Economics of Cryptocurrencies
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Date
2017-10-31
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Abstract
Cryptocurrency is a digital asset, which is used as the medium of exchange for the purpose ofsecured financial transaction and also for transferring the assets. This paper has shown theeffect of Cryptocurrency on the global economics. In this regard, the researcher has set fourresearch objectives, which have been addressed at the end of the research. With the help of thisstudy, the researcher is able to identify the future of Cryptocurrency and also highlighted therisk of using Cryptocurrency. In order to generate the conclusion, the researcher has conductedthe secondary research and collects the required information from different articles, books,journals and from newspapers. It is noted that the source of collected data is required to keepsafe and private. After the analysis, it can be observed that Cryptocurrency has strong influenceon the emerging economies, from this point it can be inferred that it will have a wide futuregrowth. On the contrary, it can be observed that due to scam, the privacy of the users wouldnot be maintained. Conversely, the transaction process is irreversible, after making thetransaction; it would not be possible to pay back the money. However, exchange through thesedigital currencies is able to prevent the circulation of black money across the country, whichhas a positive effect on the economy.
Cryptocurrency is a digital asset, which is used as the medium of exchange for the purpose ofsecured financial transaction and also for transferring the assets. This paper has shown theeffect of Cryptocurrency on the global economics. In this regard, the researcher has set fourresearch objectives, which have been addressed at the end of the research. With the help of thisstudy, the researcher is able to identify the future of Cryptocurrency and also highlighted therisk of using Cryptocurrency. In order to generate the conclusion, the researcher has conductedthe secondary research and collects the required information from different articles, books,journals and from newspapers. It is noted that the source of collected data is required to keepsafe and private. After the analysis, it can be observed that Cryptocurrency has strong influenceon the emerging economies, from this point it can be inferred that it will have a wide futuregrowth. On the contrary, it can be observed that due to scam, the privacy of the users wouldnot be maintained. Conversely, the transaction process is irreversible, after making thetransaction; it would not be possible to pay back the money. However, exchange through thesedigital currencies is able to prevent the circulation of black money across the country, whichhas a positive effect on the economy.
Cryptocurrency is a digital asset, which is used as the medium of exchange for the purpose ofsecured financial transaction and also for transferring the assets. This paper has shown theeffect of Cryptocurrency on the global economics. In this regard, the researcher has set fourresearch objectives, which have been addressed at the end of the research. With the help of thisstudy, the researcher is able to identify the future of Cryptocurrency and also highlighted therisk of using Cryptocurrency. In order to generate the conclusion, the researcher has conductedthe secondary research and collects the required information from different articles, books,journals and from newspapers. It is noted that the source of collected data is required to keepsafe and private. After the analysis, it can be observed that Cryptocurrency has strong influenceon the emerging economies, from this point it can be inferred that it will have a wide futuregrowth. On the contrary, it can be observed that due to scam, the privacy of the users wouldnot be maintained. Conversely, the transaction process is irreversible, after making thetransaction; it would not be possible to pay back the money. However, exchange through thesedigital currencies is able to prevent the circulation of black money across the country, whichhas a positive effect on the economy.
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Crypto currency, Bitcoin, Block Chain, Emerging economy, Digital currency, Trade, Security, Secondary analysis, Crypto currency, Bitcoin, Block Chain, Emerging economy, Digital currency, Trade, Security, Secondary analysis