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Fear and Future of Cryptocurrency: An Introspection

Mr. Shams Ul Hayat, Dr. Nassir Ul Haq Wani

Volume 1 Issue 1 | Jan 2018

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Introduction

There is no doubt that Cryptocurrency is a word that provokes a very strong response these days. On one hand, Team Crypto proclaimers the arena as the next big thing as they speak in blue sky terms about the future of this new form of currency that takes digital shape and is beyond restriction. In direct opposition is Team Tradition that warns of the perils of decentralization and fraud around pure digital currency. Indeed, there was nothing short of a frenzy around trading on the CBOE Bitcoin futures a few days ago, while the day after reports detailed a large digital heist surrounding Ethereum. Doomsday sentiment around this new area of tech convergence with thaof the financial spectrum is plentiful. Just why is there so much fear around the area of cryptocurrency, and what will 2018 mean for this pioneering area, particularly as we move to a general cashless society that is easily driven and adopted by the massive Millennial demographic?