Annotated Biblography Example on The Evolution of Blockchain: Transforming Finance and Culture

Hanitzsch, T., Hanusch, F., Ramaprasad, J., & De Beer, A. S. (Eds.). (2019). Worlds of Journalism: Journalistic cultures around the globe. Columbia University Press.

This is an informative paper about how blockchain technology such as Bitcoin has impacted the world. The blockchain has enabled the world to share information in numerous ways. Blockchain technology allows the world to form a new type of financial system that can limit all inadequacies and even transform the ways different parties arrive at an agreement or supervise the chains of supply. Bitcoin technology has a distributed ledger that allows all users worldwide to access and control peer-to-peer digital businesses. The digital platform facilitates users to maintain secure information through encrypting and granting access permission to people granted authorization by the cryptographic keys.

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According to this paper, blockchain technology plays an essential role in eliminating or minimizing numerous challenges in the business environment, such as looting and authenticity issues. The blockchain technology offers a platform for different markets to solve their problems. Blockchain technology has ledgers, which help in solving the issues affecting the modern world business environment.

Abraham, J., Sutiksno, D. U., Kurniasih, N., & Warokka, A. (2019). Acceptance and penetration of Bitcoin: the role of psychological distance and national culture. SAGE Open, 9(3), 2158244019865813.

It is an educative paper that shows the various factors that determine the acceptance and penetration of Bitcoin technology, and they include the national culture and psychological distance. Countrywide and individual cultures play an essential role in predicting modern currency acceptance in the world. The new currency, such as the bitcoin, has no correspondence to real money; however, it can purchase authentic items and services. Culture can easily be defined as the brain’s programming collectively that shows the difference between a particular group of people. There are six major dimensions of national culture: power distance, personalism versus collectivism, gender-based feminism, and masculinity, avoidance of uncertainty (Abraham et al., 2019). Fifthly, there is long-term orientation versus short-term orientation. Finally, there is indulgence versus restraint (Abraham et al., 2019). The listed factor plays a significant role in determining the penetration of bitcoin in a country (Abraham et al., 2019).

Knezevic, D. (2018). The impact of the blockchain technology platform is changing the financial sector and other industries. Montenegrin Journal of Economics, 14(1), 109-120.

This interesting paper by Dusko Knezevic explains that blockchain technology is changing the financial and other cultural sectors of the economy through cryptocurrency. The modern currency has significantly how economic activities are conducted. The blockchain technology has changed how items are bought and sold. The internet has resulted in many things that have positively affected human beings’ lives. Blockchain technology enables the exchange of money without intermediaries such as banks; this implies that people can send and receive money in a safe and conducive manner.

Blockchain technology has transformed the internet from sharing information to a place of exchanging value, and it is highly increasing its popularity as it is adopted by countries worldwide. Blockchain technology has been incorporated in numerous fields such as Zcash, Bitcoin, and Ethereum. The blockchain technology has hugely enhanced efficiency in markets. The rate of business transactions has greatly increased through the modern use of currency. In every fraction of a second, a transaction is happening compared to using the fiat money, which has delays and has more costs involved.