Cryptocurrency adoption by financial services will be helped by a combination of improving technologies, increased user acceptance/adoption as well as standards and regulatory frameworks that are becoming more attuned to the specific risks and opportunities presented by traditional technologies.
In the first section of this report, the analyst looks at the various elements & parties involved in the cryptocurrency market with a brief history, the related technologies, i.e. Blockchain and their role in the functioning of cryptocurrencies. The analyst also looks at the key players in the cryptocurrency market.
In the second section, in addition to reviewing the current industry adoption with key market drivers & constraints, the analyst also looks at practical examples of financial services firms (Banks, Insurance companies, Fintechs & Assets management firms) that use cryptocurrencies to deal with specific use cases.
In the third section, the analyst looks at a framework & considerations for building a competent Blockchain and cryptocurrency with use cases. Furthermore, the analyst also reviewed challenges and factors to be considered while evaluating a cryptocurrency framework.
In the fourth & fifth section, the analyst reviewed various cryptocurrency standards and standard-developing committees such as CCSS standards. Furthermore, the analyst captured major Cryptocurrency laws and regulatory status in Europe, the UK, and the US.
In the sixth & seventh section, the analyst mentioned the most striking future trends of Cryptocurrency, which will transform the Financial Services Sector. The analyst then looked at the leading Cryptocurrency use cases, which include a brief about their technology, future potential, and use cases.
Who Should Read this Report?
- Chief Information officer
- Chief Technology Officer
- Security Analyst
- Business Analyst
- Chief Operating officer
- Fintech business leader
1 Cryptocurrencies: A Brief Overview
1.1 Blockchain: The Underlying Technology
1.2 Core Components of Cryptocurrency
1.3 Classification of Cryptocurrencies
1.4 Cryptocurrency Market Participants
1.5 Cryptocurrencies in Financial Services
2 State of the Industry (Key Market Drivers & Restraints, Adoption)
2.1 Key Market Drivers
2.2 Key Market Restraints
2.3 Cryptocurrency in Traditional Banking
2.4 Cryptocurrency and Insurance
2.5 Cryptocurrency and Fintech
2.6 Cryptocurrency and Asset Management/Investment Banking
3 Framework/Considerations for Use/Evaluation and Implementation
3.1 Cryptocurrency Framework
3.2 Cryptocurrency Ecosystem
3.3 How to Create a Cryptocurrency
3.4 The Challenges of Cryptocurrency
4 Cryptocurrency Standards
4.1 CryptoCurrency Security Standard (CCSS)
5 Cryptocurrency and the Law
5.1 EU Region
5.2 UK Region
5.3 US Region
6 The Future of Cryptocurrency
7 Leading Cryptocurrencies
List of Tables and Figures
Annex 1: A Brief History of Cryptocurrency
Annex 2: List of Sources
Figure 1 - Different Currency Systems
Figure 2 - Cryptocurrencies Beyond Bitcoin
Figure 3 - How Blockchain Technology Works
Figure 4 - Types of Blockchain
Figure 5 - Potential Uses of Blockchain in the financial services industry
Figure 6 - Classification of Cryptoassets
Figure 7 - Cryptocurrency Transfer Vs Traditional Bank transfer
Figure 8 - Insurance Blockchain Framework
Figure 9 - How Cryptocurrency Works?
Figure 10 - Cryptocurrency Ecosystem
Figure 11 - High-level summary of cryptocurrency risks and challenges
Figure 12 - Cryptocurrency Security Standard Checklist
Figure 13 - Existing Payment Methods Vs. Facebook Libra Blockchain
Table 1 - Areas of Opportunity in the Insurance Value Chain
Table 2 - Cryptocurrency Industry Sectors & Functions
- Bitcoin Cash
- Citi Bank
- Facebook Libra
- Fidelity Investments
- Goldman Sachs
- JP Morgan
- Liberty Insurance
- Standard Chartered
- The United Services Automobile Association (USAA)