The research aims to collect data and factor in how feasible it is to incorporate the concept of crypto currencies into the existing fiat currency system. How likely it is that cryptocurrencies will become widely accepted as a means of payment in the near future, and what effect this will have on economies, governments, financial systems, and individual consumers? The impact on current transaction practices and the modifications that might be necessary to the existing system will also be evaluated. The role of digital currencies in the development of marketing strategies will also be investigated.
Key words: crypto currency, fiat currency, legal tender, financial system and digital currencies.
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