IDEAS home Printed from https://ideas.repec.org/a/ucm/ijohet/v7y2020i1p15-28.html
   My bibliography  Save this article

Hayek and the cryptocurrency revolution
[Hayek y la revolución de las criptomonedas]

Author

Listed:
  • David Sanz Bas

    (Universidad Católica de Ávila, España.)

Abstract

The emergence of cryptocurrencies has been one of the most notable monetary phenomenon of the last decade. Many academics and analysts have found a clear precedent to this event in Friedrich Hayek’s latest monetary work, Denationalization of money. The aim of this article is to analyze what we can learn about cryptocurrencies by re-reading this book. As will be proven, Hayek would surely have rejected the idea that Bitcoin and cryptocurrencies with similar characteristics could be accepted as money in the market. Furthermore, this paper will prove that a very close connection between Stablecoins and private money exists, in the line with the Austrian economist’s predictions in a context of monetary competition.

Suggested Citation

  • David Sanz Bas, 2020. "Hayek and the cryptocurrency revolution [Hayek y la revolución de las criptomonedas]," Iberian Journal of the History of Economic Thought, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Dpto. Historia e Instituciones Económicas I., vol. 7(1), pages 15-28.
  • Handle: RePEc:ucm:ijohet:v:7:y:2020:i:1:p:15-28
    DOI: 10.5209/ijhe.69403
    as

    Download full text from publisher

    File URL: https://eprints.ucm.es/id/eprint/61915/1/20-7-1(15-28).pdf
    Download Restriction: no

    File URL: https://libkey.io/10.5209/ijhe.69403?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Badea Liana & Radu Cezara-Georgiana & Deak Roxana Elena, 2024. "The Impact Of Complementary Currency Systems On The Economy," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 15-21, February.
    2. Sergio Luis Náñez Alonso & Javier Jorge-Vázquez & Miguel Ángel Echarte Fernández & David Sanz-Bas, 2024. "Bitcoin’s bubbly behaviors: does it resemble other financial bubbles of the past?," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.

    More about this item

    Keywords

    Cryptocurrencies; Hayek; Bitcoin; Stablecoins; Currency competition.;
    All these keywords.

    JEL classification:

    • E14 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Austrian; Evolutionary; Institutional
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ucm:ijohet:v:7:y:2020:i:1:p:15-28. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Águeda González Abad (email available below). General contact details of provider: https://edirc.repec.org/data/feucmes.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.