Philosophy, politics, and economics of cryptocurrency II: The moral landscape of monetary design

Abstract

Abstract In this article, we identify three key design dimensions along which cryptocurrencies differ – privacy, censorship‐resistance, and consensus procedure. Each raises important normative issues. Our discussion uncovers new ways to approach the question of whether Bitcoin or other cryptocurrencies should be used as money, and new avenues for developing a positive answer to that question. A guiding theme is that progress here requires a mixed approach that integrates philosophical tools with the purely technical results of disciplines like computer science and economics.