Philosophy, politics, and economics of cryptocurrency I: Money without state

Bailey, Andrew M.; Rettler, Bradley; Warmke, Craig

doi:10.1111/phc3.12785

Cited by 6 publications

(4 citation statements)

References 65 publications

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“…With the advent of cryptocurrencies over the last decade, scholars have begun to shift more research attention to examining which attributes and behaviors are most strongly associated with buying and trading crypto [ 15 , 16 ]. As cryptocurrencies are non-centralized and free from government intervention [ 17 ], it is perhaps unsurprising that people who invest or trade in cryptocurrencies prefer privacy in their financial transactions due to concerns over government monitoring [ 18 ]. Indeed, the motivation behind the development of cryptocurrency was rooted in a strong distrust for mainstream, traditional currencies and financial institutions [ 19 ].…”

Section: Hypothesesmentioning

confidence: 99%

The political, psychological, and social correlates of cryptocurrency ownership

Littrell,

Klofstad,

Uscinski

2024

PLoS ONE

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Cryptocurrency is a digital asset secured by cryptography that has become a popular medium of exchange and investment known for its anonymous transactions, unregulated markets, and volatile prices. Given the popular subculture of traders it has created, and its implications for financial markets and monetary policy, scholars have recently begun to examine the political, psychological, and social characteristics of cryptocurrency investors. A review of the existing literature suggests that cryptocurrency owners may possess higher-than-average levels of nonnormative psychological traits and exhibit a range of non-mainstream political identities. However, this extant literature typically employs small nonrepresentative samples of respondents and examines only a small number of independent variables in each given study. This presents the opportunity for both further testing of previous findings as well as broader exploratory analyses including more expansive descriptive investigations of cryptocurrency owners. To that end, we polled 2,001 American adults in 2022 to examine the associations between cryptocurrency ownership and individual level political, psychological, and social characteristics. Analyses revealed that 30% of our sample have owned some form of cryptocurrency and that these individuals exhibit a diversity of political allegiances and identities. We also found that crypto ownership was associated with belief in conspiracy theories, “dark” personality characteristics (e.g., the “Dark Tetrad” of narcissism, Machiavellianism, psychopathy, and sadism), and more frequent use of alternative and fringe social media platforms. When examining a more comprehensive multivariate model, the variables that most strongly predict cryptocurrency ownership are being male, relying on alternative/fringe social media as one’s primary news source, argumentativeness, and an aversion to authoritarianism. These findings highlight numerous avenues for future research into the people who buy and trade cryptocurrencies and speak to broader global trends in anti-establishment attitudes and nonnormative behaviors.

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Section: Hypothesesmentioning

confidence: 99%

The political, psychological, and social correlates of cryptocurrency ownership

Littrell,

Klofstad,

Uscinski

2024

PLoS ONE

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“…This review analyses the article by Bailey, Rettler, and Warmke (2021), which explores the philosophical, political, and economic aspects of cryptocurrencies, focusing on a monetary system that exists outside the influence of the state. The authors examine the relationship between cryptocurrencies and politics, philosophy, and economics, investigating their implications and the possibility of understanding the cryptocurrency system without reference to state control.…”

Section: Literature Review/theoretical Overviewmentioning

confidence: 99%

Philosophical views on the procedure for regulating the norms of Blockchain technologies in the context of future prospects for the development of the meta-universe

2022

Futurity Philosophy

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This article explores the Blockchain technology role in the creation and functioning of the meta-universe. This concept reflects a new approach to data exchange and transaction execution that combines decentralisation, security, and immutability through Blockchain technology and smart contracts. The article analyses the theoretical basis for the functioning of the metaverse, including its philosophical foundations and moral and ethical aspects. Various organisational forms and features of the metaverse infrastructure are considered, as well as its interaction with Blockchain technology. The study is based on a comprehensive analysis of scientific literature, legislative and regulatory acts, as well as the use of specific tools, including data visualisation and analysis methods. The findings emphasise the importance of Blockchain technology in creating the metaverse and its various applications. They demonstrate the metaverse potential in ensuring decentralisation, security, transparency, and speed of data exchange and transaction execution. The research is of great theoretical importance as it expands our understanding of the meta-universe and the role of Blockchain technology in its functioning. The practical significance lies in the fact that the conclusions and recommendations of the study can be used to develop the development of new approaches to data exchange and transaction execution. The significance of the findings is that the meta-universe can become the basis for the development of new approaches to data exchange and transaction execution, ensuring greater transparency, efficiency, and reliability of processes. This could have a significant impact on politics, economy, and society as a whole. The use of the metaverse can foster innovative solutions, improve trust between parties, and reduce losses in the data exchange process. Thus, this article emphasises the importance of studying and applying the metaverse concept in the field of data exchange and contractual fulfilment. The results of the study confirm the potential of the metaverse as a tool for creating decentralised, secure, and efficient data exchange systems. Further research in this area can contribute to the development of new technologies and paradigms in the field of data exchange, which is of great importance for the development of society and its transformation into a more transparent, efficient, and fair system.

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“…These names reflect the significance of cryptocurrencies, though blockchains do much more than enable peer-to-peer currency transactions. Cryptocurrencies like Bitcoin and Ethereum are applications utilizing blockchain technology to create decentralized digital currencies and payment systems (Bailey et al, 2021; Narayanan et al, 2016). Cryptocurrencies enable fast and borderless donations that circumvent financial institutions, making them well-suited for crisis relief (Chen & Murtazashvili, 2023).…”

Section: Introductionmentioning

confidence: 99%

Is cryptoaltruism transforming the nonprofit sector? Lessons from the Ukrainian nonprofits during the Russia-Ukraine War

Chen,

Murtazashvili

2024

Chinese Public Administration Review

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Cryptoaltruism refers to the ways in which distributed ledger technologies, especially blockchains, are changing the nature of the nonprofit sector. This study specifically investigates how the blockchain technology has been used by Ukrainian nonprofits during the current Russia-Ukraine War. To link this to the more general literature on blockchains, we consider whether blockchains are used primarily as a general-purpose technology or as an institutional technology which redefines how nonprofits coordinate activities. Our analysis of Ukrainian nonprofits provides evidence supporting both perspectives. Widespread acceptance of cryptocurrency suggests blockchains are an efficiency-enhancing new technology. We also show that novel applications on nonfungible tokens to preserve art and culture and to raise funds, as well as uses of blockchains to address challenges with trust, lend support to the idea of blockchains as an innovative institutional technology that is transforming the nature of the nonprofit sector. This study intends to motivate further development of the emergent agenda on cryptoaltruism and its role in the nonprofit sector.

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Philosophy, politics, and economics of cryptocurrency I: Money without state

Cited by 6 publications

References 65 publications

The political, psychological, and social correlates of cryptocurrency ownership

The political, psychological, and social correlates of cryptocurrency ownership

Philosophical views on the procedure for regulating the norms of Blockchain technologies in the context of future prospects for the development of the meta-universe

Is cryptoaltruism transforming the nonprofit sector? Lessons from the Ukrainian nonprofits during the Russia-Ukraine War

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