Cryptocurrencies: Increased Anthropogenic Impact
The emergence of cryptocurrencies is a response of technological development to the loss of trust in fiat money and the global banking settlement system. The aim of this study is to review existing ideas about the essence and anthropogenic impact of cryptocurrencies and determine the feasibility o...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Financial University
2025-01-01
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| Series: | Review of Business and Economics Studies |
| Subjects: | |
| Online Access: | https://rbes.fa.ru/jour/article/view/662/264 |
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| Summary: | The emergence of cryptocurrencies is a response of technological development to the loss of trust in fiat
money and the global banking settlement system. The aim of this study is to review existing ideas about
the essence and anthropogenic impact of cryptocurrencies and determine the feasibility of their further use.
Methods of contextual selection, system analysis, and general scientific methods were employed. The results
show that the politico-economic contradiction of cryptocurrencies is their unreliability to preserve value
concurrently with the high value of their production and use. Cryptocurrencies, having not yet become a mass
phenomenon, already have a significant impact on nature, and their mass use conflicts with the transition to
a green economy. The key conclusion is that increased use of cryptocurrencies will lead to an exponential rise
in the use of limited resources. The production and use of cryptocurrencies as goods are associated with both
obvious costs and significant negative external effects. Most importantly, governments view cryptocurrency
as a threat to public finances rather than an environmental one. A possible solution to these contradictions
may be the synthesis of centralized and decentralized currencies |
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| ISSN: | 2308-944X 2311-0279 |