Marketing Strategies to Increase Demand on Cryptocurrencies

Abstract

Bitcoin is a form of digital cryptocurrency and Blockchain is a platform of trust. Bitcoin is a concept of decentralization and to adopt it as currency is one way of utilizing it as value. There are a lot of crypto currencies available worldwide. Some far more valuable than others such as; Bitcoin, Dogecoin, Litecoin, Ripple, Tron etc. And the global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. A country's decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. This report agrees with the consensus that cryptocurrencies will gain mainstream status in the next 10 years. The genuinely innovative element seems to be the distributed ledger, especially in combination with digital currencies that are not tied to money denominated in any sovereign currency. The main innovation lies in the possibility of making peer-to-peer payments in a decentralized network in the absence of trust between the parties or in any other third party. Digital currencies and distributed are closely tied together in most schemes today, but this close integration is not strictly necessary, at least from a theoretical point of view.