Cryptocurrency: the good, the bad and the ugly

Abstract

Cryptocurrency is the technological development of currency into the digital form which is considered for sustainable development. There are large numbers of investors, who have started investing on cryptocurrency and it is the emerging financial market across the globe. But the cryptocurrency poses various threats to the investor safety and security and it is hazardous to the environmental condition. There is still no consensus on cryptocurrency whether it is a better option to invest or not. Hence this studies to shed light on to the path of investment opinion about cryptocurrency. This paper will give the perspective of the current trends in the crypto market. This concept will be discussed through three steps: the good cryptocurrency and how the financial market has evolved into the digital technology and secondly now it could emerge as a sustainable development in the field of finance. Hence the technology encourages the development of investor and green cryptocurrency. There are various individual issues, related to bad cryptocurrency like money laundering, scam, crypto whale and viruses. Finally, the ugly cryptocurrency in the financial sector affects the environmental condition and how it could affect the ecosystem of the planet due to crypto mining. This study suggested the token offering organization to adopt the proof-of-authority process than the proof-of-work, to avoid carbon emission and more volume of energy consumption. This study also suggests the investor to invest on the green cryptocurrency than the hazardous cryptocurrency (bitcoin), which affects the environmental condition.