GETTING TO KNOW ETHEREUM CRYPTOCURRENCY AS A METHOD OF PAYMENT IN BRAZIL

A CASE STUDY OF NEWEGG COMPANY

Abstract

This study seeks to analyze the impacts of implementing Ethereum as a payment method and, to this end, the Newegg use case is used to understand the accounting consequences of this case, as well as the technological and economic effects of this occurrence. In addition, a qualitative research, of a bibliographic and documentary nature, will raise the relationship of integration of cryptocurrencies in the global market. To this end, a case study on Bitcoin in Japan and the implementation of innovative financial events in Brazil will be promoted, such as DREX and the new Mercosur currency. The general objective is to analyze the impacts and feasibility of adopting Ethereum as a payment method in Brazil, with the specific objectives of understanding the accounting and tax challenges of this practice, identifying Newegg's good practices and discussing its potential as a Brazilian application. It is clear that clear regulation and appropriate accounting practices are necessary for the implementation of this cryptography in the Brazilian system, demonstrating the transformative capacity of this technology to the financial system. It is therefore concluded that Brazil has all the conditions to integrate cryptocurrencies and digital currencies into its economic system in a safe and efficient manner, as long as it promotes clear regulations, adequate technological infrastructure and incentives for business adoption.