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2014•Ekonomski izazoviOpen access

Bitcoin: Currency of the future

Džemail Zornić, Šemsudin A. Plojović, Enis Ujkanović, Senadin Plojović

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Abstract

Bitcoin is actually a new kind of money. It is a brand new concept and it is a digital currency that is not issued by a central bank. Bitcoin is not created by a corporation. Instead, anyone who participates in the Bitcoin network - anyone who uses the Bitcoin software on his computer and communicates with a network of other people, who are doing the same thing, all these people together perform the function normally performed by a central bank. In this paper, we will try to bring closer the currency Bitcoin. Researchers are recommended to conduct research about Bitcoin, in order to receive objective advantages and disadvantages of Bitcoin as a currency.

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What this paper is about

Bitcoin is actually a new kind of money. It is a brand new concept and it is a digital currency that is not issued by a central bank. Bitcoin is not created by a corporation. Instead, anyone who participates in the Bitcoin network - anyone who uses the Bitcoin software on his computer and communicates with a network of other people, who are doing the same thing, all these people together perform the function normally performed by a central bank. In this paper, we will try to bring closer the currency Bitcoin. Researchers are recommended to conduct research about Bitcoin, in order to receive objective advantages and disadvantages of Bitcoin as a currency.

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Available abstract

Bitcoin is actually a new kind of money. It is a brand new concept and it is a digital currency that is not issued by a central bank. Bitcoin is not created by a corporation. Instead, anyone who participates in the Bitcoin network - anyone who uses the Bitcoin software on his computer and communicates with a network of other people, who are doing the same thing, all these people together perform the function normally performed by a central bank. In this paper, we will try to bring closer the currency Bitcoin. Researchers are recommended to conduct research about Bitcoin, in order to receive objective advantages and disadvantages of Bitcoin as a currency.

Key concepts: Currency, Digital currency, Cryptocurrency, Virtual currency, Order (exchange), Corporation, Function (biology), Business

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