Alternative Currencies: Are Cryptocurrencies Ready for Prime Time?

Research from Mercator Advisory Group titled Alternative Currencies: Are Cryptocurrencies Ready for Prime Time? identifies and discusses several of the central concepts underlying cryptocurrencies and their marketplace potential. Bitcoin, easily the most recognizable of the digital currencies has generated a fair share of controversy as is not the only cryptocurrency garnering some scandalous headlines. The research note provides a nontechnical guide to competing cryptocurrencies and support services to help businesses to understand the implications and potential impacts of wider use of cryptocurrencies.

“Cryptocurrency continues to evolve, shaping itself to the rapidly shifting needs of markets,” said Joseph Walent, Senior Analyst, Emerging Technologies Advisory Service and author of the note. “As communication technologies have made our world increasingly interconnected, the need for means to support transactions taking place across borders in an expeditious manner with partners previously unknown has grown significantly. Cryptocurrencies offer the promise of digital cash, with many of its characteristics, good and bad. The market may fork in in coming years, with both government-sanctioned cryptocurrencies and private cryptocurrencies operating simultaneously to meet different market demands.”

This note is 8 pages long and has 2 exhibits.