Open AccessTHE EFFECT OF BITCOIN ON THE GLOBAL ECONOMY IN THE CONTEXT OF THE EVOLUTION OF CONCEPTS RELATED TO DIGITAL DEVELOPMENT
Author(s) -
Bilal Jibai,
Ahmad Nassour
Publication year - 2021
Publication title -
the euraseans : journal on global socio-economic dynamics
Language(s) - English
Resource type - Journals
ISSN - 2539-5645
DOI - 10.35678/2539-5645.5(30).2021.7-15
Subject(s) - digital currency , context (archaeology) , cryptocurrency , population , digital economy , blockchain , business , economics , economy , political science , monetary economics , currency , sociology , computer security , geography , computer science , law , demography , archaeology
This study intends to sort out what will be the normal choices of the customary financial frameworks and how the world economy will draw in and manage those normal other options. Since technological improvement is profoundly quick and momentous, it is imperative to comprehend the discernments, practices, correspondence, and the possibility of selection of those other options. Advanced monetary standards and cryptographic forms of money are non-customary financial monetary forms that depend on something referred to as blockchain innovation. There is an excessive number of advanced digital forms of money these days, all of them having their own attributes and specificities. A portion of those advanced digital currencies will be studied in this research. It is imperative to mention here that only one out of every odd nation acknowledges the progress in this area, and such nations arrangement are often influenced by their World Bank rank — low, lower-middle, upper-middle, and high-income countries. More, this research looks at the social side of bitcoin and blockchain development in these nations. Bitcoin is tremendously influencing the economy overall. That’s why it quickly became of interest for many financially trained professionals and academicians. Unfortunately, this type of money has been increasingly used for criminal activities too. This research discusses all these sides as well as the important impacts bitcoin has on the population.