The Economics of Cryptocurrencies and Digital Money
A Monetary Framework with a Game Theory Approach
Series: Palgrave Studies in Financial Services Technology;
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Product details:
- Publisher Springer International Publishing
- Date of Publication 27 November 2024
- Number of Volumes 1 pieces, Book
- ISBN 9783031442506
- Binding Paperback
- See also 9783031442476
- No. of pages168 pages
- Size 210x148 mm
- Language English
- Illustrations XVI, 168 p. 10 illus., 8 illus. in color. Illustrations, black & white 616
Categories
Long description:
Cryptocurrencies, stablecoins and central bank digital currency open uncharted territory for the nascent economics of new digital money. This Pivot addresses the foundations of the monetary problem raised by Bitcoin and followers, starting with the game theory of Proof-of-Work as rent-seeking contest and a lively account of the different ways of trust that blockchain solutions and monetary institutions are meant to face. In so doing, the authors introduce the relevance of safe assets under the light of the principle of “no questions asked” that characterizes the monetary problem of the 2020s. Principles for regulation emerge in the perspective in which private issuers of digital coins are essentially issuers of demand deposits, and therefore bank-like entities. The potential role of central bank digital currency in the future monetary system is thoroughly discussed. Students and researchers in economics and finance, professionals and sophisticated readers may consider this book an essential guide to the challenging new dimensions of digital money.
MoreTable of Contents:
Chapter 1. Introduction.- Chapter 2. Blockchain, decentralized consensus and trust.- Chapter 3. The basic mining game..- Chapter 4. Higher level models .- Chapter 5. The future monetary system.- Chapter 6. Regulation.- Chapter 7. Conclusions.
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