Crypto Currency as an Integral Part of Financial Landscape

CRYPTOCURRENCY WILL BECOME AS AN INTEGRAL PART OF THE
FINANCIAL LANDSCAPE
A crypto currency has been defined as a digital asset which has been designed to perform as way
of currency exchange. Crypto currency is that form of virtual currency which utilizes the control
in decentralized form so as to confront the centralized electronic system of money exchange or
the system of having the central banking. The decentralized control of each crypto currency uses
a block chain technology in the manner that the transaction saves in the database on continuous
basis. (Cermeño, 2016).
Nowadays crypto currencies are gaining the popularity for not only in the domestic industry but
also for making the payments internationally across the globe. Fast, secure, low cost and
authenticated international payment system motivates corporate houses as well as individuals
across the globe to keep in view the uses and benefits of the crypto currency settlement system.
In the current scenario, the most famous and prevalent crypto currency is bitcoin. Its main
competitors are lit coin, ethereal and ripple (Salviotti, 2018).
By having the bit coin as the currency, the settlement system has almost changed. It is because
now the individuals will not be required to carry the multiple currency accounts rather they will
make the payments across the globe just like the central banking system and which results in the
easy settlement of the transactions without any basic hurdles. There will be the reduction in risk
of having the credit based business as all the transactions will be settled within that time only and
there will neither be delay in any means.
In the current scenario, bit coin has gained the so much popularity that everyone wants to deal
into this currency as it has removed the hurdles in settling the transaction and because of which
the bit coin is at the peak in the world of finance and banking and accordingly the investors have
started purchasing these bit coins from the financial market in order to have the financial gains in
the future (Nguyen, 2016).
The settlement though very easy but it can only be done in the larger transactions and not in the
smaller transactions. It is because of the fact that the bit coins are being exchanged in lieu of the