IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-03513449.html
   My bibliography  Save this paper

A blockchain application to the management of local complementary currencies

Author

Listed:
  • Sothearath Seang

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

  • Dominique Torre

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

This paper proposes a theoretical setting to analyze the possibility of implementing a blockchain governance to local complementary currencies. The local currency that we capture is used to promote objectives such as short distribution channels, high quality products, and sustainable behaviors at the local level. Its viability relies on the ability of shops to support their involvement in the advantages derived from the use of the currency, on the interest of consumers in said advantages, and on the cost of the governance method used. The blockchain solution appears to be suitable in this specific setting that requires a substantial level of security and reproducibility. The model includes a control by the issuer or administrator of the currency of the advantages perceived by heterogeneous consumers. It also integrates the specifications of the blockchain (rewards of miners in a Proof-of-Work protocol, number of transactions per block) and their cost for the collectivity. Analytical results evaluate the conditions of sustainability of the system and numerical simulations from the model illustrate the diverse specifications of the trade-offs between the costs and advantages of such system for the population.

Suggested Citation

  • Sothearath Seang & Dominique Torre, 2021. "A blockchain application to the management of local complementary currencies," Post-Print halshs-03513449, HAL.
    • Handle: RePEc:hal:journl:halshs-03513449
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03513449
    as

