A Systematic Review on Bitcoin Transactions and it’s System in India

EasyChair Preprint 7106

Abstract

Cryptocurrencies like Bitcoin have been a big issue in the financial world in recent years. Cryptocurrency is a type of digital, virtual, or online currency that is secured by encryption. Cryptocurrency has wreaked havoc on the financial sector, with both good and bad consequences. Cryptocurrency is a difficult idea to grasp, but it is simple to utilise. It is thought to be. It’s challenging since it’s so different from our traditional currency that we’ve been using for so long. Following the global financial crisis of 2008, Bitcoin was designed to function independently of governments, central banks, and financial institutions. Since then, the structure of Bitcoin has been a problem to many policymakers, who have struggled to discover methods to bring it under control. As a result, some nations have banned or made it illegal, while others have remained vigilant, and the remainder have devised ways to tax and control its operations. This is a conceptual article that attempts to investigate the many elements of cryptocurrencies, beginning with their history, kinds, operation, benefits and drawbacks, problems and prospects. In addition, the study looks into the legal position of Bitcoin in India. The initial idea and inspiration, the manner of operation and various uses of cryptocurrencies, and blockchain technology are all covered in this article. We conclude that Bitcoin has a diverse set of applications and that cryptoassets are well positioned to become a significant asset class.

Keyphrases: BAN, Bank, Bitcoin, Cash, Cryptocurrency, India, future, legal

@booklet{EasyChair:7106,
  author    = {Shanti Bhushan and Er. Prabhsharan Kaur},
  title     = {A Systematic Review on Bitcoin Transactions and it’s System in India},
  howpublished = {EasyChair Preprint 7106},
  year      = {EasyChair, 2021}}