Bitcoins: Can We Really Use A Crypto-Currency?

INTRODUCTION

Crypto currency was first introduced in 2007, a sort of an experimental digital platform to transfer money using the digital medium in a format of its own. A decade later, given the multitude of developments which have been brought about by technology in recent times, the significance of crypto currency has grown.

The major reason for the growth in significance of the digital form of currency lies in its nature since it can be used with ease and without any geographical or political boundaries. While the changing times have witnessed a mammoth rise in the manner of use of the crypto-currency, we still need to ascertain the feasibility this currency and what kind of stability it can offer? Various leading national banks of several countries including the Reserve Bank of India (RBI) have raised their concern over similar factors like stability and regulation of the currency. While, no clear guidelines are available on the use of Bitcoins or any