{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,5,2]],"date-time":"2026-05-02T21:40:17Z","timestamp":1777758017810,"version":"3.51.4"},"reference-count":19,"publisher":"Walter de Gruyter GmbH","issue":"1","license":[{"start":{"date-parts":[[2021,12,1]],"date-time":"2021-12-01T00:00:00Z","timestamp":1638316800000},"content-version":"unspecified","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2021,12,1]]},"abstract":"<jats:title>Abstract<\/jats:title>\n                  <jats:p>Recent technological developments have led to economic changes that have an impact on the macroeconomic and microeconomic levels in developing countries, as well as in developed ones. The introduction of cryptocurrencies (Bitcoin is the first cryptocurrency, made public in 2009) into the economy through blockchain technology, generated a series of benefits, but also significant risks for citizens, companies and states.<\/jats:p>\n                  <jats:p>The main purpose of this article is to present the operating mechanism of the blockchain system and cryptocurrencies, their advantages and disadvantages and the attempts of the international authorities to regulate the crypto market. The authors will present also few case studies of tech start-ups that leveraged the versatility of blockchain principles into viable business propositions. Romania makes no exception in this field, so the authors will analyze and present the current status of this industry.<\/jats:p>","DOI":"10.2478\/picbe-2021-0056","type":"journal-article","created":{"date-parts":[[2022,1,28]],"date-time":"2022-01-28T10:28:30Z","timestamp":1643365710000},"page":"601-610","source":"Crossref","is-referenced-by-count":2,"title":["A review of blockchain and cryptocurrency applications in Romania"],"prefix":"10.2478","volume":"15","author":[{"given":"Maria","family":"Ni\u0163u","sequence":"first","affiliation":[{"name":"Bucharest University of Economic Studies , Bucharest , Romania"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Cristian","family":"Negru\u0163iu","sequence":"additional","affiliation":[{"name":"Bucharest University of Economic Studies , Bucharest , Romania"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"374","published-online":{"date-parts":[[2021,12,31]]},"reference":[{"key":"2026042901385686755_j_picbe-2021-0056_ref_001","unstructured":"Bech, M., Garratt, R. (2017). Central Bank cryptocurrencies, International banking and financial market developments, BIS Quarterly Review, Bank for International Settlements, September 2017, Retrieved from https:\/\/www.bis.org\/publ\/qtrpdf\/r_qt1709f.pdf."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_002","doi-asserted-by":"crossref","unstructured":"Christidis, K., Devetsikiotis, M. (2016). Blockchain and Smart Contracts for the Internet of Things, The Plethora of Research in Internet of Things, (IoT), IEEE ACESS, Vol. 4, 2292-2303, Retrieved from https:\/\/ieeexplore.ieee.org\/document\/7467408.10.1109\/ACCESS.2016.2566339","DOI":"10.1109\/ACCESS.2016.2566339"},{"key":"2026042901385686755_j_picbe-2021-0056_ref_003","unstructured":"Crosby, M., et al. (2016). Blockchain Technology: Beyound bitcoin, Applies Innovation, Scopus, 2(2), 6-10."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_004","doi-asserted-by":"crossref","unstructured":"Dwyer, G.P. (2015). The economics of Bitcoin and similar private digital currencies, Journal of Financial Stability 17, 81-91, Retrieved from https:\/\/www.sciencedirect.com\/science\/article\/pii\/S1572308914001259?via%3Dihub.10.1016\/j.jfs.2014.11.006","DOI":"10.1016\/j.jfs.2014.11.006"},{"key":"2026042901385686755_j_picbe-2021-0056_ref_005","unstructured":"Edward, V.M., et al. (2015). Bitcoin: Questions, Answers and Analysis of Legal Issues, Congressional Research Service, Retrieved from https:\/\/fas.org\/sgp\/crs\/misc\/R43339.pdf."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_006","unstructured":"European Commission (2020). Proposal for a Regulation of the European Parliament and of the Council on the Markets in Crypto-assets and amending Directive EU 2019\/1937."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_007","doi-asserted-by":"crossref","unstructured":"Fran, C., et al. (2018). A systematic literature review of blockchain-based applications: Current status, classifications and open issues, Telematics and Informatics, Volume 36, march 2019, 55-81, Retrieved from https:\/\/www.sciencedirect.com\/science\/article\/pii\/S0736585318306324?via%3Dihub.10.1016\/j.tele.2018.11.006","DOI":"10.1016\/j.tele.2018.11.006"},{"key":"2026042901385686755_j_picbe-2021-0056_ref_008","doi-asserted-by":"crossref","unstructured":"Hossein, H., et al. (2018). Big-Crypto: Big Data, Blockchain and Cryptocurrency, Big Data and Cognitive Computing, MDPI, 2, 34, 1-15, Retrieved from.10.1145\/3158344","DOI":"10.3390\/bdcc2040034"},{"key":"2026042901385686755_j_picbe-2021-0056_ref_009","unstructured":"Mourdoukoutas, P. (2018). 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Regulation of Cryptocurrency Around the World, Global Legal Research Center, Retrieved from https:\/\/www.loc.gov\/law\/help\/cryptocurrency\/cryptocurrency-world-survey.pdf."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_017","unstructured":"The Romanian National Bank (2015). Press release on virtual currency scheme, Retrieved from https:\/\/www.bnr.ro\/page.aspx?prid=10016."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_018","unstructured":"The Romanian National Bank (2018). The positions of the Romanian National Bank in relation to virtual currencies, Retrieved from https:\/\/www.bnr.ro\/page.aspx?prid=14338."},{"key":"2026042901385686755_j_picbe-2021-0056_ref_019","doi-asserted-by":"crossref","unstructured":"Xiaoqi, L., et al. (2020). 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