Crypto currency's "economic nature" in the light of new monetary theory
DOI:
https://doi.org/10.5377/nexo.v34i01.11304Keywords:
Currency, Foreign exchange market, Monetary unit, Bank notes, Electronic moneyAbstract
The systemic and functional analysis of economic nature of Crypto currency within the modern theory of money is a necessary essential component of the study that allowed the authors to formulate a vision of social and economic model of future international monetary system. The authors consider the substance of money in a dialectic unity of the transformation of forms and spheres of its being. The forms of being of money are: material, monetary, paper, electronic. The spheres of being of money are: social, - the "symbol money"; economic, - the "bank notes"; political and legal, - "monetary units". In this paper we show that money is a financial instrument. Money is a market form of universal claim to a share in the wealth of society. The uncovering of internal intrinsic structure of money allows the authors to show convincingly that a currency, especially a "Crypto currency", cannot have and does not have an "economic nature". In considering the process of historical transformation of international monetary systems, taking into account the real achievements of financial, information, program and social engineering for the creation of a digital "gold" the authors believe that the social and economic model of future international monetary system has received its real approbation.
Downloads
596
Downloads
Published
How to Cite
Issue
Section
License
The authors who publish in Nexo Scientific Journal agree to the following terms:
- Authors retain the copyright and grant the journal the right of the first publication under the license Creative Commons Attribution License, which allows others to share the work with a recognition of the authorship of the work and the initial publication in Nexo Scientific Journal.
- Authors may separately establish additional agreements for the non-exclusive distribution of the version of the work published in the journal (for example, in an institutional repository or a book), with the recognition of the initial publication in Nexo Scientific Journal.
- Authors are allowed and encouraged to disseminate their works electronically (for example, in institutional repositories or in their own website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published works.
