Bitcoin: The Birth and Evolution of Cryptocurrency against Fiat Currency and Effects of Technology to Modern Economy
Part 1
1. Introduction: What is cryptocurrency and Bitcoin
2. Difference of Initial Public Offering, Initial Coin Offering and Bitcoin
3. What is blockchain and how cryptocurrencies developed and work
Part 2
4. Brief about fiat currency and modern economy
5. Payment systems evolution: cash, credit card and online payment
6. How does cryptocurrencies develop in a global monetary system and why?
Part 3
7. Advantages and disadvantages of cryptocurrencies
8. How it may affect to fiat money and modern economy
Part 4
9. More on different cryptocurrencies
10. Libra coin: Facebook’s new strategy
Part 5
11. Future predictions: effects of technology to modern economy
12. Current situation as of 2019
13. Conclusion
Rationale of dissertation. Impacts on the Organization:
Today technology develops very rapidly despite the negative effects it brings community. However, modern technology has lots of advantages that cover all its negatives. The birth of card payment system revolutionized the payment method. Following this, online payment made it easier for people to make payment in a single touch. However, it still took time for banks to make money transfer while people paid with credit cards or through online system. Because, people’s bank account’s connected to servers.
It is all based on fiat currency that printed and regulated by governments. It is value is absolutely depended on political relations.
Interestingly, until 2009 this was the latest technology in payment system. That year Bitcoin born. The first decentralized cryptocurrency. In a single touch people can make any amount of payment to anywhere in the world without waiting and anonymously for both sides. In a couple of seconds sent amount will be in address. However, despite it is easier and confidential it has disadvantages.
In fact, Bitcoin is decentralized it is works with blockchains, in a computer system. People can hold bitcoins in their online wallets. No physical bitcoin is available and there is no any governmental regulation or guarantee for people. Thus, thief and online robbery is unpredictable and unknown. Apart from these, all black-market dealers started to use this, which is against law.
Thus, today some countries banned Bitcoin however some of them not. To find equilibrium, most technological companies started to create their own cryptocurrency but centralized within the company’s system. These cryptocurrencies are ICO: Initial coin offering. Digital part of IPO: Initial public offerings. Similarly, it is value is depended from the growth of company.
All in all, today the trust to digital world is less and it is understandable. However, technology keeps its rapid increase. It is up to people to follow technological digital freedom or governmentally regulated economy.
Research Proposal: 1500 words
Research Proposal – Grading percentage breakdown:
Aim, objectives and rationale for the project 25%
Literature review 25%
Methodology 25%
Project plan (GANTT chart) 15%
General presenting idea 10%