Academic Writing
Annotated bibliography assignment
1. Limba, T., Stankevičius, A., & Andrulevičius A. (2019). Cryptocurrency as disruptive
technology: theoretical insights. Entrepreneurship and Sustainability Issues, 6(4), 2068-2080.
http://doi.org/10.9770/jesi.2019.6.4(36)
In their research Limba et al. (2019) aim to identify the definition of cryptocurrency, its
potential drawbacks, and discuss the nature of cryptocurrencies. Literature analysis showed
that cryptocurrency is a disruptive technology that has a potential to become an official
currency, and would make the financial system more simple and efficient; however they also
discussed potential problematic features of cryptocurrencies such as decentralization and
anonymity that may result in numerous threats. In addition to that cryptocurrencies do not
have a clear legal status in most of the countries that may be considered a loophole in legal
financial regulations. This article links to many different sources and opinions. It completely
fulfills its aim. Furthermore, it is relevant for my research and can provide a substantial amount
of useful information such as the definition of cryptocurrency and its legal status.
2. Kethineni, S., & Cao, Y. (2020). The rise in popularity of cryptocurrency and associated
criminal activity. International Criminal Justice Review, 30(3), 325-344.
https://doi.org/10.1177/1057567719827051
In this article Kethineni & Cao (2020) investigate how the rise of cryptocurrency technology is
related to criminal activities. The research shows that cryptocurrency technology created a
large opportunity for criminals due to it having features such as: decentralization of authority,
cross-border accessibility, anonymity, security; as the result, cryptocurrencies became very
popular in criminal activities ranging from Ponzi schemes and extortion to money laundering
and tax evasion. Their research also mentioned that cryptocurrencies were used by
oppressive governments and illegal organizations to bypass certain regulations. Authors
discussed regulations on cryptocurrencies in different countries, and argued that the key issue
of this rise of popularity in criminal activity is insufficient regulation from governments. The
strengths of this study is that the analysis is based on a variety of sources from different
countries which makes the conclusion more accurate. It is related to my research because it
provides a detailed analysis of a some downsides of cryptocurrency technology.
3. Mohsin, K. (2021). Cryptocurrency and its impact on environment. International
Journal of Cryptocurrency Research, 1(1), 1-4. https://doi.org/10.51483/IJCCR.1.1.2021.1-4
In this journal article Mohsin (2021) research the environmental cost of cryptocurrency
technology, specifically Bitcoin (BTC) and other proof-of-work cryptocurrencies. The study
explains that proof-of-work mining is a race between miners that involves high-powered
machines solving high complexity arithmetic problems for a reward of some amount of
cryptocurrency. The first machine to solve the given arithmetic problem wins. Due to high
intensity power usage, proof-of-work based cryptocurrency networks consume a very
significant amount of energy. This energy may not usually come from a renewable source
which may be concerning due to negative environmental impact. Moreover, the other
concerning impact is electronic garbage that is left after mining operation. The author argues
that these problems could be solved with different environmental implications of the
technology and appropriate regulations. The study presents a clear explanation of the
problems with technical details about the technology; however the credibility of some used
sources is questionable. It is relevant for my research and provides information about
environmental issues of this technology.
1/1