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Can cryptocurrencies be money?
According to Cachanosky, Bitcoin was not born with the intention of being money, but a payment technology without the need of intermediaries. In electronic transactions, the difficulty lies in guaranteeing that the same money will not be used multiple times. Financial intermediaries build trust in the system of electronic payments and ensure that there is no duplicate use of money. This service has a transaction cost (commissions). The contribution of Bitcoin is to achieve this trust without the need to resort to intermediaries (reducing transaction costs).
According to Cachanosky, despite the blockchain´s intention to be a new payment technology, the question and expectation of whether Bitcoin or some other cryptocurrency can become money persists. Especially when price peaks occur.
Ph.D. in Economics from Suffolk University, Master in Economics and Political Sciences from ESEADE and Bachelor in Economics from UCA. He is Associate Professor of Economics at the Metropolitan State University of Denver (MSU Denver). He is Senior Fellow of the American Institute for Economic Research (AIER) in the Sound Money Project. He is author of Monetary Equilibrium and Nominal Income Targeting (2018, Routledge) and co-author together with Peter Lewin of Austrian Capital Theory: A Survey of the Essentials (2019, Cambridge University Press) and Capital and Finance: Theory and History (2020, Routledge). His academic papers have been published in journals such as the Journal of the History of Economic Thought, Review of Financial Economics, Quarterly Review of Economics and Finance, Journal of Institutional Economics, Public Choice, Journal of Economic Behavior and Organization, Southern Economic Journal, and The Review of Austrian Economics, among others. He is currently President of the Association of Private Enterprise Education, serves on the Board of Directors of the Mont Pelerin Society and is member of the Academic Committee of the Acton Institute Argentina. He is editor of the Journal LIBERTAS: Segunda Época (Second Period) and is member of the editorial board of The Review of Austrian Economics and The Economists' Voice. He publishes columns in various Argentine media, such as La Nación, Infobae, El Cronista, Perfil and Ambito.
December 9, 6p.m.
Libre, no arancelada, previa inscripción
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