The Future Of Crypto-Assets: Examining Consumer, Cybersecurity, And Privacy Risks

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Saturday, December 1, 2018
Author: 
Mahlet Makonnen
Volume: 
34
Issue: 
12
Abstract: 

The future of crypto-assets has captured the attention of investors, consumers, global financial institutions, and regulators. On January 8, 2018, crypto-assets reached an estimated total market capitalization of $830 billion. Currently, crypto-assets only account for a small piece of the global financial system, but markets are changing rapidly. Researchers estimate the amount of cryptoasset market value needed to support economic activities to expand from an estimated $500 billion next year to $3.6 trillion in 2028. More than 90% of cryptoasset value will be derived from penetration of offshore deposits in the next decade. In the face of the growth of cryptoasset trading platforms, the introduction of new financial products, and the growing interest by investors, private and public institution must evaluate the implications of consumer, cybersecurity, and privacy risks.