Recent News: Is Bitcoins the Gateway to Currencies of the Future?

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This paper provides an overview on the viability and performance of bitcoins as a payment alternative. The history of the Crypto-currency is briefly covered followed by the operation and potential technology failure. The paper then discusses consumer acceptance of bitcoins by analyzing a survey conducted by and the positive and negative observation of the results will be discussed. Fiat Currencies, Traditional E-commerce and Alt-Coin are identified as bitcoins direct competitors and a comparison done on bitcoins against its competitors. The regulatory issues and the legality of bitcoin are also discussed.


For many years, financial intermediaries play an important role in the process of digital transaction and are deemed to be indispensable. However, in year 2008, an outline of a revolutionary technology was released by Satoshi Nakamoto. In the original paper, it describes how the technology makes it possible for users to make virtual payment between individuals and entities without going through a financial intermediary. Being merely of an idea of how future financial transaction would be conducted back then, the crypto-currency, bitcoin proven its legitimacy and viability by surpassing coin price of $2,000 for the first time in history in 20 May 2017

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Thanks and Regards,
Robert,
Editorial Manager,
Journal of Finance and Marketing,
Email: finance@alliedsciences.org