The properties of money commonly referenced in the economics literature were originally identified by Jevons (1876) and … Menger (1892) in the late 1800s and were intended to describe physical currencies, such as commodity money, metallic coins … quantum money. These forms of money have novel properties that have not been studied extensively within the economics …

Natürlich kennen Sie diese Vorurteile: Kryptogeld ist nur etwas für Kriminelle, Bitcoin verbraucht sinnlos …. Neben Bitcoin, Ether und digitalem Euro können das Stablecoins und digitalisierte Vermögenswerte wie Immobilien, Oldtimer … und Kunstwerke sein. Damit werden die Grenzen zwischen Geld und Vermögen verschwimmen. Diese Entwicklungen haben …

It is difficult for private agents to produce money that circulates at par with no questions asked. We study two cases … of privately-produced money: pre-Civil War U.S. private banknotes and modern stablecoins. Private monies are introduced … more money-like, but they do not always achieve a positive convenience yield. Technology advances and reputation formation …

functions of money. So-called stable coins are intended to bridge this gap, but whether they can be successfully scaled up and …