Cryptocurrency and the Future Currency in the United States of America

  • Brandon Aiden Texas Southern University
  • Owen Mason Texas Southern University

Abstract

Technology has significantly changed the way people work, shop, and pay for their goods. Many companies and consumers prefer to use technology rather than cash. People now want to wave their smartphones to pay for their products at digital registers. Cryptocurrency has become a new method of payment and has been adopted by many large organizations. The first cryptocurrency that went mainstream and is still growing in popularity is bitcoin. However, today, there are more than 2000 types of cryptocurrency in the world, and more are being developed every day. Cryptocurrencies are an alternative to more traditional methods of exchanges such as credit cards. Bitcoin remains the most popular cryptocurrency and has become an established and viable investment that is fueled by the positive hype associated with the blockchain technology that supports it. This leads to a positive effect on the trading practices and wallets of investors around the world. However, there are some schools of thought that cryptocurrencies as a medium for terrorists, fraudsters, and criminals as these types of people are known for their involvement in scams and illegal trading on the Dark Web. However, the merits of cryptocurrency far outweigh its demerits and are bound to keep increasing in popularity and grow. 

Keywords: Cryptocurrency & USA

Author Biographies

Brandon Aiden, Texas Southern University

Texas Southern University

Owen Mason, Texas Southern University

Texas Southern University

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Published
2021-07-01
How to Cite
Aiden, B., & Mason, O. (2021). Cryptocurrency and the Future Currency in the United States of America. Journal of Finance and Accounting, 5(2), 10 - 17. Retrieved from https://stratfordjournals.org/journals/index.php/journal-of-accounting/article/view/815
Section
Articles