Bitcoin and the future of traditional monetary systems

Order Description

Context
Bitcoin is a virtual monetary system that works without a central bank, is based on digital tokens without intrinsic value, and relies on a system of trust of users

recording transactions on a publicly-available ledger. Major retailers are now accepting Bitcoin in exchange for physical goods purchased online, and its legitimacy as

a currency has been recognised by authorities worldwide.

The two questions you must answer. This essay is about thinking critically
1. Evaluate the opportunities and/or threats Bitcoin presents to traditional monetary systems.
2. How might the regulation of the Bitcoin market have to change, if the use of Bitcoin becomes more widespread?

You MUST use these ideas and analysis in your response:
PESTLE analysis, SWOT analysis, Looking at Bitcoin as a Business System and there is a “Fundamental solutions” using Reinforcing feedback loops to regulate the Bitcoin

market,Thinking Critically about Business Ethics and the role of consumers and in the regulation of Bitcoin, Identify the broad and specific economic opportunities

that regulating Bitcoin through new social business opportunities.

You must use these references:

Christensen, C. 1997, ,The innovator’s dilemma: When new technologies cause great firms to fail, Harvard Business School Press, Boston.

Porter, M. & Kramer, M. 2011, ‘Creating Shared Value: how to reinvent
capitalism and unleash a wave of innovation and growth’ Harvard Business
Review, vol. 87, No, 1-2, pp. 59-61.

Damian, G. 2010, ‘Ethical reasoning in business’, in Business ethics, 4th ed.,
Oxford University Press, New York

Meadows, D. H. 2008, ‘The basics’ in Wright D.(ed) Systems thinking: a primer, Chelsea Green Publishing, White River Jct. VT