Critical Evaluation of OneCoin Cryptocurrency in UK Economy

This project delves into the analysis of cryptocurrency, specifically focusing on OneCoin and its effects on the UK economy. The study begins with an abstract and acknowledgment, followed by a detailed table of contents outlining the structure. Chapter 1 introduces the background, research aims, objectives, questions, and hypotheses, establishing the rationale and structure of the investigation. Chapter 2 reviews relevant literature, while Chapter 3 outlines the research methodology, including the research onion, philosophy, approach, design, data collection, sampling, and ethical considerations. Chapter 4 presents the empirical results, encompassing descriptive and inferential analyses. Chapter 5 offers an in-depth analysis and discussion of the findings. Chapter 6 provides recommendations and conclusions, addressing limitations and future consequences. The assignment also includes a comprehensive reference list and appendices. The project aims to critically evaluate the effectiveness of OneCoin cryptocurrency as a virtual currency and its influence on the growth of the British economy, addressing the cryptocurrency's role, potential benefits, and challenges within the UK's financial landscape. The project also highlights the significance of regulations and investment in the cryptocurrency market.

Running head: Cryptocurrency
Cryptocurrency
Name of the student
Student ID:
Course Id:
Name of University

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Abstract
The whole study has determined the pros and cons of the cryptocurrency in the UK
economy. This is important in the sense that it will be developing the idea of better
development of the business through which the study has been successfully identified the
development of the business. On the other hand, it will be important in the sense that through
the innovation in the financial monitoring it will be much easier for the stakeholders to
increase the level of investment using crypto currency.

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Acknowledgement
I truly admire the help and support of my friends and teachers those who have helped me in
developing the study and collecting the data. I truly thank to all the respondents including
both qualitative and quantitative study and their participation has helped me in the
development of the whole study.

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Table of Contents
Chapter 1: Introduction..............................................................................................................7
Background of the study........................................................................................................7
Research aims and objectives.................................................................................................7
Aims of the study...................................................................................................................7
Objectives of the study...........................................................................................................8
Research questions.................................................................................................................8
Problem statements................................................................................................................8
Rationale of the study.............................................................................................................9
Research hypothesis...............................................................................................................9
Structure of the study...........................................................................................................10
Figure 1: Structure of the study........................................................................................10
Chapter 2: Literature Review...................................................................................................10
Introduction..........................................................................................................................10
Conceptual framework.........................................................................................................10
Summary of the chapter.......................................................................................................10
Chapter 3: Research Methodology...........................................................................................11
Introduction..........................................................................................................................11
Method outline.....................................................................................................................11
Research onion.....................................................................................................................12

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Figure 2: Research Onion.................................................................................................12
Research philosophy............................................................................................................12
Research approach...............................................................................................................13
Figure 3: Descriptive research approach..........................................................................14
Figure 4: Inductive research design.................................................................................14
Research design....................................................................................................................15
Data collection process........................................................................................................15
Sampling method.................................................................................................................15
Sample size...........................................................................................................................16
Analytical model..................................................................................................................16
Ethical consideration............................................................................................................17
Limitations of the study.......................................................................................................17
Summary of chapter.............................................................................................................17
Chapter 4: Results....................................................................................................................18
Introduction..........................................................................................................................18
Empirical results...................................................................................................................18
Descriptive study..................................................................................................................23
Inferential study...................................................................................................................24
Figure 5: Age of the respondents.....................................................................................24
Figure 6: Are you aware of cryptocurrency.....................................................................25
Summary..............................................................................................................................25

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Chapter 5: Analysis..................................................................................................................26
Introduction..........................................................................................................................26
Discussion............................................................................................................................26
Summary..............................................................................................................................27
Chapter 6: Recommendation and Conclusion..........................................................................28
Conclusion............................................................................................................................28
Linking with objectives........................................................................................................28
Recommendations................................................................................................................28
Limitations of the study.......................................................................................................28
Future consequences............................................................................................................28
Reference list............................................................................................................................29
Appendix..................................................................................................................................30

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Chapter 1: Introduction
Background of the study
The study will be showing the appetite of the people living in the United Kingdom for
the development and circulation of cryptocurrency in the country. Through the development
of this study, the United Kingdom government will be looking for the development of strong
regulations that will be helping in the development of cryptocurrency. The study will be
important to underline the development of the cryptocurrency business that will easily
identify the development of cryptocurrency in the business as after the BREXIT took place
the security over the currency has decreased by huge margin and that has increased the
volatility in the financial market.
Research aims and objectives
The main aims of the study is to highlight the development of the business in the
cryptocurrency as the study will be highlighting the factors that will be most helpful for the
development of huge circulation of cryptocurrency and one coins. The aims of the study is to
highlight both the positive and negative aspects of the cryptocurrency and will identify the
factors that is negatively affecting the share market due to the emergence of the
cryptocurrency from the market. The objectives of study is to highlight the process that will
be optimising the development of the cryptocurrency that is actually affecting the economy.
Aims of the study
 To identify both the positive and negative effects of the cryptocurrency that it is
happening within the economy of UK.
 To minimise the negative impacts of the cryptocurrency that can improve the future
business in the economy.

