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Yesterday's controversies for tomorrow's money

Author

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  • Romain Baeriswyl

Abstract

While money has evolved from natural commodities to digital tokens, the debate about the ideal money has remained the same throughout the ages. Historical controversies about the origin, nature, and double-spending of money offer valuable insights for navigating the new forms of money tokens such as cryptocurrencies, central bank digital currencies and stablecoins.

Suggested Citation

  • Romain Baeriswyl, 2026. "Yesterday's controversies for tomorrow's money," Working Papers 2026-10, Swiss National Bank.
    • Handle: RePEc:snb:snbwpa:2026-10
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    File URL: https://www.snb.ch/en/publications/research/working-papers/2026/working_paper_2026_10
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    Keywords

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    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Systems; Standards; Regimes; Government and the Monetary System
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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