Discussion on: “Programmable money: next generation blockchain-based conditional payments” by Ingo Weber and Mark Staples

Michael Burda

Digital Finance, 2022, vol. 4, issue 2, No 2, 127-131

Abstract: Abstract My comment on Weber and Staples (Digit Financ, https://doi.org/10.1007/s42521-022-00064-8 , 2022) elaborates an economic perspective of their “programmable money” proposal. While claims issued and tendered for goods and services resemble money, a number of issues must be resolved before this innovation is feasible as money in analog trade or digital finance. These include secondary tradability, permissioned access, standardization and transparency. Programmable money is an important step towards the implementation of contingent commodities in the sense of Arrow and Debreu (Econometrica, 22(3):265–290, 1954) and Debreu (1959).

Keywords: Cryptocurrency valuation; Programmable money; Permissioned ledger; Conditional payments; Arrow-Debreu commodities; Jevons' functions of money (search for similar items in EconPapers)
JEL-codes: D83 E42 G12 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s42521-022-00064-8

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