Study: Crypto currencies are well on their way to integration

Retention function, means of exchange and unit of account – these are the three common functions that goods must fulfill to be considered as money. Cryptocurrencies such as bitcoin and ethers already fulfill the function of preserving value, according to a study by Imperial College London on behalf of Etoro.

The central finding of the study: cryptocurrency like Bitcoin are the next logical step in the evolution of money the potential to become the predominant form of payment of the future .

The study finds that William Knottenbelt and Zeynep Gurguc of the Imperial College Business School conclude that cryptocurrencies already fulfill an important feature. It's the function of preserving value

To meet the other two criteria, the researchers added that it's still possible to progress on the issues of scalability, design and

Crypto currency as a means of payment for the future

19659006] In their published article, the two scientists argue in a historical perspective. Although the payment method has always evolved. However, the basic functions have always been preserved. In the development of bartering with electronic payment mussels, however, the money has always changed, despite its consistency, when it was possible to reduce friction in payment transactions. Cryptocurrencies are the next logical step. Dr. Zeynep Gurguc explains:

"The world of cryptocurrencies is evolving as fast as the considerable collection of confusing terminology that accompanies it.These decentralized technologies have the potential to change everything we thought we knew about the nature of the systems. financial […]. "

But there is still a need for progress, particularly in terms of regulation but also technical:

" There is still a lot of skepticism about cryptocurrencies and how they can to become a daily payment system for everyone.In this study we show that cryptocurrencies have already made great strides […] in order to gain widespread acceptance as a means of payment. "

In the # Together, the results of the surveys are less surprising. The fact that the ecosystem around Bitcoin still needs to evolve to become suitable for mbad production is obvious. The fact that an online cryptocurrency broker has commissioned a study on cryptocurrencies and postulated later optimism should not surprise.

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