Session Title: "Do cryptocurrencies really have (no) intrinsic value?"
Speaker: Horst Treiblmaier, Full Professor and Head of the Department of International Management, Modul University Vienna
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Session description: Depending on the chosen perspective, cryptocurrencies either constitute a unique opportunity to end national patronizing built on debt-based fiat money (currency) or a menace to a well-established financial order that ensures economic stability. A central issue in the heated debate surrounding cryptocurrencies is whether they have any intrinsic value at all. In this conceptual position paper, we briefly summarize existing standpoints and suggest three alternative propositions: (1) to avoid using the term “intrinsic value” for the valuation of cryptocurrencies, (2) to refer to the sum total of all properties that could potentially qualify them as money, and (3) to consider the amount of capital and energy that is needed to create them. These suggestions bear substantial implications for the economic classification of cryptocurrencies.* *This presentation is based on the following publication: Treiblmaier, H. (2021) "Do Cryptocurrencies Really Have (no) Intrinsic Value?", Electronic Markets, DOI:

Bio:  Horst Treiblmaier is a Professor in International Management at Modul University Vienna, Austria. He received a Ph.D. in Management Information Systems from WU Vienna and worked as a Visiting Professor at Purdue University, University of California, Los Angeles (UCLA), University of British Columbia (UBC), and the University of Technology in Sydney (UTS). His research interests include the economic and business implications of blockchain and the evolution of the token economy. He teaches blockchain-related topics and is a frequent speaker at academic conferences and industry events.