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International banking and finace

Do you agree with the authors' views? What did you learn from this? Does that give you hope or scare you? What do you think is the solution to this problem.











 

OBSERVATIONS ABOUT CRYPTOCURRENCY





 

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OBSERVATIONS ABOUT CRYPTOCURRENCY

To an extent, one can agree with the author’s views. One, cryptocurrencies and new technologies are the future. Pioneers in these fields have earned enough to convince any investor of the possibility of earning enough money from these investments (Colombo et al., 2021). Suppose Web 3 and other technologies will replace social media tomorrow. In that case, it will be easy to say that such an industry will grow, and investors will miss out on earning returns. Therefore, I concur with the author that it is not yet reasonable for one to call them nonsense.

However, these industries are not yet mature. For instance, the crypto currency market has been very volatile recently, and investors have seen a lot of losses. Therefore, until the industries achieve maturity and reliability in terms of returns, it could be risky to join in at the moment, but it would also be wrong to avoid the whole industry (Angerer et al., 2021). An investor is a seeker of knowledge and should thus pay attention to this craze. I have learned that although people view cryptocurrencies and the new revolutionary technologies as dangerous, it is not all bad for investors as they should research to understand what is happening in the world (Afzal & Asif, 2019). I am hopeful that the technologies will become reliable and provide guaranteed returns, or at least, like the stock market, they will be a bit stable for investors to invest without fear.

The solution to the problem facing cryptocurrencies would require several things to be done. Legislation surrounding the crypto spactaur should be strengthened to protect investors from scammers (Auer & Claessens, 2018). On the other hand, I believe that a lot of accounting and research should be done to ensure that people can understand them correctly.





 

References

Auer, R., & Claessens, S. (2018). Regulating cryptocurrencies: assessing market reactions. BIS Quarterly Review September.

Afzal, A., & Asif, A. (2019). Cryptocurrencies, blockchain and regulation: a review. The Lahore Journal of Economics24(1), 103-130.

Colombo, J., Cruz, F., Paese, L., & Cortes, R. (2021). The diversification benefits of cryptocurrencies in multi-asset portfolios: Cross-country evidence. Available at SSRN 3776260.

Angerer, M., Hoffmann, C. H., Neitzert, F., & Kraus, S. (2021). Objective and subjective risks of investing into cryptocurrencies. Finance Research Letters40, 101737.



 

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