Blockchain as a determinant of bitcoin value

The article discusses the determinants of the bitcoin (BTC) price value, with particular emphasis on blockchain technology. The method of critical analysis of the literature on the subject was applied, and the state of knowledge in this field was established by juxtaposing different views of researchers on the BTC price value. It has been proven that BTC, being unquestionably a financial innovation, has been subjected to a free valuation of its price in the markets. While observing the development of BTC quotations, potential causes of numerous fluctuations in its market valuation were searched for. The article shows that the expectations related to the use of BTC are relatively highly valued by investors in modern financial markets. A more efficient currency, competition between currencies or the provision of new technological solutions may bring benefits to markets and economies, which, discounted at the present time, generate a certain value. Therefore, the paper shows that the BTC value creation mechanism is therefore different from that of fiat currencies. It has also been confirmed that the promotion of one of the most popular distributed data registers, which is blockchain, is of great value for BTC. BTC has led to the development of blockchain technology that is used in various segments of the economy. Basing BTC's operation on a public data register is the strength of the entire BTC network, but it also brings many risks and uncertainties. Further, research should focus on searching for the economic effects that result from the development of blockchain technology in modern economies.

World Digital CurrencyandTobacco Regulatory Science New Paradigm

Objectives: Based on the times analysis, we proposethe world digital currency, proposesthe world digital currency tentative plan. The so-called world digital currency is may distribute one kind of world digital currency, or as its initial digital nationality currency, as well as its initial other form like company or personal digital currency. Then has analyzed the digital currency competition, pointed out the digital currency the competition, is take the national digital currency strategy competition as the foundation, must formulate the good national digital currency strategy, at last we put forward thenew tobacco regulatory science paradigm.

The Effects of Currency Protectionism on the Exports of the Trade Partners - A Composite Index

The competitive exchange rate devaluation (or currency protectionism) is a phenomenon of global political economy, which goes hand in hand with trade activities. The causes, consequences and effects of monetary protectionism for the concerned countries have been thoroughly analyzed on the basis of existing literature. An important element of analysis is the different effects of the implementation of protectionist policy measures on trading partners. An example of currency protectionism nowadays is the currency competition between the US and China. Although the US is the "hegemon" of the modern international economic-political system, China's continuous, upward and rapid economic course has weakened the primacy of the US, with consequences that are perceived in the global economic system. Of course, China has been accused of practices of economic "mercantilism." On the basis of these mercantilist accusations, a kind of war broke out with the US. But the main question is this: how are the exports of trading partners affected by this currency competition? To be able to answer this question more fully, a quantitative tool should be created that can interpret the effects of currency competition on trading partners. This study will try answering this question by using the case study of U.S. - China currency competition. The methodology applied is the creation of a Composite Index.

Where leads the line of the dollar’ fate

The lessons of interaction of commodity money (gold) and credit money (pound sterling and dollar) are considered using the case of Peel’s Act of 1844 in Great Britain and the case of Bretton Woods monetary system. The ideas of “Triffin’s dilemma”, and its significance are discussed, as well, as its negative influence on the people’s understanding of the monetary system construction. The erroneous of common world currency is discovered. The trend of national currency ascent to the status of world currency is determined as a typical way of currency development and currency competition.

Introduction

This chapter lays out the conceptual framework needed to grasp the challenges facing exchange bankers in late nineteenth-century Asia. It borrows from the transaction cost literature underlying the study of the structure of the international monetary system; and it subscribes to the notion that such structure is the product of international currency competition. In the historical literature, applications of these insights are surprisingly scarce. Yet it is demonstrated that, by (1) settling on the existence of a distinction between ‘center’ and ‘periphery’ and (2) the existence of ‘network effects’, the transaction cost approach may explain the persistence of monetary arrangements in the long run. Remarkably, seemingly ‘retreating’ currencies retain a degree of superiority that would not be warranted in case network effects were absent; vice versa, non-liquid currencies have only a very small chance at climbing the ladder of currency prestige—they are structurally disadvantaged. It is argued that the distinction between center and periphery is real, not just analytical, and has had tangible implications for monetary and financial policy makers in the fields of sovereign debt and trade finance.

The Problem in Detail

This chapter sets the stage for the empirical investigation of the domestic political economic sources of international conflicts and cooperation. It consists of four parts. First, it gives a general brief historical overview over the problems of the international regulation of finance since nineteenth-century imperialism until the global financial crisis that started in 2008. Second, it introduces the G20 as the main forum for global economic cooperation. Third, it offers an overview of the different reactions to the global economic crisis since 2008. Fourth, it introduces the major conflicts in the G20 about the international regulation of finance in the three crucial areas identified in Chapter 1: global imbalances and macroeconomic coordination, financial globalization and financial regulation, as well as currency competition and management.