENT OPTION

Abstract

Since the emergence of cryptocurrencies, their adoption by the population is increasing, that said, the appreciation of this product is more important in developed countries than in developing countries and even less, if at all, in underdeveloped countries. The degree of appreciation varies from the population to the authorities; each government treats it differently from the others. Cryptocurrency can be seen as an innovative, secure and spreading means of payment that impacts the economy and the social life of individuals. However, our research raises several questions about the development and emergence of cryptocurrencies, including the identification of the impact of cryptocurrency as a payment option on the economy and the banking sector. This article analyses the inclusion of cryptocurrencies in the global economy and its effect on payment issues for banks. To do this, we analyze the speed of development of cryptocurrencies and compare its use to traditional means of payment based mainly on statistics, reports of banks and financial institutions, Research results from renowned research centres. We are therefore expecting results in this direction