Cryptocurrency and monetary theory

Currently, prospects for further development of cryptocurrencies present an interest for economists from all over the globe. At the same time, particular attention is paid  to the analysis of the cryptocurrencies’ impact on monetary theory. This issue was discussed on September 12 at the seminar organized by the Gaidar Institute together with the Russian Presidential Academy of National Economy and Public Administration (RANEPA).

Dmitry Marinichev, Presidential Commissioner for protection of the rights of entrepreneurs in the sphere of Internet (Internet Ombudsman), General Director of Radius Group Ltd., founder of Russian Mining Coin, delivered a presentation about the role of cryptocurrencies and technology of blockchain in modern economy. He focused on the future of cryptomoney and their role in the establishment of new forms of relationship between economic agents. 


Elena Sinelnikova–Muryleva, Senior Researcher, Center for Central Banking Studies, Institute for Applied Economic Studies, RANEPA, delivered a presentation for participants of the seminar. She analyzed economic meaning of cryptocurrencies, discussed with the participants the position of the Bank for International Settlements, International Monetary Fund, European Central Bank and other organizations with regard to cryptocurrencies as well as challenges faced by the monetary authorities with the emergence of cryptomoney.

Presentation of Elena Sinelnikova – Muryleva is available here