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Some Economics of Private Digital Currency

  • Joshua S. Gans
  • Hanna Halaburda

This paper reviews some recent developments in digital currency, focusing on platform-sponsored currencies such as Facebook Credits. In a model of platform management, we find that it will not likely be profitable for such currencies to expand to become fully convertible competitors to state-sponsored currencies.

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File URL: http://www.bankofcanada.ca/wp-content/uploads/2013/11/wp2013-38.pdf
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Paper provided by Bank of Canada in its series Working Papers with number 13-38.

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Length: 30 pages
Date of creation: 2013
Date of revision:
Handle: RePEc:bca:bocawp:13-38
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Web page: http://www.bank-banque-canada.ca/

References listed on IDEAS
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  1. Jean-Charles Rochet & Jean Tirole, 2003. "Platform Competition in Two-Sided Markets," Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, 06.
  2. repec:rje:randje:v:37:y:2006:3:p:668-691 is not listed on IDEAS
  3. Gans Joshua S & King Stephen P, 2003. "The Neutrality of Interchange Fees in Payment Systems," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-18, January.
  4. Jean-Charles Rochet & Jean Tirole, 2002. "Cooperation Among Competitors: Some Economics Of Payment Card Associations," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 549-570, Winter.
  5. Rockoff, Hugh, 1974. "The Free Banking Era: A Reexamination," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(2), pages 141-67, May.
  6. E. Glen Weyl, 2010. "A Price Theory of Multi-sided Platforms," American Economic Review, American Economic Association, vol. 100(4), pages 1642-72, September.
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