Cryptocurrencies

Sangaralingam Ramesh ()
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Sangaralingam Ramesh: University of Oxford

Chapter Chapter 4 in The Political Economy of Contemporary Human Civilisation, Volume II, 2025, pp 93-140 from Springer

Abstract: Abstract This chapter evaluates the transformative impact of digital currencies on global financial systems. It traces their origins from cryptographic research to the advent of Bitcoin in 2009, marking the rise of blockchain technology as a decentralized, transparent, and secure system for peer-to-peer transactions. The chapter explores the proliferation of altcoins like Ethereum, which introduced smart contracts and decentralized applications, and Litecoin, designed for faster, more efficient transactions. Key intersections with emerging technologies are analysed, such as AI’s role in enhancing blockchain scalability, automating smart contracts, and securing transactions, while also warning of risks like market volatility and advanced cyberattacks. Quantum computing is highlighted for its potential to break traditional cryptographic security while offering solutions for blockchain scalability. Nuclear fusion emerges as a critical advancement to address energy-intensive cryptocurrency mining, promising clean, sustainable energy to power decentralized networks. The chapter concludes by examining the challenges and opportunities cryptocurrencies present to traditional monetary systems, emphasizing their disruptive potential in reshaping economic and technological landscapes.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-84185-9_4

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DOI: 10.1007/978-3-031-84185-9_4

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