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International and Multidisciplinary Journal of Global Justice

Volume 1, Issue 1, pp. 19-23, 2018

Copyright ©2018, the copyright of this article is retained by the author(s)

DOI Link: https://doi.org/10.15580/IMJGJ.2018.1.092918156






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Development of virtual money as a response to the imperfections of the modern financial system


Poskart, Robert


Opole University, Faculty of Economics, Department of Finances and Accounting





Article No.: 092918156

Type: Review

DOI: 10.15580/IMJGJ.2018.1.092918156


This article attempts to answer the question what factors led to the establishment of bitcoin – the first digital money which is completely private and independent of central banks or any other supervisory authority.

In the article enumerated many factors, but indicated the most important which was the global financial crisis in 2008. Additionally, the article presents the genesis of bitcoin, the comparison to classic money and its unique features which are also the reasons for its unprecedented popularity.


Submitted: 29/09/2018

Accepted:  25/10/2018

Published: 07/11/2018


*Corresponding Author

Poskart, Robert



Keywords: classic currencies, virtual currencies,
crypto-currencies, financial system





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Poskart R (2015). Czynniki kształtujące popyt na pieniądz wirtualny na przykładzie bitcoina (Factors developing demand for virtual money based on the example of bitcoin). Uniwersytet Ekonomiczny w Krakowie. Zeszyty Naukowe. UEK Kraków. 2 (938). 59–69. (in Polish).


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Cite this Article: Poskart, R (2018). Development of virtual money as a response to the
imperfections of the modern financial system
. International and Multidisciplinary Journal of Global Justice, 1(1):




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