Abstract
For most of history, humans have used commodity currency. Fiat currency is a more recent development, first used around 1000 years ago, and today it is the dominant form of money. But this may not be the end of monetary history. Cryptocurrency is neither commodity money nor fiat money – it is a new, experimental kind of money. The cryptocurrency experiment may or may not ultimately succeed, but it offers a new mix of technical and monetary characteristics that raise different economic questions than other kinds of currency.
Cite
CITATION STYLE
Dourado, E., & Brito, J. (2014). Cryptocurrency. In The New Palgrave Dictionary of Economics (pp. 1–9). Palgrave Macmillan UK. https://doi.org/10.1057/978-1-349-95121-5_2895-1
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