S&P Global Ratings: The Future of Cryptocurrency

S&P Global Ratings: The Future of Cryptocurrency

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February 20, 2018 by Bitzamp
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S&P Global Ratings: The Future of Cryptocurrency S & P Global Ratings published in the report on Monday, February 19, entitled “The Future of Banking”. S & P Global rating details the possibilities for the future of cryptocurrency, stating that retail investors, will be more affected if a crash takes place. The report, “Cryptocurrency will
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S&P Global Ratings: The Future of Cryptocurrency
S & P Global Ratings published in the report on Monday, February 19, entitled “The Future of Banking”. S & P Global rating details the possibilities for the future of cryptocurrency, stating that retail investors, will be more affected if a crash takes place.

The report, “Cryptocurrency will not disrupt financial markets for now”, has been found on the cryptocurrency market and has no impact on the credit worthiness of rated financial institutions or the stability of the banking sector.
S & P said cryptocurrencies have attracted considerable market attention in the last 12 months. Mohamed Damak , S & P Overall Ratings head of Financial Institutions Sector said:

“For now, a significant decline in the market value of cryptocurrencies would be a wave in the financial services sector, still too weak to disrupt stability or affect the creditworthiness of the banks we evaluate”.

If cryptos become an asset class, the impact on money services businesses will be more gradual. “We believe that the future success of cryptos will largely depend on coordinating regulators and policymakers to regulate and build market confidence in these instruments,” added Dr. Damak.

At the same time, however, blockchain technology, which underpins cryptocurrencies and allows the creation of a shared digital transaction, could positively disrupt the various financial value chains. If successfully adopted, the blockchain could have a significant and lasting impact on the speed, trace-ability and cost of financial transactions.

The financial market infrastructure segment could be one of the following factors, such as futures or exchanges based on cryptocurrencies, or the replacement of current practices with news ones on the blockchain.


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