What are the barriers to the acceptance of cryptocurrencies in the German economy?

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Initial Situation
• Objective & Research Approach
• Theoretical & Practical Relevance
• Methodology & Structure
• History of Money
• The types & functions of Money
• Medium of Exchange
• Unit of Account
• Store of Value
• Cryptocurrency: A paradigm shift
• Types of Cryptocurrencies
• Type 1: Closed Virtual Currency Schemes
• Type 2: Virtual Currency Schemes With Unidirectional Flow
• Type 3: Virtual Currency Schemes With Bidirectional Flow
• Monetary policy's cryptocurrency challenge
• The impact on the European Monetary System & Money Supply
• Monetary Aggregate
• Fractional Reserve Banking
• Distributed ledger money and Austrian policy objectives
• Empirical Part
• Monetary Theory and Potential Use Cases of Cryptocurrencies
• Central Bank Issued Digital Currency (CBDC)
• Private Cryptocurrencies as an Alternative Currency
• Research Design and Process
• Theory Models of Adopting Cryptocurrencies
• Research Quality
• Research Method and Data Collection
• Selection of Interviewees
• Questionnaire format
• Evaluation Methods
• Evaluation of the Findings
• Function of Money
• Intrinsic aspects of cryptocurrencies
• External forces
• Future Outlook
• Conclusion
• Discussion
• Critical Reflection

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This research paper aims to identify the barriers to the acceptance of cryptocurrencies in the German economy. It investigates the potential of cryptocurrencies as an alternative financial asset class and analyzes their impact on the existing monetary system. The research utilizes an active approach, combining literature review, case studies, and expert interviews to understand the macroeconomic and social challenges posed by cryptocurrencies. Key themes explored in the paper include:

• The history and evolution of money, including the types and functions of money
• The impact of cryptocurrencies on monetary policy and the European Monetary System
• The intrinsic aspects of private cryptocurrencies and their potential benefits and drawbacks
• The external forces influencing the adoption of cryptocurrencies, such as government regulations and public perception
• The role of a central bank digital currency (CBDC) in the future of finance.

Zusammenfassung der Kapitel (Chapter Summaries)

• Introduction: This chapter introduces the research topic, outlining the initial situation, objectives, research approach, theoretical and practical relevance, and methodology of the study. It also briefly explains the structure of the paper.
• History of Money: This chapter explores the evolution of money, discussing different types and functions of money, including medium of exchange, unit of account, and store of value. It also examines the emergence of cryptocurrencies and their potential to revolutionize the financial system.
• Monetary policy's cryptocurrency challenge: This chapter investigates the impact of cryptocurrencies on monetary policy and the European Monetary System. It analyzes the potential consequences of a decentralized financial system on monetary aggregates, fractional reserve banking, and the Austrian economic principles that underlie cryptocurrencies.
• Empirical Part: This chapter presents the empirical findings of the research. It explores the theoretical models of cryptocurrency adoption, discusses the research design and process, and details the data collection methods used, including interviews and questionnaires. It also examines the evaluation methods employed to analyze the findings.

Schlüsselwörter (Keywords)

The main focus of this research paper is on the acceptance of cryptocurrencies in the German economy. Key keywords and topics include: cryptocurrencies, Bitcoin, monetary policy, European Monetary System, Austrian economic principles, central bank digital currency (CBDC), adoption of new technologies, government regulations, public perception, and financial risk.