Matching Items (2)
Description
This thesis examines the usefulness of cryptocurrency and provides a research-backed conclusion on the future of this digital currency. This starts with a look into the history of fiat moneys: how they were originally created, how they were implemented in past governments, and the resulting interactions between the currency and its users. The countries that were chosen for exploration demonstrate a few common trends throughout their execution of fiat currency. It is through the relationships dating all the way back to the Ancient Romans to the recent problems in Venezuela that provide a well-rounded scope of the issues. However, there have also been a few instances in which fiat currency has been successfully integrated, which furthers the advocacy towards an eventual implementation of government-regulated cryptocurrency.
This leads into an examination on the history of one cryptocurrency in particular, Bitcoin. This analysis includes the effects of the cryptomarket and the impact that it has had on various economies. Additionally, the blockchain is explored by first defining what it is and then its potential and current uses not only in the cryptomarket industry, but others as well. This includes a focus on the real estate market as well as banking. Using knowledge gained about the history of fiat money, cryptocurrencies, and the usefulness of the blockchain, this thesis compares the history of fiat currencies with the current implementation of cryptocurrency. Furthermore, the pros and cons of the possible implementation of cryptocurrency helps to provide an outlook on whether it can eventually be government regulated.
This leads into an examination on the history of one cryptocurrency in particular, Bitcoin. This analysis includes the effects of the cryptomarket and the impact that it has had on various economies. Additionally, the blockchain is explored by first defining what it is and then its potential and current uses not only in the cryptomarket industry, but others as well. This includes a focus on the real estate market as well as banking. Using knowledge gained about the history of fiat money, cryptocurrencies, and the usefulness of the blockchain, this thesis compares the history of fiat currencies with the current implementation of cryptocurrency. Furthermore, the pros and cons of the possible implementation of cryptocurrency helps to provide an outlook on whether it can eventually be government regulated.
ContributorsKaplan, Samuel Alexander (Co-author) / Vincetic, Nicholas (Co-author) / Niebuhr, Robert (Thesis director) / McDaniel, Cara (Committee member) / Mechanical and Aerospace Engineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2019-05
Description
In recent years, cryptocurrency has become an increasingly popular new alternative investment
among retail traders. Additionally, this attention has grown beyond retail traders and now presents itself as a prominent conversation among media, institutions, and academia. The purpose of this project is to explore the unappreciated aspect of cryptocurrency use such that it is capable of functioning in the foreign exchange markets (FOREX or FX markets). The inherent idea behind cryptocurrency is that it is accessible worldwide, protected, and verifiable via blockchain, holding the same monetary value regardless of location and minimizing the cost of cross-border payments by eliminating financial intermediaries in the traditional FOREX currency markets. Moreover, the goal of cryptocurrency intends to operate at faster rates than current traditional finance intermediaries. The article incorporates frequently debated aspects of cryptocurrency to identify the advantages and limitations of both cryptocurrency and traditional monetary systems. Thus, this research reveals the necessary fundamentals needed in cryptocurrency for the evolution in traditional financial structures and for widespread adoption to occur.
ContributorsKrygier, Jakob (Author) / Van Orden, Joseph (Thesis director) / Hill, John (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / Dean, W.P. Carey School of Business (Contributor) / Department of Economics (Contributor)
Created2023-05