Should central banks be concerned about virtual currencies?
Analyse approfondie
02-07-2018
Virtual currencies have generated much discussion over the past few years with some believing they are an improvement on state-issued currencies and will end up replacing them. This paper argues this is extremely unlikely. Cryptocurrencies such as Bitcoin do not work well as money because of security weaknesses and the volatility of their price relative to traditional currencies. The theory that the private sector will choose to replace a state-backed currency with privately-issued currency also has little historical backing. This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.
Analyse approfondie
Auteur externe
Professor Karl Whelan
À propos de ce document
Type de publication
Domaine politique
Mot-clé
- application de l'informatique
- banque centrale
- documentation
- FINANCES
- industrie de l'information
- information et traitement de l'information
- informatique et traitement des données
- monnaie virtuelle
- numérisation
- pays tiers
- politique de coopération
- PRODUCTION, TECHNOLOGIE ET RECHERCHE
- RELATIONS INTERNATIONALES
- sécurité des systèmes d’information
- technologie et réglementation technique
- technologie numérique
- économie monétaire
- ÉDUCATION ET COMMUNICATION
- émission monétaire