Impact of Bit Coin on Trade and Commerce: (A Comparative Study of North Kashmir & Central Kashmir)

Abstract

Bitcoin is a virtual currency and has been accepted as a mode of payment by many countries now-a-days.the main threat for Bitcoin are its vulnerability in the mining process as well as lack of security during the storage of coins on the online pools. To provide security against the attack, the framework of Bitcoin protocol need to be changed and the same will be accepted by all the users because Bitcoin is a decentralized crypto currency. The current study tries to determine the impact of Bitcoin on Trade and Commerce in the study area. After the analysis of data it was found that the two regions (viz Central Kashmir and North Kashmir) of the study area do not differ significantly with respect to socio-economic variables, general awareness about the bitcoin and impact of bitcoin of trade and commerce.

Keywords: Bitcoin, Volatility, Blockchain, Cryptocurrency, Mining.