THE EFFECTS OF DIGITAL CURRENCY ON CONVENTIONAL TRADE
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Digital currencies, crypto currencies, bitcoin, virtual currencies, e-commerce, commerce, banks.सार
This report discusses "digital currencies" and their influence on conventional forms of commerce. Globalization and the “Information Technology” revolution have radically changed the way modern-day businesses conduct transactions. The emergence of digital currencies may provide an alternative form of globally accepted currency allowing for a more unified market economy across the planet (Jegatheesan et al., 2015).
The concept of a globally accepted currency is not new. With the advent of community currencies, digital wallets, e-currencies, and more recently, internet virtual currencies, efforts have been made to create currencies with universal acceptance. However, there has been no comprehensive study on the feasibility of these currencies and their current role in enhancing e-commerce and online transactions. This “Virtual Currency” study seeks to provide insight into the existing barriers and limitations that such currencies currently possess, as well as the benefits they may bring to commerce on the internet.
