Journal article
Kryptowährungen - ein Problem für die Geldpolitik?



Publication Details
Authors:
Hanl, A.; Michaelis, J.
Publication year:
2017
Journal:
Wirtschaftsdienst, Zeitschrift für Wirtschaftspolitik
Pages range:
363-370
Volume number:
97
Issue number:
5
Languages:
German

Abstract


Cryptocurrencies such as Bitcoin may revolutionise the financial system by at least partially replacing intermediaries such as central banks and commercial banks. The blockchain technology enables users to perform financial transactions on a peer-to-peer basis. This imposes a serious threat on the financial intermediaries as well as on monetary policy authorities. In this paper, we examine how well cryptocurrencies fulfill the functions of a fiat money and discuss the comparative advantages of cryptocurrencies. We proceed by exploring the implications of digital currencies for the concept and conduct of monetary policy.




Keywords
Cryptocurrency, Geldpolitik, Kryptowährung, Monetary Policy

Last updated on 2021-11-06 at 13:57