A new token: the CommodCoin. What could be its interest for financial market? A macro-economic modelling

Dominique Guegan ()
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Dominique Guegan: UP1 - Université Paris 1 Panthéon-Sorbonne, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, Labex ReFi - UP1 - Université Paris 1 Panthéon-Sorbonne, IPAG Business School, University of Ca’ Foscari [Venice, Italy]

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: In this paper, we discuss the interest for financial market of a tokens built on commodities. First, we introduce the notion of tokens, and we propose a classification of tokens which have be built based on different crypto-currencies and then on different classes and generations of blockchains, some are created by states in order to intensify the local or the national economy. Then finally, we introduce a tokens indexed on a commodity which could be proposed by a banking system in view to develop a monopolistic market and control the sector of this commodity. We propose a macro-economic model where a part of the economy uses the CommodCoin, and then a counter-factual analysis to analyze the impact of the introduction of the CommodCoin on the economy. After the introduction of a baseline model corresponding to a small open economy model with two non-competing sectors using the fiat currency, we present a counter-factual model in which the two sectors can use the CommodCoin for intra-sector transactions and also fiat currencies. We question the interest of this kind of proposal for the financial industry.

Keywords: Tokens; cryptocurrency; monipolistic market; Macro economy (search for similar items in EconPapers)
Date: 2018-06-11
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Citations: View citations in EconPapers (1)

Published in Digital, Innovation, Entrepreneurship and Financing, Jun 2018, Lyon, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-01897052

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