Authors :
Hina Riaz; Muhammad Jamil; Madiha Zahir Khan; Muhammad Younis; Muhammad Farhan Ali; Muhammad Haris Sarfaraz
Volume/Issue :
Volume 8 - 2023, Issue 4 - April
Google Scholar :
https://bit.ly/3TmGbDi
Scribd :
https://bit.ly/44sNhLA
DOI :
https://doi.org/10.5281/zenodo.7896431
Abstract :
Bitcoin is the most commonly supported
cryptocurrency used during transactions with these
systems, and some gateways provide the ability to pay
with alternative cryptocurrencies like an emerging
stablecoin. In the past year, USD-pegged stablecoins
circulating on public blockchains have seen an explosive
growth. Stablecoin is a type of decentralized payment
system that is new and under studied to make
meaningful predictions. The effect of stablecoin adoption
on traditional banking and credit provision depends on
the source of inflows and the composition of stablecoin
reserves. A two-tiered banking system can support both
stablecoin issuance and traditional forms of credit
creation. In this paper, we present the comprehensive
summary of effects of blockchain on stablecoin as a
global payment method. I investigated the different use
cases and their affects/role to the global accuracy
graphs. After that, we discussed the different challenges
that can affect the implementation of stablecoin as a
global payment system. Finally, we drew open research
directions for building future researches in conclusion.
Keywords :
Stablecoins, Cryptocurrency, Blockchain, Decentralized Payment Systems.
Bitcoin is the most commonly supported
cryptocurrency used during transactions with these
systems, and some gateways provide the ability to pay
with alternative cryptocurrencies like an emerging
stablecoin. In the past year, USD-pegged stablecoins
circulating on public blockchains have seen an explosive
growth. Stablecoin is a type of decentralized payment
system that is new and under studied to make
meaningful predictions. The effect of stablecoin adoption
on traditional banking and credit provision depends on
the source of inflows and the composition of stablecoin
reserves. A two-tiered banking system can support both
stablecoin issuance and traditional forms of credit
creation. In this paper, we present the comprehensive
summary of effects of blockchain on stablecoin as a
global payment method. I investigated the different use
cases and their affects/role to the global accuracy
graphs. After that, we discussed the different challenges
that can affect the implementation of stablecoin as a
global payment system. Finally, we drew open research
directions for building future researches in conclusion.
Keywords :
Stablecoins, Cryptocurrency, Blockchain, Decentralized Payment Systems.
