The purpose of this study was to analyze and understand the attitude of the millennial generation towards cryptocurrency. This topic of Cryptocurrency is in the growth stage and hence the understanding of the attitude of this generation shall be an addition to the current study available on cryptocurrencies. This dissertation will be beneficial to the upcoming or existing companies or offerers of cryptocurrency to estimate their future viability based on the millennial generation’s attitude. \nThe results were formed based on the data collected through interviews of eight millennials from different professional background but having awareness about cryptocurrency. The questionnaire was formed to collect data about knowledge, experience, trust, and other investment factors of the millennials towards cryptocurrency. The research aimed to analyze the data collected and conclude the overall attitude of millennial generation towards cryptocurrency. \nThis report focuses on the numerous factors and challenges that go into the decision-making process of the typical millennial investors. We can conclude that the millennials have positively accepted the concept of cryptocurrency but are doubtful when it comes to actual trading since they lack proper awareness and skills to do. But the experienced millennials have accepted it as a useful financial asset after. Thereby, the overall study on Cryptocurrency would help one to understand the merits and demerits of it in the present world along with the logical reasoning that has given a direction to the findings.
The rise of cryptocurrency as a new sui generis asset class creates a need for a new classification scheme to cover the wide range of functionality for which tokens can be used. By differentiating tokens based on their functional attributes, cryptocurrency tokens can be categorised into crypto-transaction tokens (which act as a cash substitute); crypto-fuel tokens (which underpin generic blockchain applications); and crypto-voucher tokens (which can be exchanged for a predefined asset). This classification is applied to identify important issues when considering whether to participate in a cryptocurrency system, such as the impact of potential forks, token supply expectations and the level of dependence on a few operators (entity-dependence). For crypto-transaction tokens (and crypto-fuel tokens if used in a similar or overlapping role) it shows the importance of the token being seen as a “better” form of money. For crypto-fuel tokens, the popularity of blockchain applications and the utility of the crypto-fuel system in application development is vital. For crypto-voucher tokens, the value of the underlying asset, the token’s exchangeability for that asset and the importance of a digital representation should be considered by participants. The interplay between fundamentals and speculation as drivers of price is considered.An erratum to this article has been published at as DOI: https://doi.org/10.5195/ledger.2018.151.