Impact of Blockchain on the Crypto financial industries
DOI:
https://doi.org/10.31150/ajebm.v5i3.985Keywords:
Crypto-assets, Crypto-currencies, Blockchain, Crypto-economyAbstract
Blockchain technology has recently garnered significant attention regarding functionalities, remarkable potentials, potentially novel and innovative corporate models, and technological implementations on the advantages of emerging crypto markets. This study primarily aims to assess the effects of blockchain technology and emerging crypto markets. Two primary techniques (deductive and inductive) were utilised to analyse the study data from the Cambridge Centre for Alternative Finance, Congressional Research Service, North American Industry Classification System (NAICS) and CoinMarketCap. Econometrics considerations have enlightened this paper. The findings provided several noteworthy insights to gauge how blockchain technology time influenced emerging crypto market behaviours. Notably, the price of one Bitcoin at $7,945 (as of March 9, 2020) exceeded $32000 on 21 January 2021.Thus, it was concluded that the blockchain impact might gradually reconstruct market structures, product capacities, and client experiences towards sustainability in emerging crypto markets and the global economic system.
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