• Aruna kaushik

: Money plays an important role in facilitating economic exchange. Before the concept of money took root, goods were primarily exchanged under the barter system. Ever since the concept of Money as a means for economic exchange and store of value got firmly entrenched, the currency system has been constantly evolving. This age of information technology has been marked by rapid innovations and concept of a digital currency and underlying technologies like blockchain have attracted considerable attention. Digital currency or digital money is a type of currency available only in digital form and does not have physical existence like banknotes. A Cryptocurrency is a digital or virtual currency that uses cryptography for security. In the last decade, Cryptocurrencies have emerged from the background to attract considerable interest not only from technology enthusiasts but also businesses, investors and regulators. The growth of Cryptocurrencies and the attention they have garbed has been due to their promise to put in place an innovative decentralized currency system backed by advanced technologies like block chain and distributed ledger technology (DLT). This revolutionary promise of Cryptocurrencies is also paved with many potential risks and pitfalls and opinion on their usefulness to world economy is divided. Despite their shortcomings and risks, Cryptocurrencies have blazed a trail of innovations which may be hard to ignore. In this paper we examine the prevailing scenario with respect to Cryptocurrencies and the extent to which they have been able to fit into the existing world economic order. The paper also examines the perception of market regulators, central banks and overall government policies of various nations in this context.

Cryptocurrency, Bitcoin, Block Chain, Digital Currency, Virtual Currency

"CRYPOCURRENCY: CURRENT SCENARIO AND IMPACT ON GLOBAL ECONOMIC ORDER", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 9, page no.403-408, September-2018, Available :http://www.jetir.org/papers/JETIR1809566.pdf

"CRYPOCURRENCY: CURRENT SCENARIO AND IMPACT ON GLOBAL ECONOMIC ORDER", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 9, page no. pp403-408, September-2018, Available at : http://www.jetir.org/papers/JETIR1809566.pdf