In recent years, the popularity of decentralized cryptocurrency has been high. From the earliest virtual currency that was not popular, it has become a hot commodity. For example, in the past 10000 bitcoins could buy two pieces of pizza. After its gradual development, 1 bitcoin had a market price of more than $68000, or take another example, The total market value of cryptocurrency is less than US $20billion compared with that at the beginning of 2017, but so far its market value has reached about US $800billion, an expansion of nearly 40 times. In addition to being a popular digital commodity, cryptocurrency's advantages and characteristics can still be extended to various fields. In order to facilitate readers' clear understanding, CPT markets' market research team proposed three emerging applications to explain the potential of cryptocurrency.

In 2022, musk, CEO of Tesla, a large electric vehicle manufacturer, announced that the market was very excited. The news was that Tesla's electric vehicles could be purchased with dog money. This was a new step for Tesla. After that, Microsoft, Google and PayPal, such as other major technology manufacturers, gradually opened up the use of cryptocurrency as the payment currency for purchasing products or services. In addition, Gucci, Balenciaga Starbucks and other major boutiques or other mass consumption brands can also use cryptocurrency for payment. Such a great leap forward shows that the traditional legal currency is no longer the only trading medium. With the progress of the times, cryptocurrency has brought new payment methods to consumers, and the transaction has gradually moved towards the digital trend.

In the second emerging application, cryptocurrency breaks through the limitations of traditional finance due to its decentralized nature, such as the cumbersome processes, reviews, restrictions and other derived fees that occur in traditional finance. In cryptocurrency, you can not only find that the transaction speed and liquidity have been improved, but also feel that the related derivative costs have been reduced and the cross-border payment rate has been improved.

The name of ICO is initial token issuance, which is the way to raise funds by issuing cryptocurrency. The concept is not far from IPO. ICO mainly obtains cryptocurrency, while IPO mainly obtains stocks. ICO provides a new fund-raising channel for the market, and compared with IPO, ICO is not subject to many restrictions in operation, which makes its fund-raising speed quite fast, and this feature is quite suitable for those start-ups who are in urgent need of funds but are difficult to obtain the opportunity of issuing and listing for fund-raising.

Although cryptocurrency has so many emerging applications, CPT markets investment analysts specifically mentioned that cryptocurrency still faces three major challenges, namely, high volatility, low processing speed and lack of regulation. However, the value and development potential of cryptocurrency can be highlighted after the major international companies have successively invested in the field of encryption. It is believed that after the breakthrough of the three challenges mentioned above, in the future, cryptocurrency and the innovation of existing industries will integrate with each other and promote the development of new forms, and greater industrial value will be created.