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Virtual Currency And Global Business - The New Trend In The Net-Economy

Author

Listed:
  • Cătălin DUMITRESCU

    (Athenaeum University, Bucharest, Romania)

  • Matei DUMITRESCU

    (Department FABIZ, University of Economic Studies, Romania)

Abstract

The rapid development of information technology has made generating cryptocurrencies and fast, cheap and uncontrollable transactions using virtual space possible. Among virtual currencies, Bitcoin is considered to be a major challenge for traditional financial operations, and especially for the fight against money laundering and terrorist financing. This article presents the following points of discussion: the spectacular appearance of Bitcoin, its exponential evolution, its popularity, its growing demand, lack of anonymity and predictability, the cross-border nature of transactions.

Suggested Citation

  • Cătălin DUMITRESCU & Matei DUMITRESCU, 2020. "Virtual Currency And Global Business - The New Trend In The Net-Economy," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 58(2), pages 22-32, June.
    • Handle: RePEc:ath:journl:v:58:y:2020:i:2:p:22-32
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    More about this item

    Keywords

    Blockchain; Ledger Technology; Bitcoin; ETH; cryptocurrency; cryptography; technology; digital;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • C26 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Instrumental Variables (IV) Estimation
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • C87 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Econometric Software

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