Virtual currency concept: its implementation, impacts and legislation

Alghamdi, Saleh and Beloff, Natalia (2015) Virtual currency concept: its implementation, impacts and legislation. In: Science and Information Conference (SAI), 2015. IEEE, London, pp. 175-183. ISBN 9781479985470

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Abstract

Due to the rapid development of information and communication technologies, many activities in our daily life have been merged online and they become more flexible and more effective. A huge growth of online users number has activated virtual word concepts and created a new business phenomenon which is virtual currency to facilitate the financial activities such as buying, selling and trading. Virtual currency represent valuable and intangible objects which are used electronically in different applications and networks such as online social networks, online social games, virtual worlds and peer to peer networks. The use of virtual currency has become widespread in many different systems in recent years. This paper investigates and analyses many aspects of virtual currency platforms such as offered opportunities, implementation mechanisms, regulation status, challenges and concerns. The results provide novel and useful resource to be used as a base for using, implementing and developing virtual currency platforms in a controlled manner as well as providing a scientific content for further research work.

Item Type: Book Section
Additional Information: Science and Information Conference (SAI) 28-30 July 2015, London.
Keywords: Government;Online banking;Social network services;Digital Money;E-Business;E-Payment;Virtual Currency
Schools and Departments: School of Engineering and Informatics > Informatics
Subjects: Q Science > QA Mathematics > QA0075 Electronic computers. Computer science
Q Science > QA Mathematics > QA0076 Computer software
Depositing User: Natalia Beloff
Date Deposited: 09 Sep 2015 08:05
Last Modified: 09 Sep 2015 08:05
URI: http://sro.sussex.ac.uk/id/eprint/56601

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