Some Economics of Private Digital Currency
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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- Jean-Charles Rochet & Jean Tirole, 2003.
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- repec:rje:randje:v:37:y:2006:3:p:668-691 is not listed on IDEAS
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