The Impact of Cryptocurrencies on the Economy

Mariya Yaneva

CSIE Working Papers, 2020, issue 16, 113-118

Abstract: In a world of technological growth, cryptocurrencies as a new generation means of payment and trade between economic entities are one of the most discussed topics of the XXI century. The entry of digital money into the economic space can be defined as a phenomenon that in the conditions of digitalization at national and supranational level are an innovation in the financial system. Globally, the rapid penetration of cryptocurrencies over the last decade has been seen as controversial in the public sphere. Digital money has many characteristics that distinguish it from traditional fiat money, and therefore economic entities focus on their implementation in the business environment. In connection with this ongoing interest, the present study aims to track and analyze the impact of digital money on the global economy. As a result of the rise of cyber technology, quite logically blockchain technologies and cryptocurrencies find many applications in the business world.

Keywords: cryptocurrency; economy; impact of cryptocurrencies; finance; innovation; bitcoin (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:aem:wpaper:y:2020:i:16:p:113-118

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