CoinAsia: A Sovereign Backed Cryptocurrency and Blockchain for Asia

14 Pages Posted: 10 Jan 2017

Date Written: December 22, 2016

Abstract

This paper proposes the introduction of a Sovereign Backed Cryptocurrency for Asia called CoinAsia. CoinAsia will be an Asian reserve currency. I analyse the impact of CoinAsia on Asian economies in a scenario where Sovereign Backed cryptocurrencies will be the mainstream bills of exchange. Firstly, the concept of cryptocurrencies (also referred to as cryptocoins in this paper) is explained. Then the concept of Regulated and Sovereign Backed Cryptocurrencies (RSBCs) is discussed. Later, we envisage a scenario where CoinAsia is the main currency of exchange in Asia. Finally, the paper concludes as to why CoinAsia is best suited to be the mainstream bill of exchange which will eventually replace the Dollar as a reserve currency.

Keywords: euro, blockchain, cryptocurrency

JEL Classification: N15, N25, E42, E51, E58, F02, F33, F45

Suggested Citation

Hegadekatti, Kartik, CoinAsia: A Sovereign Backed Cryptocurrency and Blockchain for Asia (December 22, 2016). Available at SSRN: https://ssrn.com/abstract=2888721 or http://dx.doi.org/10.2139/ssrn.2888721

Kartik Hegadekatti (Contact Author)

Independent ( email )

New Delhi, 110003
India

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