Cryptocurrencies in the Industrial Context. The Usage of IOTA in Different Industries

Seminar paper from the year 2019 in the subject Computer Sciences - Cryptocurrency, grade: 1,7, University of Applied Sciences Essen (Economics), language: English, abstract: The purpose of this paper is to have an economical view on cryptocurrencies in the industrial context. A cryptocurrency is a digital or virtual currency with a mostly decentralized, shared and cryptographical payment system. The definition of the European Banking Authority is: "Virtual currencies are defined as a digital representation of value that is neither issued by a central bank or public authority nor necessarily attached to a Fiat currency, but is used by natural or legal persons as a means of exchange and can be transferred, stored or traded electronically." If we are talking about Bitcoin, there is also always the speech of blockchain. Blockchain is the technology behind the Bitcoin and must be separated from the cryptocurrency. These are two different things, the blockchain and the cryptocurrency. There are cryptocurrencies without a blockchain and a blockchain without a cryptocurrency. Beside the blockchain, there is an alternative technology, called the tangle.