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LIBRA: THE NEW WORLD CURRENCY?

The replacement of the primitive materials used as currency in ancient times by metals is considered the first innovation in money. The replacement of precious metals such as gold and silver, which has been used for hundreds of years, by paper money is considered the second innovation in money. Duri...

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Published in:Journal of International Social Research / Uluslararası Sosyal Araştırmalar Dergisi Vol. 12; no. 65; pp. 1052 - 1059
Main Author: GÜLLER, Arif
Format: Article
Published: Journal of International Social Research Aug2019
Subjects:
Cryptocurrencies
Precious metals
Paper money
Blockchains
Bitcoin
Online Access:View this record in EBSCOhost
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      dt: Aug2019
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      pub: Journal of International Social Research
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        139445598
        10.17719/jisr.2019.3515
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      tig:
        atl: LIBRA: THE NEW WORLD CURRENCY?
      aug:
        au: GÜLLER, Arif
        affil: Dr., Siirt Üniversitesi, İİBF, İktisat Bölümü
      su:
        Cryptocurrencies
        Precious metals
        Paper money
        Blockchains
        Bitcoin
      sug:
        subj:
          Cryptocurrencies
          Precious metals
          Paper money
          Blockchains
          Bitcoin
      keyword:
        Libra
        world currency
      ab: The replacement of the primitive materials used as currency in ancient times by metals is considered the first innovation in money. The replacement of precious metals such as gold and silver, which has been used for hundreds of years, by paper money is considered the second innovation in money. During this period gold was used as a world currency. After these developments, there was no innovation in money for a long time until the Bitcoin and blockchain technology appeared. Innovation activities in money have gained a new dimension with blockchain technology. The Libra Association's project to create a global currency using blockchain technology has caused controversy. Sovereign states do not favor the implement of a world currency without their control. In this study the idea of a world currency, reactions of the sovereign states and impacts of the new world currency has been researched.
      pubtype: Academic Journal
      doctype: Article
      src: R
    language: English
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      custom: Copyright of Journal of International Social Research / Uluslararası Sosyal Araştırmalar Dergisi is the property of Journal of International Social Research and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use.
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          year: 2019
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