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Are Private (Digital) Moneys (Disruptive) Social Innovations? An Exploration of Different Designs

Are Private (Digital) Moneys (Disruptive) Social Innovations? An Exploration of Different Designs This article explores which private moneys qualify as (disruptive) social innovations. A case study into 30 Dutch-based complementary currencies and cryptocurrencies was conducted to understand the functioning of different designs of private money systems as well as the motivations and objectives of involved social innovators. We conclude that private moneys generally can be qualified as social innovations but that their potential for disruptiveness is limited by design. It is the externalities that come with the public and network nature of monetary systems that are likely to impede disruption by private (digital) moneys. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Social Entrepreneurship Taylor & Francis

Are Private (Digital) Moneys (Disruptive) Social Innovations? An Exploration of Different Designs

Are Private (Digital) Moneys (Disruptive) Social Innovations? An Exploration of Different Designs

Journal of Social Entrepreneurship , Volume 8 (3): 18 – Sep 2, 2017

Abstract

This article explores which private moneys qualify as (disruptive) social innovations. A case study into 30 Dutch-based complementary currencies and cryptocurrencies was conducted to understand the functioning of different designs of private money systems as well as the motivations and objectives of involved social innovators. We conclude that private moneys generally can be qualified as social innovations but that their potential for disruptiveness is limited by design. It is the externalities that come with the public and network nature of monetary systems that are likely to impede disruption by private (digital) moneys.

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References (41)

Publisher
Taylor & Francis
Copyright
© 2017 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group
ISSN
1942-0684
eISSN
1942-0676
DOI
10.1080/19420676.2017.1364287
Publisher site
See Article on Publisher Site

Abstract

This article explores which private moneys qualify as (disruptive) social innovations. A case study into 30 Dutch-based complementary currencies and cryptocurrencies was conducted to understand the functioning of different designs of private money systems as well as the motivations and objectives of involved social innovators. We conclude that private moneys generally can be qualified as social innovations but that their potential for disruptiveness is limited by design. It is the externalities that come with the public and network nature of monetary systems that are likely to impede disruption by private (digital) moneys.

Journal

Journal of Social EntrepreneurshipTaylor & Francis

Published: Sep 2, 2017

Keywords: Private money; complementary currencies; cryptocurrencies; monetary system design; digitalization; disruption

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