Kryptowährungen- Ein Problem für die Geldpolitik?
Andreas Hanl () and
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Andreas Hanl: Universität Kassel
MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)
Cryptocurrencies such as Bitcoins may revolutionize the financial system by at least partially replacing intermediaries such as central banks and commercial banks. The blockchain technology enables users to transact on a peer-to-peer basis. This imposes a serious threat on the financial intermediaries as well as on monetary policy authorities. In this paper, we examine how well cryptocurrencies fulfill the functions of a fiat money and discuss the comparative advantages of cryptocurrencies. We proceed by exploring the implications of digital currencies for the concept and conduct of monetary policy.
Keywords: Bitcoin; Kryptowährung; Geldpolitik (search for similar items in EconPapers)
JEL-codes: E42 E52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-mac and nep-pay
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Journal Article: Kryptowährungen — ein Problem für die Geldpolitik? (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:201715
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