Potentials of Cryptocurrency Entrepreneurs in Transforming Global Cities and Regions

Potentials of Cryptocurrency Entrepreneurs in Transforming Global Cities and Regions

Ismaila Rimi Abubakar (University of Dammam, Saudi Arabia), Abubakar U. Benna (Durham University, UK) and Umar G. Benna (Benna Associates, Nigeria)
DOI: 10.4018/978-1-5225-5448-6.ch001

Abstract

The emergence of digital currencies is substantially influencing the growth of global financial markets and cities. Cryptocurrency entrepreneurs (CEs) are reshaping global cities and regions by transforming the way we live, work and interact. This chapter explores how the entrepreneurs use cryptocurrency assets and their underpinning computing technologies to transform the dysfunctional and evolving global cities. The CEs generate funds and create cutting-edge technologies to meet the challenges faced by cities, including unemployment, inadequate and rundown infrastructure and facilities as well as for new development to meet the needs of massive future urbanization. The chapter is organized in five parts. It first introduces the study and presents a background on the concepts of blockchain technologies and cryptocurrency, their emergence and development trend. It then discusses the rise of global cities and how technology impacts them, followed by the potentials and challenges of CEs in transforming global cities and regions. It ends with conclusion and future research directions.
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2. Blockchain, Cryptocurrency And Enterpreneurship

This section provides broad definitions along with discussions on key concepts of the study namely, Blockchain, cryptocurrency and entrepreneurship. These are emerging concepts that have great breadth –as many people are writing about them – but little depth because so far less experienced-based research has been made.

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