ADVANCED TECHNOLOGIES IN THE FIELD OF FINANCE - CRYPTOCURRENCY

Abstract

Over the years, as a response to the increased demand for international clearing of transactions that are conditioned by globalization, it has inevitably led to the expansion of product assortments and, consequently, services. The economy and the finance of this century are characterized by innovation and recognition of new trends and needs for simple and maximum available non-border products. For example, as Google assumed the role of Yahoo, so in the world of finance it was looking for a single practical system to outperform the previous ones. With the emergence of cryptocurrency, we can consider that there has been a new global system without the involvement of mediators and expensive international transactions. The idea was to create an electronic payment system that would be decentralized so that individual entities do their job themselves. The use of cryptocurrency might be able to replace Internet banking and mobile banking to a greater extent. But, it is not yet known which will be the first cryptocurrency found on official financial stock markets, and which will be able to provide the easiest implementation and use today. So far, no cryptocurrency is in any official stock market yet, and the transactions are carried out through private sites. There are over one thousand cryptocurrencies in the world and, depending on the current market situation, and the adequate investment moment in a particular cryptocurrency, it can be gain, but at the same time it can be loss. Cryptocurrency have caused a real financial insanity in recent years. In that period, a handful of people gained great wealth, while others remained without millions of dollars due to unpredictable fall in prices. The basic parameters for deciding when investing in a particular cryptocurrency are numerous and some of them are: the stability of the currency in a certain period, the final number of coins to be released into circulation and their security of storage, the number of users and merchants who have accepted that currency as a means of payment and other. One thing is for sure, that there were a lot of comments and confusion when the cryptocurrency was introduced and when it became very popular. The aim of this paper work is to expand, as much as possible, the knowledge that new innovative changes in the world of finance are inevitable and, if they are good, to be acceptable and useful as soon as possible. The paper work will also show the types of cryptocurrencies, but among them the bitcoin will be distinguished as the most famous cryptocurrency of the world. Among other things, we will see the cryptocurrency market in Serbia, how we can buy bitcoin, types of bitcoin digital wallets and we will give a prognosis of the bitcoin rate by 2020.