The Essence and Place of Cryptocurrency in the Financial System

Modern Economics Pub Date : 2023-03-20 DOI:10.31521/modecon.v37(2023)-09

M. Kohut

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Abstract

Abstract. Introduction. The history of the emergence of Bitcoin and other cryptocurrencies is analyzed. Basic concepts related to blockchain technology are explained. The main focus is on issues important from an investor's point of view, as well as on technical aspects, including the essence and importance of blockchain technology. Purpose. The purpose of the article is to generalize and systematize the available information about the emergence of cryptocurrencies and analyze their patterns. Results. The specifics of digital assets and the bitcoin exchange rate in 2012-2021 were studied in more detail. It was found that on the cryptocurrency market you can earn (as well as lose) both as a trader and as a so-called cryptocurrency hodlers. A rating of cryptocurrency exchanges was developed according to the following indicators: security, number of crypto currencies, fiat currencies, advantages of the exchange, disadvantages of the exchange. Cryptocurrency exchanges are a central part of the entire digital collection ecosystem today. Currently, there are already several hundred crypto exchanges on the market, which differ in terms of transactions, security levels or listed values. In this article, we have described cryptocurrency as objectively as possible so that you can assess for yourself whether it will be the right form of investment for you. Conclusions. The wide choice of service providers and the fact that digital currencies are a relatively new form of investment means that finding the best place to trade is not easy. The cooperation of international financial conglomerates in the development of blockchain technology will save these enterprises billions of dollars per year and will be able to improve their operations and eliminate errors related to the human factor. Participants in the financial system are forced to propose standards that would apply to each participant in the network without disturbing the established status quo in international markets.

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加密货币在金融体系中的本质和地位

摘要介绍。分析了比特币和其他加密货币的出现历史。解释了区块链技术相关的基本概念。主要关注从投资者的角度来看重要的问题，以及技术方面，包括区块链技术的本质和重要性。目的。本文的目的是概括和系统化有关加密货币出现的可用信息，并分析其模式。结果。更详细地研究了2012-2021年数字资产和比特币汇率的具体情况。人们发现，在加密货币市场上，作为交易者和所谓的加密货币持有人，你既可以赚钱(也可以亏损)。加密货币交易所的评级是根据以下指标制定的:安全性、加密货币数量、法定货币、交易所的优势、交易所的劣势。加密货币交易所是当今整个数字收藏生态系统的核心部分。目前，市场上已经有数百家加密货币交易所，它们在交易、安全级别或上市价值方面各不相同。在本文中，我们尽可能客观地描述了加密货币，以便您可以自己评估它是否适合您的投资形式。结论。服务提供商的广泛选择，以及数字货币是一种相对较新的投资形式这一事实，意味着找到最佳的交易场所并不容易。国际金融集团在区块链技术开发方面的合作每年将为这些企业节省数十亿美元，并将能够改善其运营并消除与人为因素相关的错误。金融体系的参与者被迫提出适用于网络中每个参与者的标准，而不会扰乱国际市场的既定现状。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Modern Economics

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