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CRYPTOCURRENCY: AN INEVITABLE ADOPTION OF CASHLESS SOCIETY

By Priya Vaswani, Muskan Vaswani & Manvendra Singh Rathore

“If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry” – Satoshi Nakamoto
The above words are of Bitcoin developer Satoshi Nakamoto; his work on Blockchain technology and using it to create Bitcoin software has revolutionized digital currencies. He initially used this technology to make an e-cash system, but it has created a separate world of cryptocurrencies. Blockchain technology is a complex technology, and gradually, research is going on to use blockchain technology in different activities. The crypto world had also witnessed some backlashes from various associations and even countries. The paper has tried to throw light on how cryptocurrencies have become a critical part of this digital world, as many people are investing and taking part in the working of the invisible currency. The paper has also tried to put forth the legal aspect of cryptocurrency and how it can be regulated from the perspective of India and compared with other countries. Cryptocurrency is a new and dynamic concept that can be studied from a different perspective and can help a human civilization flourish.
Keywords: Cryptocurrency, Blockchain, Bitcoin, E-cash, Invisible Money.

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©2020- Lex Humanitariae: Journal for a Change