The Barter to Bitcoin: An Introduction To Crypto Currencies

  • Hitha K Abraham Economics, UGC Net Holder, Associate, State Bank of India, Manimala, Kottayam Dist. Kerala.

Abstract

In today’s digital world, money is not just a physical tender which has a backing of a regulatory authority; it expands far beyond to virtual currencies, mobile payments or even virtual goods. Crypto currencies have joined this revolution since 2009. This paper is designed to explain about the major cryptocurrency trending; the bitcoins. The paper studies the relevance, advantages and the future of bitcoins and compare the trends seen over the past few years. Limitations and disadvantages are also the focus of study. The mechanism how bitcoins work is also explained in simple language. Finally this paper examine how a developing country like India has welcomed this digital innovation and the country’s central bank’s opinion to it.

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Published
2018-05-28
Section
Articles