Impact of Bit coin in Developing countries Economy

Nouman Nasir

Abstract

This paper examines the role of Bit coin (crypto currency) in Developing countries Economy. Bit coin is a new type of digital currency that has increases the importance of traction like as an economic instrument (no direct link established). Although Bit coin’s constantly increases, as compared with different areas of financial system now Bit coin in an emerging stage and there were not much of scholarly articles on bit coin topic. This paper is an outcome of examining study on the awareness and role of Bit coin in the economy and its impact on society with a special emphasis on Asia and also one of the first studies to examine Bit coin’s use as a complement to developing markets currencies. The overall reaction from the different group member of sample is mixed towards different variables. This study also focuses on both sides issues of bit coin particularly in interest of financial institutions and economists with a prospective transformation. This study also discusses and highlights an application of advance technology and revolution with a digital currency.

Key Terms: Bit coin, Digital currencies, Cryptography, Developing Countries Economy