FUTURE OF CRYPTOCURRENCY AND ITS IMPACT ON FUTURE ECONOMY

M. Vasuki; A. Karunamurthy; T. Amalraj Victoire; N. Praveen Raj

Authors

M. Vasuki Author
A. Karunamurthy Author
T. Amalraj Victoire Author
N. Praveen Raj Author

Keywords:

Crypto currency, Digital, Decentralized, Money, Blockchain, Trust,, Security, Transparency

Abstract

A disruptive force in the fields of technology and finance, cryptocurrency is a digital, decentralized form of money. This abstract examines the core ideas, distinguishing characteristics, and social effects of cryptocurrencies. It use a blockchain, the underlying technology that powers cryptocurrency. It demonstrates how the decentralized and unchangeable characteristics of blockchain enable trust, security, and transparency in financial transactions.
The summary also examines the emergence of stable coins and central bank digital currencies (CBDCs), as well as the potential advantages and implementation difficulties and also explores how cryptocurrencies affect international economic systems. It examines how cryptocurrencies can help people and countries exercise their financial independence, encourage financial inclusion in unbanked areas, and facilitate international transfers of money. It talks on how cryptocurrencies might be incorporated into regular transactions, how decentralized finance is growing, and how non-fungible tokens are becoming new types of digital assets.