Alternative currencies are the future and matter for development

Lorenzo Fioramonti, University of Pretoria When I began to teach in 2012, I decided to start my course with an analysis of how money affects social order. What my students found particularly fascinating was the then-nascent world of cryptocurrencies, which I described at length as a crucial feature in the future of money. Some colleagues …

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Around the world, regulators are realising Bitcoin is money

Joel Emery, Australian National University and Miranda Stewart, Australian National University The tax treatment of digital currencies is a challenge for governments around the world, as it is for other aspects of the “disruptive” digital economy. In October 2014, the Commonwealth Senate Economics Committee launched an inquiry into digital currencies. The Committee released its report …

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Clearing up the mystique of central banking

Stan du Plessis, Stellenbosch University When the Bank of England’s former governor, Mervyn King, was relatively new at the British central bank, he asked the legendary Paul Volcker for advice on how to be a central banker. The former Federal Reserve Board chairman condensed his advice into a single word: mystique. That was in 1991. …

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Zimbabwe ditches its dollar, ending an economic era

Bernardo Batiz-Lazo, Bangor University Zimbabwe dollars will be decommissioned at a rate of 35 quadrillion per US dollar (that’s Z$35,000,000,000,000,000 for US$1). Any remaining Zimbabwe dollars in circulation after September 30 2015 will be officially, as opposed to practically, worthless. A currency is being ditched. Withdrawing all Zimbabwe dollar banknotes from circulation officially brings an …

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