Cryptocurrency perception within countries : a comparative analysis

Purpose: The paper explores the differences between countries concerning perception and use of traditional and virtual money. We try to answer the question who uses virtual money for investment and building assets and who uses it just for Internet payments. The background of the analysis are significant changes that have taken place in the virtual money market in recent years in relation to changes in the global financial market. Design/methodology/approach: A pilot study was conducted in Poland, the Russian Federation, and China, which is supposed to be an introduction to the bigger and wider survey. It was conducted within December 2019 and January 2020 with 81 surveyed persons. These were students of financial studies in the chosen countries. The paper questionnaire used in the survey consisted of 26 questions connected to virtual money plus 5 demographic questions. It was provided personally by teachers in class. Findings: The findings indicated that there are differences between countries in perception and the use of traditional and virtual money. These discrepancies can have cultural or historical background. Practical Implications: The practical usefulness of the whole study is that gathered information will permit to examine the economic and financial literacy of the respondents and their preferences for the use of innovative financial instruments. Originality/value: The study is related to the very current issue – virtual money as alternative to the currently functioning fiduciary money. The result of the research as one of the first indicated that a different perception of traditional and virtual money among different countries exist. This statement might be a huge contribution to the analysis of the current and further financial system.peer-reviewe

Cryptocurrencies in the light of money definitions

Purpose: The aim of the article is to attempt to assess the phenomenon of digital currencies through the prism of existing money definitions as well as to determine to what extent the existing definitions of money are able to answer the question whether private decentralized digital currencies are money in the traditional sense or are they a completely new phenomenon that cannot be put in the framework of previous definitions of money. Design/methodology/approach: This study provides a critical literature review of the cryptocurrency’s definitions in comparison to traditional money definition. The literature review was intended to determine whether bitcoin could be treated as money. Findings: The findings indicate that all the cryptocurrency definitions quoted in this study demonstrate that bitcoin together with other cryptocurrencies have ceased to be a niche phenomenon as at the time of the definitions being published and that in no way can the novel trend already marked across the world be ignored by pretending it simply does not exist. Originality/value: This article intends to cover the gap observable in the current scientific discourse in the relations between the notions of classic money and digital currencies.peer-reviewe

A definition of the concept of economic effectiveness

The concept of economic effectiveness has often been interpreted in an ambiguous manner. There is no clear definition of it in the literature. Individual authors place stress on different elements of this concept. There are also different measures of effectiveness. This article aims to make the concept of economic effectiveness more precis

The emergence and development of the cryptocurrency as a sign of global financial markets financialisation

The article presents one of the most important, in the author's opinion, manifestations of further intensification of the processes of financialisation of global financial markets, which was the emergence of decentralized digital currencies (so-called cryptocurrencies) based on blockchain technology. Their creation and existence on the global financial market have been widely considered as one of significant effect of the global financial crisis, which symbolic beginning is September 15, 2008, when one of the largest US investment banks Lehman Brothers collapsed. The worldwide COVID-19 pandemic has only highlighted the importance of this effect of financialization. The purpose of the article is to present the impact of cryptocurrencies, including bitcoin, on the deepening of the processes of financialisation of modern financial markets. Author analysis is based on statistical data, on the literature review and documents of world financial institutions

Usługi bankowe związane z transferem w obrocie prywatnym środków pieniężnych z zagranicy do Polski

This paper presents the issues related to the remittances from Polish migrants working abroad. The objective of this paper is to deepen the knowledge of formal channels of sending remittances connected to emigration from Poland with particular consideration of the presentation of banking services and costs connected to remittances to the country of origin of Polish migrants