The State’s Attitude to Cryptocurrency as an Indicator of Its Trust in Society
https://doi.org/10.22394/1726-1139-2020-11-130-139
Abstract
It is proposed to justify the applicability of indicators of state confidence in civil society, that is, the state’s faith in the loyalty of society to it and in the ability to maintain its own legitimacy. The first indicator is the legalization of cryptocurrency, the second is the creation of a state cryptocurrency.
There is a direct connection between the degree of legalization of cryptocurrency and the level of state confidence in the loyalty of society to it. The creation of state national cryptocurrency is a signal of a drop in state confidence in its own legitimacy.
About the Authors
O. A. Antoncheva
Russian Presidential Academy of National Economy and Public Administration (North-West Institute of Management of RANEPA)
Russian Federation
Associate Professor the Chair of Social Technologies of North-West Institute of Management of RANEPA, PhD in Political Science
Russian Federation
Associate Professor the Chair of Social Technologies of North-West Institute of Management of RANEPA, PhD in Political Science
T. E. Apanasenko
Independent researcher
Russian Federation
Independent researcher, PhD in Political Science
Russian Federation
Independent researcher, PhD in Political Science
References
1. Babkin A.V., Burkaltseva D.D., Guk O.A., Tyulin A.S. Analysis of Development and Regulation of Crypto-currency: Foreign and Russian Experience // MIR (Modernisation. Innovation. Research) [MIR (Modernizazia. Innovazii. Razvitie]. 2017. N 8(4). P. 554–565. (In rus)
2. Babkin A. V., Burkal’tseva D. D., Pshenichnikov V. V., Tyulin A.S. Cryptocurrency and blockchain technology in the digital economy: the genesis of development // Scientic and Technical Statements of St. Petersburg State Polytechnic University. Economic sciences [Nauchnotekhnicheskiye vedomosti Sankt-Peterburgskogo gosudarstvennogo politekhnicheskogo universiteta. Ekonomicheskiye nauki]. 2017. N 10(5). P. 922. (In rus)
3. Berdyshev A. V. The future of the cryptocurrency market // University’s bulletin (State University of management) [Vestnik universiteta (Gosudarstvennyy universitet upravleniya)]. 2018. N 12. P. 119–123. (In rus)
4. Butenko E. D., Isakhaev N.R. Electronic money and cryptocurrencies: contradictions and traps // National Interests: Priority and Security [Natsional’nyye interesy: prioritety i bezopasnost]. 2018. N 14(6). P. 1092–1108. (In rus)
5. Genkin A.S., Mikheev A. A. Blockchain: how it works and what awaits us tomorrow. M. : «Alpina Pablisher», 2018. (In rus)
6. Godin V.V., Terekhova A.E. Blockchain: philosophy, technology, applications and risks // University’s bulletin (State University of management) [Vestnik universiteta (Gosudarstvennyy universitet upravleniya)]. 2019. № 9. P. 54–61. (In rus)
7. Grossman A. O., Petrov A. V. Cryptocurrencies as a social phenomenon // Society. Environment. Development. [Obshchestvo. Sreda. Razvitiye]. 2017. N 4. P. 62–66. (In rus)
8. Kochetkov A.V. Innovative properties, positive and negative effects of cryptocurrency turnover for the economy // Finance and Credit [Finansy i kredit]. 2018. N 24 (9). P. 2033–2041. (In rus)
9. Krylov G. O., Lisitsyn A. Y., Polyakov L. I. Comparative analysis of volatility of cryptocurrencies and fiat money // Finance: Theory and Practice [Finansy: teoriyaipraktika]. 2018. N 22 (2). P. 66–89. (In rus)
10. Mandell R. A. Euro and stability of the world monetary system / Bunkina M. K., Semenov A. M. Ruble in the currency space of Europe. M. : Olimp-Biznes, 2004. P. 217–267. (In rus)
11. Makhalina O. M., Makhalin V. N. Prospects for the creation of national and supranational cryptocurrencies in the BRICS countries // Management [Upravleniye]. 2019. N 2. P. 116–123. (In rus)
12. Tapskott D., Tapskott A. Blockchain Revolution. How the technology behind bitcoin is changing money, business, and the world. M. : Eksmo, 2017. (In rus)
13. Khvatov K. Y. Key concept and terminology of cryptocurrencies and their comparison with fiduciary currencies // ITportal. 2018. N 1 (17). URL: http: //itportal.ru /science /economy /klyuchevaya-kontseptsiya-i-terminol / (In rus)
14. Shchegoleva N. G., Malsagova R. G. Cryptocurrencies as a vector of digitalization of the world monetary system: risks and trends // State Management. [Gosudarstvennoye upravleniye. Elektronnyy FGU MGU]. 2019. N 74. P. 273–296. (In rus)
15. Friedman M., Schwartz A. J. Has Government Any Role in Money? // Journal of Monetary Economics. 1986. Vol. 17. Is. 1. P. 37–62.
16. Gaurav S. The Market for Cryptocurrencies. An Ode to F. A. Hayek // Economic and political weekly. Vol. 54. N 2. 12 Jan. 2019. P. 12–15.
17. Hayek F. A. Denationalization of Money: The Argument Refined. An Analysis of the Theory and Practice of Concurrent Currencies. Hobart Paper (Special) 70. London : Institute of Economic Affairs, 1978.
18. Hoppe H., Hülsmann J. G., Block W. Against Fiduciary Media // Quarterly Journal of Austrian Economics. 1998. Vol. 1. N 1. P. 19–50.
19. Polleit T. Hayek’s “Denationalization of Money” — a Praxeological Reassessment // Journal of Prices & Markets. November 17. 2016. P. 69–84.
20. Rogojanu A., Badea L. The issue of competing currencies. Case study — Bitcoin // Theoretical and Applied Economics. Vol. XXI (2014). N 1 (590). P. 103–114.
21. Selgin G. A. Central Banks as Sources of Financial Instability // Independent Review. 2010. Vol. 14. N 4. P. 485–496.
22. Selgin G. A. Free Banking and Monetary Control // Economic Journal. 1994. Vol. 104. N 427. P. 1449–1459.
23. Selgin G. A. Milton Friedman and the Case against Currency Monopoly // Cato Journal. 2008. Vol. 28. N 2. P. 287–301.
24. Selgin G. A., White L. H. In Defense of Fiduciary Media — or, We are Not Devo (lutionists), We are Misesians! // Review of Austrian Economics. 1996. Vol. 9. N 2. P. 83–107.
25. Tofall von N. F. Währungsverfassungsfragen sind Freiheitsfragen: Mit Kryptowährungen zu einermarktwirtschaftlichen Geldordnung? Köln: Flossbach von Storch Research Institute. 2018. (In German)
Review
For citations:
Antoncheva O.A., Apanasenko T.E. The State’s Attitude to Cryptocurrency as an Indicator of Its Trust in Society. Administrative Consulting. 2020;(11):130-139. (In Russ.) https://doi.org/10.22394/1726-1139-2020-11-130-139
Views:
1069
Email this article 