Emergence of Crypto Currency and the Digital Financial Landscape

Abstract

The reality of the new normal induced by the pandemic has resulted in a radical transformation of the financial sector, where it is undergoing a dramatic digital change. With this backdrop, the purpose of this study is conceptualizing the role of crypto currencies and the effects on the digital financial (DiFi) landscape in India and worldwide. It has led to disruptive technological innovation and accelerated change in the financial system. In this light, the present study attempts to highlight the different digital initiatives undertaken by various developed and developing countries and the pros and cons associated with the same. This research study shall serve as a primer to demonstrate the effects of use of digitalization and technology-enabled initiatives for crypto currencies and is also aimed to encapsulate the restraining and facilitating forces that drive adoption of digital financial models and the hybrid role of government as we usher in the new financial landscape.