FROM BITCOIN TO SELFCOIN THE CRYPTOCURRENCY

What is it about?

Thanks to knowledge accumulation of civilization the twenty-first century turned to an era of technological and scientific revolutions which lead to transformation in monetary systems and currency models as well. Accordingly, the virtual money system, bitcoin and its alternatives altcoins, give the impression that the current monetary policy and monetary systems will be forced to be changed and transformed as result of this cryptocurrency’s effects. This system, generally defined as crypto money or cryptocurrency, consists of a cashlike payment instrument system that can be created in electronic settings. As this system seemingly will be an alternative to the existing money and payment instruments, hence it is strongly required to focus on this system. In this article, the structures and functions of bitcoin and similar crypto-currencies are evaluated by a comparative and analytical analysis in order to stress their position and importance in the current monetary system.

Featured Image