Bitcoin: What It Is, How It Works, And Why It Is Giving the World a Run for Its Money

Abstract

This literary review aims to explore Bitcoin, a growing topic in modern finance. The purpose of my piece is to explain the technology behind it (blockchain), discuss blockchain’s potential, examine current world regulations, and suggest future research. Through a review of current literature and data, I was able to reach conclusions on the understanding of Bitcoin, and the role it plays for future virtual currencies and modern financial principals. This study is original, as it will provide the reader with current perspective of the principles of Bitcoin, how it works, and how governments and companies of the world are acclimating to its growing popularity.