Transformations of monetary systems – from bullion to digital
currencies Cover Image

Przemiany systemów pieniężnych – od kruszcu do walut cyfrowych
Transformations of monetary systems – from bullion to digital currencies

Author(s): Paweł Marszałek
Subject(s): National Economy, Economic development, Public Finances, ICT Information and Communications Technologies
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: technological development; money; monetary system; central bank digital currencies;

Summary/Abstract: Starting from the historically first types of monetary systems, based on metal money, to the dissemination of fully fiduciary money,certain specific trends can be distinguished in the construction and functioning of these systems. The most important among themwere the progressive dematerialization of money and the strengthening of the state (governmental) monetary monopoly. Both trendshave become even more pronounced in the last three decades with the impact of globalization, financialization and technologicaladvances on monetary systems. At the same time, in recent years, changes in monetary systems, as a result of a combination ofthese and completely new processes, have accelerated, affecting the properties of contemporary money and the operation of centralbanks. In this context, the aim of the article is to characterize the two mentioned trends in the evolution of money and centralbanks, and to present the consequences of these processes for the shape of monetary systems and their further development.

  • Issue Year: 2024
  • Issue No: 1
  • Page Range: 73-92
  • Page Count: 20
  • Language: Polish