Explain the background to digital or cryptocurrencies

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Reference no: EM132100418

Assessment - Report requirements

Background to cryptocurrencies

Investigate and explain the background to digital or cryptocurrencies and provide an analysis and comparison of the five largest crypto currencies by market capitalisation currently on the market?

Explain how and why there were created and how they work, their advantages/disadvantages, price drivers - economic, technical, transaction and law of one price.

In the process, evaluate whether cryptocurrencies fulfil the functions of money, now, in the future?

Globalization removes barriers to international finance, is the adoption of widespread cryptocurrency use one of the final frontiers and how likely is a cryptocurrency to be adopted into international finance markets?

Do you consider cryptocurrencies, for example, Bitcoin, to be a global currency? How likely are they to replace multiple currencies for future trading?

References
You must correctly use the Harvard style of referencing in any written elements of this assessment.

Use any current news articles, professional and academic journal -The Age, The Australian Financial Review, The Economist, Professional Journals; Academic Journals (Finance or Economics); News outlets: Bloomberg; BBC; CNN

Verified Expert

In this section, an overview on the crypotocurrencies with the comparison of five largest cryptocurrencies (Bitcoin, Ripple, Litecoin, Bitcoin Cash) have been shown. in fact, in this section, a critical evaluation of these cryptocurrencies have been incorporated. In this section, Functions, price drivers, advantage and disadvantage and its formation history have been provided. However, the way cryptocurrencies have performed in the platform of technology is also indulged in this section. the way it replaces multiple currencies like Dollar for trading in future is indulged. this currency is distorting the financial system as it has lots of advantages on the conventional currency like Dollar. On the basis of this, it can be said that it can be replace the multiple currencies for trading in future with the high benefits.

Reference no: EM132100418

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