Impact of Bitcoin on the World Economy

Abstract

Bitcoin has brought a revolution in digital market. Bitcoin doesn't follow any supervisory body or central authority to control it. Unlike any country's currency, it is not supervised by a government. It flows on networks and is managed by decentralized actors. Like any other innovation, bitcoin also has pros and cons associated with it. In this chapter, the authors discuss all the opportunities and challenges related to bitcoin and its impact on the world economy.