ABSTRACT
One of the most critical areas to consider when exploring the economic advantages of cryptocurrency is its impact on democracy and governance. Exploring this aspect eventually raises a question related to the consequences for democracy and governance when implementing crypto policies. Does empirical research reveal ramifications that pander to one side of the spectrum? How has the approach to cryptocurrency varied between economic giants like the United States, the United Kingdom, and China vs. the Caribbean and East-Asian territories? With the meteoric rise in cryptocurrency research, how can global economies and entrepreneurs alike, employ the best approach to crypto savviness and crypto transactions while maintaining the principles of good governance and democracy? After scrutinizing the multidisciplinary and multifarious strategies that the extant literature examines, this chapter uncovers the issues with cryptocurrency that are related to equality and equity, efficiency and effectiveness, accountability, quality of life, policy, economy and growth, corruption, and privacy. Governance and democracy are the results of public policy. The foregoing has been sufficiently addressed in the preceding chapters. This chapter goes further by connecting these notions to cryptocurrency. The results show that cryptocurrencies and government policy/administration are underpinned by a symbiotic relationship.
