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Emergence and Development of Cryptocurrency and Its Affect

   

Added on  2021-04-17

17 Pages3118 Words102 Views
Running head: EMERGENCE AND DEVELOPMENT OF CRPTO-CURRENCIES AND ITSIMPACT ON ECONOMIC ACTIVITIESEMERGENCE AND DEVELOPMENT OF CRPTO-CURRENCIES AND ITS IMPACT ONECONOMIC ACTIVITIESName of the StudentName of the UniversityAuthor’s Note

1EMERGENCE AND DEVELOPMENT OF CRYPTOCURRENCY AND ITS IMPACT ONECONOMIC ACTIVITIESTable of ContentsChapter 1: Introduction....................................................................................................................4Background of research study.....................................................................................................4Aims of the research....................................................................................................................5Objectives of study......................................................................................................................6Research Questions......................................................................................................................6Chapter 2: Literature Review...........................................................................................................7Introduction..................................................................................................................................7Emergence and invention of Cryptocurrency..............................................................................7Working of cryptocurrency..........................................................................................................8Benefits of cryptocurrency..........................................................................................................9Limitations of cryptocurrency...................................................................................................10Chapter 3: Research Methodology................................................................................................11Introduction................................................................................................................................11Research Onion..........................................................................................................................11Research Design........................................................................................................................12Research Approach....................................................................................................................12Research Method.......................................................................................................................13Data collection Method..............................................................................................................13

2EMERGENCE AND DEVELOPMENT OF CRYPTOCURRENCY AND ITS IMPACT ONECONOMIC ACTIVITIESConclusion.....................................................................................................................................14References......................................................................................................................................15

3EMERGENCE AND DEVELOPMENT OF CRYPTOCURRENCY AND ITS IMPACT ONECONOMIC ACTIVITIESChapter 1: IntroductionThis chapter will focus on the background of the research study that aligns with the topicof emergence and development of cryptocurrency and its affect on the economic activities. Thepros and cons of crptocurrency is also elucidated in this chapter. The aim and objectives of thisresearch study is also highlighted in this chapter. The research questions have been framed basedon the research objectives of the research topic.Background of research studyThe research study provides an overview about the emergence and development ofcryptocurrency and its affect on the economic activities. Cryptocurrency have attained hugepopularity since the year 2008 with near about 1000 in existence till today. Cryptocurrency refersto the digital currency that utilizes cryptography for securing its transactions, controlling creationof extra units and also verifying transfer of assets. It also uses decentralized control as opposedto central banking systems and electronic money (Heid 2013). Decentralized control of thecryptocurrency mainly works through the blockchain that is basically public transaction databaseworking as distributed ledger. Bitcoin was the first cryptocurrency created in the year 2009. The nature of transactions of cryptocurrency makes them suited for the host of activitiesincluding tax evasion and money laundering. In the recent years, crptocurrency specificallyBitcoin has demonstrated their value boasting to near about 14 millions Bitcoins in circulation.Cryptocurrencies makes easier for transferring the funds between the two parties in specifictransaction. However, these transfers made are basically facilitated through utilization of bothprivate as well as public keys for the purpose of security (Iwamura, Kitamura and Matsumoto2014). These transfers of funds are mainly done with less processing fees and thus permitting

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