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RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

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BUSINESS INFORM №11-2017

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61

Section: Finance, Money Circulation and Credit
UDC 336.74
Shuba O. А., Honcharova Y. Y., Bulygina A. V.
Bitcoin – the World-Wide Currency (p. 418 - 423)

The article is aimed at researching bitcoin, the digital currency. It has been found that Bitcoin is a cryptocurrency, that is, the virtual money, which has no material equivalent. The history of creation and development of cryptocurrency was reviewed. There is a reduction in volatility, which guarantees the security of currency, as well as the increase in currency volume and the inability to estimate the profitability of bitcoins. The dynamics of the value of digital currency in US dollars over recent years has been analyzed. Improvement of attitude of many countries to the considered cryptocurrency, in particular the USA, Germany, Spain, Canada, Australia, Israel and Scandinavian countries has been identified. The reasons of Ukraine’s interest in Bitcoin have been considered. Possibilities of creation of cryptocurrency on the territory of Ukraine have been analyzed, i.e. cost of electricity for mining, the legal status of mining firms, and the attitude of the National Bank of Ukraine to the digital currency. It has been concluded that the recognition of Bitcoin by the world countries in the future will allow it to be granted the status of world-wide currency.
Keywords: Bitcoin, cryptocurrency, mining, world-wide currency.
Fig.: 5. Bibl.: 12.

Shuba Olena А. – Candidate of Sciences (Geography), Associate Professor, Associate Professor, Department of International Economics and World Economy, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Honcharova Yuliia Yu. – Masters Student, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Bulygina Anastasiia V. – Masters Student, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Shuba, Olena А., Honcharova, Yuliia Yu., and Bulygina, Anastasiia V. (2017) “Bitcoin – the World-Wide Currency.” Business Inform 11:418–423.


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