2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4
Through an overview of recent developments in finance and in the energy sector, this work represents an analysis of the relationship of their development trends. This study is carried out through an interdisciplinary approach and we decided to prefer the observational research method in order to expand the people’s perceptual knowledge in inspiring their thoughts and discovering new ways of development for finance and energy. From the original physical currency to banknotes then to electronic payment methods with the development of the internet economy, internet financial digital currency is becoming a new concept. Bitcoin was born in 2008 and since 2012 the Bitcoin’s raised monetary value has allowed people to remember two major financial crises recently. It’s still a fiat money (without intrinsic value) which is only as good as the Organization that issues it. Included but not limited to whether the entity is defaulting, the currency will become worthless. Because Bitcoin is not issued by any central bank, but by the information service provider which exists outside the monetary system, there is no centralized management of the country, and there is a great risk of losing control. Finance is not entirely a virtual economy. So ultimately, currency development trends must return to intrinsic value. For the foregoing, there is the possibility for the energy currency, not only for its uniform measurement but also for its good stability characteristics. As an energy currency, it is not necessary to print, not to apply the exchange rate, no corresponding pollution, and even better it will help to alleviate the environmental problem in the current phase and in a practical and effective way to face the challenges of global environmental degradation. The international unit of energy is joule and we can consider it as the unit of energy money because of energy and its intrinsic value. As stated by Brett Scott, there are good reasons to consider energy as a potential currency. If the future integrates energy into the financial system and becomes a means of payment, it will not only eliminate the risk of currency depreciation through a global unified measurement unit, unimpeded flow and easily exchange as a general equivalent, but also optimize energy saving and use to achieve the protection of environment and to realize the original nature of human return to nature. The emphasis is given to the possibility of integration of the financial sector with the energy one, a theme that can be framed between economics and science/technology or their combination. The aim of this research is to develop a parametric numerical model able to foresee the possibility of combining finance and energy, allowing for both a sustainable development. This will be realized by reviewing all different approaches to the subject and all the solutions created. This will allow us to analyze the pros and cons of all the existing cryptocurrencies related to energy sector. The last step of this analysis consists in identifying the main characteristics that this cryptocurrency must have in order to achieve the desired results.
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