Research

Bitcoin: risks and controls

Year 2015
Author Grant, Gerry; Hogan, Robert
Publisher Journal of Corporate Accounting & Finance, Volume 26, Number 5, 1 July 2015, pp. 29-35(7)
Link View Research Paper
Categories

Bitcoin / Cryptocurrencies / Security

Proponents hype the benefits of Bitcoin transactions as being faster and cheaper than traditional methods; however, concerns around the lack of a central governing agency, lack of controls over Bitcoin exchanges, and the volatility of the virtual currency persist. Therefore, a company’s use of Bitcoin, as a medium of exchange or as an investment, involves risks and internal control concerns that merit careful consideration. © 2015 Wiley Periodicals, Inc.