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/ http://irep.iium.edu.my/64842/ http://irep.iium.edu.my/64842/1/64842-a%20framework%20for%20the%20development.pdf

id	iium-64842
recordtype	eprints
spelling	iium-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 E-ISSN 1916-9728 http://ccsenet.org/journal/index.php/ijef/index
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
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/ http://irep.iium.edu.my/64842/ http://irep.iium.edu.my/64842/1/64842-a%20framework%20for%20the%20development.pdf
first_indexed	2023-09-18T21:32:02Z
last_indexed	2023-09-18T21:32:02Z
_version_	1777412575008391168

A framework for the development of a National Crypto-Currency

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