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The Role of Cryptocurrency in the Sustainable Development of Business

Author

Listed:
  • Alina-Mihaela IRIMESCU

    (Bucharest University of Economic Studies)

  • Corina-Graziella BÂTCĂ-DUMITRU

    (Bucharest University of Economic Studies)

Abstract

Money is a social convention, a method of acquiring various goods and services designed to facilitate a person’s life. Over time, money has taken different forms, from gold coins to fiat coins. Along with digitization, the emergence of a payment method that should not involve a banking institution or a government that should have an influence on its purchasing power was desired, and in 2008 cryptocurrencies appeared. Cryptocurrencies are virtual currencies, unregulated by a financial institution, used as a payment method, and their system of use is based on a peer-to-peer technology, without the need for a third party intervention. The purpose of this paper is to present an overview of the cryptocurrency phenomenon and the impact that cryptocurrencies have on sustainable business development.

Suggested Citation

  • Alina-Mihaela IRIMESCU & Corina-Graziella BÂTCĂ-DUMITRU, 2022. "The Role of Cryptocurrency in the Sustainable Development of Business," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 3(10), pages 9-13, October.
    • Handle: RePEc:ahd:journl:v:3:y:2022:i:10:p:9-13
    DOI: 10.37945/cbr.2022.10.02
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    More about this item

    Keywords

    cryptocurrency; blockchain; cryptography; mining; Bitcoin;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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