EXPLORING DIGITAL CURRENCIES: MODELS, IMPLEMENTATION, AND RISKS

Abstract

In today's rapidly changing world, new technologies are emerging every
year that have the potential to fundamentally alter the way we live our lives. One of the
most significant areas of impact is the economy, which interacts with us in numerous
ways daily. With the advent of blockchain technology, the viability of digital currencies
and wallets has been tested over the years, and many countries are now exploring the
introduction of digital currencies at the state level. In this context, the paper presents a
literature review of the research on various models of payment systems, the experience
of implementing digital currencies in different countries around the world, as well as the
associated risks with such implementations. The literature review highlights the various
approaches to digital currencies, including centralized and decentralized models, and
provides insights into the benefits and drawbacks of each approach. Finally, the
paper considers the risks associated with the implementation of digital currencies. By
examining the research on these topics, the paper aims to provide a comprehensive
overview of the issues with the implementation of digital currencies and their potential
impact on the economy.