Please see my new publication on it:Book Sell Dangerously Masked Energy-intensive Crypto-currencies, ...
High security is needed for Cryptocurrency. It must be more reliable and acceptable by world economist
" Bunjaku, F., Gorgieva-Trajkovska, O., & Miteva-Kacarski, E. (2017). Cryptocurrencies–advantages and disadvantages. Journal of Economics, 2(1)."
"Recently, cryptocurrencies and bitcoin have become the main topics in the financial industry. A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Cryptocurrencies have their benefits and drawbacks. Cryptocurrencies in general and bitcoin in particular came outside of the academia. However, since their introduction contribution of academia in this financial monetary field has been very significant. However, since the cryptocurrency market is evolving with an enormous speed and there is a significant dose of confusion of what is going on, it is in our opinion that academic research in this field should be taken with reserves and caution. Despite these facts, academic research on cryptocurrencies has contributed by exposing limitations and pitfalls of cryptocurrency system of payments, but also by proposing ways to overcome those. [1] The above mentioned authors claim that the main three advantages of cryptocurrencies are anonymity, privacy and confidentiality. However, it is our opinion that the most important feature of cryptocurrency system of payments is transparency. One may ask why! The reason we believe that transparency is the key to success of cryptocurrency system of payments is the fact that in this system unlike the conventional bank system of payments where the client has information only about its own account. Whereas, in crypto-currency system of payments, everybody within the system can see the financial transactions of all other participants, thus, making the system extremely transparent. Hence, although not backed by a sovereign authority, it is the high level of transparency that makes cryptocurrencies acceptable for its users. However, some authors, such as Camoron (2016) claims that it is very unlikely that governments will allow the use of cryptocurrencies in the way that are currently operating".
Please have a look at the following RG links and PDF attachment.
Thesis The Growth of Cryptocurrency in India: Its Challenges & Pote...
Research Cryptocurrency and the Future of Financial Services
Technical Report Cryptocurrencies: Is Bitcoin the Future for A cashless society
Technical Report The Workings of Bitcoin Cryptocurrency
Article An Analysis of Cryptocurrency, Bitcoin, and the Future
Article Bitcoin: Future Transaction Currency?
Conference Paper Cryptocurrency: The Future of Digital Economy
@ Revaz Lordkipanidze
Please also have a look at these useful RG links.
https://www.researchgate.net/post/Can_Bitcoin_in_the_future_become_the_main_currency_for_financial_transactions_and_settlements_concluded_via_the_Internet
https://www.researchgate.net/post/What_will_be_the_future_of_cryptocurrencies
https://www.researchgate.net/post/Is_Bitcoin_the_Future_of_Money
https://www.researchgate.net/post/What_is_the_view_of_Islamic_Finance_on_Cryptocurrency
Cryptocurrency is the dangerous nonsense, but there is demand for it still.
Some countries Has Banned the Trade of Cryptocurrency. And some are making plan to ban it. The reason is people are using it for money Laundering and other negative activities as their is no proper strict Monitoring banking mechanism in its place. Regards
With the advancement of humanity in all fields , cryptocurrency and blockchain will be widely used in the future.
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