Based on the discussion mentioned
above it is concluded that the upcoming Cryptocurrencies have a positive impact
on the financial industry. However, the response of the financial sector
towards Cryptocurrencies varies around the globe and overtime. In this writing,
the reaction of banks is viewed concerning the growing craze of
Cryptocurrencies. It is essential to understand the current, and future
response of banks toward Cryptocurrencies as the banks are controlling
substantial institutional capital and leverage. The shift towards the
decentralized currency systems is raising lots of question about the future
economy. Due to the limited supply, the
Cryptocurrencies will become deflationary currencies similar to the tokens
exist the amount due to mistyped transaction requestor loss of private keys. No
one knows about the future impact of the entirely deflationary and
decentralized financial system. Following this uncertain future associated with
Cryptocurrencies majority of companies and consumer around the world trust the
central banks and prefers to use fiat currency to ensure economic stability.