A Study on the Factors Influencing Cryptocurrencies Emergence on the Banks in Malaysia

Authors

  • Sharafunnisa Binti Ebramsha

Abstract

Emergence of cryptocurrency has been an important issue to look at the current generation. Due to the rapid development of information and communication technologies, many activities in our daily life have been merged online and they become more flexible and more effective. A huge growth in number of online users has activated virtual word concepts and created a new business phenomenon which is cryptocurrency to facilitate the financial activities indirectly replacing the activities by the Central banks. The use of virtual currency has become widespread in many different systems in recent years. This paper investigates the bank employees’ view on the cryptocurrency emergence towards the commercial banks. It also explores the factors influencing the banks in general and how the cryptocurrency emergence can contribute to those factors in replacing the current currency issued by the Central Banks. The paper also analyses the way in which 8 different local commercial bank employees have responded in terms of emergence of cryptocurrencies towards the commercial banks to develop a clear picture of its impact on various factors in commercial banks in Malaysia.

 Keywords: Cryptocurrency, Inflation Rate policy, Monetary policy.

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Published

2020-01-04

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Section

Articles