MGT5STR- Strategic Management
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MGT5STR Strategic Management (MGT5STR)
Added on 2020-05-04
MGT5STR- Strategic Management
MGT5STR Strategic Management (MGT5STR)
Added on 2020-05-04
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Running head: CRYPTO CURRENCY Crypto CurrencyName of the studentName of the universityAuthor note
1CRYPTOCURRENCYExecutive summary:This report aims to analyze the opportunities and challenges surrounding the crypto currencymechanisms. A case study was provided to analyze the various aspects led forward in contextwith the Bitcoin and accordingly, web survey was conducted to achieve the objectives of thereport. The results show the various pros and cons of the crypto currency and its relative impactworldwide. This report concludes on the fact that still many obstacles are there to be overcome topotentially present crypto currency as a replacement for the present banking methods. It isrecommended to develop measures to prevent the misuse of the crypto currency by the attackers.
2CRYPTOCURRENCYTable of ContentsINTRODUCTION:..........................................................................................................................3DISCUSSION:.................................................................................................................................31.Peer-to-Peer Electronic Transfer System:............................................................................32. Mining Crypto-Currency:........................................................................................................73.Costs and Viability of Mining Bitcoin:................................................................................84. Threat of Crypto Currencies:...................................................................................................95. Criminal Usage of Crypto Currencies:...................................................................................96. Interest of government of China in Bitcoin:..........................................................................10CONCLUSION:............................................................................................................................10REFERENCES:.............................................................................................................................12
3CRYPTOCURRENCYINTRODUCTION:Crypto Currency refers to the digital asset configured to be set as a medium for theexchange, utilizing the cryptography to provide a secured transaction and hence, offering acontrol and limiting the introduction of any additional units relative to currency. The relevantkeys, which are private enough are secured and stored in a wallet, technically known as thecrypto currency wallets. These crypto currencies are provided with a classification of being asubset to the digital currencies as well as for the alternative currency methodology and the virtualmeans of value transaction. Among the many, Bitcoin is the first decentralized crypto currency tobe launched in 2009. This report presents an insight on the various aspects of crypto currencysurrounding different crypto currencies. The report discusses the case study put forward, dealingwith the paper on the Bitcoin and its relevance in the crypto currency revolution and in the latersections of the report the required analysis on crypto currencies is presented in a descriptivemanner. DISCUSSION:1.Peer-to-Peer Electronic Transfer System: E-commerce these days have become a potential market player concerned with theelectronic transactions regarding the financial transfers. In relevance to the case study provided,an analysis is led out on the Bitcoin as the crypto currencies used for the electronictransmissions, the related procedures and conquests (Nakamoto 2008). However, the system iswell capable of most of the transactions while, it fails to gain its importance regarding a value-based model. The major feature of this type of transaction is the fact that it is completely
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