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Different Types of Digital Currency and Their Impact on the Financial Industry| Infiniti Research

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Infiniti Research, a world-renowned market intelligence solutions
provider, has announced the completion of their latest article on the different
types of digital currency and their impact on the financial industry
.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180810005169/en/

Top 4 Types of Digital Currency and Their Impact on the Financial Industry. (Graphic: Business Wire)

Top 4 Types of Digital Currency and Their Impact on the Financial Industry. (Graphic: Business Wire)

At present, there is a very small number of users who prefer digital
currency. The outline for its regulation and the tax structure to
control digital currency is still developing. It has two types, namely
virtual currency and cryptocurrencies. Digital currency enables direct
payments between payees and payors and eliminates infrastructure costs,
intermediaries, and processing costs. It also allows the easy and
transparent flow of funds.

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Digital currency is a payment method which exists only in the electronic
form. Digital money has many advantages linked with it like easy and
timely payments and smaller transaction costs. The acceptance of digital
currency by the financial industry is less due to risk factors such as
identification of payment beneficiary, volatility of currency,
regulatory compliance, and transaction risks.

"Digital currency helps companies in the financial industry to
eliminate the risk of exposure since they are highly secure,"
says
an industry expert from
Infiniti.

Digital Currency List:

  • Bitcoin: This type of currency was launched in the year 2010
    and since then it has earned huge popularity as a cryptocurrency. Even
    though bitcoin is becoming prevalent since the time it has been
    introduced, it also has suffered a few disadvantages in the past few
    years like its shooting transaction costs. To know more about our
    solutions
    , get
    in touch
  • Ethereum (ETH): Ethereum was launched in 2015, it has got its
    strength from its development team. It depends on the blockchain
    technology and has pooled a crowd of famous institutions, investors,
    and also some of the well-known corporations like BP, Toyota, Intel,
    and Microsoft. To read the complete list of the types of digital
    currency
    , request
    a proposal

Impact of digital currency on the financial
industry:

  • Increase in efficiency: The use of digital currency will
    upsurge the effectiveness of the financial industry by making payments
    faster, easier, and most prominently more secure. The businesses in
    the financial industry will clearly witness many benefits from the use
    of this technology.
  • The effective alternative for unstable economies: Even though
    digital currency has not been accepted extensively, its use in
    countries like Venezuela where Bitcoin looked to be more stable than
    its national currency at the time of high inflation, shows that it can
    be an effective substitute for hard cash in the future. Get
    in touch
    , to know more about the impact of digital currency
    on the financial industry

Infiniti Research is a global market intelligence company offering
strategic insights to help look beyond market disruptions, study
competitive activity, and develop intelligent business strategies.
Listed below are the different types of digital currency and their
impact on the financial industry.

View the complete list of the different types of digital currency and
their impact on the financial industry:

https://www.infinitiresearch.com/thoughts/digital-currency-financial-industry

About Infiniti Research

Established in 2003, Infiniti Research is a leading market intelligence
company providing smart solutions to address your business challenges.
Infiniti Research studies markets in more than 100 countries to help
analyze competitive activity, see beyond market disruptions, and develop
intelligent business strategies.

With 15+ years of experience and offices across three continents,
Infiniti Research has been instrumental in providing a complete range of
competitive intelligence, strategy, and research services for over 550
companies across the globe.

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