Cryptocurrencies and Hyperinflation

Critical Blockchain Research Initiative (CBRI) Working Papers

10 Pages Posted: 5 Feb 2019 Last revised: 22 Apr 2021

See all articles by Usman W. Chohan

Usman W. Chohan

UNSW Business School; Critical Blockchain Research Initiative (CBRI); International Association of Hyperpolyglots (HYPIA); Centre for Aerospace & Security Studies (CASS)

Date Written: March 21, 2021


This discussion paper considers the monetary role that cryptocurrencies can play as hedges against the crises stemming from hyperinflation. It also briefly examines such a relationship vis-a-vis currency devaluation and monetary defaults. The findings suggest that, for all the legitimate criticisms volleyed against cryptocurrencies (governance, legal, security), there are indeed certain macroeconomic issues which can draw upon the decentralized, apolitical, and deflationary monetary nature of cryptocurrencies. These advantages must then be weighted by monetary policy practitioners against the risks that still linger in the cryptocurrency space.

Keywords: Cryptocurrency, Hyperinflation, Bitcoin, Money Supply, Monetary Authority, Default, Currency

Suggested Citation

Chohan, Usman W., Cryptocurrencies and Hyperinflation (March 21, 2021). Critical Blockchain Research Initiative (CBRI) Working Papers, Available at SSRN: or

Usman W. Chohan (Contact Author)

UNSW Business School ( email )

UNSW Business School
High St
Sydney, NSW 2052

Critical Blockchain Research Initiative (CBRI) ( email )

International Association of Hyperpolyglots (HYPIA) ( email )

Montreal, Quebec

Centre for Aerospace & Security Studies (CASS) ( email )


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