Blockchain Technology & the Emerging Conflicts in National & International Monetary Systems

Document Type : Original Article

Authors

1 Faculty of Law and Political Science Assistant professor

2 faculty of law and political science, department of International Relations

Abstract

In recent years, new tools have been developed to control the economies of other countries around the world. One of these tools is cryptocurrencies based on China Blockchain technology, which provides new tools for countries and some multinational corporations that allow them to control, manipulate and influence widely other economies around the world. With their peer-to-peer operating structure, these currencies have pushed the central banks away, which have always been the intermediaries of national and international transactions in the traditional economy. This lack of sovereignty and government oversight of digital currency transactions and the lack of adequate backing such as gold and silver have raised doubts about cryptocurrencies. Therefore, the main question of the present article is "Why has the extent and manner of using blockchain technology become one of the main areas of conflict between government actors (with each other and also with non-government actors) in national and international monetary systems?"
To answer this question, it should be said that the reason for the extent and manner of using blockchain technology to become one of the main areas of conflict between government actors with each other and also with non-government actors in national and international monetary systems is weakening. There is a strong possibility of monetary and fiscal policies by national governments if the use of payment systems based on blockchain technology is expanded.

Keywords

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