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Bitcoin to compete with Fiat as a result of rise of the internet

Friday 8 April 2016 11:42 CET | News

Private currencies, such as digital currencies like Bitcoin, may compete with government-issued alternatives.

A new research paper co-authored by an economics advisor at the Federal Reserve Bank of Philadelphia explores how private forms of money, including digital currencies, interact with one another in terms of price stability.

Among the notable arguments is that the rise of the internet has resulted in an environment in which private monies like Bitcoin can competitively emerge.

According to the report, the issuing of a private currency is logically separated from banking. Both tasks were historically linked for logistical reasons: banks had a central location in the network of payments that made it easy for them to introduce currency in circulation.


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Keywords: Bitcoin, mining, cryptocurrency, digital currency, online payments, online security, online transactions
Categories: DeFi & Crypto & Web3
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DeFi & Crypto & Web3






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