This week we discussed Bitcoin Economics. For this week’s research paper, you need to search the Internet and explain why some businesses are accepting and other businesses are rejecting the use of Bitcoins as a standard form of currency. Your paper needs to identify two major companies that have adopted Bitcoin technology.
Your paper should meet the following requirements:
• Be approximately 3-5 pages in length, not including the required cover page and reference page.
• Follow APA guidelines. Your paper should include an introduction, a body with fully developed content, and a conclusion.
• Support your response with the readings from the course and at least five peer-reviewed articles or scholarly journals to support your positions, claims, and observations. The UC Library is a great place to find resources.
• Be clear with well-written, concise, using excellent grammar and style techniques. You are being graded in part on the quality of your writing.
Answer preview
Moreover, bitcoin, as a conventional form of currency, is a global unit of account. Ammous (2018) stated that bitcoin was designed to globally kill the mentality of cash intermediaries for money exchange and speed up business transactions. Therefore, business corporates accept bitcoins because they use a formal network where people globally watch all nodes of transactions. People share one ledger in a network and can transact from any corner of the world. Since businesses require convenience to maximize profits, they choose a global unit of account, such as bitcoin cryptocurrency. It plays a monetary role in every business transaction.
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