Danubius International Conferences, 16th International Conference on European Integration - Realities and Perspectives

Cryptocurrencies, the future of money or the money of the future

Burlacu Nicoleta Veronica
Last modified: 2021-05-29


Cryptocurrencies, which are sometimes called virtual currencies or digital money, are not really money, like dollars, pounds or euros. They are entirely digital, which means that they only exist in the online environment and are not accepted by any state. Cryptocurrencies exist in databases with special rules that condition how they are offered to different people.

Cryptocurrencies are decentralized and managed by a computer network, not by a particular company. They arose from the need to use an alternative currency, which does not require the presence of a managing authority, which operates beyond the political climate and which is easy to transfer.