Economics of Cryptocurrencies

Govind Rajendra Amilkanthwar, B.Tech.

Master's thesis

Economics of Cryptocurrencies (Bitcoin)

Abstract:

Cryptocurrency is a digital asset, which is used as the medium of exchange for the purpose of secured financial transaction and also for transferring the assets. This paper has shown the effect of Cryptocurrency on the global economics. In this regard, the researcher has set four research objectives, which have been addressed at the end of the research. With the help of this study, the researcher is able to identify the future of Cryptocurrency and also highlighted the risk of using Cryptocurrency. In order to generate the conclusion, the researcher has conducted the 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 keep safe and private. After the analysis, it can be observed that Cryptocurrency has strong influence on the emerging economies, from this point it can be inferred that it will have a wide future growth. On the contrary, it can be observed that due to scam, the privacy of the users would not be maintained. Conversely, the transaction process is irreversible, after making the transaction; it would not be possible to pay back the money. However, exchange through these digital currencies is able to prevent the circulation of black money across the country, which has a positive effect on the economy.

Abstract:

Cryptocurrency is a digital asset, which is used as the medium of exchange for the purpose of secured financial transaction and also for transferring the assets. This paper has shown the effect of Cryptocurrency on the global economics. In this regard, the researcher has set four research objectives, which have been addressed at the end of the research. With the help of this study, the researcher is able to identify the future of Cryptocurrency and also highlighted the risk of using Cryptocurrency. In order to generate the conclusion, the researcher has conducted the 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 keep safe and private. After the analysis, it can be observed that Cryptocurrency has strong influence on the emerging economies, from this point it can be inferred that it will have a wide future growth. On the contrary, it can be observed that due to scam, the privacy of the users would not be maintained. Conversely, the transaction process is irreversible, after making the transaction; it would not be possible to pay back the money. However, exchange through these digital currencies is able to prevent the circulation of black money across the country, which has a positive effect on the economy.

Keywords

Crypto currency, Bitcoin, Block Chain, Emerging economy, Digital currency, Trade, Security, Secondary analysis

Language used: English

Date on which the thesis was submitted / produced: 14. 12. 2018

Thesis defence

• Supervisor: Ing. Karina Tatek Benetti, Ph.D.

Technical University of Liberec

Faculty of Economics

Master programme / field:
Economics and Management / Business Administration