Abstract: We are transitioning from paper cash to digital currency in this new era of digitalization, where the world is moving quicker with the advancement of the digital revolution. With the invention of the Internet and the digital world, one of society's most crucial aspects, namely, monetary exchange, is likewise shifting from physical to digital. Many operations in our everyday lives have been combined online as a result of the fast growth of information and communication technology by making them more flexible and effective. A massive development in the increase of internet users has reactivated virtual concepts and generated a new commercial phenomenon known as digital money, which is used to expedite financial transactions such as buying, selling, and trading. Online trading and settlement technologies are transforming the world's transaction procedures. India is anticipating a slew of innovative government interventions. The technique and problems of transactions are changing as a result of the introduction of digital money into the globe. This research study attempts to examine the current state of digital/virtual currencies, as well as their potential influence on developing economies such as India and perception of individuals on the digital transactions. The study aims to determine the primary impact of digital currency on individuals, businesses, financial institutions, and other important aspects of the economy.
Keywords: Virtual currency, Indian Economy, Economic Development, Digital Payments.
Title: An Empirical study on Impact of Digital Currency and Digital transactions
Author: Chandrashekar, Dr. T.S. Devaraja
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
Vol. 11, Issue 1, April 2023 - September 2023
Page No: 222-238
Research Publish Journals
Website: www.researchpublish.com
Published Date: 19-June-2023
