Homework answers / question archive / 1) Information does not seem to be very well organized, specifically:    a

1) Information does not seem to be very well organized, specifically:    a

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1) Information does not seem to be very well organized, specifically:

   a. No section Subheadings 

   b. I seems to be jumping around from crypto is a Derivative to crypto is a Currency to crypto is a Technology back to crypto is

      a Derivative.  

   c. I need to do the work of making all of those sections fit in the right groups and subheadings and sub-subheadings. So       

      having a section about Cryptocurrency As a Currency, which we saw in El Salvador using it as it as official currency. 

   d. I need them group together and stop the jumping back and forth.

Chapter 2: Literature Review The main purpose of this qualitative study is to examine how cryptocurrency evolved and its impacts on the United States financial market. The specific problem that it intends to address is the lack of knowledge on cryptocurrencies, as well as their negative impacts such as price volatility, scalability, and regulations on the financial sector, the corporate world, and the global economy. In the recent past, the cryptocurrency market has witnessed dramatic growth due to the growing acceptance of cryptocurrency in various parts of the world and across diverse sectors and industries. Cryptocurrency is the latest trend in the global economy and the financial sector caused by present transformations in the financial system. Over the past few decades, cryptocurrency began out as some strange technological experiment for economic fanatics. Nonetheless, cryptocurrency has today evolved into a real gamechanger. The impact that cryptocurrency has left on the global economy can no longer be doubted regardless of its volatility. In fact, many people are beginning to embrace and accept cryptocurrency since it has evolved into the safest, most efficient, and convenient payment method across the globe. However, the problem is that little is known about how cryptocurrency has evolved and its impacts on the financial market, corporate world, and the global economy. The available literature has delved into what cryptocurrencies are and the kind of technology that supports them. However, little has been done on the evolution and impact of cryptocurrency on the global financial market, corporate world, and global economy. In fact, many people are not aware of the adverse impacts of cryptocurrency, including price volatility, scalability, as well as regulations on the global economy and the financial sector. This literature review has a total of four sections. The first section is about the theoretical framework that guided the study while the second section is about the evolution of cryptocurrency. The third and the last sections of this literature review are about the impacts of cryptocurrency on the financial market, the corporate world, and the global economy and the databases accessed and the search engines used, including the search parameters, the search terms, and their combinations. As stated above, the literature review consists of four different sections. The first section, which is about the guiding theoretical framework entails the theoretical frameworks that informed this particular study while section two is about the evolution of cryptocurrency concerns itself with the development of cryptocurrency as a monetary asset since its development in 2009. In this section, the literature analyses the technology in which cryptocurrency is based, how it started, the individual or the individuals who introduced it, and the extent to which it has evolved. This section also concerns itself with the process through which it was developed. The third section is about the effects of cryptocurrency on the financial market, the corporate world, and the global economy. All signs indicate that cryptocurrencies have significantly evolved over the past few decades and their impacts on the financial sector, the corporate world, and the global economy can no longer be ignored. Therefore, this section concerns itself with the specific impacts of cryptocurrency on the financial sector, the corporate world, and the global economy. On the other hand, the final section of this literature review focuses on the databases accessed and the search engines used, including the search parameters, the search terms, and their combinations. In this respect, this section assesses the databases from which the sources used were retrieved, the specific terms used to arrive at those sources, and the exact parameters employed during the search process. Theoretical Framework The guiding theoretical frameworks of this study include the mises Regression Theorem and the Garch Model (Von Mises, 2013; Engle et al., 2019). The mises Regression Theorem is considered a theory of the origin of money. In this case, the mises Regression Theorem concerns itself with the value of money. The theory’s justification of the value of money influenced by the monetary product's objective exchange value depends on its non-monetary use prior to its adoption as money. In this theory, the subjective theory of value applies to the purchasing power of money or the objective exchange value. The mises Regression Theorem explains the objective exchange values of other goods and services, except money, using the subjective theory of value. The main assumption of this theory is that the future purchase power of money is based primarily on the knowledge about its today’s purchase power. Also, the mises Regression Theorem posits that the present assessment of purchase power is obtained from the past purchase power. According to this theory, only those commodities with a generally agreed-upon utility value can become universally accepted natural money. The key concepts of this theory include the objective exchange value or the purchasing power and the subjective theory. By definition, objective exchange values refer to the ability of goods in certain situations to procure a given quantity of other similar goods during an exchange. On the other hand, the subjective theory of value refers to a theory that holds that an object’s value cannot be determined by the amount of time and resources used to develop it. There is no doubt that these concepts are interrelated (Stroukal, 2018). These concepts are related because they all attempt to address the issue concerning cryptocurrencies and whether they are real money or not. Based on these concepts, past experiences with cryptocurrencies play a key role in determining future trust in its stability. This theory was developed in 1912 by Ludwig von Mises. This theory was based on Mises’ argument that the value of money can be regressed to past goods and services. The theory is relevant and can be applied directly to cryptocurrencies. According to Stroukal (2018), this theory argues that the non-fiat money ought to have had value because it changed into money. The same holds for cryptocurrencies. A number of researchers have used this theory to explain the origin of money and its value (Stroukal, 2018). In particular, researchers are increasingly using this theory to explain the value of cryptocurrency and whether it should be considered as money with value. According to the mises Regression Theorem, the future purchase power of money is determined primarily with the present knowledge about its purchase power. In this respect, the present purchase power of money is influenced by past knowledge about it (Stroukal, 2018). Stroukal (2018) indicated that an alternative theoretical framework is the commodity theory of money. The commodity theory of money explains why commodities eventually turn into money. Even though it explains why commodities turn into money, it fails to explain where money gets its value. Hence, the mises Regression Theorem was selected over the commodity theory of money because it discusses the value measurement of money and the factors influencing it. This theory relates to the present study because it attempts to explain the monetary value of cryptocurrencies, where they derive their value from, and whether they will eventually become universally accepted natural money. This theoretical framework guided the research decisions, including the development of