It's not an actual research but the overview of our plans in doing our research. Our professor in Contemporary World gives us a task to do a research by group. At first we are brainstorming ideas about the topic that we can use to start our research then suddenly I realize that cryptocurrency is part financial Globalization in which the world is moving on new age in which digital money is used specially by first and second world country that'd why I come up with the idea of using cryptocurrency as our topic. At first we are hesitant to use cryptocurrency as our topic since our co-members is not familiar with that topic, however they have little knowledge about cryptocurrency and they agree on it. We decide to tackle a specific crpyto which is BCH or bitcoin cash since this is the coin that I'm familiar with and it's the best candidate for me to conduct our research. We wrote our objectives in the study then i was assigned to write the introduction of our study. I made researches during my senior high school but I already forgot the process on how to make it that's why I browse on YouTube to watch videos in making introduction. I found Doctor Ed Padama's video about research and the good news is, it's tagalog that's why it's easy for me to understand. He gave me hint that the introduction must be broad to specific first thing I do is I wrote the first part then cite sources that supporting my ideas of course Google scholar is always there to help me and give me lots of sources. After that I stated the problem of the study which is not all people can engage to cryptocurrency due to different factors, according to the study of one researcher there are disadvantages that cryptocurrency had like the volatility of the market and risk on investment.
Lots of people had uncertainty in investing due to those factors. Another thing is, crypto is not that popular to third world countries, currently countries belong to first world like US, CANADA, JAPAN, UK, etc. Already adapt cryptocurrency and it was used by citizens however people in third world doesn't have enough knowledge about the opportunity that cryptocurrency can give. After stating the problem I made the next part of introduction which is the research gap, in this part I state the other information beyond the study. I stated on my research the situation of crypto in Philippines, as we all know Philippine government doesn't legalize the crypto yet however it was used by few people and there are people already hold crypto assets. The only way to use or exchange crypto is through Philippine government agency which is SEC or Security and Exchange Commision, in order to exchange crypto to fiat currency, there must be rules and regulations from SEC that must be followed. Then the last part of introduction I wrote is the rationale of the study, it is where I indicate the reasons why we conduct these study, I stated there that the aim of this study is to determine the impact of crypto to economic growth and what will happen if business owners will adapt BCH as a mode of payment once cryptocurrency is legalize in Philippines.
Our study will flow on what will happen if BCH will use as a mode of payment in Philippines. As we all know foreign countries and their businesses already using BCH as a mode of payment. Philippines is moving to that stage, currently we are on digital Era in which our own currency Peso became digital with the use of different platforms like Gcash, Coins.ph, Paymaya, PayPal, etc. The government indicates that in the year 2025, Philippines will become a cashless society and everyone is using digital money. It indicates that cryptocurrency is waiving at us and Philippine government will legalized it. Other part of our research we need to do is the theoretical and conceptual framework, significance of the study, scope and delimitation, Definition of terms, Review of related literature which is easy for me cause there are lots of sources we can use and include in our study. However we are still confuse who will be our respondents since crpyto is not yet familiar with people but we come up with the idea of connecting our research to business so that our Respondents will be business owners. As of now our research is not yet finished hopefully we have no defense, I think our professor is just preparing us for the upcoming thesis in more higher level.
Much better talaga if people will know more about cryptocurrency since we are all in a digital world