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L’alternative monétaire Bitcoin : une perspective institutionnaliste

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  • Lakomski-Laguerre, Odile
  • Desmedt, Ludovic

Abstract

Depuis quelques années, nous assistons à l’émergence de monnaies d’un genre nouveau, reposant sur des procédés cryptographiques, gérées en pair à pair selon un consensus distribué. La plus représentative d’entre elles, le Bitcoin, est lancée après la crise financière de 2008 et vient contester un ordre monétaire fondé sur le crédit et le pouvoir bancaire. Ces crypto-monnaies viennent heurter la conception traditionnelle de la monnaie : unitaire, souveraine, territoriale et centralisée. Par conséquent, elles interrogent la théorie et renouvellent le débat sur la nature de la monnaie. Dans ce papier, nous proposons d’analyser le Bitcoin au filtre d’une théorie institutionnaliste de la monnaie. En tant qu’institution sociale, la monnaie est plus qu’une technologie, car elle participe à la construction d’un espace marchand s’articulant avec un ordre socio-économique. C’est pourquoi nous mettons en évidence les arguments de la contestation et les racines idéologiques qui sous-tendent le système Bitcoin : décentralisation, anti-étatisme (cryptage) et naturalisation de la monnaie (minage). En mettant en avant la notion centrale de confiance, nous nous intéressons ensuite à la capacité du projet Bitcoin à construire un ordre monétaire, certes alternatif, mais stable.

Suggested Citation

  • Lakomski-Laguerre, Odile & Desmedt, Ludovic, 2015. "L’alternative monétaire Bitcoin : une perspective institutionnaliste," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 18.
    • Handle: RePEc:rvr:journl:2015:11489
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    References listed on IDEAS

    as
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    7. Martin Chevalier & Benjamin Vignolles, 2014. "Le bitcoin : défi à la souveraineté monétaire des États et ressource pour le blanchiment d'argent," Reflets et perspectives de la vie économique, De Boeck Université, vol. 0(1), pages 122-125.
    8. L. Randall Wray, 2014. "From the State Theory of Money to Modern Money Theory: An Alternative to Economic Orthodoxy," Economics Working Paper Archive wp_792, Levy Economics Institute.
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    Cited by:

    1. Ahmed, Pepita Ould & Ponsot, Jean-François, 2015. "Contestations monétaires : une économie politique de la monnaie," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 18.
    2. Ludovic Desmedt & Odile Lakomski-Laguerre, 2020. "Du monnayage au crypto-monnayage," Post-Print hal-03824689, HAL.
    3. Orléan, André & Alary, Pierre & Desmedt, Ludovic, 2019. "Vers une « théorie générale de la monnaie marchande ». Entretien avec André Orléan," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 26.

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    More about this item

    Keywords

    Bitcoin; système de paiement; monnaie; cryptographie; banque; confiance; Bitcoin; payment system; currency; encryption; trust; Bitcom; sistema de pago; moneda; criptografía; bancos; confianza;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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