Session Title: "Principles of Money and Banking: “A Theoretical Framework for Understanding Crypto Currency Hesitancy: Strategies for Growth"
Speaker: Ernest Edward Pegram, Assistant Professor, Economics, Averett University, USA
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Session description:In year 2021, twelve years after the emergence of Bitcoin, crypto currencies witnessed growth in terms of investments, payments, and market activity. Cryptocurrencies have a current market value of $2.6 trillion dollars. In the context of the growth of crypto currencies, there exists crypto currency hesitancy among governments, industry leaders, and business leaders, prompting Jane Hume, Financial Services Minister, Australia, to state, “Crypto currency is not a fad, arguing that government and industry should not fear the rise of decentralized finance.” Under the construct of principles of Money and Banking, the purpose of this paper is to outline a theoretical-analytical framework for gaining insight and understanding better crypto currency hesitancy among governments, industry leaders, and business leaders. The theoretical-analytical framework is three-part: 1) government, 2) money, and 3) banking for comparing the role of traditional currency to crypto currency in the economy. An implication of this paper yields insights for the growth of crypto currency development. References A Short History of Bitcoin And Crypto Currency Everyone Should Read, Bernard Marr (Forbes, December 2017) Cryptocurrency ‘no passing fad’: minister warns against Australia being left behind

Bio:  Dr. Ernest E. Pegram is an Assistant Professor of Economics, Averett University, and Graduate School of Professional Studies. Dr. Pegram’s research focuses on the intersection of International Economics, Economic Development, and Global Business. Dr. Pegram teaches courses on Principles of Microeconomics, Principles of Macroeconomics, Advanced Managerial Economics, International Trade, Money and Banking, Economic Development, Labor Economics, and International Business courses.