CRYPTOCURRENCIES AND CHALLENGES OF THE USE OF CRYPTOCURRENCY IN MODERN FINANCE
CRYPTOCURRENCIES AND CHALLENGES OF THE USE OF CRYPTOCURRENCY IN MODERN FINANCE

Summary/Abstract: The paper examines the role of cryptocurrencies in modern finance. A literature review method is applied to synthesize previous research and gain insight into the opportunities and challenges of using cryptocurrencies. The results show that cryptocurrencies offer institutional investors and individuals lower transaction costs, greater privacy, significant diversification benefits and alternative financing solutions. Research shows that there are challenges associated with integrating cryptocurrencies into modern finance. These include the lack of regulatory standards, the risk of criminal activity, high energy and environmental costs, regulatory prohibitions and restrictions on use, security and privacy concerns, and the high volatility of cryptocurrencies. The aim of the work is to fill that gap and to provide useful information for the academic and professional public. To answer the research question, a literature review was conducted using various academic databases, such as Google Scholar, Scopus, Web of Science, and Springer Link. The research highlights the similarities and differences of the conclusions and results reached by different authors. The paper provides useful information for the academic and professional public, including those who wish to have an understanding of these new financial instruments. The research question is “What are the opportunities and challenges of cryptocurrencies in modern finance?”

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