the problem statement, purpose statement, and research questions, by offering a print map on how the research questions were developed and the entire study carried out. The other theoretical framework guiding this study is the Garch Model. The Garch Model concerns itself with financial markets. This model is used to explain changes or variations in the financial markets. The main assumption of the Garch Model is that variance of the error term depicts an AR moving average process. Cheikh et al. (2020) conducted a study in which they found that the model helps assess risk and probable returns for assets exhibiting grouped periods of volatility. The model applies in situations where the variance of the error term keeps changing. Another proposition of the Garch Model is that the mean of all error terms remains constant at all points. Some of the key concepts of this theory include volatility and error term. Volatility refers to the tendency to change suddenly. An error term refers to a variable developed when the real relationships between variables are not represented fully. These concepts are related because they all address the issue of volatility, which is a significant issue with cryptocurrencies. This model was created in 1986 by Dr. Tim Bollersev. The model was developed with the aim of addressing the issue of predicting volatility in the prices of assets. This model is relevant to cryptocurrencies as it addresses the issue of volatility. It reveals the place of cryptocurrencies in the international financial market as a mode of exchange (Cheikh et al., 2020). This model was selected over other theories because it explains the present variations in the business environment and why the value of cryptocurrencies varies frequently. The framework guided the research decisions, including the development of the problem statement, purpose statement, and research questions by paying attention to particular variables and determining the viewpoint that the researchers will use to assess and evaluate the gathered data. Evolution of Cryptocurrency ElBahrawy et al. (2017) conducted a study on the evolutional dynamics of the cryptocurrency market. The researchers were primarily interested in examining the history of cryptocurrencies and analyzing the behavior of all of them introduced in the market between the years 2013 and 2017. The study was conducted by collecting data from the website Coin Market Cap. Particularly, ElBahrawy and his counterparts collected data from about 157 exchange market platforms every week beginning from the 28th of April 2013 and May 2017. The researchers argued that the data collection method was appropriate because it offered them information concerning the market capitalization of cryptocurrencies, their prices in U.S. dollars, and their trading volumes. This research is very informative as it introduces several other types of cryptocurrencies in the market. The results of this study reveal that cryptocurrencies have significantly evolved over the years. According to ElBahrawy et al. (2017), the market capitalization has grown since 2015 to the extent that its value in 2017 was about four times higher than its value in 2016. The researchers also found out that bitcoin is the first cryptocurrency to be introduced in the market. However, as of 2017, there were approximately 1,500 types of cryptocurrencies in the market. From their findings, bitcoin's market share has continued to reduce following the introduction of several other types of cryptocurrencies in the market. Its value has, however, continued to increase in the financial market and the global economy. The above study results reaffirmed the findings of a previous study by Giudici et al. (2020). The authors argued that cryptocurrency has significantly evolved over the years. They also demonstrated that there are numerous challenges associated with the increasing value of cryptocurrencies and their rising popularity. The study highlighted that cryptocurrencies perform a host of essential functions, thereby impacting the global economy positively. Osterrieder and Lorenz (2017) performed a statistical risk analysis of bitcoin and its extreme tail behavior where the researchers were mainly interested in understanding the returns of cryptocurrencies, particularly bitcoin. During the study, the researchers focused on the tail risk features of bitcoin. Osterrieder and Lorenz (2017) evaluated the properties of bitcoin in relation to those of conventional exchange rates. This study reveals that the return distribution of bitcoin portrays increased volatility compared to that of conventional G10 currencies. The researchers also found that bitcoin possesses more robust non-normal features and heavier tails, which significantly impacts financial markets. Luchkin et al. (2020), in their study geared towards understanding cryptocurrencies, the problems they bring, and ways of overcoming those problems recognizing the growing significance of cryptocurrencies in the global economy, the corporate world, and the global financial markets. The authors staged a detailed historical analysis of the development of monetary systems with the aim of understanding the evolution of cryptocurrency and the probable consequences of its further spread on the international financial system. The research methodology involved analyzing, systematizing, and generalizing information in the documentary, internet, and literature sources about cryptographic money. This study reveals that cryptocurrencies are the initial step in bringing the present monetary system to a more advanced and technological level of development. Historically, the researchers established that the first experience of cryptography use dates back to the 1990s when David Chau's DigiCash developed a company that allowed a centralized system of private payments. Luchkin et al. (2020) found that the bitcoin payment was later developed by a group of individuals who called themselves Satoshi Nakamoto. Until 2013, the bitcoin system hosted all cryptocurrency software. There seems to be a justifiable ground to argue that the article presents trustworthy and reliable information because it was accepted and published in an authentic research journal. The above study's findings supported the findings of an earlier study conducted by Corbet et al. (2019) directed towards understanding the market for cryptocurrencies and the extent to which they have evolved since their introduction as a monetary asset in 2009. This study discovered that cryptocurrencies have tremendously evolved since 2009. The researchers posit that the value of the cryptocurrency has also continued to increase over the years. However, as a monetary asset, cryptocurrency is constantly subjected to claims of pricing dynamics regardless of the rise in its price. On a logical premise, the study argues that the regulatory issues associated with cryptocurrency are mainly due to its pricing bubbles. Even though cryptocurrency has dramatically evolved, Corbet et al. maintained that the growth of cryptocurrency is significantly influenced by a rise in cyber criminality and the lack of a well-developed exchange system. Corbet et al. (2019) added that several people continue to question the role of cryptocurrency as a genuine investment asset due to the issue of cyber criminality and the lack of a stable exchange system. The researchers also established that the value of cryptocurrency is increasingly being questioned as several people do not understand its exchange system regardless of how it has evolved. The results of this study offer an in-depth understanding of the market of cryptocurrency and the extent to which it has evolved. This study cannot be ignored in literature since it has detailed cryptocurrency market practices that can enable investors and financial institutions to not only develop a better understanding of cryptocurrency and its potential impact on the corporate world, the global financial markets, and the global economy. Along similar lines, Tasca et al. (2018) extracted and analyzed the relationships between network payment in a bid to explain the evolution and development of the economy of bitcoin. Tasca and his counterparts were mainly interested in gathering together the simplest units of the identity of users in the bitcoin network and grouping them into groups of business entities (Tasca et al., 2018). The researchers employed data mining methodology to extract the information they needed to explain such relationships. Results of this study reveal there are essential business groups in the bitcoin economy. The categories identified include black markets, gambling services, exchanges, and miners. The researchers also established that the most common pattern of transaction among bitcoin holders involves cashing out daily. Based on these findings, Tasca et al. (2018) was justified to suggest that cryptocurrency has significantly evolved in recent years since the bitcoin economy has matured and developed. It is clear that this study encourages investors to consider investing in the bitcoin economy since it is increasingly becoming a genuine enterprise. Lucchini et al. (2020) reaffirmed the above study's findings when they conducted a study aimed at understanding the evolution of cryptocurrency from a code to the market and the relationship between the market behavior of cryptocurrencies and their coordinated development. The findings of this particular study also reveal that cryptocurrencies are currently used both for speculation and as initially intended, which demonstrates that cryptocurrency has evolved to become an essential aspect of our present financial system. According to Lucchini and his colleagues, the value of cryptocurrency is highly volatile. The consensus view for this argument is that cryptocurrency is not founded on any physical asset, which results in a highly unregulated environment. Nevertheless, more investors are investing in cryptocurrency, given the significant increase in its value. Even though cryptocurrency has dramatically evolved since its introduction in 2009, Donmez et al. (2021) report that little is known about its evolutionary dynamics and fiat characterization. The authors investigated the fiat characterization and the evolutionary dynamics of the cryptocurrency market. During this study, the methodology involved the use of a minimum spanning tree and hierarchical algorithm. Donmez et al. (2021) noted with great concern that several economists are questioning the largely accepted monetary practices following the growth of cryptocurrencies. The results of this study unpacked that blockchain technology played a vital role in the development and evolution of cryptocurrency. The results of this study also offer in-depth understanding of the evolution of cryptocurrency and the connections between cryptocurrencies and the conventional currencies. The researchers advised economists, financial institutions, and future researchers to be aware of the linkages between different currencies in order to develop a better understanding of cryptocurrencies and the extent to which they may affect the financial market. Liang et al. (2018) conducted a study in which they assessed the evolutionary dynamics of cryptocurrency networks. The main interest of the researchers was to analyze the evolution of cryptocurrency and the dynamic network of three types of blockchain-based cryptocurrencies, which include Namecoin, Bitcoin, and Ethereum. The researchers acknowledged that cryptocurrency has evolved to become an important aspect of today's financial system during the study. During the research, the researchers analyzed the cryptocurrency networks from three different viewpoints. The first viewpoint entailed exploring the accrued network growth, while the second viewpoint involved selecting the most suitable tool for analysis. The third one entailed focusing on assessing the dynamics of the monthly networks before comparing them. The results of this empirical study reveal that cryptocurrency is primarily supported by blockchain technology. Liang et al. (2018) also found out that the network of the above cryptocurrencies does not always densify over time. However, they constantly change with a somewhat low node. Impact of Cryptocurrency on the Financial Market, the Corporate World, and the Global Economy Researchers are increasingly becoming concerned with the issue of cryptocurrency and the extent to which it impacts the financial market, the corporate world, and the global economy. Jedidia and Hamza (2021) examined the impacts of private cryptocurrencies on the dual system. According to Jedidia and Hamza (2021), private cryptocurrencies present a host of challenges to the financial system in spite of their numerous benefits. However, little is known about the issues that these cryptocurrencies present to financial stability. The researchers found that although beneficial, cryptocurrencies impact the financial system by interfering with the stability of finances. Besides, Jedidia and Hamza observed that the use of private cryptocurrencies is associated with a co-operated payment system. The compelling justification from this argument is that private cryptocurrencies do not have guarantee procedures. What is more, the researchers established that cryptocurrencies could impact commercial banks by exacerbating monetary stability risks. From the article, Jedidia and Hamza (2021) maintain that the use of cryptocurrencies can significantly expose financial institutions to higher systemic risk. On a logical premise, it could be argued that cryptocurrencies are associated with the absence of a lender of last resort of the central bank and the lack of financial policies to regulate it. The researchers concluded that financial institutions should ensure compatibility to ensure a stable financial system, especially a dual system. In a closely related study, Mahdy (2021) examined the economic effect of bitcoin splitting events on the U.S. capital market. During the study, the researcher reviewed rules on digital assets in various parts of the world. Besides, the researcher discussed certain use cases of bitcoin to minimize economic-related risks and promote transactions across countries and their benefits. What is more, the researcher discussed the challenges associated with bitcoin. Key among these challenges include cyber risk and security and cryptocurrency substitution. Moreover, the study examined the financial impact of bitcoin splitting events on the U.S. capital market. The study aimed to develop a better understanding of how bitcoin influences the financial markets. Mahdy (2021) established that cryptocurrencies are now real gamechangers in the financial market and the corporate world. The study also found that bitcoin impacts the U.S. capital markets to a greater extent. According to Mahdy (2021), bitcoin splitting events in the financial markets signal a trading trade-off between the U.S. stock markets and cryptocurrencies. The compelling justification for this argument is that bitcoin is linked to a substantial negative stock market response. During the study, the researcher maintained that the value of cryptocurrencies, especially bitcoin, has continued to increase despite changes and challenges in the financial market and the global economy. During this present pandemic, those holding bitcoin experienced the highest increase in prices since its introduction. The researcher concluded that the negative impact of cryptocurrency on the U.S. financial market is due to a significant surge in their prices and the recent bitcoin splitting event in 2020. The researcher also concluded that investors should not rush to invest only in a single market because the cryptocurrency market is highly volatile. Seetharaman et al. (2017) conducted a study on the impacts of bitcoin as a global currency. The researchers aimed to develop an improved understanding of the numerous factors behind the ever-growing value of bitcoin. Besides, the researchers aimed to understand how disruptive bitcoin can be, including its ability to replace the critical fiat currencies in the world's financial system. The researchers collected data using the survey method from a total of 208 participants. During the study, Seetharaman et al. (2017) analyzed the collected data using the most recent statistical tool, ADANCO 1.1.1. The results of this survey reveal that bitcoin has significantly evolved in the recent past. However, many individuals, including regulators, discourage the usage of bitcoin. However, some regulators oppose the use of bitcoin. The researchers argue that the value and impact of cryptocurrencies on the global economy and the corporate world cannot be ignored, given