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155061

The role of cryptocurrencies in financial transactions considering modern global conditions

Article

Last updated: 04 Jan 2025

Subjects

-

Tags

Agricultural Economics, Rural Sociology and Agricultural Extension

Abstract

Despite all the fears surrounding cryptocurrencies, the rates of transactions increased and became an undeniable reality, and with the developments of the events that the world is going through, especially since the emergence of the new Corona virus and its declaration of a global pandemic, several important questions have emerged regarding dealing in these currencies considering the current epidemic. This study aims to know the extent to which dealing in cryptocurrencies has been affected by the emergence of the new Corona virus, and will it become a haven for transactions considering the closure decisions adopted by the countries of the world, or whether the uncertainty of the current situation increases the fear of dealing with it, especially as it depends on the forces of demand and supply. The study found that transactions in these currencies decreased at the beginning of the crisis, due to fears of a depreciation in their value, which prompted individuals to sell them on stock exchanges, but with the policies of closure and travel ban, dealing in these currencies increased again. Central banks tended strongly considering this crisis to think about maximizing benefit from dealing in these currencies.

DOI

10.21608/aasj.2020.155061

Keywords

Cryptocurrencies, Blockchain, Coronavirus, new monetary system

Authors

First Name

Eman

Last Name

Fouad

MiddleName

M.

Affiliation

Department of Economics, Faculty of Commerce (Girls), Al-Azhar University (Assiut Branch), 71524 Assiut, Egypt

Email

eman.mostafa@azhar.edu.eg

City

-

Orcid

-

Volume

3

Article Issue

3

Related Issue

23223

Issue Date

2020-12-01

Receive Date

2020-11-04

Publish Date

2020-12-01

Page Start

280

Page End

288

Print ISSN

2535-1680

Online ISSN

2535-1699

Link

https://aasj.journals.ekb.eg/article_155061.html

Detail API

https://aasj.journals.ekb.eg/service?article_code=155061

Order

17

Type

Research article

Type Code

764

Publication Type

Journal

Publication Title

Archives of Agriculture Sciences Journal

Publication Link

https://aasj.journals.ekb.eg/

MainTitle

The role of cryptocurrencies in financial transactions considering modern global conditions

Details

Type

Article

Created At

22 Jan 2023