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Impact of Cryptocurrencies Effects On The Business Assignment Sample

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Impact of Cryptocurrencies Effects On The Business Assignment Sample


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1. Summary

The Intended topic that is going to the studied is that about “The Impact of Cryptocurrency effect on the business” Cryptocurrency provides several advantages to businesses all around the world. It has made it simpler for enterprises to expand into worldwide markets instead of limiting themselves to the nation's economy. It is necessary to understand cryptocurrency in business because its cryptocurrency is not going away or is limited to hundred years as others might speculate(Feinstein and Werbach, 2021). Bitcoin and Ether are the most talked about and important cryptocurrencies the world is making as the most valued digital currency. It is important in terms of faster transactions, digital security over a worldwide platform, and also its essence overall maintenance of records without risk of the data being pirated. Moreover, the two most important considerable factors are privacy where the technology of that cryptocurrency has been built on the security that can allow the end-users and owners to remain anonymous dung the transaction. Secondly, Digital access would aid the individual who has no access to the traditional bank might enter the financial system with the aid the cryptocurrency and it proudly would care a great future. Further, in commercial, it is a necessity to understand that cryptocurrency may serve as an effective alternative or a balancing asset that might depreciate over time due to a rise in inflation (van der Merwe, 2021). The most valued research approach that would be used is the inductive approach process as it would initiate with a research question and aim at the objective that is need to be achieved during the research process.

Thesis Statement- It is the impact of cryptocurrency in business lies in the digital assessment would involve access to the novel demographical and technological efficiency in managing the treasury.

1.1 Background and Context

The rationale behind the proposed study is that it would intend to study the impact of cryptocurrency in the business is that method of growing demand for cryptocurrencies and blockchain technology is just as crucial as supply constraints. Distributed programs have the potential to be immensely harmful to the whole economy. A network of similar apps is being developed to provide financial services ranging from trading to borrowing to custody. The rationale and context lie for cryptocurrency would fix the issue of traditional currency by putting the power and responsibility towards the currency holders’ hands. Further, the reasons argument to study wither past knowledge and the effect of the 2008 global financial crisis as the way for the people to control their money for themselves that is without having to rely upon the firm, “banks and government and the fees and control”. Previous work would also suggest that by accepting cryptocurrency as the payment method one can minimize the transaction process cost, and protect individual businesses from an excessive chargeback, market expansion, and cater to the preference of the customers. Past research also concludes that Cryptocurrencies are digital financial assets that are owned and transmitted via blockchain cryptography protocols (Giudici, Milne, and Vinogradov, 2020). The expanding market value of cryptocurrencies, as well as their global appeal, provide several concerns and issues for the trade and corporate sectors.

1.2 Problem Statement 

The main underlying problem over the impact of cryptocurrency in business would accommodate is the higher trading feeds, lack of liquidity, support of patrons and lack the crypto pair.

Succinctly the volatility of price, higher energy consumption in mining activities, and use as criminal offenses are also impacting the crypto in business.

1.3 Research Question

  • What is the impact of the Cryptocurrency effect in the context of the business?

2. Literature Review 

Article 1: “Blockchain technologies would impact the business model”

The present focus on cryptocurrencies is mostly on financial goods, with little discussion of non-financial services organizations and how blockchain may affect companies, marketing strategies, and how they earn and distribute wealth. Furthermore, there is a great deal of confusion around blockchain (with a direct object) and blockchain (without the article), shared ledger systems, and their applications. Further, the main approach of this article comprises an explanation of blockchain, including how a blockchain-based system works and a definition of terminologies, as well as an outline of several versions of blockchain technology (Morkunas, Paschen, and Boon, 2019). The study also promised to investigate how various versions of blockchain affect company models. focusing on expanding the well-established corporate strategy framework.

Article 2: “The Effect of Information Asymmetry on Investment Behavior in Cryptocurrency Market”.

Because of the increased interest in bitcoin, much research on the factors driving cryptocurrency price volatility has been performed. Prior study has discovered that official announcements (i.e., public information) concerning cryptocurrencies, in particular, have been observed to influence volatility. Individual investors do not even have equal access to protected information, which is more difficult to observe when compared to common information supplied by the government or companies. However, it will have an impact on the price in any market. As a response, the purpose of this study is to identify asymmetric information within the bitcoin market that is mostly produced by privileged knowledge. Furthermore, this study looked at whether investment mood, which primarily drives the transaction behavior of ignorant traders, affects transaction behavior (Park and Chai, 2020)

Article 3: “Legal Status of Cryptocurrency in Indonesia and Legal Analysis of the Business Activities in Terms of Cryptocurrency”

