Bitcoin: Genesis, Practice and Development Prospects PART 1.

Authors

  • Vladimir Petrovich BAUER the Institute for Economic Policy and Economic Security Problems, Financial University under the Government of the Russian Federation
  • Vladimir Vasilyevich SMIRNOV Institute for Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Keywords:

traditions, progress, hedge funds, US dollars, Bitcoin, blockchain, cryptocurrency, crypto-platform, fraud, digital economy, quantitative money theory.

Abstract

The article gives a brief overview of some innovations that have not been properly evaluated by contemporaries, and demonstrates the irreversibility of progress in the digital economy using Bitcoin blockchain technology. In this context, the issues of financial fraud are considered and the arguments of opponents of cryptocurrencies are studied. Examines the characteristics of centralization and decentralization of the functions of the Bitcoin blockchain and the consequent facts of monopoly on the modern stock market. Approaches to determining the price of Bitcoin, as well as problems in the Bitcoin blockchain network and some ways to solve them are discussed. It is shown that this network may evolve as by creating crypto-platform with the independent consensus, and at the expense of crypto-platform, forming a common mining.

About authors

Vladimir Petrovich BAUER

the Institute for Economic Policy and Economic Security Problems, Financial University under the Government of the Russian Federation

Doctor of Economic Sciences, Associate Professor; Director, Center for Strategic Forecasting and Planning, Institute for Economic Policy and Economic Security Problems, Financial University under the Government of the Russian Federation

Vladimir Vasilyevich SMIRNOV

Institute for Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Junior Researcher, Center for Strategic Forecasting and Planning, Institute for Economic Policy and Economic Security Issues, Financial University under the Government of the Russian Federation

Published

06.05.2020

How to Cite

BAUER, . V. P., & SMIRNOV, . V. V. (2020). Bitcoin: Genesis, Practice and Development Prospects PART 1. Information Society, (4-5), 65-75. Retrieved from http://infosoc.iis.ru/article/view/442

Issue

No. 4-5 (2018): The main trends in digitalization in the economy and society

Section

The digital economy