the significant increase in cryptocurrencies. According to Seetharaman et al. (2017), cryptocurrencies can impact the global financial market, the corporate world, and the global economy to a greater extent. The study found that several financial institutions are now forced to innovate to hinder cryptocurrencies from overtaking fiat currencies. In the study, the authors concluded that bitcoin could significantly harm the U.S. dollar, especially if its exchange rates continue to increase. Seetharaman and his counterparts based this argument on the observation that the value of cryptocurrencies like bitcoin has continued to grow over the years. In the past decade, cryptocurrency has become a fundamental factor in the financial market and businesses across the globe. Reijers and Coeckelbergh (2018) conducted a study on social ontology and normative configurations of cryptocurrencies. The researchers aimed to examine how cryptocurrencies can impact our social world. Reijers and Coeckelbergh, found that cryptocurrencies are capable of transforming the entire financial system and the models of governance and bureaucracies. In order to determine how cryptocurrencies can change societies, Reijers and Coeckelbergh constructed an ontological framework of narrative technologies. The framework allowed them to demonstrate how technologies can transform our social lives and environments. Reijers and Coeckelbergh (2018) reported that cryptocurrencies could transform the U.S. financial market, the global financial market, the corporate world, and the global economy by interfering with the flexibility of monetary transactions. Besides, the researchers found that cryptocurrencies can significantly affect our social environment by automating our interactions. The researchers concluded that the general public should get involved in the usage of blockchain technology and cryptocurrencies to prevent them from transforming our lives. They based this conclusion on the observation that only a few people understand the impact of cryptocurrencies on the financial market, the corporate world, and the global economy. Charfeddine et al. (2020) later reaffirmed the above study's findings when they investigated the dynamic association between cryptocurrencies and traditional assets and what that means for financial investors. According to Charfeddine et al. (2020), a number of people are still skeptical about the use of cryptocurrencies to perform financial transactions even though cryptocurrencies are slowly establishing themselves as the latest and most valuable monetary asset. The researchers used Garch models and various time-varying copular strategies to stage an in-depth comparative analysis of the features of cryptocurrencies and identify their varying connection with key financial commodities and securities. Charfeddine et al. (2020) expressed their dissatisfaction with cryptocurrencies as a tool for diversification. The study results show that cryptocurrencies may negatively impact the global financial market since they are not good hedging tools in various cases. They also established that external financial and economic shocks could easily influence the link between traditional assets and cryptocurrencies. Since their introduction into the financial markets, cryptocurrencies are increasingly used by economists and various investors to transform not only the U.S. financial market but also the global financial market, the corporate world, and the global economy. On logical grounds, it could be argued that cryptocurrencies can promote economic growth across the world. However, they can also negatively impact the global financial market, the corporate world, and the global economy. Zhu et al. (2021) wrote an article that assessed the link between new investor attention and the monetary features of bitcoin. Particularly, the researchers paid attention to the link between features of bitcoin, such as volatility and returns. The primary aim of this study was to determine the impact of cryptocurrencies on the financial market. They collected data about the prices of bitcoin from the 1st of July 2013 to the 31st of May 2020. The researchers obtained the data from Coin Market Cap. The findings of this empirical study show that the attention of investors is the primary cause of changes in the market of bitcoin. In fact, their attention applies to the key features of bitcoin, which include volatility and returns. Based on these results, it seems fair to suggest that the impact of cryptocurrency on the U.S. financial market, the global financial market, the corporate world, and the global economy may be positive or negative depending on the investor's attention. The results of this study supported the findings of an earlier study conducted by Leonard and Treiblmaier (2019). In the article, the authors argued that blockchain technology involves a host of implications for investors across different sectors and industries. During the study, the researchers explored the possibility of cryptocurrency influencing the financial market positively and facilitating the development of a stable and sustainable economy. The researchers maintained that cryptocurrencies might significantly influence the financial market, the corporate world, and the global economy. Goel and Mittal (2020) further supported the findings of these studies when they argued that cryptocurrencies are today considered the safest and most effective modes of making payments. According to Goel and Mittal (2020), cryptocurrencies offer several chances for users in the form of novel market ventures and work propensities. However, they are associated with issues like lack of markets and volatility. Other researchers also followed suit to explore the impacts of cryptocurrencies on the global financial market and the global economy. In the study conducted by Liu and Serletis (2019), they posited that the prices of cryptocurrencies are highly volatile, which implies that they can positively or negatively impact the global financial market, corporate world, and the global economy. Liu and Serletis (2019) stated that there is a statistically significant link between volatilities and shocks among the major types of cryptocurrencies. They also established that cryptocurrency values are highly volatile since there is a substantial spillover impact from the market of cryptocurrency to other financial markets in the United States and other major economies. Elsewhere, Sivicka (2018) assessed the influence of cryptocurrency on the future of the global financial payment system via the example of bitcoin. Sivicka (2018) was mainly interested in determining how the use of bitcoin can impact the global banking system and financial settlements. The author relied on a critical analysis of scientific methodology to obtain data and determine how cryptocurrencies impact the global financial market. During the study, Sivicka found that bitcoin is capable of transforming the financial market and the global economy. Sivicka (2018) based this argument on the observation that transactions performed using cryptocurrency lacked the risks associated with a counterparty. After analyzing the data, the author maintained that bitcoin could significantly transform our financial systems and the global economy as a whole. The researcher concluded that financial institutions should implement novel financial instruments based on this new technology and make relevant changes to financial laws to maintain their competitive advantage. Since its emergence, cryptocurrency has demonstrated that it is one of the most powerful and influential tools in the financial sector. DeVries (2016) conducted a study on cryptocurrencies, bitcoin, and the future. According to DeVries (2016), bitcoin is increasingly paving the way for a more disruptive technology even though it was created in 2009. DeVries opined that even though cryptocurrencies may not take the place of traditional currencies, they can significantly transform the global financial market, the corporate world, and the global economy. This study found that cryptocurrency may transform the financial market by developing a free and unregulated trading system. This argument concurs with Nasir et al. (2019) observation that the use of cryptocurrencies may result in significant shifts in the global financial market, corporate world, and the