Cryptocurrencies: notes from a macroeconomic perspective/Criptomoedas: apontamentos sob a ótica macroeconômica

Abstract

Cryptocurrencies are decentralized digital currencies that can have new units generated as a reward for the use of computational capacity, thus representing a rupture with the "traditional" model of currencies by replacing the trust existing in them due to a regulatory entity by an electronic system of based on cryptographic evidence. The expansion in adoption and volume of cryptocurrencies is a trend in the current context. Given such a panorama, and considering the fact that they are decentralized, could the crypto-currencies bring about some instability from the point of view of the relationship between state and economy? Thus, the present work aims to identify to what extent the advent of cryptocurrency and their recent expansion may interfere in economic policies and activities. Thus the research in question, with an exploratory character, will start from the collection of bibliographic materials related to the topic, as well as reports dealing with the area. With this, it is sought to identify important factors that can relate the areas of cryptocurrency and economy. Therefore, several questions about this modality can be raised, in various areas. Among the various problems, from an economic point of view, it is possible to analyze some opportunities and obstacles considering whether or not there is regulation of cryptocurrencies. It is also possible to make notes on the risks from the point of view of monetary and financial stability that could emerge from the widespread or widespread use of cryptocurrencies In this sense, it is necessary to understand the limits for the currency format in question, so as to anticipate the response of the State to the variations in the use of them, as well as discuss the question of whether or not the intervention and public regulation in this segment of financial transactions. With the work in question, we sought to broaden the discussion about the potentialities, as well as risks, associated with the growth of cryptocurrencies, since these are becoming increasingly important not only from the point of view of the economy. Still, it is worth noting that further analysis and projections on the subject are still needed, since some components of the same diverge from traditional structures in terms of currency, or state reach.

Keywords

• virtual currencies
• economy
• regulation