Can Cryptocurrency Actually Have the Capacity to Demonetise the World?

Can cryptocurrency actually have
the capacity to demonetise the
world

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
A cryptocurrency is explained as a form of digital medium of exchange related with
monetary transactions and this is secured by cryptography. Many cryptocurrencies are based on
block-chain technology due to which decentralised network is engaged in exchange of money.
The defining feature related with cryptocurrencies is that this is not issued by central authority
and it renders or free them from government interference (Cheng and Yen, 2020). Furthermore,
this report highlights on the capabilities, challenges and importance of Cryptocurrency for
identify and analyse their capacity to demonetise the world.
MAIN BODY
BITCOIN is the first and foremost original cryptocurrency that was launched in the year
2009. In the present scenario, there are thousand of cryptocurrencies such as ethereum, Doge,
WRX, etc. are trading in market and approximately the value of current digital form of
cryptocurrencies is more than $2 trillion. The current cryptocurrencies is considered as a massive
speculative bubble that is not based on actual factors and due to this it create challenges for
investors to transform the nature of money. This determines that the current market such as
equity, debenture and LSE (London stock exchange) is based on various factors that are known
as fundamentals of currency like, GDP, industry size, demand of products and many more.
In context of cryptocurrency, this is also known as a form of money which is based on the
block-chain and scratch. Internal Review Service considers cryptocurrencies as a form of
financial asset. One of the most important factor related with business, individual or NGO is to
gather monetary resources such as currency in the form of pound, dollars, etc. Furthermore, this