Effects of Cryptocurrencies on Global Economics: A Review Study

Rogash Younis Masiha

doi:10.48161/qaj.v2n2a138

Authors

Rogash Younis Masiha Researcher Duhok Kurdistan Region of Iraq

DOI:

https://doi.org/10.48161/qaj.v2n2a138

Keywords:

Economics, Cryptocurrencies, Global Economics, Bitcoin

Abstract

The features of a new global economy appear stronger and faster than the changes recorded by the economy throughout history, and the “Covid-19” pandemic has accelerated these transformations, achieving on the ground a global experience to deal with digital payment via credit cards and the use of online payment applications, and it marks the beginning of the end of the era of paper currencies. And the trend towards investing in crypto and digital currencies on the part of investors, in conjunction with the competition of countries around the world to win the issuance of the first digital currency issued by central banks. There are many questions about replacing the digital currency with gold or the dollar in a rapid transformation that changes the trends of the global economy, and the number of cryptocurrencies around the world has reached about 4337 currencies with a market value of $ 1.003 trillion, “Bitcoin” holds the largest share by 66% with a market value of $ 664 billion. Despite many official warnings against investing in these unregulated currencies, fintech startups are witnessing a surge in demand from consumers who are rushing to invest in cryptocurrencies amid great interest and momentum in Bitcoin. Like Revolut, eToro and Luno, cryptocurrency demand surged on their platforms amid the resurgence of Bitcoin prices.

Downloads

Download data is not yet available.

References

Mukhopadhyay, U., Skjellum, A., Hambolu, O., Oakley, J., Yu, L., & Brooks, R. (2016, December). A brief survey of cryptocurrency systems. In 2016 14th annual conference on privacy, security and trust (PST) (pp. 745-752). IEEE.

Hileman, G., & Rauchs, M. (2017). Global cryptocurrency benchmarking study. Cambridge Centre for Alternative Finance, 33(1), 33-113.

Liu, Y., & Tsyvinski, A. (2021). Risks and returns of cryptocurrency. The Review of Financial Studies, 34(6), 2689-2727.

Yue, Y., Li, X., Zhang, D., & Wang, S. (2021). How cryptocurrency affects economy? A network analysis using bibliometric methods. International Review of Financial Analysis, 77, 101869.

Kochetkov, A. V. (2018). Innovative properties, positive and negative effects of cryptocurrency turnover for the economy. Finance and Credit [Finansy i kredit], (24), 9.

Moratis, G. (2021). Quantifying the spillover effect in the cryptocurrency market. Finance Research Letters, 38, 101534.

Lin, Z. Y. (2021). Investor attention and cryptocurrency performance. Finance Research Letters, 40, 101702.

Sakas, D. P., Giannakopoulos, N. T., Reklitis, D. P., & Dasaklis, T. K. (2021). The Effects of Cryptocurrency Trading Websites on Airlines’ Advertisement Campaigns. Journal of Theoretical and Applied Electronic Commerce Research, 16(7), 3099-3119.

Zhao, Y. (2015). Cryptocurrency brings new battles into the currency market. Future Internet (FI) and Innovative Internet Technologies and Mobile Communications (IITM), 91.

Oh, J. H., & Nguyen, K. (2018). The growing role of cryptocurrency: what does it mean for central banks and governments. International Telecommunications Policy Review, 251, 33-55.

Liu, J., Rahman, S., & Serletis, A. (2021). Cryptocurrency shocks. The Manchester School, 89(2), 190-202.

Caferra, R., & Vidal-Tomás, D. (2021). Who raised from the abyss? A comparison between cryptocurrency and stock market dynamics during the COVID-19 pandemic. Finance Research Letters, 43, 101954.

Caporale, G. M., & Plastun, A. (2020). Momentum effects in the cryptocurrency market after one-day abnormal returns. Financial Markets and Portfolio Management, 34(3), 251-266.

Frankovic, J., Liu, B., & Suardi, S. (2021). On spillover effects between cryptocurrency-linked stocks and the cryptocurrency market: evidence from Australia. Global Finance Journal, 100642.

Asaad, Renas Rajab. (2014). An Investigation of the Neuronal Dynamics Under Noisy Rate Functions. Thesis (M.S.), Eastern Mediterranean University, Institute of Graduate Studies and Research, Dept. of Computer Engineering, Famagusta: North Cyprus.

