Matilde Massó, A. Shevchenko, Nazaret Abalde-Bastero
{"title":"Technological and socio- institutional dimensions of cryptocurrencies. An incremental or disruptive innovation?","authors":"Matilde Massó, A. Shevchenko, Nazaret Abalde-Bastero","doi":"10.1080/03906701.2021.2015981","DOIUrl":null,"url":null,"abstract":"ABSTRACT Despite the increase in literature on financial innovation as a force of change in the financial system, most contributions fail to analyze the relationship between the socio-institutional and technological design of cryptocurrencies. This paper aims to fill this gap by providing a case study of Bitcoin, the most representative of the virtual and cryptocurrencies. We begin by addressing the concept of financial innovation as a social phenomenon embedded in networks of users, technologists, regulations, institutions, culture and history. Secondly, we examine the disruptive and evolutionary nature of the Bitcoin, comparing it with the characteristics of legal tender money. The main conclusions indicate that although Bitcoin represents a disruptive technology in the process of monetary creation through a peer-to-peer network, it is not a new conception of money in its institutional dimension.","PeriodicalId":46079,"journal":{"name":"International Review of Sociology-Revue Internationale de Sociologie","volume":null,"pages":null},"PeriodicalIF":1.0000,"publicationDate":"2021-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Review of Sociology-Revue Internationale de Sociologie","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/03906701.2021.2015981","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"SOCIOLOGY","Score":null,"Total":0}
引用次数: 1
Abstract
ABSTRACT Despite the increase in literature on financial innovation as a force of change in the financial system, most contributions fail to analyze the relationship between the socio-institutional and technological design of cryptocurrencies. This paper aims to fill this gap by providing a case study of Bitcoin, the most representative of the virtual and cryptocurrencies. We begin by addressing the concept of financial innovation as a social phenomenon embedded in networks of users, technologists, regulations, institutions, culture and history. Secondly, we examine the disruptive and evolutionary nature of the Bitcoin, comparing it with the characteristics of legal tender money. The main conclusions indicate that although Bitcoin represents a disruptive technology in the process of monetary creation through a peer-to-peer network, it is not a new conception of money in its institutional dimension.
期刊介绍：
International Review of Sociology is the oldest journal in the field of sociology, founded in 1893 by Ren Worms. Now the property of Rome University, its direction has been entrusted to the Faculty of Statistics. This choice is a deliberate one and falls into line with the traditional orientation of the journal as well as of the Institut International de Sociologie. The latter was the world"s first international academic organisation of sociology which started as an association of contributors to International Review of Sociology. Entrusting the journal to the Faculty of Statistics reinforces the view that sociology is not conceived apart from economics, history, demography, anthropology and social psychology.
京公网安备 11010802042870号
京ICP备2023020795号-1
分享
求助内容：
应助结果提醒方式：
扫码关注我们
