Cryptocurrencies as Instruments of State Economic Policy: Challenges and Opportunities
Cryptocurrencies as Instruments of State Economic Policy: Challenges and Opportunities
Author(s): Damian Wnukowski
Subject(s): Governance, Economic policy, Financial Markets, Fiscal Politics / Budgeting, Corruption - Transparency - Anti-Corruption
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Cryptocurrencies; economic policy; virtual currencies; decentralised payment systems; systems out of state control; terrorism financing;
Summary/Abstract: Virtual currencies (“cryptocurrencies”) rely on decentralised payment systems independent of the control of state institutions. However, some countries are interested in creating their own cryptocurrencies, citing low costs and speed of transactions. National digital currencies could stabilise a financial system that uses private cryptocurrency. Their use, however, may challenge, for example, the effectiveness of economic sanctions or combating terrorism financing.
Series: PISM Bulletin
- Page Count: 2
- Publication Year: 2019
- Language: English
- Content File-PDF
