Understanding Cryptocurrencies: A New Financial Frontier

Understanding Cryptocurrencies: A New Financial Frontier

Mr.Saravanan.K
Reg No - 43410330
MBA (Finance and Operations), School of Management Studies,
Sathyabama Institute of Science and Technology,
Chennai, Tamil Nadu
Mail id - saravanasc31749@gmail.com

Mr.Sriram.R.B
Reg No - 43410342
MBA (Finance and Marketing), School of Management Studies,
Sathyabama Institute of Science and Technology,
Chennai, Tamil Nadu
Mail id - rbsriram8@gmail.com

ABSTRACT
This study explores how Digital currencies have become a powerful force in the global financial system, challenging traditional banking methods and creating new opportunities for decentralization, financial inclusion, and security. This paper explores the development, benefits, challenges, and impacts of digital currencies. By reviewing existing research, it examines both the potential advantages and risks of adopting digital currencies worldwide. The study focuses on the technology behind digital currencies, their economic effects, and security concerns, providing a clear understanding of their role in today's financial world. It also offers insights into the future of digital currencies and the regulatory frameworks needed to support innovation while protecting consumers.

Keywords : Digital currencies, global financial system, traditional banking, decentralization, financial inclusion, security, development, benefits, challenges, research, advantages, risks, technology, economic effects, security concerns, regulatory frameworks, innovation, consumer protection.