Possible State Approaches to Cryptocurrencies

• Main Author: Jan Lansky
• Format: Article
• Language: English
• Published: Czech Society of Systems Integration 2018-01-01
• Series: Journal of Systems Integration
• Subjects: cryptocurrency; Bitcoin; anonymity; risk and prevention; state approaches
• Online Access: http://www.si-journal.org/index.php/JSI/article/viewFile/335/325

Cryptocurrencies are a type of digital currencies that are relying on cryptographic proofs for confirmation of transactions. Cryptocurrencies usually achieve a unique combination of three features: ensuring limited anonymity, independence from central authority and double spending attack protection. No other group of currencies, including fiat currencies, has this combination of features. We will define cryptocurrency ownership and account anonymity. We will define cryptocurrency ownership and account anonymity. We will introduce a classification of the types of approaches to regulation of cryptocurrencies by various individual countries. We will present the risks that the use of cryptocurrencies involves and the possibilities of prevention of those risks. We will present the possible use of cryptocurrencies for the benefit of the state. The conclusion addresses the implications of adoption of a cryptocurrency as a national currency.