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. repec:zib:zbseps:v:2:y:2022:2:1:p:44-52 is not listed on IDEAS
    2. 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.
    3. 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.
    4. 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.
    5. 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.
    6. Rana, Jyoti & Paul, Justin, 2017. "Consumer behavior and purchase intention for organic food: A review and research agenda," Journal of Retailing and Consumer Services, Elsevier, vol. 38(C), pages 157-165.
    7. Drini Imami & Engjell Skreli & Edvin Zhllima & Catherine Chanb, 2017. "Consumer attitudes towards organic food in the Western Balkans - the case of Albania," Economia agro-alimentare, FrancoAngeli Editore, vol. 19(2), pages 245-260.
    8. GwanSeon Kim & Jun Ho Seok & Tyler B. Mark, 2018. "New Market Opportunities and Consumer Heterogeneity in the U.S. Organic Food Market," Sustainability, MDPI, vol. 10(9), pages 1-17, September.
    9. Ratchaneekorn Dansirichaisawat, 2014. "Discovering Environmental Attitude and Lifestyle Segmentation of Green Consumers: a Conceptual Model for Research," Journal of Social and Development Sciences, AMH International, vol. 5(2), pages 102-110.
    10. Chialue, L. & Moustier, P., 2018. "Laos consumer perceptions of rice quality and safety: Insights from a conjoint analysis," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 276030, International Association of Agricultural Economists.
    11. Nilashi, Mehrbakhsh & Ahmadi, Hossein & Arji, Goli & Alsalem, Khalaf Okab & Samad, Sarminah & Ghabban, Fahad & Alzahrani, Ahmed Omar & Ahani, Ali & Alarood, Ala Abdulsalam, 2021. "Big social data and customer decision making in vegetarian restaurants: A combined machine learning method," Journal of Retailing and Consumer Services, Elsevier, vol. 62(C).
    12. Ki-Hueng Kim & Kwan-Ryul Lee, 2019. "What Are South Korean Consumers’ Concerns When Buying Eco-Friendly Agricultural Products?," Sustainability, MDPI, vol. 11(17), pages 1-13, August.
    13. Yu, Xiaohua & Gao, Zhifeng & Zeng, Yinchu, 2014. "Willingness to pay for the “Green Food” in China," Food Policy, Elsevier, vol. 45(C), pages 80-87.
    14. Krittinee Nuttavuthisit & John Thøgersen, 2017. "The Importance of Consumer Trust for the Emergence of a Market for Green Products: The Case of Organic Food," Journal of Business Ethics, Springer, vol. 140(2), pages 323-337, January.
    15. Wongprawmas, Rungsaran & Canavari, Maurizio, 2015. "Heterogeneity in consumer preferences for food safety lavel in Thailand," 143rd Joint EAAE/AAEA Seminar, March 25-27, 2015, Naples, Italy 202744, European Association of Agricultural Economists.
    16. Teerapong Pienwisetkaew & Peerapong Wongthahan & Phaninee Naruetharadhol & Sasichakorn Wongsaichia & Chonnipa Vonganunsuntree & Siraphat Padthar & Santi Nee & Ping He & Chavis Ketkaew, 2022. "Consumers’ Intention to Purchase Functional Non-Dairy Milk and Gender-Based Market Segmentation," Sustainability, MDPI, vol. 14(19), pages 1-25, September.
    17. Abate, Gashaw T. & Bernard, Tanguy & de Janvry, Alain & Sadoulet, Elisabeth & Trachtman, Carly, 2021. "Introducing quality certification in staple food markets in Sub-Saharan Africa: Four conditions for successful implementation," Food Policy, Elsevier, vol. 105(C).
    18. 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.
    19. Schott, Lenna & Bernard, John, 2015. "Comparing Consumer's WIllingness to Pay for Conventional, Non-Certified Organic and Organic Milk from Small and Large Farms," Journal of Food Distribution Research, Food Distribution Research Society, vol. 46(3), pages 1-20, November.
    20. Manuela Vega-Zamora & Manuel Parras-Rosa & Francisco José Torres-Ruiz, 2020. "You Are What You Eat: The Relationship between Values and Organic Food Consumption," Sustainability, MDPI, vol. 12(9), pages 1-13, May.
    21. Idda, Lorenzo & Madau, Fabio A. & Pulina, Pietro, 2008. "The Motivational Profile of Organic Food Consumers: a Survey of Specialized Stores Customers in Italy," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43946, European Association of Agricultural Economists.

    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.