FEATURES OF THE IMPLEMENTATION OF DIGITAL CURRENCY VALUES: FUNDAMENTAL PROBLEMS AND PROSPECTS FOR IMPROVEMENT

Анотація

The authors formulated the main pros and cons that encourage central banks to issue digital currency values, as a result of which certain fundamental problems that such a currency can cause in monetary policy are substantiated, and reforms that may be relevant in the future are proposed.Although far off, it may not be far-fetched to think of a future where, as in ancient Athens, money is produced privately, serving the "common" good reflected in democracy, free markets, and individual liberties by limiting the state's power over money by protecting competition and stopping illegal activities and tax evasion.However, until then, faced with the challenges of cryptocurrency, governments are likely to implement hybrid systems consisting of two nodes: one that involves a public digital mint that supplies electronic money on a voluntary basis, and another that is rich in cryptocurrencies that circulate in parallel and under conditions of competition.In such a setup, the government declares that all its transactions with the public will be settled and settled in its own electronic money, bitcoins and their denominated banknotes.As a result, government electronic money and bitcoin will become 209 reserve currency values.Demand for them will increase, incentives for financial institutions to issue banknotes denominated in them without state-imposed convertibility obligations.And just as importantly, until the government issues a mandatory electronic currency, as such an initiative would seriously undermine democracy and citizens' sovereignty, it will issue a voluntary one on terms that preserve its value.

Класифікація

Ідентифікатори

Схожі роботи