UNRISD released a working paper on the role of cryptocurrencies in building social and solidarity finance

The United Nations Research Institute for Social Development (UNRISD) has published a working paper on ‘How can cryptocurrencies and blockchain technology can play a role in building social and solidarity finance?’. The paper analyses the functioning of the ‘bitcoin system’ and looks into the potentials and limits of cryptocurrency technology. According to the author, while there is much talk about bitcoin’s positive role as a tool for empowering marginalised communities, promoting financial inclusions, and building new systems of property rights, these claims are still to be tested. The paper also discusses about attempts to design new cryptocurrencies.