منابع مشابه
understanding Platform-Based Digital Currencies
This article focuses on digital currencies issued by Internet platforms such as Facebook and Amazon. Depending on the platform’s business model, its digital currency may be equipped with different attributes that affect how users can acquire, transfer or redeem the digital currency. In most cases, platforms restrict the functionality of their digital currencies to enhance the business model a...
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Interest in digital currencies, especially Bitcoin, has exploded over the past year. The cryptocurrency Bitcoin was created in 2009 by an anonymous entity operating under the pseudonym Satoshi Nakamoto. Using cryptographic primitives to create a digital currency is not particularly new – David Chaum proposed electronic cash nearly thirty years ago. What is different about Bitcoin is its success...
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We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates among the leading currencies is attainable. We show that a stable equilibrium can be reached in the case of two leading currencies, but not in the case of three. In our model, central banks of leading currencies attract, through the workings of their objective and policy, small cur...
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Crypto-currencies, like Bitcoins, are a relatively recent phenomena on the online Internet landscape and an emerging force in the financial sector. While not conforming to traditional institutional practices, they are gaining increasing acceptance as viable commercial currencies. With this technology presenting new opportunities, and its future largely dependent on external challenges, this con...
متن کاملWhat Should Central Banks Do?
I the last twenty years, there has been substantial rethinking about how central banks should do their job. This rethinking has led to major changes in how central banks operate, and we are now in an era in which central banks in many countries throughout the world have had notable success—keeping inflation low, while their economies experience rapid economic growth. In this lecture, I outline ...
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ژورنال
عنوان ژورنال: Courier of Kutafin Moscow State Law University (MSAL))
سال: 2020
ISSN: 2311-5998
DOI: 10.17803/2311-5998.2020.73.9.180-186