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Cryptocurrencies history, immersion in the production processes and future prospects of CBDCs

Author

Listed:
  • Israel Barrutia Barreto

    (Innova Scientific SAC)

  • Manuel Nicolas Morales Alberto

    (Universidad Nacional Santiago Antúnez de Mayolo)

  • Carlos Enrique García Soto

    (Universidad Nacional de Barranca)

  • José Cayetano Vergaray Huaman

    (Universidad Nacional de Barranca)

Abstract

This article aims to give a review about cryptocurrencies and their role in the modern economy. This work focuses on the immersion of cryptofinance in the real sector of the economy and its productive processes, from its creation and its underlying technology to the conception and future development of central bank digital currencies (CBDC). It is found that so far cryptocurrencies, despite their great popularity in certain sectors, still have little relevance in productive processes. However, and especially with the possibility of the monetary authorities issuing their version of digital currency, it is expected that the relationship between cryptofinance and the real sector of the economy will be growing.

Suggested Citation

  • Israel Barrutia Barreto & Manuel Nicolas Morales Alberto & Carlos Enrique García Soto & José Cayetano Vergaray Huaman, 2023. "Cryptocurrencies history, immersion in the production processes and future prospects of CBDCs," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 99, pages 245-282, July-Dece.
    • Handle: RePEc:lde:journl:y:2023:i:99:p:245-282
    DOI: 10.17533/udea.le.n99a351176
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    More about this item

    Keywords

    Cryptocurrency; Digital economy; Financial technology; Currency; central bank;
    All these keywords.

    JEL classification:

    • 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
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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