The Use of Cryptocurrency in Enterprises in Czech Republic
The Use of Cryptocurrency in Enterprises in Czech Republic

Author(s): Andrea Kolková
Subject(s): Social Sciences, Economy
Published by: Vysoká škola ekonomická v Praze
Keywords: Cryptocurrencies; bitcoin; ethereum; litecoin
Summary/Abstract: Purpose:The aim of this paper is to show the potential useand possibilitiesof cryptocurrenciesfor enterprises.This includes the accounting and legal aspects of this new phenomenon. The application will focus on one of the ways to exploit cryptocurrencies, namely CFD contracts. Design/methodology/approach:The article describes the capabilities and tools for using cryptocurrency for entrepreners. Selected cryptocurrencies are subjected to statistical analyzes, and so analyze the daily values of the exchange rates from the time of the occurrence of the given cryptochange. Based on the data of selected cryptocurrencies, the possibilities of speculation with cryptocurrency for entrepreneurs are subsequently proposed in the article. Findings:Entrepreneurscan also use cryptocurrenciesto pay for ordinary businesses in a number of ways without the use of above-standard computing. At thepresent time, the greater spread of cryptocurrencies payments defends them high volatile and relatively large charges.Thecryptocurrenciescan be use entrepreneurs for trading. Research/practical implications: In the Czech Republic there is a relevant legal regulation that allows transactions to be carried out in cryptocurrenciesin accordance with Czech law, using appropriate electronic sales records. The issue contains many other topics for research. Originality/value:Cryptocurrencies are consideredthe biggest innovation in the financial markets over the last 20 years.The use of these entrepreneur’s tools has been smallfor now;however,they maystill be a tool to develop enreprenurin the financial markets.

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