global economy. Nasir and his counterparts' observed that cryptocurrencies are causing substantial shits in international investments as more investors are increasingly using bitcoin in their portfolios. According to Nasir et al. (2019), bitcoin is already transforming the global financial market and the international economy since it does not require any middleman to ensure successful transactions. Seetharaman et al. (2017) conducted a study that examined the impacts of bitcoin as a global currency. The primary focus of the study was to develop an improved understanding of the various factors which translate bitcoin as it becomes more and more famous. The researchers used a partial least squares, structural equation model to gather data about bitcoins and how it impacts the global economy. The researchers studied variables such as the usage of bitcoin as a currency, regulation or the absence of it around cryptocurrency, bitcoin technology, and bitcoin economy. They analyzed the collected data using ADANCO 1.1.1. During the study, Seetharaman et al. (2017) argued that cryptocurrency is increasingly taking the place of traditional currencies. This study observed that cryptocurrency would transform how people make payments and affect the future of global currencies such as the USD, which is already encountering challenges from the Chinese Yuan Renminbi and EURO. From the above findings, one can argue without any fear of contradiction that cryptocurrency will impact the global financial market, corporate world, and the global economy to a greater extent. Baur et al. (2015) examined cryptocurrencies as a possibly disruptive payment method. During the study, the researchers focused mainly on bitcoin. Their fundamental interest was to understand how bitcoin impacts the global financial market and the global economy. From the article, Baur and his colleagues collected data from 13 participants using an inductive, exploratory interview approach. They explored various determinants that making bitcoin a significant gamechanger in the financial market. Some of these determinants include the usefulness of bitcoin, its usability, as well as the subjective norm. The researchers confirmed from all the study participants' that bitcoin has significant future potential as a payment method. Besides, the study established that several people perceive blockchain technology as a possible revolutionary way to develop and maintain a fair society and one that is founded on open data and open platforms. Therefore, cryptocurrency impacts the global financial market, corporate world, and the global economy as it minimizes the extent to which the general public relies on fiat money. The compelling justification for this argument is that cryptocurrencies are free from any political and financial issues that usually affect conventional currencies. In their study, Qin et al. (2021) directed towards understanding the role that bitcoin plays in diversifying investment risks during times of international financial policy uncertainty. The researchers used the bootstrap full-and sub-sample rolling window Granger causality tests to examine the link between bitcoin returns and the international financial policy uncertainty. The study found that there is a direct link between global financial policy uncertainty and bitcoin returns, which implies that cryptocurrencies like bitcoin can have substantial effects on the financial market, the corporate world, and the global economy. During this study, Qin et al. (2021) postulated that international financial policy uncertainty has both negative and positive impacts on the returns of bitcoin. Hence, investors should not view bitcoin as the only payment method as it cannot aid in hedging policy uncertainty. The researchers posited that international financial policy uncertainty has vital information to enhance the forecasting of bitcoin returns and the volatility in its market. In this case, investors can use the information obtained from international financial policy uncertainty to maximize their investment in the bitcoin market since bitcoin can impact the global financial market, the corporate world, and the global economy. Sharma et al. (2019) reaffirmed the findings of the above study. The authors argued that cryptocurrencies, especially bitcoin, are increasingly becoming an investment option. The study selected over 230 papers on bitcoin through databases like ScienceDirect and Web of Science to develop an improved understanding of bitcoin and its impact on the overall financial market. From the information collected, Sharma and the other researchers found that many investors are beginning to view bitcoin as a significant financial asset since it can transform the financial market and the global economy. Today, many people view blockchain technology as the newest disruptive technology and one that is capable of transforming the global financial market, the corporate world, and the global economy. Frizzo-Barker et al. (2020) conducted a study that assessed whether blockchain technology is the latest disruptive technology for businesses across the globe. According to Frizzo-Barker et al. (2020), this technology is the underlying technology for cryptocurrencies like bitcoin. The researchers conducted a PRISMA guided systematic review of this particular technology between 2014 and the year 2018 to determine its impact on businesses and the global financial market. This study demonstrates that this technology is both beneficial and challenging to businesses and society at large. In this respect, blockchain technology is beneficial to the global economy and the financial market and presents many challenges to them. Some of these challenges presented by cryptocurrencies include issues to do with cybersecurity. Wang et al. (2019) carried out a systematic literature review aimed to develop a better understanding of blockchain technology and its possible impacts on future supply chains. This study's key purpose was to explore how this technology is likely to impact forthcoming supply chain policies and practices. During the study, the researchers consulted several accounts of blockchain accounts. They found out that blockchain technology is increasingly gaining momentum in various industries across the globe. The authors also established that the value of blockchain technology relies mainly on supply chain digitalization and disintermediation, extended visibility and traceability, enhanced data security, and well-thought-out contracts. The findings of this study imply that cryptocurrencies can significantly transform the global financial markets, the global economy, and the corporate world. The above arguments and findings concur with the findings of Jagtiani et al. (2019) that cryptocurrencies can seriously affect the global economy. According to the researchers, cryptocurrencies are capable of becoming an essential economic technology for the future. They, however, noticed that cryptocurrencies are risky investments since their prices are highly volatile. As a result, the authors suggested in their concluding remarks that regulators should implement laws to close the present loopholes in the global financial market. Similarly, Othman et al. (2019) investigated the persistence of asymmetric and symmetric volatility effects on bitcoin's everyday returns compared to those of fiat money and gold. During this study, the researchers used Garch family models. Based on the symmetric analysis, the researchers established that volatility varies across bitcoin, gold, and fiat currency. On the other hand, the asymmetric analysis demonstrates that gold and bitcoin are not significantly affected by asymmetric information in the financial markets as the U.S. dollar, which is impacted by positive shocks in the financial market to a greater extent. As a result, the researchers argued that gold and bitcoin have the potential for safe-haven or hedging assets against risks in the financial markets during the financial crisis. They maintained that cryptocurrency could significantly affect the global economy and the global financial markets. What is more, the researchers considered cryptocurrency a possible option to present fiat money and a better investment option for investors in terms of risk management, portfolio diversification strategy, and hedging. On the same note, Dierksmeier