The Surge of Cryptocurrency in the Asia Pacific Economic Countries

Abstract

Crypto currencies are computerized web based traded coupons. They are part of a block-chain technology system, which has procured admiration globally. It utilizes cryptographic scrips and sophisticated marks to assess exchanges. It preserves a strategic detachment from dual outlay of the analogous coins. This notion gave the world an intuition of operations without the intervention of a regulatory body, thus bringing down the transaction cost to its minimum. There is a dare need to better understand and utilize crypto currencies to its fullest potential. The prime purpose of this paper is to explore the financial and non-financial factors that corollaries the prices of these digital currencies in the Asia Pacific Economic Countries (APEC). This paper has explored the crypto currency attractive efficacy and the macroeconomic viability with its price. The significant relationship between the various components have disclosed the prominence of the cryptocurrency in the economic growth of the countries. The study is of significant help in identifying the components that can help in stabilizing the extreme volatility associated with cryptocurrencies. This paper is of prime importance for the legislators in identifying the law-giving areas, for the improved secured future economy.