@electronic{Hanl2017,
  abstract = {Cryptocurrencies such as Bitcoins may revolutionize the financial system by at least partially replacing intermediaries such as central banks and commercial banks. The blockchain technology enables users to transact on a peer-to-peer basis. This imposes a serious threat on the financial intermediaries as well as on monetary policy authorities. In this paper, we examine how well cryptocurrencies fulfill the functions of a fiat money and discuss the comparative advantages of cryptocurrencies. We proceed by exploring the implications of digital currencies for the concept and conduct of monetary policy},
  author = {Hanl, Andreas and Michaelis, Jochen},
  institution = {University of Marburg},
  interhash = {a1739a85aacc6d6e906f92564f5474e4},
  intrahash = {c5c13ae8b57cf4423b09e00500b37706},
  series = {MAGKS Joint Discussion Paper Series in Economics},
  title = {Kryptowährungen – Ein Problem für die Geldpolitik ?},
  url = {https://www.uni-marburg.de/fb02/makro/forschung/magkspapers/paper_2017/15-2017_hanl.pdf},
  year = 2017
}