and Seele (2018) addressed the impact of blockchain technology on financial transactions from the standpoint of business ethics. During the study, the researchers recognized that cryptocurrencies have evolved since their emergence. Today, cryptocurrencies are considered an option or a threat to the traditional system of banking. They conducted a survey to determine the impact of blockchain technology on financial transactions. From an ethical standpoint, they argued that cryptocurrencies play a vital role in financial transactions, thus in the global financial market, the corporate world, and the global economy. Nguyen (2016) supported the above findings when he argued that blockchain technology could play a fundamental role in the sustainable growth and development of the corporate world and the global economy. The global acceptance and use of crypto-currency have significantly increased over the past few years as a result of the increased adoption and appreciation of technology. Today, several international organizations and markets fully recognize cryptocurrency as a medium of exchange. As such, the use of crypto-currency is slowly replacing the use of traditional money as a medium of exchange and as a means of storing wealth. The increased global acceptance and use of crypto-currency have significantly amplified its impacts in the global financial market, corporate world, and global economy. Various researchers have conducted studies aimed to advance the understanding of the impacts of crypto-currency in the global financial market, corporate world, and global economy. According to a study by Xia et al. (2020), one of the impacts of increased use of cryptocurrency is increased relevant scams. Xia and his colleagues agreed that many people and business organizations that use crypto-currency had lost a lot of money because of the increase in the number of scammers. The increased risks associated with crypto-currency have negatively impacted the faith that people have in the currency, which has subsequently minimized its success in the market. According to Xia et al., there are approximately 1,500 scam domains and more than 300 fake apps that increase the risk of using crypto-currency today. Also, Xia and his colleagues noted that several fake apps have been sneaked into the primary app market that compromises the security of using crypto-currency. The researchers concluded by stating an urgent need to identify and prevent crypto-currency scams. Kumar and Anandarao (2019) conducted a related study to assess how the volatility of the crypto-currency value and the underlying constant changes of crypto-currency mining characteristics impact the energy markets and utility companies. According to the authors, crypto-currency is a new development that can revolutionize the global economy. However, it must be exploited because it is associated with price volatility, making it not preferred by many people. The study results revealed that continued use of crypto-currency significantly impacts the energy sector. Consequently, using crypto-currency negatively impacts the global economy by introducing new risks and increasing the risks associated with the use of crypto-currency. Jani (2018) assessed the growth of cryptocurrency in India about the challenges and potential impacts of using cryptocurrency on legislation. Jani recognizes that the use of cryptocurrency had a significant global impact that forced countries to readjust their policies to accommodate the new currency's use. The researcher pointed out that one of the significant concerns regarding the use of cryptocurrency is the expectation of people regarding the future of cryptocurrency. While others believe that cryptocurrency is the future of all economic systems, others are of the opinion that the risks and challenges associated with cryptocurrency will negatively impact its use in the long run. According to Jani (2018), the risks associated with cryptocurrency use have forced various countries to respond through the development of regulations and legislation. The developed regulations and legislation ensure the safe use of cryptocurrency as a measure of value, a unit of accounting, and transactions. Choi (2020) conducted a study that assessed how supply chain agents might have different attitudes towards the use of cryptocurrency for transactions. The researchers noted that the use of cryptocurrency has significantly increased over the past few years. The study by Choi focused on building a stylized analytical three echelon supply chain model that is then used to analyze the issue of different risk attitudes that individuals develop towards the use of cryptocurrency. The three echelons considered by the researcher include when the supply chain agents are risk-neutral, risk-averse, and the risks associated with the volatility of cryptocurrency. Also, Choi (2020) noted that many people using cryptocurrency have incurred losses amounting to approximately $520,000.00 due to the risks associated with the use of cryptocurrency. As such, supply chain agents are increasingly losing faith in cryptocurrency. The researcher also noted that the use of cryptocurrency has a significant impact on consumer utility, which is a concern that must be addressed. The findings of the study by Choi also reveal that there is constant competition between different chains. The chain-to-chain competition inevitably leads to the volatility of the cryptocurrency, which makes people lose faith in it as a medium of exchange. Kyriazis (2019) wrote an article in the Journal of Risk and Financial Management that reviewed empirical results of relevant academic literature. Kyriazis conducted a survey to assess the spillovers in cryptocurrency markets. The study by Kyriazis revealed that bitcoin is one of the most influential cryptocurrencies as a transmitter. However, it is significantly impacted by spillovers from alternative assets. The researcher noted that volatility spillover is yet another factor that impacts the use of cryptocurrency. As such, cryptocurrency value and use are adversely affected in various countries. Also, the researcher noted that the volatility spillovers experienced by cryptocurrency inevitably leads to the development of new policies, which leads to uncertainty regarding the use and quality of cryptocurrency. As such, reforms and decentralization of financial systems are proposed by Kyriazis (2019) as a way of managing the volatility spillovers often experienced by cryptocurrency users. The results from the study by Kyriazis reveal that the use of cryptocurrency is widely adopted globally. However, due to the challenges it is associated with, many users might seek alternatives if rising issues are not addressed in real-time. Elsewhere, Albayati et al. (2020) conducted a study to estimate cryptocurrency usability for transactions. The study focused on investigating the behavioral elements that impact how customers view and appreciate blockchain-based cryptocurrency transactions. The researchers acknowledged that consumers do not readily accept and appreciate the use of new currencies that are digitally based because they are more used to the traditional currencies. The acceptance and appreciation of cryptocurrency are significantly impacted by people's beliefs and attitudes towards digital currency. Albayati and his colleagues proposed the use of a new integration model called the Technology Acceptance Model (TAM) and new external variables that significantly impact the acceptance, appreciation, and use of cryptocurrencies, such as trust, social influence, the experience of the users, and support from the regulatory bodies. The findings of Albayati et al. (2020) revealed that enhancing the support from regulatory bodies as well as the experience of using cryptocurrency is key to increasing the acceptance, use, and appreciation of cryptocurrency as a medium of exchange. Most of the study participants who were interviewed reported that they would readily use and appreciate the use of cryptocurrency if the local government can regulate and insure it. Therefore, the acceptance, use, and appreciation of cryptocurrency as a medium for transactions can be significantly increased if the government provides the necessary support to make it a success. The study results by Albayati et al. (2020) point out that government support is crucial