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Since the creation of Bitcoin in 2008, these digital currencies have not only attracted widespread attention from the public and economists, but have also triggered a rethinking of the nature of money, the store of value, and the modes of exchange. This paper explores the transformative impact of Bitcoin and digital currencies on global finance, emphasizing their emergence as a challenge to the traditional concept of money and a paradigm shift. Furthermore, the paper delves into the birth of Bitcoin, its decentralized nature and its pioneering role in the field of digital currencies, discusses the historical background, technological underpinnings, and monetary functions of digital currencies, and highlights the potential and challenges of their integration into the financial system. It aims to examine the characteristics and functions of bitcoin and digital currencies in the contemporary financial landscape, focusing on how they can challenge traditional monetary policy as an emerging financial asset, as well as their potential impact and integration challenges in the global economic system.
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Boyan Yu (Mon,) studied this question.
synapsesocial.com/papers/68e68387b6db64358760cae9 — DOI: https://doi.org/10.54254/2754-1169/86/20240942
Boyan Yu
Advances in Economics Management and Political Sciences
Southwestern University of Finance and Economics
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