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Cultural and Religious Heritage and Multiple Digital Currencies for a Humane Economy: Standard-Based Stewardship or Preference-Based Regulation of the Blockchain in an Emergent Pan-European Order
Södertörn University, School of Social Sciences, Economics.ORCID iD: 0000-0001-6577-2915
2021 (English)In: Culture and Economics. 5th InternationalEconomic Philosophy Conference: (23-25 Jun 2021 Warszawa, Poland): Book of Abstracts, 2021, p. 30-Conference paper, Oral presentation with published abstract (Other academic)
Abstract [en]

Alternative currencies involve private monies: complementary currencies, which coexist with national currencies, and cryptocurrencies, which are out of control of central banks, having induced plans for central bank digital currencies. Complementary currencies often have a social dimension and have an established history as moral monies contributing to community development, while cryptocurrencies may do so globally, using blockchain technology. In order to function as moral monies, the latter require standard-based stewardship, whose standards are based on virtues, shaped by the cultural and religious heritage of a society. Market economies rely on market virtues for human flourishing that have their foundation in reciprocity and mutual benefit. This paper analyzes the evolution of complementary currencies and cryptocurrencies as private monies, for a humane economy in a Pan-European context of cultural and religious diversity, where the choice of standard-based stewardship rather than preference-based regulation of the blockchain technology has a cultural foundation. Coudenhove-Kalergi’s interwar Pan-European vision, including co-evolution of ethics and technology, is combined with Röpke’s postwar notion of humane economy, reflecting a shared European cultural and religious heritage, which is Hellenistic and Judeo-Christian, given the Pan-European vision as the roots of the European Union. Standard-based stewardship of complementary currencies and cryptocurrencies is compared to preference-based regulation of central bank digital currencies, targeting total spending, nominal gross domestic product.

Place, publisher, year, edition, pages
2021. p. 30-
Keywords [en]
Standard-based stewardship; cultural and religious beliefs; blockchain technology; multiple digital currencies; macroeconomic stability
National Category
Economics
Identifiers
URN: urn:nbn:se:sh:diva-46069OAI: oai:DiVA.org:sh-46069DiVA, id: diva2:1577203
Conference
5th International Economic Philosophy Conference, Warszawa [Digital], June 23-25, 2021.
Available from: 2021-07-02 Created: 2021-07-02 Last updated: 2025-10-07Bibliographically approved

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Marmefelt, Thomas

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • harvard-anglia-ruskin-university
  • apa-old-doi-prefix.csl
  • sodertorns-hogskola-harvard.csl
  • sodertorns-hogskola-oxford.csl
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf