MODERN DIGITAL CURRENCIES AND GLOBAL FINANCIAL MANAGEMENT
Keywords:
Digitalization, Currency, Money, Digital Currency, Financial ManagementAbstract
The study critically examined modern digital currencies and global financial management. The study used survey descriptive research design. A random sampling technique was used to select 75 staff out of the population of 150 staff in the ministry of finance Abia State. Questionnaires were administered to these staff and were properly filled and returned. The study used simple percentage ratio to analyze the different answers obtained from the questionnaire. The analysis of variance (ANOVA) was used to test the hypotheses about the different between means of group. The various analysis showed positive relationships between the variables, which means modern digital currencies and other forms of new payment technologies contributes to global financial management. In other words, the study revealed that digital currency has a crucial role in the global financial management as it facilitates exchanges, enhances monetary economics and cross border payment. The new technologies are faster, cheaper, more transparent and offer more inclusive cross-border payment services that would convey extensive benefits for economies globally, supporting economic growth, universal trade, comprehensive expansion and financial inclusion. The study, therefore, recommended among others that global internet connectivity and technological infrastructure should be enhanced in both emerging and developed nations to ensure effective financial management through the use of modern digital currencies. Further study can be carried out in the specific area of cryptocurrency as part of new payment technology or central bank digital currency in relation to global financial management.References
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