To what extent will cryptocurrencies influence the world economy? Introduction First, a look at cryptocurrencies, what they are and how they can benefit the world economy. A cryptocurrency is a "digital medium of exchange" (RhettandLink), managed through extensive encryption techniques known as cryptography. Comparable to fiat money, no group or individual can stop, increase or abuse the production of cryptocurrencies. No economic system can regulate the production or value of currency, the system on which cryptocurrencies are based was created by Satoshi Nakamoto, specifically creating Bitcoin, whose fractional reserve banking practice would be practically impossible. Bitcoin is currently the most successful cryptocurrency to date: created in 2009, this anonymous decentralized digital currency has been the target of numerous raids and hacking attacks; the media is contemplating the significance of Bitcoin in the current world economy. Whether it has the potential to prevail over fiat currencies or whether it is just a childish project created by the aberrant Satoshi Nakamoto.Global PerspectiveSince its creation in the 1960s, the Internet has paved the way for numerous phenomena that have influenced the way we live, the way we communicate and which have influenced the world economy. One such phenomenon includes the thriving crypto currencies. One country where cryptocurrencies have been successful are both the United States and Japan; The creator of Bitcoin is originally from Japan. These two countries own the two largest cryptocurrency exchanges, with Mt. Gox in Japan handling over 70% of all Bitcoin transfers and exchanges. The btc-e is the American counterpart (TheNextWeb. 08 January 2014. Web Image. 21 March 2014.). As… medium of paper… global organizations, demographics, and communities are responsible for the great success of the many cryptocurrencies on the digital market today. Since my discovery of cryptocurrencies in late 2013, I have discovered a significant trading community with the international population. Cryptocurrencies are growing significantly in size and popularity. I am concerned about the stability of cryptocurrencies: many types of currencies have suffered serious capital losses, decreasing market capitalization, theft, illegal trading, etc. These certain currencies could be dangerous to deal with in the future. I believe that cryptocurrency trading and transactions should be encouraged locally, nationally and globally. Although they have suffered major setbacks in the global economy, I believe that cryptocurrencies have a positive future and will undoubtedly influence the world economy.