Designing a Global Digital Currency
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Stablecoins point to a future where money becomes predominantly global and digital, but bankless.
“Stablecoins point to a future where money becomes predominantly global and digital, but bankless (Balvers and McDonald, 2017).”
From Self-Sovereign Identity in a Globalized World: Credentials-Based Identity Systems as a Driver for Economic Inclusion (2020) · cites this paper as Balvers and McDonald, 2017
Section 2.2 says stable digital currencies could help realize a global currency, and the Conclusions say improved stability could move them toward that ideal. The paper does not predict that money will become predominantly global and digital or that banks will disappear; Section 3.4 instead describes the Ethereum platform as an intermediary analogous to a depository institution. Page numbers were not available in our copy. (LLM, conf=0.86)
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Cites
Monopoly Without a Monopolist: An Economic Analysis of the Bitcoin Payment System
Huberman, G., Leshno, J., & Moallemi, C. C. (2017) · SSRN Electronic Journal · doi:10.2139/ssrn.3032375 · Cited by 83 · see citing works
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Cited by
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Wang, F., & De Filippi, P. (2020) · Frontiers in Blockchain · doi:10.3389/fbloc.2019.00028 · Cited by 143 · see citing works
Tokenomics: Dynamic adoption and valuation
Cong, L. W., Li, Y., & Wang, N. (2021) · The Review of Financial Studies · doi:10.1093/rfs/hhaa089 · Cited by 58 · see citing works
- Authors
- Balvers, R. J., & McDonald, B.
- Affiliations
- McMaster University (CA)
- University of Notre Dame (US)
- Corresponding author
- Balvers, Ronald J.
- ORCID
- Balvers, Ronald J.
- Venue
- Journal of International Money and Finance
- Publisher
- Elsevier BV
- Published
- 2021-03
- Volume
- 111
- Pages
- 102317
- ISSN
- 0261-5606 (ISSN-L)
- OpenAlex
- W2761250784
- Cited by
- 40
- References
- 1
- Citations by year
- 2026: 3 · 2025: 4 · 2024: 3 · 2023: 7 · 2022: 11 · 2021: 4 · 2020: 5 · 2019: 2 · 2018: 1
- FWCI
- 4.08
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Journal of International Money and Finance (publishedVersion)
- SSRN Electronic Journal (publishedVersion)
- MacSphere (McMaster University) (submittedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- MacSphere (McMaster University)
- Topics
- Physical Sciences › Computer Science › Information Systems › Blockchain Technology Applications and Security
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic theories and models
- Keywords
- cryptocurrency, seigniorage, price stability, inflation targeting, currency pegging, cryptocurrency portfolios, monetary policy design
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