Abstract
The Fourth Industrial Revolution has led to technological advances. Amongst these advances is the emergence of cryptocurrencies. The new facets introduced by cryptocurrencies are likely to change business as well as regulations. Cryptocurrencies by nature are computer-generated digital assets which are founded on revolutionary technology known as blockchain. Cryptocurrencies act as a medium of exchange as well as a store of value. Because cryptocurrencies do not have legal tender status, they cannot be considered as fiat money. Fiat money is controlled by a central authority whereas cryptocurrencies are governed by algorithms and operating protocols related to the underlying blockchain. Blockchain is a distributed ledger which provides security through its algorithms. Blockchain thus serves as a continuous record of all transactions since inception. ..
M.Com. (International Accounting)