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Cryptocurrencies and Their Impact on Financial Systems

In: Proceedings of the 2024 2nd International Conference on Digital Economy and Management Science (CDEMS 2024)

Author

Listed:
  • Xinren Mao

    (Dunpu Culture Development Foundation)

Abstract

Cryptocurrencies have emerged as a novel force in the financial landscape, challenging traditional systems with their decentralized nature and blockchain technology. This essay explores the dynamic landscape of cryptocurrencies and anticipates their future implications on financial systems. It further delves into both the potential benefits and risks associated with cryptocurrencies, including financial inclusion, improved efficiency and transparency, alongside concerns regarding volatility, security risks, and potential misuse for illicit activities. By examining these various dimensions, the paper aims to provide a comprehensive understanding of the multifaceted future of cryptocurrencies and their intricate influence on financial systems.

Suggested Citation

  • Xinren Mao, 2024. "Cryptocurrencies and Their Impact on Financial Systems," Advances in Economics, Business and Management Research, in: Junfeng Liao & Hongbo Li & Edward H. K. Ng (ed.), Proceedings of the 2024 2nd International Conference on Digital Economy and Management Science (CDEMS 2024), pages 324-331, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-488-4_36
    DOI: 10.2991/978-94-6463-488-4_36
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