Current Business Affairs Global Cryptocurrency Market 2018

Global Cryptocurrency Market Trends, Analysis, and Forecast To 2025
Market Definition:
Cryptocurrency is a digital currency which operates on cryptographic techniques to complete safe transaction. Being
decentralized with no governing body/central body involved in verifying transaction, secured protection and producing
new currencies are projected to be the major reason for the market growth over the forecast period. Moreover,
cryptocurrency’s community which include miners/stakers, developers, service providers, users etc. drive the
governance of cryptocurrencies. The positive feedback loop has made the community more homogenous.
Globally, cryptocurreny has been selected as digital payment method for the future financial world. These convenient
currencies are completely digital requiring online transaction unlike physical cash. Hustle free transaction and deduction
in entire ownership cost are few key features propelling the industry.
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Market Growth and Analysis:
Major drivers include authentication, ease of transaction, complete security, faster international transaction are
expected to spur the market growth with steady performance. Moreover, the industry has not been confined with
government rules, exchange rates, interest rates or international transaction fee, hence, making the currency more
convenient for application.
The currencies can also be transferred digitally via devices such as smartphones, since they are completely unrestricted
from any centralized bank/authorities. Vendors and consumers prefer virtual money for making payments, henceforth,
creating new opportunities for the market growth.
Tax-free & compliance-free transactions, lesser chances of identity theft & fraud and negligible fee charged for
cryptocurreny transaction are few other key elements augmenting the industry growth over the forecast period.
Moreover, lack of awareness among the people and stringent rules and regulations for application of robots in various
countries is expected to restrain the market growth. The emerging industry is projected to grow over the forecast period
with more public awareness and continuous increase of new market players with innovative product/services.
Market Segment:
The market has been segmented into type of currency, mining types, and application. The type of currency segment
includes Bitcoin, Litecoin, Ethereum, Ripple, and others. Mining type is segregated into solo and pool mining. The
application segment includes banking, real estate, stock market and virtual currency. Other application for the market
includes retail sector, gaming industry, education, logistics & transportation, BFSI, tourism sector, media and
entertainment industry. BFSI is expected to acquire the major share followed by retail sector operating on
cryptocurrencies. The cryptocurrency mining hardware includes Central Processing Unit (CPU) mining, Graphics
Processing Unit (GPU) mining, Field-Program Gate Array (FPGA) mining, and Application-Specific Integrated Circuit (ASIC)
mining. ASIC mining can calculate 10,000 times faster than conventional CPU mining.