Just HODL? On the Moral Claims of Bitcoin and Ripple Users
- 92 Downloads
Money has come a long way from the substances and shapes it had in antiquity and early modernity to the ever more ephemeral forms it took on in the last decades. A further step in this direction to an increasingly virtual world of finance is digital money. Amongst digital currencies, cryptocurrencies like Bitcoin and the many hundred altcoins created lately, stand out because of the challenge they pose to the conventional contour and conception of monetary systems. In addition to private banks and the public hand, via cryptocurrencies now also individuals emerge as emitters of currency. Whereas formerly the sovereignty over the issuance of money was anchored locally or nationally, backed by tangible private or public institutions, cryptocurrencies immediately surface globally within the intangible cyberspace of the worldwide web. In this novel realm of money, the cryptocurrencies Bitcoin and Ripple stand for two different approaches to the question as to which impact money ought to have in people’s lives, and as to how individuals in turn can influence the nature and future of money. The article discusses the moral claims of these rivaling conceptions.
KeywordsBlockchain Cryptocurrencies Bitcoin Ripple digital money
Compliance with Ethical Standards
Conflict of Interest
The corresponding author states that there is no conflict of interest.
- Dierksmeier, Claus, and Peter Seele. 2016. Cryptocurrencies and business ethics. Journal of Business Ethics 1–14.Google Scholar
- Larson, James. 2017. Asia, including Korea, going mad for ripple coin? Korea's Information Society: James F. Larson: 2017–12.Google Scholar
- Vigna, Paul. 2017. Meet ripple, the currency that’s running laps around bitcoin. MoneyBeat | Wall Street Journal 2017–12.Google Scholar
- Vigna, Paul, and Michael J. Casey. 2015. Cryptocurrency: how Bitcoin and digital money are challenging the global economic order. London: Bodley Head.Google Scholar
- Wang, Brian, and Future Next Big. 2017. Ripple briefly passes Ethereum for second largest cryptocurrency by market capitalization. Next Big Future 2017–12.Google Scholar
- Zacks Investment, Research. 2016. Explaining bitcoin and crypto currency. Zacks Investment Research 2016–08.Google Scholar
- Zacks Investment, Research. 2018. What investors need to know about ripple, Bitcoin's cryptocurrency rival. Zacks Investment Research 2018–01.Google Scholar