Cryptocurrency as disruptive technology: theoretical insights

Abstract

Bitcoin, Cryptocurrencies and Blockchain technologies are widely discussed nowadays. The Bitcoin market value is discussed in top magazines, the names of people who earned money from cryptocurrencies are on the Richest People list. The Blockchain technology is said to be a one of disruption pioneers on the one hand, and cryptocurrency is said to be an illegal phenomenon on the other hand. The Fourth Industrial Revolution, which is based on digitalized industry is changing the power centres. Will cryptocurrency disrupt the financial sector? Or perhaps it will disrupt the retail market or global monetary policy. Disruptive technologies together with the Internet, Mobile Internet and Internet of Things are changing our world. While society has gained simple and reachable comfort for a cheaper price on the one hand, many people have lost their jobs on the other. Consequently, the authors presuppose discussion about the phenomenon of cryptocurrency through the context of social phenomena and legal regulation: divulge definitions, principles, relating to the topic; identify possible tendencies according to legal regulation and its practical realization.

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