Digital Currency Supervision Based on Blockchain Technology: A literature review
Yi Xing · SHS Web of Conferences · 2022
The 21st century has witnessed the revolutionary changes that Bitcoin brought. Notably, the application of digital transactions is not limited to the financial field. Yet the research on its regulation policy seems disproportionally little, and even fewer studies have mentioned the system behind the virtual currency – blockchain technology. Security matters of online transactions have gradually come into people’s vision recently. The focuses come down to what blockchain technology is, how it can add to digital currency regulation and the potential of blockchain on refining current regulation policies. This paper helps provide a guideline for virtual currency supervision policy and emphasizes the practical use of blockchain technology. A literature review underpins the study; the research methodology is based on a qualitative perspective. Existing regulatory policies in the USA and UK are assessed to find out their strengths and challenges and examine the use of blockchain technology to alleviate currently implemented policies.