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Medientyp:
E-Artikel
Titel:
Hayek and the cryptocurrency revolution
Beteiligte:
Sanz Bas, David
Erschienen:
Universidad Complutense de Madrid (UCM), 2020
Erschienen in:
Iberian Journal of the History of Economic Thought, 7 (2020) 1, Seite 15-28
Sprache:
Nicht zu entscheiden
DOI:
10.5209/ijhe.69403
ISSN:
2386-5768
Entstehung:
Anmerkungen:
Beschreibung:
The emergence of cryptocurrencies has been one of the most notable monetary phenomenon of the last decade. Many academics and analysts have found a clear precedent to this event in Friedrich Hayek's latest monetary work, Denationalization of money. The aim of this article is to analyze what we can learn about cryptocurrencies by re-reading this book. As will be proven, Hayek would surely have rejected the idea that Bitcoin and cryptocurrencies with similar characteristics could be accepted as money in the market. Furthermore, this paper will prove that a very close connection between Stablecoins and private money exists, following the Austrian economist’s predictions in a context of monetary competition.