Digital currencies and their impact on achieving sustainable competitive advantage in the banking services sector: a future vision and development scenarios

Abstract

Purpose of the study:

This study aims to understand the impact of digital currencies on achieving sustainable competitive advantage in the banking services sector, in addition to exploring future scenarios for development in this context.

Introduction to the study:

Cryptocurrencies are an important development in financial services, presenting new opportunities and different challenges for banks and financial institutions. Considering the adoption of these currencies requires careful analysis of the potential impacts on the competitive advantage and future development of the banking sector.

the importance of studying:

This study is important to understand how digital currencies affect competitive advantage in the banking services sector, and to provide future scenarios for the development of this sector in a more comprehensive and effective way.

Theoretical results:

Theoretical results showed that the adoption of digital currencies in the banking sector can lead to structural and qualitative changes in financial and administrative processes, affecting the competitive advantage of banks.

Practical results:

Practical results have shown that digital currencies play an important role in improving efficiency and effectiveness in payment and transfer processes, and providing fast and flexible financial services, which enhances the competitive advantage of financial institutions.

Most important conclusions:

Based on the results, it can be concluded that the adoption of digital currencies may have a significant impact on the competitive advantage of banks, and the research indicates the importance of developing future strategies that take these factors into account.

Most important recommendations:

Based on the conclusions, it is recommended that modernization strategies should be developed that include the effective use of digital currencies in financial operations and settlements, and identify areas of innovation and development of financial services to improve financial advantage.