Cryptocurrency: the future money here now…

Abstract

Purpose This paper aims to look at cryptocurrencies – digital monies – as a dynamic and decentralized means of exchange for payments of goods and services. Design/methodology/approach Literature review and online search in wikis and blogs are used to find information on cryptocurrencies, their uses and technology components, to empower and improve the economy and society. Findings Cryptocurrency is viewed vis-à-vis its impact on the economy and society, showing how economies will be boosted and driven toward empowerment of the poverty-stricken and the society will be powerfully grown in eliminating wretchedness and squalor. Originality/value This study analyzes cryptocurrency and its benefits and identifies its uses in the library and information sector as well as generally as a current and future decentralized monetary system.