The Blockchain Revolution: Decoding Digital Currencies

David Andolfatto () and Fernando Martin

Review, 2022, vol. 104, issue 3, 149-165

Abstract: Cryptocurrencies and decentralized finance have grown considerably since the publication of the white paper on bitcoin in 2009. This article presents an overview of cryptocurrencies, blockchain technology, and their applications, explaining the spirit of the enterprise and how it compares with traditional operations. We discuss money, digital money, and payments; cryptocurrencies, blockchain, and the double-spending problem of digital money; decentralized finance; and central bank digital currency.

Keywords: blockchain; digital currencies; cryptocurrencies; decentralized finance; central bank digital currency (search for similar items in EconPapers)
JEL-codes: E42 E44 E58 G21 G23 G28 G34 (search for similar items in EconPapers)
Date: 2022
Note: This article is derived from an essay published in the 2021 annual report of the Federal Reserve Bank of St Louis: https://www.stlouisfed.org/annual-report/2021/essay.
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://files.stlouisfed.org/files/htdocs/publicat ... gital-currencies.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlrv:94512

DOI: 10.20955/r.104.149-65

Access Statistics for this article

Review is currently edited by Juan M. Sanchez

More articles in Review from Federal Reserve Bank of St. Louis Contact information at EDIRC.
Bibliographic data for series maintained by Scott St. Louis ().