The future of electronic bussines financing: cryptocurrencies as a form of digital payment

Predmet rada su virtualne valute kao oblik digitalnog plaćanja u elektroničkom poslovanju . Razvoj tehnologije doveo je do stvaranja novih fenomena u financijskom svijetu. Jedan od tih fenomena su kriptovalute, digitalne decentralizirane valute kreirane za „svijet budućnosti“― koji je globalan i virtualan, zasnovan na visokosofisticiranim tehnologijama od kojih je najznačajnija blockchain tehnologija, za koju se smatra da bi mogla donijeti radikalne promjene u svjetskom financijskom sustavu i njegovu buduću arhitekturu. Bitcoin je najpoznatija digitalna valuta, a ujedno i kolekcija koncepata i tehnologije povezana protokolom, odnosno kriptografski i matematički osigurana mreža, bez centralnog autoriteta, koja se temelji na zajednici korisnika poput Interneta ili torrenta. Predstavlja decentraliziranu globalnu mrežu, gdje svaki korisnik doprinosi stvaranju njegove vrijednosti. Bitcoin donosi revolucionarne promjene u financijski svijet poput decentralizacije, kriptografske zaštite, minimalnih naknada, mikro transakcija, otpornosti inflaciji i sl., što ga čini superiornijim u odnosu na druge novčane sustave. Ipak, virtualne valute predstavljaju svojevrsni ekonomski eksperiment te iako mnogi predviđaju njihovu uspješnu budućnost, ona nema garancije i ovisit će prije svega o povjerenju i snazi oko njega stvorene zajednice, pa i zakonske regulacije. Digitalne valute su realnost današnje ekonomije te vrlo brzo postaju sredstvo tržišne komunikacije. Temeljno istraživačko pitanje ovoga rada je istražiti aktualne domene primjene i teme istraživanja u ovom području, identificirati izazove i smjernice za buduća istraživanja vezana uz virtualne valute i prateću tehnologiju.The subject of the thesis are virtual currencies as a form of digital payment in electronic business. The development of technology has led to new phenomena in the financial world. One of these phenomena are cryptocurrencies, digital decentralized currencies created for the "world of the future" - which is global and virtual, based on highly sophisticated technology, the most significant of which is blockchain technology, which is believed to bring radical changes in the world's financial system and its future architecture. Bitcoin is the well-known digital currency, and at the same time a collection of concepts and technologies connected to the protocol, i.e., a cryptographic and mathematically secured network, without central authority, based on a community of users such as the Internet or the torrent. It represents a decentralized global network, where each user contributes to creating its value. Bitcoin brings revolutionary changes to the financial world such as decentralization, cryptographic protection, minimum fees, micro transactions, inflation resistance, and so on, making it more superior than other financial systems. However, virtual currencies are a kind of economic experiment and although many predict their successful the future, it does not have a guarantee. It will depend, above all, on the trust and power of the community created, and also the legal regulation. Digital currencies are the reality of today's economy and are rapidly becoming a means of market communication. The fundamental research question of this paper is to explore current domains of application and research topics in this area, identify challenges and guidelines for future studies related to virtual currency and related technology