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Virtual currency concept: its implementation, impacts and legislation
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.
History
Publication status
- Published
File Version
- Published version
Journal
Science and Information Conference (SAI)Publisher
IEEEExternal DOI
Page range
175-183Pages
878.0Book title
Science and Information Conference (SAI), 2015Place of publication
LondonISBN
9781479985470Department affiliated with
- Informatics Publications
Notes
Science and Information Conference (SAI) 28-30 July 2015, London.Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2015-09-09First Compliant Deposit (FCD) Date
2016-03-22Usage metrics
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