VIRTUAL CURRENCY AND GLOBAL BUSINESS - THE NEW TREND IN THE NET-ECONOMY

Cătălin Dumitrescu () and Matei Dumitrescu ()
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Cătălin Dumitrescu: Athenaeum University, Bucharest, Romania
Matei Dumitrescu: Department FABIZ, University of Economic Studies, Romania

Internal Auditing and Risk Management, 2020, vol. 58, issue 2, 22-32

Abstract: The rapid development of information technology has made generating cryptocurrencies and fast, cheap and uncontrollable transactions using virtual space possible. Among virtual currencies, Bitcoin is considered to be a major challenge for traditional financial operations, and especially for the fight against money laundering and terrorist financing. This article presents the following points of discussion: the spectacular appearance of Bitcoin, its exponential evolution, its popularity, its growing demand, lack of anonymity and predictability, the cross-border nature of transactions.

Keywords: Blockchain; Ledger Technology; Bitcoin; ETH; cryptocurrency; cryptography; technology; digital (search for similar items in EconPapers)
JEL-codes: C23 C26 C38 C55 C81 C87 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ath:journl:v:58:y:2020:i:2:p:22-32

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