GSBS6144 T1 assignment

GSBS6144 T1 assignment 1 Topic Recent years have seen rapid development in crypto currencies, including Bitcoin andEthereum. The effect of crypto currencies on banking business is challenging. Some see thesecurrencies as a new, overdue form of currency. However, some argue that crypto currencieshave major shortcomings, as they lack regulation, low transaction cost and generalacceptance as a medium of payment. In this assignment, you are required to prepare a reportto discuss the following issues surrounding crypto currencies: 1. Describe the crypto currencies and their market. Outline the creation process of cryptocurrencies and contrast its main features with traditional currencies. Disc...Show More

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1.0. Introduction In the current years of the recent past, there has been very fast growth and expansion of thecrypto currencies, consisting of Ethereum and Bitcoin. The impact of the crypto currencies onbusiness of banking and the financial institutions is quite difficult. A number of experts in themarket view these currencies as a fresh, overdue type of currency. Again, on the other hand, anumber of analysts in the market are of the opinion that crypto currencies have hugelimitations, for the reason that they are deficient in general acceptance, low transaction costand regulation as a standard of payment.