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Bitcoin - the legal framework and practical aspects of its use in payment transaction
Pardubický, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
in english The purpose of this theses is to analyse the Bitcoin electronic peer-to-peer payment system, from the view of the legal, regulatory and also purely practical issues surrounding its use as a modern means of payment processing. The reason for choosing this topic is that I find the subject to be very interesting and possibly promising for the future of payments. Also, as the use of Bitcoin payment system spreads across the global population, we can see many of legal questions arising: Is the use of Bitcoin network legal? How is it regulated under existing legal system? Can it be subsumed under any existing legal categories? What are the risks of its misuse for criminal activities? Should new legal rules be enacted to regulate its use, and if so, what should these rules be like? My goal in this paper is to find these relevant questions, elaborate on them and provide as many answers as will be possible. We have to bear in mind the fact, that the technology, underlying the Bitcoin payment systém is very new and many ways path-breaking. As usual, the legal theory lags behing technology here, so many questions still have to be settled before we can give any straight answers. The work is divided into seven chapters, each dealing with different legal or practical aspects connected to the Bitcoin...
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The future of central banking in the economic system of developed countries on a basis of evalution of the experience from the last decade
Vilt, Lukáš ; Ševčík, Miroslav (advisor) ; Munzi, Tomáš (referee)
Thesis is dealing with the development of the central banking on the basis of experience from the last decade. Hypothesis is the statement, whether the central banks of the developed economies are increasingly less capable of the effective reactions on the accelerating development of the global economy and their position in the money emission and regulation of the banking sector is and will be more and more weakened by the alternative banking and monetary systems. This hypothesis is successfully disproved because of the behavior of the four chosen central banks which are CNB, FED, ECB and BoJ. The main reason was an increase in their activities and interventions causing among others multiplication of their balance sheets. On the other hand the alternative in the free banking is further from the reality than before. Virtual currencies also did not show threatening growth of the national currencies substitution in the reference period. Thesis also provides insight into new and potentially new instruments of the central banks.
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The use of Bitcoin and other virtual currencies
Šnajdr, Michal ; Maitah, Mansoor (advisor)
This Bachelor thesis aims to bring the insight into the world of virtual currencies, and mainly to the world of Bitcoin which remains completely undiscovered by many people, although this could be very crucial for us in the near future. The theoretical part focuses on some general information. The effort is also to outline the principle of functioning of individual components the whole virtual currencies´ network consists of. Also, there are presented advantages and disadvantages associated with the use of these currencies. In the practical part, we mainly try to introduce the ways and options how the virtual currencies can be used in practice, offer other ways of utilization and then summarize their overall effect on the present and future global economic market.
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Problems virtual currency - Bitcoin
Matej, Pavel ; Veber, Jaromír (advisor) ; Klíma, Tomáš (referee)
Bachelor's thesis is focused on digital currency Bitcoin, This thesis is trying to bring new coherent view on: how work Blockchain, how is the transaction created and focusing on security methods of transactions even whole block and processes associated with it. The main objective of this thesis is to highlight risks and threats to which Bitcoin is currently facing. Structure of the thesis is divided into theoretical and practical part. In the theoretical section is described the basic principles of Blockchain and a description of how it works in detail transactions. The practical part deals with the fulfillment of the stated objectives, in addition, also focuses on market research and draw conclusions about how expensive it is to dispose of Bitcoin. The contribution of this work is to analyze the weaknesses Bitcoin's architecture. This work describes the problems associated with scaling Bitcoin and hacking methods which could Bitcoin badly damage.
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