The Impacts of Cryptocurrencies on The Global Financial System

Abstract

Cryptocurrency has become more popular in the awareness of individuals, corporations, and financial institutions. The thesis will examine the acceptance of the cryptocurrency market by stakeholders in the economy. The thesis will also discuss the impacts of the cryptocurrency market on the global financial system by analyzing some countries’ perceptions, contributing to the evidence that the cryptocurrency market trend is growing. Published papers, cryptocurrency documents, and government reports will be the main sources. Qualitative and quantitative methods will be included in the thesis in order to increase the thesis’s points. By using the analysis and synthesis method, the thesis will provide a detailed and more comprehensive view of the cryptocurrency market. The history of currencies and forms of payment will also be discussed in order to show the opportunities of cryptocurrencies. A more realistic view of cryptocurrencies’ current trend will result, so stakeholders can take appropriate actions and approaches when participating in the market.