Virtual currencies and their potential impact on financial markets and monetary policy

Marek Dabrowski and Lukasz Janikowski

No 495, CASE Reports from CASE-Center for Social and Economic Research

Abstract: Virtual currencies are a contemporary form of private money. Thanks to their technological properties, their global transaction networks are relatively safe, transparent, and fast. This gives them good prospects for further development. However, they remain unlikely to challenge the dominant position of sovereign currencies and central banks, especially those in major currency areas. As with other innovations, virtual currencies pose a challenge to financial regulators, in particular because of their anonymity and trans-border character.

Keywords: virtual currency; private money; sovereign currency; free banking; monetary policy; central bank; financial regulation; financial market; currency substitution (search for similar items in EconPapers)
JEL-codes: E42 E58 F31 G18 G28 N21 N23 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sec:report:0495

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