კონფერენცია

∘ Tsitsino Tetrauli ∘
SOME OF THE CRYPTOCURRENCY ISSUES UNDER THE INNOVATIVE ECONOMY

Summary

Money history shows that money can not be a homogeneous mass. Since the origin of money has been the subject of many changes, money was and is one of the most difficult issues in economic science, the study of the tendencies of money-generating trends creates the basis that electronic money will eventually deduct paper money and become a predominant form of money.

Recently we hear new words: "live money", "electronic money", "cryptocurrency", "bitcoin", "blockchein", "alternative money", etc. The best known and most popular of cryptocurrency is bitcoin. Bitcoin interest in the whole world is growing, it was created in 2009 by unknown programmers. It is noteworthy that after the financial crisis of 2008, their idea was to create a self-regulated currency, which can not interfere with regulations. It can be said that bitcoin is the first decentralized currency, no government can withdraw from its system, each bitcoin has its code. Cryptocurrency is a new type of money, which, in parallel with traditional cash, but substantially different from them.

Georgia is on the second place by producing bitcoins, but that does not mean that all are involved in it.

Several months ago, Georgian cryptocurrency "Golden Fleece" was created. According to experts, digital currencies are a modern stage of money development, although the risk is large, in many countries there is no cryptocurrency as a means of payment and exchange. It is not recognized by the central banks and has nothing to do with it.

All countries react differently to cryptocurrency. Many believe that it is an alternative to paper money, which will in the future expel the paper money and will replace it altogether.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Tsitsino Tetrauli ∘ SOME OF THE CRYPTOCURRENCY ISSUES UNDER THE INNOVATIVE ECONOMY Summary Money history shows that money can not be a homogeneous mass. Since the origin of money has been the subject of many changes, money was and is one of the most difficult issues in economic science, the study of the tendencies of money-generating trends creates the basis that electronic money will eventually deduct paper money and become a predominant form of money. Recently we hear new words: "live money", "electronic money", "cryptocurrency", "bitcoin", "blockchein", "alternative money", etc. The best known and most popular of cryptocurrency is bitcoin. Bitcoin interest in the whole world is growing, it was created in 2009 by unknown programmers. It is noteworthy that after the financial crisis of 2008, their idea was to create a self-regulated currency, which can not interfere with regulations. It can be said that bitcoin is the first decentralized currency, no government can withdraw from its system, each bitcoin has its code. Cryptocurrency is a new type of money, which, in parallel with traditional cash, but substantially different from them. Georgia is on the second place by producing bitcoins, but that does not mean that all are involved in it. Several months ago, Georgian cryptocurrency "Golden Fleece" was created. According to experts, digital currencies are a modern stage of money development, although the risk is large, in many countries there is no cryptocurrency as a means of payment and exchange. It is not recognized by the central banks and has nothing to do with it. All countries react differently to cryptocurrency. Many believe that it is an alternative to paper money, which will in the future expel the paper money and will replace it altogether.