Cryptocurrency: possibilities and risks

Abstract

Cryptocurrency is a digital bearer document which can be passed to another person through a secure decentralized network called the blockchain. Such network, in principle, precludes the central mediator, the comptroller, the dominant element. Every owner of digital information is independent and doesn’t need to get any permission for the transfer of his/her property. A new technology promises tremendous savings of resources and new opportunities in the monetary and credit sector, other sectors of the economy and in public administration.