The Financial Transition to Digital Currency

Authors

  • Nikorn Pokudom School of Information Technology, Eastern Asia University
  • Kannicha Pokudom School of Information Technology, Eastern Asia University

Keywords:

bitcoin, digital currency, medium of exchange, Monetary system

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.

References

Chunhachinda, P. (2018). Lessons from the first decade of Cryptocurrencies. Electronic journal of open and distance Innovative learning (e-JODIL), 8(1), January– June 2018. (in Thai)

Euarukskul, J. (2015). The united states and the collapse of the bretton woods system: Implication for the European Community in the 1970s. Journal of liberal arts, 15(1), January– June 2015. (in Thai)

lortrakul, A. (2015). Money: Meaning and Importance. ARU research journal, 2(1), January 2015.

Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer electronic cash system. Retrieved from https://bitcoin.org/bitcoin.pdf

Pornpilaipun, J., & Racharak, B. (2005). Macroeconomics I. Faculty of Economics, Ramkhamhaeng University. n.p. pp. 181 - 182 (in Thai)

The Currency Act B.E. 2501. (1958). Royal Thai government gazette. 75(65), pp. 409-425. (in Thai)

The Digital Asset Business Operations royal act B.E. 2561. (2018). Royal Thai government gazette. 135(33), pp. 43-70. (in Thai)

Downloads

Published

2023-03-20

Issue

Section

บทความวิชาการ