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A framework for the development of a National Crypto-Currency

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...

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Main Authors: Abdullah, Adam, Mohd Nor, Rizal
Format: Article
Language:English
Published: Canadian Center of Science and Education 2018
Subjects:
HG201 Money
HG3368 Islamic Banking and Finance
Online Access:http://irep.iium.edu.my/64842/1/64842-a%20framework%20for%20the%20development.pdf
http://irep.iium.edu.my/64842/
http://ccsenet.org/journal/index.php/ijef/index
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spelling my.iium.irep.648422018-08-27T08:59:00Z http://irep.iium.edu.my/64842/ A framework for the development of a National Crypto-Currency Abdullah, Adam Mohd Nor, Rizal HG201 Money HG3368 Islamic Banking and Finance 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. Canadian Center of Science and Education 2018-09-01 Article PeerReviewed application/pdf en http://irep.iium.edu.my/64842/1/64842-a%20framework%20for%20the%20development.pdf 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 http://ccsenet.org/journal/index.php/ijef/index
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
topic HG201 Money
HG3368 Islamic Banking and Finance
spellingShingle HG201 Money
HG3368 Islamic Banking and Finance
Abdullah, Adam
Mohd Nor, Rizal
A framework for the development of a National Crypto-Currency
description 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.
format Article
author Abdullah, Adam
Mohd Nor, Rizal
author_facet Abdullah, Adam
Mohd Nor, Rizal
author_sort Abdullah, Adam
title A framework for the development of a National Crypto-Currency
title_short A framework for the development of a National Crypto-Currency
title_full A framework for the development of a National Crypto-Currency
title_fullStr A framework for the development of a National Crypto-Currency
title_full_unstemmed A framework for the development of a National Crypto-Currency
title_sort framework for the development of a national crypto-currency
publisher Canadian Center of Science and Education
publishDate 2018
url http://irep.iium.edu.my/64842/1/64842-a%20framework%20for%20the%20development.pdf
http://irep.iium.edu.my/64842/
http://ccsenet.org/journal/index.php/ijef/index
_version_ 1643617479028637696
score 13.211869

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