Assessing The Role Of Cryptocurrency Project In Ethiopia: The Case Study Of Achiversklub School Of Cryptocurrency
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Date
2018-06-02
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Addis Ababa University
Abstract
Nowadays, Blockchain Technology and Cryptocurrency have gained the attention of world media, both technological and business sectors. This study assessed the importance of implementing Cryptocurrency project in Ethiopia by collecting empirical data. “Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank “(Cambridge Dictionary, 1995). Cryptocurrency uses the technology called Blockchain, Blockchain is a shared ledger or a continually updated list of transaction. This ledger keeps every transaction that has ever happened in a completely decentralized form and distributed among users. Because of that, third parties such as (Bank and central bank etc.) who were traditionally in charge of the ledger are no longer needed. The technology is huge, and it has applications not only in currency but in other industries such as land registration, voting and smart contracts. This study employed a case study which is used to “provide quantitative or numerical description of trends, attitudes and opinions of participants, hence participants were selected based on their knowledge and experience of the technology. The source of data were both primarily and secondary, such as, published or unpublished and public or private documents. The collected Cross-sectional data were organized and analyzed through descriptive data analysis technique so that the research can come to a conclusion and derive important information. The research finding shows the important role of Cryptocurrency and its backbone Blockchain technology to minimize the current Ethiopia’s foreign currency problems and to further help the country meet its millennial development goals.
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Altcoin, Blockchain, Bitcoin