Digital Currencies as a Strategy for Market Intelligence: a theoretical essay

Abstract

Objective: The article discusses a new financial transaction still little known of a large part of the population, including accounting professionals, even after 10 years of its creation. This research aimed at discussing the intelligence of the use of cryptocurrencies in business, in the present "Digital Currency Era", under the perspective of being a competitive advantage taking the opportunities and their potentialities, which have been causinga revolution in the market, and significant challenges to professionals and accounting systems.

Method: A theoretical essay was carried out considering scientific and professional publications, both nationally and internationally, and presenting a discussion about the main usability and application points of cryptocurrencies as a strategy of competitive advantage.

Main Results: The research highlights the growing evolution of the digital currency – cryptocurrencies -, which surpassed paradigms and has been consolidated as the control bodies start to standardize it. Its application is also growing as a means of exchange and a store of value, with a relevant impact on the number of transactions and their valuation. From the discussed argumentation, it became clear that the adoption of cryptocurrencies in business can represent a significant competitive advantage. In a world increasingly digital and dependent on electronic media, digital currency is taking its place.

Contributions and Relevance: This essay revealed the cryptocurrencies’ creation process, its functioning and usefulness, which can facilitate this technology acceptability by users. It also demonstrates that cryptocurrencies present significant challenges for newcomers to these mechanisms, but for them it implies great strategic potential in an increasingly technological market.