Coronavirus: Case for Digital Money?

World Economics 21(1) (2020) 177-190

12 Pages Posted: 7 Aug 2020

See all articles by Zura Kakushadze

Zura Kakushadze

Quantigic Solutions LLC; Free University of Tbilisi

Jim Kyung-Soo Liew

Johns Hopkins University - Carey Business School

Date Written: March 14, 2020

Abstract

We discuss the pros of adopting government-issued digital currencies as well as a supranational digital iCurrency. One such pro is to get rid of paper money (and coinage), a ubiquitous medium for spreading germs, as highlighted by the recent coronavirus outbreak. We set forth three policy recommendations for adapting mobile devices as new digital wallets, regulatory oversight of sovereign digital currencies and user data protection, and a supranational digital iCurrency for facilitating international digital monetary linkages.

Keywords: coronavirus, COVID-19, SARS-CoV-2, digital money, monetary system, cash, digital wallet, dollar, U.S., China, currency, cryptocurrency, cashless society, touchless technology, payment, policy, regulation, government, mobile device, transaction, data protection, exorbitant privilege, crisis, debt

JEL Classification: G00, G10, G13, G15, G18, G21, G23, G28, C22, E40, E42, E43, E50, E52, E58, F31, F33, F65, I10, I18

Suggested Citation

Kakushadze, Zura and Liew, Jim Kyung-Soo, Coronavirus: Case for Digital Money? (March 14, 2020). World Economics 21(1) (2020) 177-190, Available at SSRN: https://ssrn.com/abstract=3554496 or http://dx.doi.org/10.2139/ssrn.3554496

Zura Kakushadze (Contact Author)

Quantigic Solutions LLC ( email )

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Stamford, CT 06901
United States
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HOME PAGE: http://www.linkedin.com/in/zurakakushadze

Free University of Tbilisi ( email )

Business School and School of Physics
240, David Agmashenebeli Alley
Tbilisi, 0159
Georgia

Jim Kyung-Soo Liew

Johns Hopkins University - Carey Business School ( email )

100 International Drive
Baltimore, MD 21202
United States

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