CHAPTER 5

CONCLUSION AND RECOMMENDATION

5.0 Introduction

There are two main objectives of this research which are brings to impact of
cryptocurrency usage toward digital finance technology. To achieve the objective of this
study, the researcher has selected Luno company to conduct this case study. The findings
have already been discussed in the previous chapter and will be concluded in this chapter. In
addition, the researcher proposed a new conceptual framework based on the findings of the
study. The concluding section of this chapter also includes future recommendations for
further research.

5.1 Research Objective 1:

In this research, the objective of the first study is to determine whether the
characteristics required can determined on how Luno use the cryptocurrency in their
company. Discussing with the characteristic at the beginning can show us ion how properly
cryptocurrency work in Luno company .

The research refer to chapter 4 where the Luno itself is the platform for
cryptocurrency to make it work. as the for research, cryptocurrency itself cannot been doing
by their self. It must be have a platform to exactly exist their data. The conversion of
cryptocurrencies for conventional fiat cash is made possible via a platform for cryptocurrency
trading. With the debut of a decentralised cryptocurrency named Bitcoin in 2009, businesses
that run exchange platforms were born. Since then, a large number of other cryptocurrencies
have been introduced, including the second-most well-known one, Ether, which powers
Ethereum, and Bitcoin Cash, which was produced through a Bitcoin Hard Fork.

Based on the discussion of qualitative findings in the previous chapter. Luno is a

digital currency exchange facility that offers clients a technology platform to buy, sell and
store digital currencies as well as pay for products and services using a cryptocurrency wallet.
Digital currency is also known as a cryptocurrency and the two most famous examples are
Bitcoin and Ether, the latter being the digital currency used to power Ethereum.

In summary, the first research objective has been achieved with the core characteristics
that determine on how Luno company use cryptocurrency technology toward digital finance
usage. Referring to the discussion on the characteristics it can be concluded that the
characteristics in first objective is a whole game changer for the world of digital finance.
Complexity on their network, work, technology make the cryptocurrency is the future of the
digital finance and slowly take over the traditional ways.
5.2 Research Objective 2:

The impact of cryptocurrency on company in digital finance bring a few changes in

dimension of digital finance. In this study, the researcher emphasized that a few point that
lead to impact is the turning point for the digital finance usage in company such as their
usage, transaction and the security. The important of changes or the impact can be seen to
delivery the real intention of cryptocurrency which is to become domain in digital finance
instead of traditional digital finance structure and network.

The network that been construct on cryptocurrency powered by or the main system
which is blockchain such a complex and secure in term of their network and much faster and
rather than the old system. Centralization is the main distinction between a blockchain and a
database. On a blockchain, each participant has a safe copy of every record and every update,
so each user can see the provenance of the data, whereas all records secured on a database are
centrally located. Since each member keeps a copy of the data, blockchain technology works
its magic whenever there is a discrepancy by instantly identifying and correcting any
inaccurate information. Even if a third party purposefully modified your friend's watch's time
so they would be late, the timing would quickly be checked against everyone else and
adjusted for daylight saving time (IBM, 2020)

A point that been discussed in the previous chapter explain that cryptocurrency offer
much more in term of technology. Additional, when it come to the money, people or user will
looked or concern about the security. How safe their money will become their main priority
but certain people look over on how much useable the system is. Cryptocurrency have a
standard on their security level because of their complexity on their network. In other way
accessibility. By incorporating blockchain technology into the data process, you eliminate the
DBA as the single point of failure and make sure that any changes made by one member are
promptly reversed by the other participants. The unchangeable record of modifications will
also show which person attempted to make the change once the data automatically corrects
itself. A firm may trust the data supplied by rivals as well as the data shared by the companies
with whom it is doing business if the data process is safe (amanda, 2022).
5.2 Contribution of Study

Numerous appealing characteristics of cryptocurrencies enhance the world economy.

These digital currencies provide a quick and hassle-free means to transfer wealth across
nations since they are borderless and decentralised. It is hoped that the speed and accessibility
of access would promote connections, growth, and innovation in both developed and
developing nations.

With the discussion in previous chapter. Cryptocurrency also enables those who were
previously excluded from the global financial system to engage in the economy. By utilising
blockchain technology, several nations are already experimenting with "leapfrogging" their
financial infrastructure. Citizens can choose to "be their own bank" by keeping and utilising
cryptocurrency in a private wallet, saving time and effort compared to spending it on the
creation of conventional financial institutions.

5.3 Future Recommendation

Last, but not least, the researcher would like to offer some suggestions for future
studies on this topic. Researcher wanted to more spread awareness about how important or
critical cryptocurrency to be acceptance by the others to walk through a new era of digital
finance technology.

Since this study was conducted from the point of view of business enterprise
employees, future researchers could conduct a comparable study from the perspective of
subordinate employees or large companies.

As a result, future researchers will determine whether the impact of cryptocurrency

can be accepted by other large companies. Finally, this study can be used or developed in
similar industries. Citing an example, future researchers can conduct similar research in
government business enterprises or such as clinics and hospitals.
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