MoneyLab: Coining Alternatives
Session 5: Bitcoin and Beyond
Beat Weber (AT) - Overcoming the legitimacy crisis of money with Bitcoin?
Conference Day 2 (22 March 2014)
Overcoming the legitimacy crisis of money with Bitcoin?
Fuelled by the legitimacy crisis of the current monetary and financial system in the wake of the recent economic crisis, Bitcoin has gained much attention in recent years. While speculative trading and Bitcoin’s suspected use in non-legal activities have been at the centre of popular discussion, the project’s ambitions are larger. It claims to offer an alternative monetary and payment system. What can we infer from economic theory for these claims?