Bitcoin: Decentralized digital currency and its impact on global economy

Abstract

Bitcoin, the first decentralized digital currency, has revolutionized financial systems worldwide.Operated on blockchain technology, Bitcoin allows peer-to-peer transactions without intermediaries such as banks.This paper explores the concept of Bitcoin, its operational mechanism, and its disruptive impact on the global economy.Key areas of analysis include its influence on traditional banking, international trade, regulatory frameworks, and the rise of decentralized finance (DeFi).Additionally, the challenges associated with Bitcoin, such as volatility, regulatory uncertainty, and energy consumption, are addressed. I.