Generation, Security and Distribution of NationCoins by a Sovereign Authority

Hegadekatti, Kartik and S G, Yatish (2016): Generation, Security and Distribution of NationCoins by a Sovereign Authority. Published in: Comparative Political Economy: Monetary Policy eJournal , Vol. 05, No. 08 (16 January 2017)

Abstract

NationCoins are cryptocurrencies backed by Sovereign Authority (Simply put, they are Government issued Bitcoin-like cryptocurrencies). In this paper, we explain the generation, security and distribution of NationCoins by a Sovereign Authority. We begin by explaining the concept of cryptocurrencies (also referred to as cryptocoins in this paper). We then discuss the concept of Regulated and Sovereign Backed Cryptocurrencies (RSBCs). Then we envision a scenario where cryptocoins are a main medium of exchange in an economy. The generation, security and distribution of NationCoins by a Sovereign Authority are deliberated. Finally, the paper concludes by outlining the functions of the Sovereign Authority vis-a-vis NationCoins.

• Item Type: MPRA Paper
• Language: English
• Keywords: NationCoins, K-Y Protocol, Bitcoin, Cryptocurrencies
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E41 - Demand for Money; E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money Multipliers; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization ; Manufacturing and Service Industries ; Choice of Technology; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives; O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O38 - Government Policy

References

[1] Hegadekatti, Kartik and S G, Yatish, The K-Y Protocol: The First Protocol for the Regulation of Crypto Currencies (E.G.-Bitcoin) (February 13, 2016).