    Download full text from publisher

    File URL: https://shs.hal.science/halshs-03513449/document
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Roitner-Schobesberger, Birgit & Darnhofer, Ika & Somsook, Suthichai & Vogl, Christian R., 2008. "Consumer perceptions of organic foods in Bangkok, Thailand," Food Policy, Elsevier, vol. 33(2), pages 112-121, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Femke Hilverda & Margôt Kuttschreuter, 2018. "Online Information Sharing About Risks: The Case of Organic Food," Risk Analysis, John Wiley & Sons, vol. 38(9), pages 1904-1920, September.
    2. Samia Ayyub & Xuhui Wang & Muhammad Asif & Rana Muhammad Ayyub, 2018. "Antecedents of Trust in Organic Foods: The Mediating Role of Food Related Personality Traits," Sustainability, MDPI, vol. 10(10), pages 1-17, October.
    3. Charity, Nabwire Ephamia Juma, 2016. "Economic Analysis Of Consumers’ Awareness And Willingness To Pay For Geographical Indicators And Other Quality Attributes Of Honey In Kenya," Research Theses 265574, Collaborative Masters Program in Agricultural and Applied Economics.
    4. Charalampia N. Anastasiou & Kiriaki M. Keramitsoglou & Nikos Kalogeras & Maria I. Tsagkaraki & Ioanna Kalatzi & Konstantinos P. Tsagarakis, 2017. "Can the “Euro-Leaf” Logo Affect Consumers’ Willingness-To-Buy and Willingness-To-Pay for Organic Food and Attract Consumers’ Preferences? An Empirical Study in Greece," Sustainability, MDPI, vol. 9(8), pages 1-17, August.
    5. repec:zib:zbseps:v:2:y:2022:2:1:p:44-52 is not listed on IDEAS
    6. Iliriana Miftari & Rainer Haas & Oliver Meixner & Drini Imami & Ekrem Gjokaj, 2022. "Factors Influencing Consumer Attitudes towards Organic Food Products in a Transition Economy—Insights from Kosovo," Sustainability, MDPI, vol. 14(10), pages 1-14, May.
    7. Schreinemachers, Pepijn & Tipraqsa, Prasnee, 2012. "Agricultural pesticides and land use intensification in high, middle and low income countries," Food Policy, Elsevier, vol. 37(6), pages 616-626.
    8. Fabio Gaetano Santeramo & Emilia Lamonaca, 2019. "The Effects of Non‐tariff Measures on Agri‐food Trade: A Review and Meta‐analysis of Empirical Evidence," Journal of Agricultural Economics, Wiley Blackwell, vol. 70(3), pages 595-617, September.
    9. Matias, Denise Margaret S. & Tambo, Justice A. & Stellmacher, Till & Borgemeister, Christian & von Wehrden, Henrik, 2018. "Commercializing traditional non-timber forest products: An integrated value chain analysis of honey from giant honey bees in Palawan, Philippines," Forest Policy and Economics, Elsevier, vol. 97(C), pages 223-231.
    10. Xiaojing Li & Xianli Xia & Jiazhen Ren, 2022. "Can the Participation in Quality Certification of Agricultural Products Drive the Green Production Transition?," IJERPH, MDPI, vol. 19(17), pages 1-16, September.
    11. Faical Akaichi & Rodolfo M. Nayga, Jr & José M. Gil, 2012. "Assessing Consumers’ Willingness to Pay for Different Units of Organic Milk: Evidence from Multiunit Auctions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 60(4), pages 469-494, December.
    12. Marina Jeger & Marija Ham & Vjekoslav Leko, 2014. "Attitudes Toward Green Food Purchase Among Students: Evidence From Eastern Croatia," Economy of eastern Croatia yesterday, today, tommorow, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 3, pages 354-363.
    13. Roman Ostapenko & Yuliia Herasymenko & Vitalii Nitsenko & Svitlana Koliadenko & Tomas Balezentis & Dalia Streimikiene, 2020. "Analysis of Production and Sales of Organic Products in Ukrainian Agricultural Enterprises," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    14. Francisco José Torres‐Ruiz & Manuela Vega‐Zamora & Manuel Parras‐Rosa, 2018. "Sustainable Consumption: Proposal of a Multistage Model to Analyse Consumer Behaviour for Organic Foods," Business Strategy and the Environment, Wiley Blackwell, vol. 27(4), pages 588-602, May.
    15. Yang Runan & Takashino Nina & Fuyuki Katsuhito, 2022. "Japanese Consumers’ Willingness to Pay for Environmentally Friendly Farming Produce Based on Consumer Trustfulness," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 20(1), pages 1-14, May.
    16. Kersting, Sarah & Wollni, Meike, 2012. "New institutional arrangements and standard adoption: Evidence from small-scale fruit and vegetable farmers in Thailand," Food Policy, Elsevier, vol. 37(4), pages 452-462.
    17. Teresa Madureira & Fernando Nunes & José Veiga & Pablo Saralegui-Diez, 2021. "Choices in Sustainable Food Consumption: How Spanish Low Intake Organic Consumers Behave," Agriculture, MDPI, vol. 11(11), pages 1-18, November.
    18. Govindasamy, Ramu & Gao, Qun & Heckman, Joseph & Vellangany,Isaac & VanVranken, Richard, 2020. "Characteristics of Consumers Who Are Willing to Buy Certified Organic Produce: An Econometric Analysis," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 8(3), July.
    19. Raza, Syed Ali & Shah, Nida & Nisar, Wasay, 2019. "Consumer Buying Behavior of Organic Food with Respect to Health and Safety Concerns among Adolescents," MPRA Paper 93570, University Library of Munich, Germany.
    20. Francisco José Torres-Ruiz & Manuela Vega-Zamora & Manuel Parras-Rosa, 2018. "False Barriers in the Purchase of Organic Foods. The Case of Extra Virgin Olive Oil in Spain," Sustainability, MDPI, vol. 10(2), pages 1-14, February.
    21. Rodolfo Bernabéu & Margarita Brugarolas & Laura Martínez-Carrasco & Roberto Nieto-Villegas & Adrián Rabadán, 2023. "The Price of Organic Foods as a Limiting Factor of the European Green Deal: The Case of Tomatoes in Spain," Sustainability, MDPI, vol. 15(4), pages 1-15, February.

    More about this item

    Keywords

    community currency; digitization; heterogeneous agents; payment system;
    All these keywords.

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • L8 - Industrial Organization - - Industry Studies: Services

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:hal:journl:halshs-03513449. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.