Cryptocurrencies, a controversial innovation? Unpacking argumentation analysis in economic geography

Abstract

In this paper, we analyze the global controversy surrounding the innovation of cryptocurrencies, developing an analytical framework to assess the empirical structure of arguments. By unpacking an argumentation analysis of a comprehensive set of scholarly, media, and industry publications, we identify six key dimensions of disagreement, comprising 42 distinct arguments. These dimensions include the raison d’être, environmental impact, social inclusion, susceptibility to illegal activities, economic impact, and potential for decentralization and democratization. Our findings reveal entrenched positions supported by robust scholarly research and empirical evidence. Cryptocurrencies represent a controversial innovation, for which global resolution remains elusive. While the controversy may appear unbounded, we plead for a geographical approach, emphasizing that localized institutional contexts are crucial for exploring potential trajectories of the controversy. Finally, our analysis illustrates the potential of argumentation analysis to properly disentangle complex societal disagreements, and it therefore promises to enrich the methodological pluralism in economic geography.