FUTURE OF CRYPTOCURRENCIES AND BLOCKCHAIN TECHNOLOGY IN FINANCIAL MARKETS

Abstract

In this paper we are presenting scope
and restrictions on the use of cryptocurrencies in international
business, banking and in financial markets
The subject of this research is to analyze
utilization of cryptocurrencies in the international
business. The goals of the research are to provide to
the researchers and to practitioners and to the scientific
and professional public, an overview of current
research on blockchain technology in the economy
and to determine the impact of the wider use of cryptocurrencies
in international business and their impact
on the future of financial markets..The research
was realized by the method description, literature
analysis and conducted research. The selected examples
are presenting the possibility of earning, buying
and storing cryptocurrencies, paying with cryptomoney
and invest in them. In the paper we are
searching for an answer to the question “What are
the advantages and disadvantages of using cryptocurrencies
in international payment and what is the security
of using cryptocurrencies in the future?” In the
answer, this paper will present in what direction the
use of crypts will develop in the future. Results are
presenting the blockchain technology, though background
technology, which would not be known that
cryptocurrencies did not gain popularity, has a bright
perspective. Conclusion presents that as long as the
transaction costs are lower than the cost of payment
transactions, the rational behavior of legal and natural
persons requires that they should encourage the use
of cryptocurrencies among themselves in order to reduce
the costs of the transactions when paying and to
overcome the existence of an intermediary.