| Abstract | Cilj ovoga rada jest analizirati međusobnu interakciju tradicionalog tržišta i kriptovaluta. Preciznije, kriptovalutama će se pristupiti s tehnološkog, ekonomskog i pravnog aspekta kako bi se utvrdio utjecaj, odnosno posljedice koje su kriptovalute unijele ulaskom na tržište. Kriptovalute novi su oblik digitalnog novca, odnosno digitalne imovine, koji nije vezan za centralne banke, već nastaje doprinosom rudara kriptozajednici. One nastaju na temelju složenih kriptografskih algoritama čije su tehnike bazirane na blockchain tehnologiji. Budući da je upravo blockchain tehnologija sastavni dio danas aktualne četvrte industrijske revolucije, kriptovalute utjecat će na sve aspekte društva: ekonomske, političke, društvene i kulturološke. Njihove glavne prednosti leže u anonimnosti, decentralizaciji te manjim troškovima elektroničkih transakcija. S druge strane, ta ista „labava“ regulacija može olakšati aktivnosti crnog tržišta te izbjegavanje poreza. Jedna od mana koja se također pripisuje kriptovalutama jest njihova iznimna volatilnost. Ona se, međutim, pokušava reducirati razvojem brojnih matematičkih modela koji u kombinaciji s tehničkom analizom mogu pomoći u predviđanju kretanja cijena kriptovaluta s većom točnošću. Svjetska se ekonomija konstantno mijenja, a kriptovalute mogle bi s vremenom postati dio elektroničke štednje. Općenito, tržište kriptovaluta aktivno raste, kao i broj njihovih ulagača, pojavljuju se nove tvrtke i infrastrukturni projekti povezani s njima, što se može vidjeti na svjetskoj razini, ali i u malim otvorenim gospodarstvima kao što je Republika Hrvatska čije tvrtke nimalo ne zaostaju što se tiče inovacija na području kriptotehnologije. |
| Abstract (english) | The aim of this paper is to analyze the interaction between the traditional market and cryptocurrencies. More precisely, cryptocurrencies will be approached from a technological, economic and legal aspect in order to determine the impact, i.e. the consequences that cryptocurrencies have brought upon entering the market. Cryptocurrencies are a new form of digital money, i.e. digital assets, which is not tied to central banks, but is created by the contribution of miners to the crypto community. They are created on the basis of complex cryptographic algorithms whose techniques are based on blockchain technology. Since blockchain technology is an integral part of the current fourth industrial revolution, cryptocurrencies will affect all aspects of society: economical, political, social and cultural. Their main advantages lies in anonymity, decentralization and lower costs of electronic transactions. On the other hand, this same "loose" regulation can facilitate black market activities and tax avoidance. One of the drawbacks also attributed to cryptocurrencies is their exceptional volatility. It is, however, trying to be reduced by developing a number of mathematical models that, combined with technical analysis, can help predict cryptocurrency price movements with greater accuracy. The world economy is constantly changing, and cryptocurrencies could become part of electronic savings over time. In general, the cryptocurrency market is actively growing, as well as the number of their investors, new companies and infrastructure projects related to them are emerging, which can be seen globally, but as well as in small open economies such as the Republic of Croatia whose companies are not lagging behind in innovation in the field of cryptotechnology. |
