Dr. Alok Baran1
  • 1 Assistant Professor Department of Commerce St. Xavier’s College of Management & Technology, Patna.


As digitalization makes deeper inroads into various aspects of our lives, the concept of e-currency has emerged as an integral part of our modern financial system. This review paper aims to provide a comprehensive overview and deeper understanding of the concept of e-currency, exploring its various dimensions and implications within a wider societal and economic context. This paper begins by elucidating the fundamental concepts of e-currency, highlighting its digital nature and the underlying technology that enables its existence. It examines the evolution of e-currency, from the early experiments with digital payment systems to the emergence of cryptocurrencies and blockchain-based platforms. The review critically analyzes the benefits and challenges associated with e-currency adoption on a broader canvas. It explores the potential advantages of e-currency, such as increased financial inclusion, accelerated cross-border transactions, reduced transaction costs, and enhanced security and privacy. Additionally, it examines the challenges related to regulatory frameworks, cybersecurity risks, and the potential impact on traditional financial systems. This paper investigates the broader societal implications of e-currency beyond traditional financial transactions. It explores its role in promoting financial innovation, fostering economic growth, and enhancing financial transparency in various sectors. It also sheds light on the potential social and economic impacts, such as income inequality, digital divides, and the potential for illicit activities. The paper delves into the global perspective of ecurrency adoption, considering the varying degrees of acceptance and regulatory approaches across different countries and regions. By synthesizing existing literature and research findings, this review paper offers insights into the future of e-currency and its potential transformative impact on our financial systems and societies at large.

Vol 3 Special Issue (2024)

Journal Details

   ISSN : 2583 – 7117

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