Evolution of Digital Currencies

Yun Wu and Wei Zhu
Additional contact information
Yun Wu: The People’s Bank of China
Wei Zhu: Aldelo LP

Chapter Chapter 2 in The Fundamentals of Digital Currency, 2024, pp 15-34 from Springer

Abstract: Abstract What constitutes money and how has Bitcoin reshaped it? Why do we say that digital currencies represent not only new ways of payment but also an entirely new form of money? How will digital currencies challenge conventional financial systems and theories? This Chapter examines the chronicle of money, focusing on the impact of Bitcoin on redefining currency. We explore how Bitcoin, through its decentralized nature and blockchain technology, has greatly challenged traditional notions of money. We further delve into digital currencies as more than just new payment methods, highlighting their role as a new form of money. This evolution signifies a considerable shift in the financial landscape, as digital currencies offer alternative transaction methods and embody a totally new monetary concept, reshaping existing financial theories and systems.

Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:sprchp:978-981-97-8261-1_2

Ordering information: This item can be ordered from
http://www.springer.com/9789819782611

DOI: 10.1007/978-981-97-8261-1_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().