The cryptocurrency market is now a decentralized system used more and more often, based on the concept of blockchain. A blockchain is essentially a growing list of records that are linked and secured using cryptography. This article presents the current situation and predicts possible situations that may arise in the future in the cryptocurrency market, blockchain, and more. Both individuals and legal entities are starting to invest in cryptocurrencies, creating a quick and easy way to make a profit from them. In the near future, states and governments may also use cryptocurrencies for purposes such as storing fractional resources, thus replacing currently used resources such as gold. The main purpose of the paper is to explain this new emergence of cryptocurrencies from a cybernetic approach. Analyzing the cryptocurrency market from a cybernetic perspective means approaching this market as a complex adaptive system from the perspective of system dynamics. We believe that the results and analyses of this article can contribute to the development of existing literature. The topicality of this research is the analysis performed from the cybernetic perspective, but also the construction of a complex adaptive system of the financial market to which we add the cryptocurrency market that interacts with the other markets that define the cybernetics system of the financial market.
CITATION STYLE
Chiriță, N., Nica, I., & Popescu, M. (2022). The Impact of Bitcoin in the Financial Market. A Cybernetics Approach. In Smart Innovation, Systems and Technologies (Vol. 276, pp. 197–209). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-981-16-8866-9_17
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