CRYPTO-CURRENCIES - AN INTRODUCTION TO NOT-SO-FUNNY MONEYS

【Author】 Smith, Christie; Kumar, Aaron

【Source】JOURNAL OF ECONOMIC SURVEYS

【影响因子】4.142

【Abstract】We introduce the distributed ledger (blockchain) technology of crypto-currencies. We examine the 'monetary' attributes of crypto-currencies, and describe some of the reasons they have been adopted. The paper discusses the mechanics of Bitcoin - the original crypto-currency - to illustrate the fundamental elements of decentralized crypto-currencies. We then provide a high-level summary of the implications of crypto-currencies for consumers, financial systems, and for monetary and regulatory authorities. We argue that crypto-currencies are unlikely to supplant traditional fiat currencies and we anticipate an enduring role for financial intermediaries in facilitating credit.

【Keywords】Bitcoin; Blockchain; Crypto-currency; Digital currency; Distributed ledger; Virtual currency

【发表时间】2018 DEC

【收录时间】2022-01-02

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