for enhancing the acceptance and appreciation of cryptocurrency. The government can provide support by developing policies and regulations that regulate the use of cryptocurrency. Such regulations and policies would work because they enhance people's trust in digital currency. Treiblmaier et al. (2020) conducted an explanatory study of the Asian Pacific travelers to advance the understanding of the impacts of the use of cryptocurrency in the travel and tourism industry. Treiblmaier and his colleagues noted that the use of cryptocurrency in the tourism industry has significantly increased over the past few years due to the increased digitalization, use, acceptance, and appreciation of technology. However, the tourists' intention and their related assumptions regarding the use of cryptocurrency for transactions are not fully understood. To fill the gap in understanding, the researchers conducted an explanatory study that included 161 study participants randomly chosen from travelers from the Asia-Pacific region who have used cryptocurrency before. The researchers then analyzed their previous experience of using cryptocurrency for transactions. Some of the technological contingencies identified by the researchers included negative perceptions of people regarding the use of cryptocurrency and people's level of satisfaction. Such factors directly and significantly impact the acceptance, use, appreciation, and intention to reuse cryptocurrency as a medium for transactions among tourists. In a related study, Sami & Abdallah (2020) assessed the impacts of using cryptocurrency on the stock market returns in Gulf countries. According to Sami and Abdallah, it is unclear if the cryptocurrency market and stock market are substitutes or complements for various entrepreneurs. For their study, Sami and Abdallah compiled data on the stock market and cryptocurrency market from 2014 to 2019. The researchers used the Generalized Method of Moments with Instrumental Variable as their primary study strategy to fulfill their study objectives. According to the research findings, it is evident that investors view the cryptocurrency market and stock market in Gulf countries as close substitutes. In this respect, an increase in the use of cryptocurrency in the Gulf countries leads to a proportional decline in the stock market. Sami and Abdallah (2020) noted that a 10 percent increase in cryptocurrency returns could be associated with a 0.71 percent decline in the stock market. In this regard, it is fair to argue that the use of cryptocurrency, especially in the Gulf countries, directly and significantly impacts the returns that investors get from the stock market investments. To effectively deal with the impacts of cryptocurrency on the stock market, the researchers proposed that there is a need to introduce cryptocurrency as the primary determinant of stock market prices and returns. Ng and Griffin (2018) conducted a similar study to assess the impact of using a national cryptocurrency on the payment landscape in the mid-on increased global acceptance, use, and appreciation of cryptocurrency and interest from various banks. As noted by the authors, the information from the analysis of the impact of cryptocurrency on the payment landscape within a country is crucial to consumers, investors, banks, international money transfer service providers, central banks, and payment providers. Such information informs their decisions and ensures that they make the right decisions consistently. According to the researchers, the use of cryptocurrency is associated with risks and opportunities. As such, major economic players must develop a better understanding of the use of cryptocurrency and put in place effective strategies on how to deal with the risks posed by cryptocurrency and how to put in place measures for optimizing the exploitation of opportunities presented by their use. According to Ng and Griffin (2018), central banks play a crucial role in regulating the economic and financial matters that affect a country. As such, the central banks can play a significant role in ensuring that cryptocurrency is stable and trusted by the people by developing policies and regulations that regulate its use. The researchers proposed using a sandbox approach as an effective method of mitigating the risks associated with the use of cryptocurrency and inspiring the national acceptance, use, and appreciation of cryptocurrency. In a study on the equicorrelation dynamics among cryptocurrencies, Demiralay and Golitsis (2021) noted that the use of cryptocurrencies is significantly impacted by many factors, which must be controlled to enhance its local and global acceptance, use, and appreciation. The researchers used the Dynamic Equicorrelation Garch model for this study to assess the timevarying co-movements in the cryptocurrency market. The results of their study revealed that the equicorrelations vary with time and are very responsive to major local and global events, such as government regulations and policies, serious cyber-security issues, and global economic issues. In this regard, it can be argued that the outbreak of the global COVID-19 pandemic significantly impacted the global use of cryptocurrency, which in turn adversely affected the economic activities that rely on cryptocurrency. Demiralay and Golitsis (2021) noted that putting in place measures to avert risks associated with cryptocurrency use can significantly help increase the equicorrelations when the economy is impacted by other factors such as the COVID-19 global pandemic. The findings of this study also point out that market linkages also have a significant impact on the use of cryptocurrency. In this respect, it is evident that those who significantly rely on the use of cryptocurrency are adversely affected when there is a local or global event like the outbreak of the COVID-19 global pandemic. As such, the use of cryptocurrency faces constant risks because it is not known when such events as global pandemics and economic depressions are likely to impact the global and local economies. Elliott (2017) conducted a study to assess how the collection of cryptocurrency customer information impacts the personal privacy of cryptocurrency users and tax enforcement. The researchers noted that the use of cryptocurrency is associated with increased risk because it provides leeway for the invasion of the privacy of individuals and organizations. Also, some people associate the collection of cryptocurrency customer information with taxing enforcement mechanisms employed to ensure that tax collection is enhanced. As such, many people are against the use of cryptocurrency, citing increased exposure to such risks. The results of this particular study were reaffirmed by Li and Shen (2021). They conducted a study and found that increased technology development is likely to increase the risks associated with cryptocurrency use and investment. In a study on the impacts of using cryptocurrency following the introduction of the new altcoins, Nguyen et al. (2019) observed that the use of cryptocurrency is significantly impacted by new developments and changes, which inevitably increases the risks associated with cryptocurrency use. One of the concerns noted by the researchers is that the model used to predict the dynamics of cryptocurrency remains unknown to scholars, investors, and other cryptocurrency users. As such, people who use cryptocurrency regularly are always uncertain of the possible price formation of digital currency. The future unpredictability of the value of cryptocurrency implies that many people lose their trust in the digital currency, a phenomenon that negatively impacts the acceptance, use, and appreciation of cryptocurrency as a medium of exchange, unit of accounts, and means of storing wealth. It is without a doubt that not effectively addressing such concerns could lead to several people using cryptocurrency to face many risks with far-reaching consequences. Nguyen et al. (2019) used the Autoregressive Distributed-Lag (ARDL) estimations for their study. Their study results pointed out that introducing the new altcoin lowers the bitcoin returns by up to 0.7 percent, which can be considered very high since the average and median daily returns of bitcoin are usually o.63 and 0.27, respectively. The researchers also noted that the initial public