Bitcoins: the virtual currency that is revolutionizing the world

Abstract

This article presents the new global revolution of electronic transactions through Bitcoin, its origins, how it is used, and its legal status in Colombia according to the Central Bank of Colombia. This decentralized virtual currency, which began circulating in 2009 and has now achieved a significant global position, is not widely accepted in all countries; however, it is becoming an easily accessible trend. We will discuss its market value and the possibility of listing it on the stock exchange. We will also examine its social impact in Colombia, specifically its support for the victims of the natural disaster in Mocoa, a municipality in the Putumayo department. This research is framed within a qualitative paradigm, specifically documentary research, involving a detailed study of the situation under investigation, selecting appropriate information, and contextualizing it within the research topic. The investigation revealed that this type of transaction is used in Colombia, which is illegal because the official currency is the peso, and this could lead to illicit activities from some perspectives and evade some monetary controls, which goes against the financial processes of the region.