The latest solutions in the legal policy addressing bitcoin in Indonesia raise the question of whether this new funding market offers a larger risk to Indonesia than how to protect a range of stakeholders via overall structural development. This inclination has prevented the administration from having in place the mechanism of the more fundamental core of policy. Based on the preceding conclusions, this research will first examine the existing rules and regulations. Investigate the current legal position of virtual coins in Southeast Asia using the concept analytical technique evaluation. Notwithstanding the government's doubts about the economy’s health. (Chang, 2019) The cryptocurrency is dominant, but how can the current industry's numerous players be shielded. is each issue that requires a prompt response from politicians, legal practitioners, and many others.

Article 4: “Cryptocurrency: usability perspective versus volatility threat”

This study would considerably hold to get the past insights of the goal to investigate the “nature of cryptocurrencies”, the risks associated with using them owing to their volatile nature, the benefits and drawbacks of using them, and how they function as money. This is a qualitative descriptive analysis done inductively. As an outcome, to obtain reliable results, we reviewed several previously published research publications. This sector relates to your research objectives, and then investigated the nature of Cryptocurrencies, their benefits and downsides, and the “pros, downsides, hazards, and users of bitcoin in Saudi Arabia” (Khan and Hakami, 2021).

Article 5: “Current aspects of the cryptocurrency recognition in Ukraine”

Different deployment techniques, as well as differing perspectives on the essence, assessment, analysis, and control, spurred the need to examine and improve methods of bitcoin identification. Profoundly, a careful analysis of Ukrainian government legislation, as well as the techniques of independent scientists, experts, and worldwide experience, supports the economic core of cryptocurrencies. The legal, financial, and accounting ramifications of cryptocurrency recognition in developed and transitional countries are examined. Customers' informational demands have been addressed by recognizing the features of the techniques used to measure cryptocurrency commodities, as well as the effect of the preferred method solely the fiscal reports (Fomina et al., 2019)

Article 6: “The impact of cryptocurrency on the efficient frontier of emerging markets”

Past research from the cryptocurrency study intends to find that Cryptocurrencies are quickly becoming a hot issue in current investment methods. Because the cryptocurrency business is considered a rising economy, this study creates an emerging economy portfolio by combining indexes from “four European Union (EU) countries and one” currency. The purpose of this study is to look at how including the cryptocurrency bitcoin into a portfolio affects the profitability of portfolios from different countries. Finally, the article develops an optimal approach to determine where Cryptocurrencies lie concerning the stock's other indexes. From July through June 2019, the following countries' “indices were used in the analysis: Croatia, Hungary, Romania, and Poland” (?osi? and ?asni, 2019)

2.1 Research Aim

The aim of this research is to study the impact of Cryptocurrency effect in the business

2.2 Research Objectives

  • How does the impact of Cryptocurrency affect the business?
  • What do the big organizations and mainstream institutions think of cryptocurrency?
  • How is the impact of the Cryptocurrency effect in business is standing during the Covid-19 crisis?

3. Research Methodology

Research Design

The research design of a study serves as a framework for market research methods and tactics. The framework provided by the researchers enables them to apply applicable methodologies for the study as well as efficiently set up their investigations. More especially it would follow the descriptive research design.

Research approach

The research approach would tend to plan and process which consists of the steps of broad assumption to detailed methods of gathering data and interpretation This research approach would mainly study over both qualitative and quantitively

Research methods

The data collection method that is proposed is based on the survey method. The data that is collected from the sorbet can be assessed in numerous different ways. It can be assigned a numerical value to the data to spend up the analysis. It can also be useful for collecting a larger amount of information from larger population data sets. Surveys can be conducted by using forms. More generally written or online forms may be static, and the questions can be presented in an online form which changes accordingly to the response.

Moreover, the use of random sampling, as the name indicates, random sampling is the act of selecting individuals without regard for design or order, analogous to drawing names from a hat. While randomization may appear unscientific, it may be useful and appears to be the optimum method of sampling, because a genuinely random decision excludes factors that may substantially weaken the validity of a survey.

This method of collecting data (Random Sampling) would ensure that outcome is obtained for nth the sample must “be approximate to what would have been obtained” for the total population had been measured. Thus, the must be the simplest sample allows all the units in the population for having an equal chance of being selected.

3.1 Access to Data Sources

The Data should be collected in a private bank and mainstream organization of the employees. However, there is a need for permission before collecting data from the organization's employees. It can be done by formulating a consent before approaching Data about the basic cryptocurrency-related question will be asked and what impact it does it faces in the business.

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