Crypto Currency: Pros, Cons, Regulation and Impact on International Business

Research on Crypto Currency

1
Contents
INTRODUCTION.................................................................................................................................2
Crypto currency and its popularity....................................................................................................2
Pros and Cons of Crypto currency.....................................................................................................2
Crypto currency regulation................................................................................................................3
Effect of Crypto currencies on international business........................................................................4
Conclusion.............................................................................................................................................4
REFERENCES......................................................................................................................................5

2
INTRODUCTION
New form of digital money named crypto currencies are used in all over the world
(Narayanan, Bonneau, Felten, Miller & Goldfeder, 2016). This has expanded a lot in the past
few years especially with the development of Bitcoins. This has made its presence felt after
the development of distributed ledger system like Blockchain. The use of crypto currencies
these days have been widely used in various businesses.
Crypto currency and its popularity
A crypto currency is a digital asset created to work like an exchange mediums which utilises
cryptography to make transactions secure, to regulate the generation of additional units and to
verify asset’s transfer (Vigna & Casey, 2016). Alternative currencies, digital currencies and
virtual currencies are some of the type of crypto currencies. As opposite to the centralised
systems like central banking system and centralised electronic money, crypto currencies have
decentralised control. Bitcoin was the first decentralised crypto currencies which were
created in the year 2009.
The major reason for crypto currency becoming popular is that it is a form of digital money
that is highly safe and has a decentralised structure. No-VAT in the European region has
assisted to enhance the value and popularity of this digital currency (Al Shehhi, Oudah &
Aung, 2014). Since people understand it to be safe and making frauds is impossible hence its
value has increased in the digital space.
Pros and Cons of Crypto currency
Crypto currency is a relatively new kind of technology and it is in the developmental stage.
There are various pros and cons associated with crypto currencies.
Advantages of crypto currencies: