Decoding Digital Devotion: How Young Adults Think About Currency Options
Restricted (Penn State Only)
- Author:
- Patel, Khushi
- Area of Honors:
- Management Information Systems
- Degree:
- Bachelor of Science
- Document Type:
- Thesis
- Thesis Supervisors:
- Dr. A Jones, Thesis Supervisor
Saurabh Bansal, Thesis Honors Advisor - Keywords:
- Cryptocurrency
Blockchain
Bitcoin
evolution of money
digital wallet - Abstract:
- This paper traces the historical evolution of money from ancient bartering systems to the advent of digital currencies, highlighting the transformative journey of financial instruments through time. The study delves into the economic, technological, and social dynamics that have driven these changes by examining the transition from tangible assets like livestock and metals to sophisticated digital forms such as cryptocurrencies. Particular emphasis is placed on the impact of these transformations on young adults. This demographic has shown a marked shift in financial behavior and perceptions, particularly towards cryptocurrencies like Bitcoin. The research underscores the dual nature of cryptocurrencies, balancing their potential for decentralization, financial inclusion, and transactional efficiency against challenges like volatility, regulatory uncertainty, and environmental concerns. Through a detailed literature review and empirical analysis, the paper explores how technological proficiency, economic perspectives, and societal influences intersect to shape young adults' adoption and perception of digital currencies. It discusses the broader implications of this shift for the global financial system, considering both the opportunities and hurdles of digital financial innovations. This comprehensive exploration illuminates the historical and contemporary aspects of money's evolution and anticipates the future trajectory of economic exchanges in an increasingly digitalized world.