The Role of Cryptocurrency in Developing Countries: A Comparative Study of its Impact on Economic Growth and Stability

Abstract

This research thesis provides a comprehensive literature review of the impact of cryptocurrency on developing countries, focusing on its potential benefits for economic growth and stability. The study highlights the impact of cryptocurrency on countries, with a specific focus on the reasons why certain countries, such as Thailand, Nigeria, Philippines, Turkey, and Argentina, invest more in cryptocurrency than others. The study also examines the impact of cryptocurrency on countries with developed and emerging economies, highlighting how cryptocurrency can serve as an alternative to traditional remittances and potentially fight hyperinflation in developing countries. Additionally, the thesis discusses the potential of cryptocurrency as a tool for fighting hyperinflation and serving as an alternative to traditional remittances, which are crucial for economic growth in developing countries. The study also analyzes investment trends and motivational factors related to cryptocurrency, including the speed of increase in cryptocurrency value and the high volatility of cryptocurrency for speculative trading. Overall, this research contributes to the current understanding of the impact of cryptocurrency on both developed and emerging countries and sheds light on its potential benefits for economic growth and stability.