As an economics major, I have decided to explore the topic of BitCoin and the possible movement towards a digital currency. BitCoin is a young system, with its fair share of flaws that have stinted its popularity, the main being security. However, many financial goliaths have taken a shine to this new financial innovation and have begun heavily investing. A decentralized, free, and incredibly quick money transferring system could take away the need for third-party intermediaries and eradicate fees, putting more money in the pocket of the consumer while rendering many jobs obsolete. Already, resources are being put towards the research of this concept and fixing its drawbacks. For project 4, I am going to develop an argument based on the possible future for this innovation; whether or not it shall sink or swim. I will also be discussing the impacts on world economy and society if this were to be adopted. Having almost finished reviewing amples scopes and contributions to the argument, I am going to write a literature review for March 25. From here, I will be able to come to a conclusion on a thesis and how I will make my own contribution.
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