The Financial Transition to Digital Currency

Abstract

Today, digital currency has taken on a role as a currency, although many countries still do not accept it as a currency that can be used to pay debts and settle obligations according to the law. bitcoin is the first digital currency created as a decentralized peer-to-peer payment network independent of governments or central banks in the hope that Bitcoin has a fixed value without fluctuations, and that in the future the value will not deteriorate. but as time goes on, it has been discovered that many of the cryptocurrencies that have been created do not play the role of money as they should and are classified as mere assets. but with the efficiency of the technology used to create digital currency, many governments have brought it in to study and create a digital currency that is maintained by the government for citizens to use to benefit the country's economy. therefore, this article presents the history of traditional monetary systems and the creation of cryptocurrencies. both federal and non-federal government-created digital money to provide citizens with an understanding and preparation if the domestic and international economy uses of more digital currencies.