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Sharing communities – Community currency in the sharing economy

Author

Listed:
  • Eszter Szemerédi

    (Doctoral School of Regional and Economic Sciences, Széchenyi István University, Győr, Hungary
    Centre for Economic and Regional Studies, Intstitute for Regional Studies, West Hungarian Research Department, Győr, Hungary)

  • Tibor Tatay

    (Department of Economic Analysis, Széchenyi István University, Győr, Hungary)

Abstract

For the further development and more efficient operation of the sharing economy, a fast and inexpensive peer-to-peer payment system is an essential element. The aim of this study is to outline a prototype that ensures the automation and decentralization of processes through smart contracts without blockchain technology. The model has been built based on the narrative that a community currency created through smart contracts can promote genuine practices of sharing as opposed to the profit-oriented approach that most of the currently operating sharing economy platforms have. Features of the model, such as ease of use, high-speed transactions without transaction cost are benefits that can provide a more efficient alternative to the traditional or to the cryptocurrency-based centralized sharing economy platforms.

Suggested Citation

  • Eszter Szemerédi & Tibor Tatay, 2021. "Sharing communities – Community currency in the sharing economy," Society and Economy, Akadémiai Kiadó, Hungary, vol. 43(1), pages 38-59, March.
    • Handle: RePEc:aka:soceco:v:43:y:2021:i:1:p:38-59
    DOI: 10.1556/204.2020.00027
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    More about this item

    Keywords

    sharing economy; smart contract; community currency;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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