Different Types of Digital Currency and Their Impact on the Financial Industry| Infiniti Research
August 10 2018 - 7:32AM
Business Wire
Infiniti Research, a world-renowned market intelligence
solutions provider, has announced the completion of their latest
article on the different types of digital currency and their impact
on the financial industry.
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the full release here:
https://www.businesswire.com/news/home/20180810005169/en/
Top 4 Types of Digital Currency and Their
Impact on the Financial Industry. (Graphic: Business Wire)
At present, there is a very small number of users who prefer
digital currency. The outline for its regulation and the tax
structure to control digital currency is still developing. It has
two types, namely virtual currency and cryptocurrencies. Digital
currency enables direct payments between payees and payors and
eliminates infrastructure costs, intermediaries, and processing
costs. It also allows the easy and transparent flow of funds.
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Digital currency is a payment method which exists only in the
electronic form. Digital money has many advantages linked with it
like easy and timely payments and smaller transaction costs. The
acceptance of digital currency by the financial industry is less
due to risk factors such as identification of payment beneficiary,
volatility of currency, regulatory compliance, and transaction
risks.
“Digital currency helps companies in the financial industry to
eliminate the risk of exposure since they are highly secure,”
says an industry expert from Infiniti.
Digital Currency List:
- Bitcoin: This type of currency
was launched in the year 2010 and since then it has earned huge
popularity as a cryptocurrency. Even though bitcoin is becoming
prevalent since the time it has been introduced, it also has
suffered a few disadvantages in the past few years like its
shooting transaction costs. To know more about our
solutions, get in touch
- Ethereum (ETH): Ethereum was
launched in 2015, it has got its strength from its development
team. It depends on the blockchain technology and has pooled a
crowd of famous institutions, investors, and also some of the
well-known corporations like BP, Toyota, Intel, and Microsoft.
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Impact of digital currency on the
financial industry:
- Increase in efficiency: The use
of digital currency will upsurge the effectiveness of the financial
industry by making payments faster, easier, and most prominently
more secure. The businesses in the financial industry will clearly
witness many benefits from the use of this technology.
- The effective alternative for
unstable economies: Even though digital currency has not been
accepted extensively, its use in countries like Venezuela where
Bitcoin looked to be more stable than its national currency at the
time of high inflation, shows that it can be an effective
substitute for hard cash in the future. Get in touch, to
know more about the impact of digital currency on the financial
industry
Infiniti Research is a global market intelligence company
offering strategic insights to help look beyond market disruptions,
study competitive activity, and develop intelligent business
strategies. Listed below are the different types of digital
currency and their impact on the financial industry.
View the complete list of the different types of digital
currency and their impact on the financial industry:
https://www.infinitiresearch.com/thoughts/digital-currency-financial-industry
About Infiniti Research
Established in 2003, Infiniti Research is a leading market
intelligence company providing smart solutions to address your
business challenges. Infiniti Research studies markets in more than
100 countries to help analyze competitive activity, see beyond
market disruptions, and develop intelligent business
strategies.
With 15+ years of experience and offices across three
continents, Infiniti Research has been instrumental in providing a
complete range of competitive intelligence, strategy, and research
services for over 550 companies across the globe.
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