offering negatively impacts the cryptocurrency market on existing stock prices. As such, it is clear that the introduction of altcoin reduces bitcoin returns. The finding suggests that cryptocurrency users face profound uncertainty because any change or new development in the cryptocurrency market is highly likely to impact returns significantly. Thomson (2020) also conducted a study aimed at assessing how government regulations can be used to help in minimizing the environmental and public health impacts associated with the mining of cryptocurrency. According to Thomson (2020), the increasing use of cryptocurrency has both positive and negative impacts on society. However, the negative impacts of using cryptocurrency are of serious concern because there is a constant need to mitigate the risks associated with such negative impacts. As noted by Thomson, one of the significant impacts of using cryptocurrency is the increasing global environmental degradation associated with cryptocurrencies' highly energy-intensive mining process. The increasing environmental pollution caused by the mining of cryptocurrencies has far-reaching negative social, economic, and health impacts on society. Thomson also noted that there are no effective policies and regulations developed to effectively mitigate the increased environmental pollution and degradation caused by pollution from cryptocurrency miners. As such, the pollution from such mines remains uncontrolled, which inevitably increases the risks associated with such high pollution levels. The researcher noted that one of the reasons why the local and federal governments are failing to develop policies aimed at minimizing the increasing pollution from cryptocurrency mining activities is the fear of depressing economic activities. Increased pollution from cryptocurrency mining activities poses far-reaching severe economic, social, and health risks that should be mitigated in order to ensure that there is a safe use of the digital currency. San et al. (2019) studied the potentials and the impacts of using blockchain technology in the construction industry. Blockchain is one of the common cryptocurrencies that is widely used and accepted. In particular, blockchain technology has been widely used in the construction industry for transactional purposes. However, its use in the construction industry has been farreaching and impacting other industries as well. As such, there is a need to develop a better understanding of such impacts and potentials of continuous use of blockchain technology. The article by San and his colleagues stand in the gap by providing necessary information regarding the potentials and implication of continued use of blockchain technology. San et al. (2019) noted that blockchain technology has unique features that impact its use in the construction industry. As a result of its unique features coupled with the fact that its use is relatively new in the construction industry, its use poses serious risks that must be identified, understood, and dealt with in real-time to ensure that the use of the technology is a success in the construction industry. Also, the construction industry usually lacks professionals who are well versed with cryptocurrency issues. As such, there are increased risks associated with its use in the industry. Hence, the researchers propose that there is a need for intensive consultations to mitigate the risks associated with cryptocurrency use in the construction industry. Casey et al. (2018) agreed with the above findings when they stated that cryptocurrencies could change the entire financial sector. By the same token, Xi et al. (2020) conducted a study to investigate investors' behavior in cryptocurrency. Xi and his colleagues identified that there are socio-demographic characteristics that individuals who invest in cryptocurrency exhibit. Such socio-demographic characteristics have a significant impact on the way people view and appreciate the use of cryptocurrency. In their study, Xi et al. (2020) used a web-based survey among Australian and Chinese cryptocurrency investors. The researchers also applied the Multinomial Logit model for the study to analyze the behavior of the cryptocurrency investors inferentially. Some of the factors that the researchers identified impacting the behavior of cryptocurrency investors include age, gender, education level, occupation, and level of experience in the cryptocurrency investment business. In addition, the researchers identified that cryptocurrency investors have different behaviors, which depend on their culture, norms, and practices. There is a significant difference in the way Chinese and Australian cryptocurrency investors behave in the market. As such, the global use of cryptocurrency is likely to enhance diversity in the market. However, the difference in behaviors of cryptocurrency investors from different parts of the world presents a challenge of uncertainty that must be addressed to ensure that digital currency use is a success globally. The study findings of Xi and his colleagues were reaffirmed by Li et al. (2020), who argued that there are risks associated with the heterogeneity in the cryptocurrency market. According to Li et al. (2020), there is a significant risk connectedness across various cryptocurrencies used in the market. The study results reveal that when there is an upward risk tendency and a constant spillover direction under both risk tendencies, there is an increased likelihood of the difference in trading volume that causes it. As such, the introduction of new cryptocurrencies in the market is likely to pose a challenge that investors must be ready to deal with. Correspondingly, Nguyen et al. (2020) used a LASSO quantile regression approach to investigate the tail-risk dependence in the cryptocurrency markets. The researchers mapped the entire network of tail risk dependence of 21 major cryptocurrencies. The results suggested that Bitcoin and Litecoin are the major drivers of tail risk, especially when the cryptocurrency markets are bullish. Also, the major drivers of tail risk when the cryptocurrency markets are bearish were Ethereum and Ethereum classic. The findings of Nguyen and his colleagues were reaffirmed by Bouri et al. (2021) when they reaffirmed an instability of systems connected under extreme events, which impacts cryptocurrencies. The impact is more profound because there is a quantile connectedness in the return of leading cryptocurrencies. Databases Accessed and the Search Engines used The search strategy that I employed to select the most appropriate literature involved using different search terms by limiting myself to a particular period and going through different databases. For instance, some of the databases that I accessed during the literature search include ScienceDirect, Cochrane Library, UpToDate, Directory of Open Access Journals, the Public Library of Science, and Web Science. I also used specific search engines during the process of looking for relevant literature. The specific search engine that I used is Google. Besides, I used various search terms to arrive at the sources. Key among the search terms used include cryptocurrency, blockchain, bitcoin, blockchain technology, investors' knowledge of cryptocurrencies, the U.S. financial market and cryptocurrencies, and the impact of cryptocurrencies on the global economy. The search parameters involved limiting myself to a particular period. For instance, I limited myself between the years 2015 and 2021. My parameters were the year of publication, credibility, and relevance. Hence, I excluded those sources that were written before 2015. Also, I excluded the literature that was not relevant and credible. Summary In the recent past, the cryptocurrency market has witnessed dramatic growth due to the growing acceptance of cryptocurrency in various parts of the world and across diverse sectors and industries. Cryptocurrency is the latest trend in the global economy and the financial sector caused by present transformations in the financial system. Over the past few decades, cryptocurrency began out as some strange technological experiment for economic fanatics. Nonetheless, cryptocurrency has today evolved into a real gamechanger. Although cryptocurrency has significantly evolved over the years, there exists a significant gap in literature because most availa