New Published Research Looks at Cryptocurrency as a Viable Global Monetary System

The world's economies are constantly narrowing. There is more international trade and globalized economic ventures today than there ever has been. One single supply chain can cover the entire globe. With these realities comes an increased need for the understanding of emerging markets, changing buying cultures, and the future of scarcity.

The Research Journal of Finance and Accounting has published research by Fort Worth, Texas-based academic and researcher Seth Barnett regarding the future possibilities of cryptocurrency as a solution to growing global financial needs. The journal, titled "Bitcoin and Other Opensource Software Protocol Accounting Systems as an Accepted Global Monetary System", seeks to challenge the evolution of standardized global monetary systems, and looks to apply new accounting methods to better adhere to future global financial demand.

This new research looks at the foundation of cryptocurrency as a potential for a new global standard and hypothesizes that Bitcoin and its similar digital counterparts that are based on scarcity are the solutions to the future of successful global economics.

"Bitcoin was created as a currency with natural scarcity, earned in collection by maintaining the very technology systems that supply it, known as mining, but holding natural value since only certain amounts of the currency can ever be in circulation. This is the first currency in history with absolute and obvious scarcity. It is also the first that is accessible to 60 percent of the world's population all at once," says Barnett.

Barnett hopes that this research will begin to align global conversations, both in academic and practical application, to the value of identifying new methods of satisfying a necessary financial evolution.

To learn more and to view the published research, please visit www.sethbarnett.com/journals.

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Seth Barnett is considered an expert on cooperative marketplace success. He regularly speaks around the world to professionals in various industries about how to engage with and adapt to changing markets and has presented many new theories on human behavior and business adaptation. He has appeared in numerous publications on this topic in periodicals across the U.S. and the UK, as well as several top academic journals. Seth has been a guest instructor at Texas Christian University, Boise State University, the Florida Institute of Technology, the College of Western Idaho, and Johnson & Wales University. He holds a bachelor of science degree in Management from Johnson & Wales University, a master's degree in Public Administration from Walden University, a master's degree in Law from American Public University, and is earning a doctorate in Organization Development from Johnson & Wales University. Seth resides in Fort Worth, Texas.

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Source: Seth Barnett

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Categories: Financial Accounting

Tags: accounting, accounting software, bitcoin, cryptocurrency, currency, finance, globalization, monetary system