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There is broad agreement that such money must be digital to compete in the modern payments system, but there is otherwise no consensus on what other properties are desirable. Hull and Sattath (2021) examine the set of all properties a digital currency can embody, focusing on hard and soft tradeoffs that are inherent in design choices.
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1 The Essential Properties of Money. 1.1 INTRODUCTION: THE STATE THEORY OF MONEY REFUTED. Everyone knows that indirect exchange is more productive than barter see, for example, Clower (1967), Niehans (1978) and Ostroy (1973).
the properties of all physical and digital forms of money. It reviews both the economics and computer science literatures and categorizes properties within an expanded version of the original functions-and-properties framework of money that includes societal and regulatory objectives.
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26 cze 2023 · This review makes the first exhaustive attempt to identify and organize all properties of physical and digital forms of money. It examines both the economics and computer science literatures and categorizes properties within an expanded version of the canonical Jevons–Menger framework.
