BITCOIN - THE CURRENCY OF A NEW ECONOMY?

Carina-Elena Stegaroiu
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Carina-Elena Stegaroiu: CONSTANTIN BRANCUSI UNIVERSITY, TARGU JIU, ROMANIA

Annals - Economy Series, 2017, vol. 2Special, 114-119

Abstract: In the knowledge society, a new economy is emerging, New Economy, which also encompasses the Internet economy in the form of e-bussines, which is why the economy is the economy of information society and knowledge. So, in a knowledge-based technology, a new digital coin was also needed in the field of electronic payments, thus creating the virtual currency BITCOIN (BTC), which in a moto translation is the bit of the bit (the unit of measure of the amount of information). It is a decentralized electronic payment system and a digital encrypted opensurce created in 2009 by Satoshi Nakamoto. The need to create Bitcoin (BTC) was to ensure investment protection and free business finance, without resorting to financial institutions and beyond any constraints and regulations. The Bitcoin name also refers to the opensource program for using these coins, as well as the peer-to-peer (peer-to peer) network it forms. Currently, even if he has many opponents and has gone through several difficult times, Bitcoin seems to survive and offer new technology with revolutionary use possibilities. The concept of the digital coin fits perfectly with the ever-changing world, dominated by mobile and omnipresent technology. Compared to Bitcoin or another digital coin, any visit to the bank seems like a trip to another century, an era of time lost at the counter completing dozens of unnecessary papers.

Keywords: methodology; economic growth; economic agent; branch production; virtual economy (search for similar items in EconPapers)
Date: 2017
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