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Research Article | Open Access
Volume 13 2021 | None
The Future of Cryptocurrency in Global Commerce: Opportunities and Challenges
H Lakshmipathi
Pages: 3580-3586
Abstract
The advent of cryptocurrency has revolutionized the global financial landscape, offering a decentralized and secure method of conducting transactions. This study explores the future of cryptocurrency in global commerce, focusing on the opportunities and challenges it presents. The research examines the potential benefits of cryptocurrency, such as enhanced transaction speed, reduced costs, and increased financial inclusion. Additionally, it delves into the technological advancements, including blockchain, that underpin cryptocurrencies and their implications for international trade and finance. However, the study also addresses significant challenges that hinder widespread adoption. These include regulatory uncertainties, security concerns, market volatility, and the environmental impact of cryptocurrency mining. By analyzing current trends, case studies, and expert opinions, this paper provides a comprehensive overview of how cryptocurrencies could reshape global commerce. It also offers insights into the necessary regulatory frameworks and technological innovations required to overcome existing barriers. Ultimately, this research aims to contribute to the understanding of cryptocurrency's potential to transform global commerce, providing a balanced perspective on its future trajectory. The findings suggest that while cryptocurrencies hold substantial promise, their integration into mainstream commerce will depend on addressing key challenges and fostering an environment conducive to innovation and regulation.
Keywords
The advent of cryptocurrency has revolutionized the global financial landscape, offering a decentralized and secure method of conducting transactions.
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