Everything and its opposite: Socio-economic implications of Blockchain technology: Case of monetary policy
Ben Dhaou, Soumaya and Rohman, Ibrahim, "Everything and its opposite: Socio-economic implications of Blockchain technology: Case of monetary policy" 11th International Conference on Theory and Practice of Electronic Governance (ICEGOV2018), Galway, 2018/04/04-06.
Document type:
Conference Publication
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Sub-type Conference paper Author Ben Dhaou, Soumaya
Rohman, IbrahimTitle Everything and its opposite: Socio-economic implications of Blockchain technology: Case of monetary policy Event Series International Conference on Theory and Practice of Electronic Governance (ICEGOV) Publication Date 2018-07 Place of Publication New York Publisher ACM Press Pages 631-639 Title of Event 11th International Conference on Theory and Practice of Electronic Governance (ICEGOV2018) Date of Event 2018/04/04-06 Place of Event Galway Language eng Abstract The Blockchain technology is a disruptive technology that is changing the societal environment at various levels particularly the financial systems creating a new cryto-economy. There is dominant optimistic and praising view of the potentialities of the decentralized public ledgers. However most of the changes and cutting-edge impact of Blockchain technology remains misunderstood or unknown. This paper aims to propose a more critical perspective of the Blockchain implications highlighting the limitations, the controversies and the drawbacks of public distributed ledgers. An illustration from the monetary system is presented to propose an example of socio-economic implication. By presenting a case regarding the central bank digital currency (CBDC) system, which is now being, introduced as a counter policy against the emergence of the private crypto-currency system. We elaborate what CBDC is trying to solve and yet at the same time what potential problems might arise from this system. We conclude that the introduction of the Blockchain technology should be valued and evaluated in a more thorough way. Keyword Cryptocurrency
Blockchain
Implications
Monetary system
Central bank
EconomyCopyright Holder ACM Press Copyright Year 2018 Copyright type All rights reserved ISBN 9781450354219 DOI 10.1145/3209415.3209502 -
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