The path towards virtual currency: Demystifying cryptocurrency

Abstract

The advancement of information technologies in recent decades has resulted in significant changes all across the globe. Even small businesses have been greatly impacted by the digital environment, which has necessitated changes in order to adapt to the current investment market dynamics. The rapid growth and increasing applications of Information and Communications Technology (ICT) is the main factor that drives cryptocurrency to be considered as a potential asset in investment portfolios. The purpose of the paper is to explain the meaning of cryptocurrency with rules and regulations as well as how blockchain works. Recent developments of cryptocurrency from Google trends, prices and market capitalization are presented. Authors also strive to filter the benefits, downsides, and SWOT analysis from previous studies and various web sources. The paper concludes that despite the challenges, cryptocurrency can be used for revolutionary financial transactions.