Can Cryptocurrencies Become a Commonly Accepted Means of Exchange?

Por Nicolás Cachanosky. Publicado el 25/7/20 en: https://puntodevistaeconomico.com/2020/07/25/can-cryptocurrencies-become-a-commonly-accepted-means-of-exchange/

This chapter studies the challenges a cryptocurrency faces to become a common means of exchange. In particular, the paper discusses the scalability constraint that limits the number of transactions a cryptocurrency may be able to verity per unit of time, the network effect in goods that function as money that increases the cost of new currencies to gain market share, and the implications of the fixed monetary rule present in most cryptocurrencies that departs from an elastic optimal monetary policy. Potential solutions for each case are also discussed.

Download paper from SSRN.

Nicolás Cachanosky es Doctor en Economía, (Suffolk University), Lic. en Economía, (UCA), Master en Economía y Ciencias Políticas, (ESEADE). Fué profesor de Finanzas Públicas en UCA y es Assistant Professor of Economics en Metropolitan State University of Denver. Es profesor de UCEMA. Publica en @n_cachanosky

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