CFDP 1947

Simecs, Ithaca Hours, Berkshares, Bitcoins and Walmarts

Author(s): 

Publication Date: May 2014

Pages: 13

Abstract: 

The practical and theoretical meaning of the rise and fall of new local and virtual currencies suggest that two basic theories of money both have their validity and reasons for coexistence. The drive for increasing efficiency in the payment mechanisms is in full swing and still presents many opportunities for improvement.

Keywords: 

Money, Fiat, Virtual currencies

JEL Classification Codes:  E41, E42, D23