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The topic I researched for the research analysis essay final paper is finance. Finance is my area of interest because it touches on my personal and professional life. My narrowed topic focuses on cryptocurrency, an emerging disruptive technology in the world of finance. Cryptocurrency is becoming more popular, making many people ponder over considering it as a legal tender. Therefore, my narrowed topic focuses on the sustainability of cryptocurrency as a legal tender. The subject explores whether cryptocurrencies, such as bitcoin, can be used for formal legal tendering. The reason for researching the narrowed topic above is because cryptocurrencies have high volatility. The value of cryptocurrencies can change by a large margin in a single day. Therefore, my specific research question is, does the volatility of cryptocurrency make it reliable for legal tendering?
The finance topic is relevant to my career because finance affects every aspect of life and my career in the business world. Finance is critical in business because business managers have to monitor their firms’ financial performance to ensure they run on track. Disruptive technologies in finance, such as crypto, must be monitored for potential opportunities in the business world. Also, the technologies must be monitored for potential threats in the business environment. Therefore, the topic will equip me with relevant knowledge about the importance of crypto in the future of business finance operations.
The three sources I have located using keyword search include:
Weking, J., Mandalenakis, M., Hein, A., Hermes, S., Bohm, M., & Krcmar, H. (2020). The Impact of Blockchain Technology on Business Models – Taxonomy and Archetypal Patterns. Electronic Markets, 30, 285-305. https://link.springer.com/article/10.1007/s12525-019-00386-3
Giudici, G., Milne, A., & Vinogradov, D. (2020). Cryptocurrencies: Market Analysis and Perspectives. Journal of Industrial and Business Economics, 47, 1-18. https://link.springer.com/article/10.1007/s40812-019-00138-6
Polasik, M., Piotrowska, A., Wisniewski, P. T., Kotkowski, R., & Lightfoot, G. (2015). Price Fluctuations ad the Use of Bitcoin: An Empirical Inquiry. International Journal of Electronic Commerce, 20(1), 9-49. https://doi.org/10.1080/10864415.2016.1061413
The articles identified above address the effect of Blockchain technologies on business models, markets, and prices. The impact of blockchain technology, which gives rise to cryptocurrency, will disrupt business organizations in the future because many businesses are considering their use. Therefore, I must be prepared as a business administrator to help my business organization navigate the financial implications of cryptocurrency’s introduction and use in the business world.