The Evaluation of Cryptocurrency: Overview, Opportunities, and Future Directions

Abstract

Money is a fundamental requirement for every individual to meet their various needs. However, despite the growing popularity of cryptocurrency, there is a lack of literature reviews that comprehensively examine this subject. Cryptocurrency is a blockchain-based technology that operates as a decentralized digital currency. With the advancement of modernization and globalization in the Fourth Industrial Revolution, cryptocurrency has become increasingly popular. Despite its lack of physical form, it functions like traditional currencies and has a volatile exchange rate, making it appealing to traders. Transactions in cryptocurrency take place online directly between individuals without the involvement of intermediaries. However, despite its efficiency and convenience, cryptocurrency has its downsides, including the absence of a responsible authority to address transaction-related issues and the prevalence of money laundering activities. These challenges must be addressed to maximize the potential of cryptocurrency and blockchain technology in today’s globalized world.