Session

Computer Science and Communication Engineering

Description

This paper examines the impact of blockchain technology and cryptocurrencies on the execution of financial transactions, exploring their potential to revolutionize existing systems. Blockchain technology, known for its high transparency and security, has the capacity to eliminate intermediaries, reduce transaction costs, and increase the efficiency of financial markets. Meanwhile, cryptocurrencies such as Bitcoin and Ethereum are transforming the way payments and value transfers are conducted, offering more secure and faster alternatives compared to traditional banking systems. The paper also addresses key challenges associated with these technologies, including scalability issues, underdeveloped regulatory frameworks, and high energy demands. By analyzing the literature and real-world use cases, this research identifies the potential benefits and challenges of implementing blockchain and cryptocurrencies, as well as their long-term prospects for global financial systems.

Keywords:

Blockchain technology, Cryptocurrencies, Financial transactions, Decentralization, Regulatory challenges.

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-982-15-3

Location

UBT Kampus, Lipjan

Start Date

25-10-2024 9:00 AM

End Date

27-10-2024 6:00 PM

DOI

10.33107/ubt-ic.2024.403

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Oct 25th, 9:00 AM Oct 27th, 6:00 PM

Blockchain technology and cryptocurrencies in the execution of transactions

UBT Kampus, Lipjan

This paper examines the impact of blockchain technology and cryptocurrencies on the execution of financial transactions, exploring their potential to revolutionize existing systems. Blockchain technology, known for its high transparency and security, has the capacity to eliminate intermediaries, reduce transaction costs, and increase the efficiency of financial markets. Meanwhile, cryptocurrencies such as Bitcoin and Ethereum are transforming the way payments and value transfers are conducted, offering more secure and faster alternatives compared to traditional banking systems. The paper also addresses key challenges associated with these technologies, including scalability issues, underdeveloped regulatory frameworks, and high energy demands. By analyzing the literature and real-world use cases, this research identifies the potential benefits and challenges of implementing blockchain and cryptocurrencies, as well as their long-term prospects for global financial systems.