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Data for today’s episode is provided by Mercator Advisory Group’s Viewpoint: Cryptocurrency Landscape Overview
The Current Cryptocurrency Payments Landscape:
- The subject of cryptocurrency remains somewhat confounding for those in the payments industry.
- Lagging confidence and innovation within the space can be largely attributed to a lack of regulatory guidance.
- Other reasons include an imperfect knowledge of the underlying technology, the multiplicity of crypto assets, and a dizzying array of possibilities.
- The crypto space includes permissionless, open-loop currencies such as Bitcoin & Ethereum, with no centralized controlling entity.
- There are also decentralized cryptos that require permission to participate in a closed-loop network for specific use cases, like XRP from Ripple.
- A third category of cryptocurrencies are hybrids that peg their value to a specific fiat currency. These are often referred to as stablecoins.
About Report
After the initial hype, and the inevitable slump, cryptocurrencies are once again gaining mainstream attention.
The ecosystem of cryptocurrencies and their various methods of implementation, with new products and services as well as intensified interest on the part of central banks, again moves the blockchain currency to the center of attention.