Analyzing the Potential of Bitcoin to Become a Global Currency

Abstract

Globalization has brought along countless innovations that have become crucial to modern society. Amongst these is the introduction of crypto currencies. Despite the reservations voiced by many regarding their viability, crypto currencies continue to be strong candidates for what could become a global currency. This chapter examines the probability of Bitcoin, the first decentralized crypto currency, becoming the shared currency of the world. The research aims to identify and analyze the qualities and conditions necessary for the emergence of a global currency, as well as Bitcoin’s potential as a candidate. The results of this study will shed light on the prospect of Bitcoin becoming the global currency of the future.