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Crypto currency:

An evaluation of future and growth of Crypto currency. Will it replace the

flat currency?

It is advanced cash wherein code dependent on cryptography controls the age of units of money

and confirmation of exchanges for the exchange of assets. Cryptocurrency money isn't sponsored

by an administration or a national bank of any nation. The record-keeping is done appropriately.

Consider it a dispersed record one wherein you cannot modify the request for exchanges. So, you

can consider it an individual’s cash. A famous quote related to crypto is that “Money created by

the masses for the masses and controlled by the masses”. There are many types of

cryptocurrency such as bitcoin, and Altcoins.

Research Questions

1. What is expected in the Future; Growth or Decline of

Cryptocurrency?

2. How does cryptocurrency work and how is it replacing FLAT

currency?

Literature Review:

To store your cash (Flat currency), you need to pay charges to banks and there are a ton of issues

for moving cash across borders. Cryptocurrencies fill a large portion of these holes. It is

circulated online which is an incredible benefit, as we do not have to confide in any outsider. All
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gratitude to blockchains we can utilize this type of cash called digital forms of money. It has

been understood by several articles on cryptocurrency that Blockchain is the innovation behind

cryptocurrencies. To be reasonable cryptocurrencies are one of the utilization instances of

blockchain (Young, 2019). Blockchain is an irreversible (chain of request), ethical, and conveyed

record of exchanges. Honest records structure the premise of numerous important exchanges.

They may be in the field of money, record-keeping in governments, worldwide discretion, or any

record-keeping of significance so far as that is concerned. Different types of cryptocurrencies

mentioned in the literature are bitcoins and Altcoins. Bitcoin is a type of modernized invention of

the money and there is no physical existence of the bitcoins, so it is a very rare type of money

and you have only a type of record that you have following numbers of the bitcoins (Pasquale, et

al., 2017). On the other hand, all cryptocurrencies other than Bitcoin are called Altcoins. Starting

today, more than 5000 of these "elective" monetary standards have been made around the world

(Pavel & Rajcaniova, 2018). A large portion of the Altcoins depend on Bitcoin, and their

fundamental capacities are something very similar. Eg: Ethereum.

Growth of CryptoCurrency

The growth and fate of cryptocurrency are brilliant as a lot of advancements have prompted the

development of the digital currency industry. It is growing fast, and people are excepting it. A

portion of the features are large banks, organizations, and institutional financial backers, for

example, JP Morgan, MicroStrategy, Tesla, and PayPal have entered the space. There are more

than 9,000 digital currencies in presence today. The digital money market cap crossed the $2

trillion imprint.

Arising cryptographic money guidelines by governments across the world, formalizing the

business, bringing down chances related to crypto ventures. The rise of National Bank
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Computerized Money (CBDC). Bitcoin being contrasted with gold as a store of significant

worth.

Reason to selection of topic

The history of bitcoins is that it was invented by Satoshi Nakamoto and created the first bitcoin

the major reason was in the invention of currency was to get rid of the poverty from this world

and initially, it was not noticed by anyone and in recent times it has reached its highest value of

50k USD and in the starting, it was not as high as now today major organizations like Space X

and other firms are investing in it. So, the question arises here what the future of CryptoCurrency

is and will its growth in the coming years or not. Replacing the traditional flat currency seems

impossible but this research topic will analyze the future possibilities.

Data collection

The work of others and researchers have done in the last few years would be analyzed critically

to understand how cryptocurrency works. How is it emerging and if it is replacing Flat currency

or not? Different research, articles, and research papers will be studied as general public or

survey would not help in this technical topic. Critical analysis on previous research and stance of

experts would be studied to present findings.

Data Analysis

Time series analysis method will be used to reach a conclusion. In time series method analysts

can estimate how the variable of interest that in our reach is growth of cryptocurrency will

change in the future by looking at time-related patterns. It is why this method is selected.
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Expected Contributions to the existing literature

Many writers have tried to observe the behavior of people and the growth of cryptocurrency but

failed to explain if the future of Cryptocurrency is bright or not. It would be hard for people to

trust this currency as it is intangible. The future is highly unpredictable but through this research,

we will see if cryptocurrency lasts and what changes it will bring in the future.

References

Pasquale, G., Tarabella, A. & Tricase, C., 2017. Current trends in sustainability of bitcoins and

related blockchain technology. Sustainability, 12(9), p. 2214.

Pavel, C. & Rajcaniova, M., 2018. Virtual relationships: Short-and long-run evidence from

BitCoin and altcoin markets. Journal of International Financial Markets, Institutions and

Money, 4(52), pp. 173-195.

Young, L. J., 2019. A decentralized token economy: How blockchain and cryptocurrency can

revolutionize business. Business Horizons, 6(62), pp. 773-784.