According to data from research company PricewaterhouseCoopers, cryptocurrencies gained acceptance from a critical mass of investors, technologists, regulators, merchants, entrepreneurs and consumers and these have the potential to disrupt conventional market strategies, longstanding business practices, and established regulatory perspectives, all to the benefit of consumers and broader macroeconomic efficiency.
The study, entitled “Money is no object: Understanding the evolving cryptocurrency market” also indicates that cryptocurrency will not reach its true market potential unless and until it develops in harmony with applicable regulations. However, findings also show that this could be a difficult feat since government attitudes toward cryptocurrency are inconsistent, evolving at different paces in different regions.
The PwC research aims to be a primer for businesses and investors with a limited understanding of cryptocurrencies. Apart from discussing Bitcoin developments, the paper also gives a brief introduction on cryptocurrencies and the underlying blockchain technology.
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