The IUP Journal of Management Research
Bitcoin – Asset or Currency? User's Perspective About Cryptocurrencies

Article Details
Pub. Date : Jan, 2019
Product Name : The IUP Journal of Management Research
Product Type : Article
Product Code : IJMR71901
Author Name : Neha Parashar and Farida Rasiwala
Availability : YES
Subject/Domain : Management
Download Format : PDF Format
No. of Pages : 21

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Abstract

After the recent financial crises, Bitcoin had emerged as the most successful cryptocurrency. Besides its security robustness, two other main properties have probably been its key to success: anonymity and decentralization. The robust network of decentralized payment transactions had attracted a lot of attention among e-commerce users. A cryptocurrency works best when the volume of transactions is large relative to the individual transaction size (e.g., as in a retail payment system). It uses peer-to-peer payment network involving negligible cost with no involvement of third party or financial institution in the transaction. Such anonymity in the Bitcoin network is the unique propagation which was not inherently present in any e-commerce transaction. The present paper explores the awareness and perception regarding Bitcoin in India with special reference to all the generations. It provides a comprehensive description of the details that make the cryptocurrency an interesting research topic. Since public awareness eventually defines Bitcoin's price, the future of Bitcoin depends on increasing positive public perception.


Description

Money is one of the most valuable and sought-after commodities in the world, affecting people in almost every facet of their life. One of the most controversial new innovations in this field is cryptocurrency. It is a currency that is not protected by governmental regulations or law, making it impervious to government interference. The currency is fully decentralized, and unlike fiat money, the government cannot affect its value. The first and the most widely used cryptocurrency is Bitcoin (see Figure 1).


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