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A framework for the development of a National Crypto-Currency

Abdullah, Adam and Mohd Nor, Rizal (2018) A framework for the development of a National Crypto-Currency. International Journal of Economics and Finance, 10 (9). pp. 14-25. ISSN 1916-971X

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Abstract

This paper seeks to provide a conceptual framework as to whether a central bank or a monetary authority should issue a crypto-currency given available technology and what are the consequences of doing so. Under the fiat standard the value and purchasing power of money has experienced an exponential decay, whilst prices have increased exponentially. Typically, a central bank is responsible for monetary and financial stability, including settlement and payment mechanisms. A proposed methodology is provided that involves both quantitative and qualitative analysis to measure the comparative monetary performance, stress testing and impact assessment of a new crypto-currency that includes backing by gold, silver and a basket of commodities. The scope of the proposed framework involves a monetary economic analysis, supported by a technological investigation, under the framework of Shari’ah compliance, to explore an impact assessment of the adoption of a national crypto-currency. The significance of this study is that, it provides a framework for the development of a new national crypto-currency, which retains its’ store of value in terms of monetary performance and price stability, that would also investigate whether it’s implementation is viable.

Item Type: Article (Journal)
Additional Information: 7452/64842
Subjects: H Social Sciences > HG Finance > HG201 Money
H Social Sciences > HG Finance > HG201 Money

H Social Sciences > HG Finance > HG3368 Islamic Banking and Finance
Kulliyyahs/Centres/Divisions/Institutes: Institute of Islamic Banking & Finance (IIiBF)
Kulliyyah of Information and Communication Technology
Kulliyyah of Information and Communication Technology
Depositing User: Dr Adam Abdullah
Date Deposited: 17 Jul 2018 09:14
Last Modified: 27 Aug 2018 16:59
URI: http://irep.iium.edu.my/id/eprint/64842

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