Cryptocurrency as a phenomenon of a new financial infrastructure: issues of theoretical understanding and practical use
DOI:
https://doi.org/10.35774/econa2017.03.144Keywords:
crypto currency, bitcoin, evolution of money, cryptography, altcoins, digital money, fiat moneyAbstract
The approach to understanding electronic money and their types on the basis of cryptographic technologies and data encryption protocols is disclosed in the article. Electronic money is becoming more popular among Internet users, as payment transactions and additional revenues. This determines the formation of new economic categories and characteristics, which gradually enter the system of modern development of society. Among them we can point out crypto technology, cryptosystems, and crypto economy, trade and money relations. They are based on bitcoin and alternative crypto assets. Modern approaches to understanding crypto currencies and their classification features are analysed. Characteristics that show the advantages over fiat money are given. The directions for the development of the crypto currency market and its surrogates are outlined.References
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