Sunday, April 23, 2017

"Virtual currency legal tender and will co-exist."

[Korea Selected financial newspaper reporters - such as Bitcoin virtual currency came the prospect rea is activated, even if not able to fully replace the lawful currency issued by the Central Bank.

The Bank of Korea Park Gyeonghun micro-institutions Lab Research Fellow and Professor of Hongik University Hong Gihun, yujongmin 23 days, there is a virtual currency can replace the lawful currency "thus predicted in the report.

The report was then assumed that the economy using the legal currency and virtual currency two types of calls individuals to set up a model to compare the costs and effectiveness in a relatively select and analyze.

Bitcoin virtual currency such as the benefits were mentioned, such as the convenience of a quick settlement, cross-border transactions using digital information technology.

While the legal currency is relatively great benefits, etc. Personal information security, anonymity.

The report predicts that "the virtual currency model analysis results are not necessarily superior to the legal tender in terms of convenience of the users 'saying' virtual currency showed a great potential to be used with the two currencies does not replace the legal tender.

An explanation will be determined the legal currency and virtual currency rate depending on relative importance of some benefit. The report analyzed that "increasing the international financial payment needs, increasing the frequency of use of information and communication technology use virtual currencies have jumped higher emphasis on personal information security or trade anonymity Rating legal currency is also used increased.

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