THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES
This report attempts to look into the future of the global monetary system. The history and development of fiat currencies is reviewed, their strengths and weaknesses are presented, causing market stability or instability and recession, respectively. Attention is paid to the global processes affec...
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| Format: | Article |
| Language: | English |
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Trakia University
2023-12-01
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| Series: | Trakia Journal of Sciences |
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| Online Access: | http://tru.uni-sz.bg/tsj/Volume%2021,%202023,%20Supplement%201,%20Series%20Social%20Sciences/2%20%D1%81%D0%B5%D0%BA%D1%86%D0%B8%D1%8F/%D0%B3%D0%BE%D1%82%D0%BE%D0%B2%D0%B8/18-S.Kaloyanov2.docx.pdf |
| _version_ | 1797354084098899968 |
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| author | S. Kolyandov |
| author_facet | S. Kolyandov |
| author_sort | S. Kolyandov |
| collection | DOAJ |
| description | This report attempts to look into the future of the global monetary system. The history and development
of fiat currencies is reviewed, their strengths and weaknesses are presented, causing market stability or
instability and recession, respectively. Attention is paid to the global processes affecting the traditional
money markets and the accumulated experience of the institutions to deal with the crises. The increasing
digitization in the industry, the economy and the daily life of every single person inevitably gives rise
to the need for the use of digital currency to guarantee transactions between individual parties. The idea
for these still unrealized needs was born nearly 40 years ago, and the first realization took place in 1996,
when e-gold was born. Today, we have hundreds of cryptocurrencies that still operate in an unregulated
market, and their legal status still varies from country to country. The desire of individual countries and
banking institutions to start their legally regulated use by already developing and testing their own
currencies is presented. |
| first_indexed | 2024-03-08T13:40:10Z |
| format | Article |
| id | doaj.art-53352400d7ea4fd09ef2a2df0306dcce |
| institution | Directory Open Access Journal |
| issn | 1313-3551 |
| language | English |
| last_indexed | 2024-03-08T13:40:10Z |
| publishDate | 2023-12-01 |
| publisher | Trakia University |
| record_format | Article |
| series | Trakia Journal of Sciences |
| spelling | doaj.art-53352400d7ea4fd09ef2a2df0306dcce2024-01-16T10:22:17ZengTrakia UniversityTrakia Journal of Sciences1313-35512023-12-0121Suppl.110610910.15547/tjs.2023.s.01.018THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIESS. KolyandovThis report attempts to look into the future of the global monetary system. The history and development of fiat currencies is reviewed, their strengths and weaknesses are presented, causing market stability or instability and recession, respectively. Attention is paid to the global processes affecting the traditional money markets and the accumulated experience of the institutions to deal with the crises. The increasing digitization in the industry, the economy and the daily life of every single person inevitably gives rise to the need for the use of digital currency to guarantee transactions between individual parties. The idea for these still unrealized needs was born nearly 40 years ago, and the first realization took place in 1996, when e-gold was born. Today, we have hundreds of cryptocurrencies that still operate in an unregulated market, and their legal status still varies from country to country. The desire of individual countries and banking institutions to start their legally regulated use by already developing and testing their own currencies is presented.http://tru.uni-sz.bg/tsj/Volume%2021,%202023,%20Supplement%201,%20Series%20Social%20Sciences/2%20%D1%81%D0%B5%D0%BA%D1%86%D0%B8%D1%8F/%D0%B3%D0%BE%D1%82%D0%BE%D0%B2%D0%B8/18-S.Kaloyanov2.docx.pdfmoneycryptocurrenciesmoney market developmentoverlapping crises |
| spellingShingle | S. Kolyandov THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES Trakia Journal of Sciences money cryptocurrencies money market development overlapping crises |
| title | THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES |
| title_full | THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES |
| title_fullStr | THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES |
| title_full_unstemmed | THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES |
| title_short | THE FUTURE: FIAT CURRENCIES OR CRYPTOCURRENCIES |
| title_sort | future fiat currencies or cryptocurrencies |
| topic | money cryptocurrencies money market development overlapping crises |
| url | http://tru.uni-sz.bg/tsj/Volume%2021,%202023,%20Supplement%201,%20Series%20Social%20Sciences/2%20%D1%81%D0%B5%D0%BA%D1%86%D0%B8%D1%8F/%D0%B3%D0%BE%D1%82%D0%BE%D0%B2%D0%B8/18-S.Kaloyanov2.docx.pdf |
| work_keys_str_mv | AT skolyandov thefuturefiatcurrenciesorcryptocurrencies AT skolyandov futurefiatcurrenciesorcryptocurrencies |