The Digital Currencies and Their Impacts on  the Future of the International Economy

Ghalandari, Yaghoub; Fahandej Saade, Soroosh; Bayazi, Sajjad

The Digital Currencies and Their Impacts on the Future of the International Economy

Document Type : Original Article

Authors

¹ PhD in Political Science, Faculty of Economics and Political Science, Shahid Beheshti University, Tehran, Iran (corresponding author)

² Master of Political Science in International Relations, Faculty of Law and Political Science, University of Tehran, Tehran, Iran

³ PhD student in Economics, Faculty of Economics, Allameh Tabatabai University, Tehran, Iran

Abstract

The digital age is changing the shape of our environment in many ways. In this regard, digital currencies have created a new development in the economic and financial dimensions of the international environment, From creating competitive advantages through manipulation of the global market through currency wars to evading sanctions. Entering the complex era of great power competition, this issue becomes more necessary. Considering the conditions of sanctions and also becoming a trans-regional power, the Islamic Republic of Iran should find ways through which it can carry out its exchanges and neutralize its payment barriers. Increasing its role in international trade is essential for Iran to do so. Now, the current research is trying to answer its central question, what is the part of digital currencies on the effect of currency wars in international trade, with secondary studies and descriptive-explanatory methods. According to the results, digital currencies - both governmental and non-governmental - with the confidentiality of transactions and without monitoring them allow governments to overcome currency and economic wars and with greater freedom of action in the international economy and to float in it. Also, using digital government currencies could lead to a new type of trade war that would overshadow the global market by accumulating reserves.

Keywords