Bitcoin and other cryptocurrencies will dramatically increase the effectiveness of the financial industry. Bitcoin is an efficient alternative in countries with unstable economies, according to a study recently published by Infiniti Research.
Cryptocurrencies Impact the Financial Industry
The rate at which research reports about Bitcoin and other cryptocurrencies are being published is increasing. The latest piece of research comes from Infiniti Research, a provider of market intelligence, entitled “Top 4 Types of Digital Currency and Their Impact on The Financial Industry.”
The research study concludes that although cryptocurrencies are not yet widely accepted, they are already impacting international finances by making cross-border transactions easier. As a result, researchers expect that foreign exchange costs will be substantially cheaper in the future.
Furthermore, by using blockchain technology, digital currency transactions are settled in real time, thus saving time. Researchers affirm that if banks adopt blockchain technology “It can be a good competitor for other payment modes, which will ultimately benefit the end user.”
The study focused on four types of currencies, ranking Bitcoin as the first, followed by Ethereum, Monero, and Dash, and highlighted each currency’s strength.
See more - https://bitcoinist.com/bitcoin-is-a-safe-haven-asset-that-will-improve-finance-new-research-suggests/
