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Kryptowährungen- Ein Problem für die Geldpolitik?

Andreas Hanl () and Jochen Michaelis
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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)

Abstract: 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
Date: 2017
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Journal Article: Kryptowährungen — ein Problem für die Geldpolitik? (2017) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:201715

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