target audience: TECH BUYER Publication date: Jan 2023 - Document type: IDC Perspective - Doc Document number: # AP49986222
Cryptocurrency — Technological Developments and Enterprise Adoption
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Abstract
This IDC Perspective analyzes notable cryptocurrencies in the market through differences in their structure, product design, and technological underpinning. This report also explores notable developments around the cryptocurrency technology to overcome limitations prevalent in its legacy infrastructure and cater to the current and future requirements of the market. Further, the report charts enterprise adoption and crypto-driven product strategies across payments, lending, and corporate services.
"Despite downturns in the overall cryptocurrency market, we are seeing genuine interest from enterprises and businesses to continue adopting crypto as an alternative payment method and as a medium of value transfer being embedded in their operations," said Muhammad Adam Kamarul Zaman, market analyst, IDC Financial Insights Asia/Pacific. "The regulatory shifts worldwide and the continuing technological innovation in cryptocurrency present a big opportunity for the creation of the next-generation financial ecosystem, business models, and institutional partnerships," he added.