The Impact of Cryptocurrency

Hung Vu, Olivier Cruz & Angelo Victor Rieder

Studenteropgave: Fagmodulprojekt

Abstrakt

The path of digital currencies, in particular cryptocurrencies, is both an interesting and rele- vant topic in this technological era, and it seems likely cryptocurrencies will have a significant global impact. In this study we determine how cryptocurrencies, with a focus on Bitcoin, im- pact our current economic environment and our traditional financial system. We create our working dataset in two parts. In the first part we catalogue the fundamental differences be- tween how cryptocurrencies and traditional currencies are used. In the second part we inves- tigate the general perception of cryptocurrencies, as it pertains to governments, companies and the general public. We supplement this information with two qualitative interviews with both a blockchain specialist and an account manager of a trading platform (IQ Option). We analyse our dataset by employing both SWOT and PESTEL analysis as well as monetary theory. We conclude that Bitcoin, with its underlying and fundamental blockchain technology, has started a new internet/financial revolution. Cryptocurrencies, with their decentralized infra- structure, pose an unknown threat to governments and institutions. We find that people gen- erally have a high acceptance towards digital currencies which is accelerating its adoption. We find that an increasing number of companies are accepting bitcoins and have integrated block- chain technology into the structure of their organization. We believe cryptocurrencies are here to stay and that governments are creating a plan of action, and will, perhaps, implement their own digital currency in the near future.

UddannelserVirksomhedsstudier, (Bachelor/kandidatuddannelse) Bachelor
SprogEngelsk
Udgivelsesdato19 dec. 2017
Antal sider74
VejledereNiels Nolsøe Grünbaum