research-article

Everything and its opposite: Socio-economic implications of Blockchain technology: Case of monetary policy

Authors:

Soumaya I. Ben Dhaou,

Ibrahim Kholilul RohmanAuthors Info & Claims

ICEGOV '18: Proceedings of the 11th International Conference on Theory and Practice of Electronic Governance

Pages 631 - 639

https://doi.org/10.1145/3209415.3209502

Published: 04 April 2018 Publication History

Abstract

The Blockchain technology is a disruptive technology that is changing the societal environment at various levels particularly the financial systems creating a new cryto-economy. There is dominant optimistic and praising view of the potentialities of the decentralized public ledgers. However most of the changes and cutting-edge impact of Blockchain technology remains misunderstood or unknown. This paper aims to propose a more critical perspective of the Blockchain implications highlighting the limitations, the controversies and the drawbacks of public distributed ledgers. An illustration from the monetary system is presented to propose an example of socio-economic implication. By presenting a case regarding the central bank digital currency (CBDC) system, which is now being, introduced as a counter policy against the emergence of the private crypto-currency system. We elaborate what CBDC is trying to solve and yet at the same time what potential problems might arise from this system. We conclude that the introduction of the Blockchain technology should be valued and evaluated in a more thorough way.

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Cited By

Albahsh RAl-Anaswah M(2024)Artificial intelligence applications in auditing processes in the banking sectorCorporate Ownership and Control10.22495/cocv21i3art321:3(35-46)Online publication date: 27-Jun-2024
https://doi.org/10.22495/cocv21i3art3
Reyskens JTakamatsu SWaizmann SZins AZhang KCrompvoets J(2023)The Expected Public Value of the European Union Central Bank Digital CurrencyProceedings of the 24th Annual International Conference on Digital Government Research10.1145/3598469.3598533(593-600)Online publication date: 11-Jul-2023
https://dl.acm.org/doi/10.1145/3598469.3598533
Ding SCui TWu XDu M(2022)Supply chain management based on volatility clustering: The effect of CBDC volatilityResearch in International Business and Finance10.1016/j.ribaf.2022.10169062(101690)Online publication date: Dec-2022
https://doi.org/10.1016/j.ribaf.2022.101690
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Index Terms

Everything and its opposite: Socio-economic implications of Blockchain technology: Case of monetary policy
1. Social and professional topics
  1. Computing / technology policy
    1. Government technology policy

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cover image ACM Other conferences

ICEGOV '18: Proceedings of the 11th International Conference on Theory and Practice of Electronic Governance

April 2018

739 pages

ISBN:9781450354219

DOI:10.1145/3209415

Editors:
Atreyi Kankanhalli
National University of Singapore
,
Adegboyega Ojo
National University of Ireland Galway
,
Delfina Soares
United Nations University (UNU-EGOV)

Copyright © 2018 ACM.

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Association for Computing Machinery

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Published: 04 April 2018

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ICEGOV '18

ICEGOV '18: 11th International Conference on Theory and Practice of Electronic Governance

April 4 - 6, 2018

Galway, Ireland

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ICEGOV '18 Paper Acceptance Rate 104 of 184 submissions, 57%;

Overall Acceptance Rate 350 of 865 submissions, 40%

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Cited By

Albahsh RAl-Anaswah M(2024)Artificial intelligence applications in auditing processes in the banking sectorCorporate Ownership and Control10.22495/cocv21i3art321:3(35-46)Online publication date: 27-Jun-2024
https://doi.org/10.22495/cocv21i3art3
Reyskens JTakamatsu SWaizmann SZins AZhang KCrompvoets J(2023)The Expected Public Value of the European Union Central Bank Digital CurrencyProceedings of the 24th Annual International Conference on Digital Government Research10.1145/3598469.3598533(593-600)Online publication date: 11-Jul-2023
https://dl.acm.org/doi/10.1145/3598469.3598533
Ding SCui TWu XDu M(2022)Supply chain management based on volatility clustering: The effect of CBDC volatilityResearch in International Business and Finance10.1016/j.ribaf.2022.10169062(101690)Online publication date: Dec-2022
https://doi.org/10.1016/j.ribaf.2022.101690
Silva EMira da Silva M(2022)Research contributions and challenges in DLT-based cryptocurrency regulation: a systematic mapping studyJournal of Banking and Financial Technology10.1007/s42786-021-00037-26:1(63-82)Online publication date: 11-Jan-2022
https://doi.org/10.1007/s42786-021-00037-2
Birim ŞSönmez FLiman Y(2022)Estimating Return Rate of Blockchain Financial Product by ANFIS-PSO MethodIntelligent and Fuzzy Systems10.1007/978-3-031-09173-5_92(802-809)Online publication date: 5-Jul-2022
https://doi.org/10.1007/978-3-031-09173-5_92
Dashkevich NCounsell SDestefanis G(2020)Blockchain Application for Central Banks: A Systematic Mapping StudyIEEE Access10.1109/ACCESS.2020.3012295(1-1)Online publication date: 2020
https://doi.org/10.1109/ACCESS.2020.3012295
Rodríguez-Pérez AValletbó-Montfort PCucurull J(2019)Bringing transparency and trust to electionsProceedings of the 12th International Conference on Theory and Practice of Electronic Governance10.1145/3326365.3326372(46-55)Online publication date: 3-Apr-2019
https://dl.acm.org/doi/10.1145/3326365.3326372

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