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Theory of Money: From Ancient Japanese Copper Coins to Virtual Currencies

In: Blockchain and Crypto Currency

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Listed:
  • Makoto Yano

    (Research Institute of Economy, Trade and Industry (RIETI))

Abstract

Currently, virtual currenciesVirtual currency are targets of speculative activities and subject to many other problems. If, however, an ideal virtual currencyVirtual currency can be realized, it is expected that it will add a whole new dimension to our economic activities. Virtual currencyVirtual currency is very similar to deposit currencyDeposit currency in that data is used as moneyMoney. While deposit currenciesDeposit currency are centrally controlled by banks and other financial institutions, virtual currenciesVirtual currency are maintained in a decentralized manner by many people. Through decentralizationDecentralization, significant cost savings can be realized.

Suggested Citation

  • Makoto Yano, 2020. "Theory of Money: From Ancient Japanese Copper Coins to Virtual Currencies," Economics, Law, and Institutions in Asia Pacific, in: Makoto Yano & Chris Dai & Kenichi Masuda & Yoshio Kishimoto (ed.), Blockchain and Crypto Currency, chapter 0, pages 59-75, Springer.
    • Handle: RePEc:spr:eclchp:978-981-15-3376-1_4
    DOI: 10.1007/978-981-15-3376-1_4
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