State-Sponsored Cryptocurrencies: The Diverse Motivations
Discussion Paper Series: Notes on the 21st Century, 2020
13 Pages Posted: 19 Mar 2020
Date Written: February 23, 2020
In addition to the traditional money supply, an increasing number of sovereign governments have begun to stress their commitment to launching cryptocurrencies as digital monetary instruments with a degree of substitutability with extant legal tender. The question that evidently arises is why sovereign countries would engage in such initiatives at this juncture. This paper addresses this question by offering a set of rationales for the undertaking of state-sponsored cryptocurrencies, and thereby contributes to the understanding of monetary public administration in the digital age.
Keywords: Cryptocurrency, Blockchain, Bitcoin, IT, Surveillance, Government
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