Firuz Panahov (ahm.maliyye@gmail.com)
Baku Business University
Abstract
With the development of electronic systems, ideas have repeatedly arisen to create an electronic analogue of cash for remote payment. Cryptocurrency technology was originally aimed at the absence of a trusted node – one whose actions are guaranteed to be true and who can confirm the correctness of other people’s operations. For the first time, this problem was solved in the Bitcoin system due to the artificial complication of making changes to the transaction history register.
Keywords: cryptocurrency, payment system, information and communication technologies, exchange rate, monetary policy.