Asaad, R. R., Abdurahman, S. M., & Hani, A. A. (2017). Partial Image Encryption using RC4 Stream Cipher Approach and Embedded in an Image. Academic Journal of Nawroz University, 6(3), 40–45. https://doi.org/10.25007/ajnu.v6n3a76

Rajab Asaad, R., & Masoud Abdulhakim, R. (2021). The Concept of Data Mining and Knowledge Extraction Techniques. Qubahan Academic Journal, 1(2), 17–20. https://doi.org/10.48161/qaj.v1n2a43

Asaad, R. R., Ahmad, H. B., & Ali, R. I. (2020). A Review: Big Data Technologies with Hadoop Distributed Filesystem and Implementing M/R. Academic Journal of Nawroz University, 9(1), 25–33. https://doi.org/10.25007/ajnu.v9n1a530

Asaad, R. R. (2019). Güler and Linaro et al Model in an Investigation of the Neuronal Dynamics using noise Comparative Study. Academic Journal of Nawroz University, 8(3), 10–16. https://doi.org/10.25007/ajnu.v8n3a360

Asaad, R. R. (2021). Penetration Testing: Wireless Network Attacks Method on Kali Linux OS. Academic Journal of Nawroz University, 10(1), 7–12.

https://doi.org/10.25007/ajnu.v10n1a998

Almufti, S., Marqas, R., & Asaad, R. (2019). Comparative study between elephant herding optimization (EHO) and U-turning ant colony optimization (U-TACO) in solving symmetric traveling salesman problem (STSP). Journal Of Advanced Computer Science & Technology, 8(2), 32.

Asaad, R. R., & Abdulnabi, N. L. (2018). Using Local Searches Algorithms with Ant Colony Optimization for the Solution of TSP Problems. Academic Journal of Nawroz University, 7(3), 1–6.

https://doi.org/10.25007/ajnu.v7n3a193

Almufti, S., Asaad, R., & Salim, B. (2018). Review on elephant herding optimization algorithm performance in solving optimization problems. International Journal of Engineering & Technology, 7, 6109-6114.

Asaad, R. R., & Ali, R. I. (2019). Back Propagation Neural Network(BPNN) and Sigmoid Activation Function in Multi-Layer Networks. Academic Journal of Nawroz University, 8(4), 216–221.

https://doi.org/10.25007/ajnu.v8n4a464

Asaad, R. R., Abdulrahman, S. M., & Hani, A. A. (2017). Advanced Encryption Standard Enhancement with Output Feedback Block Mode Operation. Academic Journal of Nawroz University, 6(3), 1–10.

https://doi.org/10.25007/ajnu.v6n3a70

Abdulfattah, G. M., Ahmad, M. N., & Asaad, R. R. (2018). A reliable binarization method for offline signature system based on unique signer’s profile. INTERNATIONAL JOURNAL OF INNOVATIVE COMPUTING INFORMATION AND CONTROL, 14(2), 573-586.

Almufti, S. M., Ahmad, H. B., Marqas, R. B., & Asaad, R. R. (2021). Grey wolf optimizer: Overview, modifications and applications. International Research Journal of Science, Technology, Education,and Management, 1(1),1-1.

Asaad, R. R., Sulaiman, Z. A., & Abdulmajeed, S. S. (2019). Proposed System for Education Augmented Reality Self English Learning. Academic Journal of Nawroz University, 8(3), 27–32.

https://doi.org/10.25007/ajnu.v8n3a366

Asaad, R. R. (2020). Implementation of a Virus with Treatment and Protection Methods. ICONTECH INTERNATIONAL JOURNAL, 4(2), 28-34. https://doi.org/10.46291/ICONTECHvol4iss2pp28-34

Ihsan, R. R., Almufti, S. M., Ormani, B. M., Asaad, R. R., & Marqas, R. B. (2021). A survey on Cat Swarm Optimization algorithm. Asian J. Res. Comput. Sci, 10, 22-32.

Asaad, R. R., & Segerey, R. I. (2018). School Management Application Using iOS. Academic Journal of Nawroz University, 7(4), 38–44.

https://doi.org/10.25007/ajnu.v7n4a269

Asaad, R. R., Mustafa, R. F., & Hussien, S. I. (2020). Mortality Statistics and Cause of Death at Duhok City from The Period (2014-2019) Using R Language Data Analytics. Academic Journal of Nawroz University, 9(3), 1–7. https://doi.org/10.25007/ajnu.v9n3a699

Asaad, R. R. (2021). A Study on Instruction Formats on Computer Organization and Architecture. ICONTECH INTERNATIONAL JOURNAL, 5(2), 18-24.

https://doi.org/10.46291/ICONTECHvol5iss2pp18-24

Asaad, R. R. (2021). Virtual reality and augmented reality technologies: A closer look. Virtual reality, 1(2).

Asaad, R. R. A Review: Emotion Detection and Recognition with Implementation on Deep Learning/Neural Network.

Asaad, R. R., Saeed, V. A., & Abdulhakim, R. M. (2021). Smart Agent and it’s effect on Artificial Intelligence: A Review Study. ICONTECH INTERNATIONAL JOURNAL, 5(4), 1-9.

Asaad, R. R. A Asaad, R. R. A Review: Emotion Detection and Recognition with Implementation on Deep Learning/Neural Network.