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 To identify the future scope of the business in the UK environment that will increase
the use of the crypto currencies that will not only increase the development of the
whole economy but will also indulge in better development of the business.
Objectives of the study
 The objective of the study is to increase the use of the cryptocurrency in order to
increase the safety of the currencies that will be used in the financial market.
 To analyse the pros and cons of using one coins as one of the cryptocurrency and
using them in other purpose of the business.
 To identify the areas of the cryptocurrency that will require proper level of the
observation from the government and other financial security team.
Research questions
What are procedure to increase the security of the one coins and other crypto
currencies?
What are the future prospects of the one coin industry in the developed economy like
UK?
What influences does One Coin cryptocurrency have to sustain the growth of British
economy?
How secured One Coin cryptocurrency is as a virtual currency in a digital
technology?
Problem statements
Currently the UK market is facing lots of security issues regarding the one coins and
other cryptocurrency. It has been seen that in UK, currently the economy is facing lots of

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regulation issues that is making the cryptocurrency more volatile in nature. The price of
cryptocurrency was about $6472 in November 2017 and it increased to about $17629 in
December 2017. However, the price of the cryptocurrency fell by huge margin and the
number stood to about $7208 in February 2018. The problem statement lies in the formation
of more strong regulations that will enable the crypto currencies to perform in a better and
economic way. On the other hand, the study will be looking into the development of better
and strong regulations that will increase the investment in the economy. The problem of the
statement is that in the market of the cryptocurrency, the development of competition is
increasing in the form of one coin and one coin. The major problem is that in spite of getting
so much of popularity after its launch in the year of 2009, the government of UK was not
showing any kind of strong interest to regulate the market of cryptocurrency.
Rationale of the study
The rationale of the study is to highlight the development of regulations that will not
only increase the level of investments in the economy of the United Kingdom but will also
identify the development of financial market of the UK. The study will determine the
development of better innovations in the technologies and strategies of the government that
are required to increase the efficiency of the cryptocurrency in the UK and other developed
economies. The study is rational in the sense that it will require development in the
regulations that will increase the investment in the economy through the cryptocurrency
market. Most of the studies have confirmed that UK needs to take actions immediately that
will not only help in the development of the business in the economy but will also allow the
circulation of the money taking advanced level of currencies through advanced level of
financial security. The rationality of the study lies in the development of better accessibility
of the government to increase the security.

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Research hypothesis
In order to reach the research aims and objectives it is important to determine the
research hypothesis that will help in rejecting null or alternative hypothesis so that the study
will be able to identify the development of the cryptocurrency. The following hypothesis that
will be able to increase the development of the business and in the economy of UK, the
regulation is important.
H0: The use of Cryptocurrency is beneficial for the economy of UK
H1: The use of Cryptocurrency is not beneficial for the economy of UK
The second set of research hypothesis that can be defined in terms of study is that as
followed.
H0: The use of the cryptocurrency is lacking some of the initiates that are needed to be taken
by government.
H1: No the current regulation is absolutely fine for the development and circulation of
cryptocurrency.
Structure of the study
Figure 1: Structure of the study
(Source: Created by Author)
Chapter 1:
introduction
Chapter 2:
Literature Review
Chapter 3:
methodology
Chapter 4: Results Chapter 5:
Discussion
Chapter 6:
Conclusion and
Recommendation

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Chapter 2: Literature Review
Introduction
This chapter will be mainly identify various literature works that has been helpful for
the development of better understanding of the concept of cryptocurrency that will bring
effective changes in the development of the cryptocurrency.
Conceptual framework

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Chapter 3: Research Methodology
Introduction
This chapter will be determining the development of methodology that will be taking
into account, the method of developing the study. This chapter will mainly identify the
development of the method outline that has done the development of the process of methods.
This will identify various process of the sample collection that will be increasing the
efficiency of the method. The research onion will be helpful for the development of structures
that will increase the development of process. Through the study of the research philosophy,
it will be helpful for the study to identify the development of cryptocurrency. Through the
establishment of the research design, it will be easy for the development of process that will
understand whether the study will be taking descriptive or explanatory methods of data
collection. This chapter is significant in the sense that it will identify the development of
better and effective process of method designs.
Method outline
The method outline will be aiming in order to increase the development of the
business and will be looking forward to increase the resource utilisation. The method outline
will be aiming to increase the resource utilisation that will enable the study to increase the
development of study and in order to indulge the descriptive and deductive method of data
collection. Introduction of positivism and interpretivism method of data collection will be
enabling the development of the business in an effective way (Antwi and Hamza, 2015). This
section will be highlighting the incorporation of better approach and this study will be taking
the positivism method of data collection. This is important in the sense that it will definitely
increase the development of the business.