The Role of Cryptocurrency in the Sustainable Development of Business

Alina-Mihaela Irimescu and Corina-Graziella Bâtcă-Dumitru
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Alina-Mihaela Irimescu: Bucharest University of Economic Studies
Corina-Graziella Bâtcă-Dumitru: Bucharest University of Economic Studies

CECCAR Business Review, 2022, vol. 3, issue 10, 9-13

Abstract: Money is a social convention, a method of acquiring various goods and services designed to facilitate a person’s life. Over time, money has taken different forms, from gold coins to fiat coins. Along with digitization, the emergence of a payment method that should not involve a banking institution or a government that should have an influence on its purchasing power was desired, and in 2008 cryptocurrencies appeared. Cryptocurrencies are virtual currencies, unregulated by a financial institution, used as a payment method, and their system of use is based on a peer-to-peer technology, without the need for a third party intervention. The purpose of this paper is to present an overview of the cryptocurrency phenomenon and the impact that cryptocurrencies have on sustainable business development.

Keywords: cryptocurrency; blockchain; cryptography; mining; Bitcoin (search for similar items in EconPapers)
JEL-codes: O33 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ahd:journl:v:3:y:2022:i:10:p:9-13

DOI: 10.37945/cbr.2022.10.02

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