Bitcoin Hype Analysis and Perspectives in the South Asian Market

Abstract

After demonetization, the emphasis was given to a cashless economy by the Government of India. Keeping in view the concept of cashless economy, the importance of Crypto currency cannot be denied. Crypto currency (CC) is a virtual currency and it works as a medium of exchange by using cryptography for security. It comprises diverse currencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Cardano (ADA), Neo (NEO), Stellar Lumens (XLM), and so on. Many countries like Canada, Australia, Bulgaria, Chile, Denmark, Estonia, Finland, Germany, and Luxembourg have adopted Bitcoin in order to moving towards a digital eco-system. The research was conducted to find out the awareness, perception and understanding about the functioning of bitcoin among individuals. This article is all about awareness of bitcoin amongst individuals and prospective if allowed by the Government of India.