Glossary entry

English term or phrase:

cryptoeconomy or cryptoeconomics

English answer:

the cryptoeconomy

Added to glossary by Yvonne Gallagher
Sep 21, 2017 20:00
6 yrs ago
3 viewers *
English term

cryptoeconomy or cryptoeconomics

English Bus/Financial Finance (general) cryptocurrencies etc.
as a collective noun for the transactions and economic activity having to do with cryptocurrencies, and not the study of this phenomenon
I would pick cryptoeconomy (based on the economy vs economics distinction), but some sources seem to disagree
Change log

Oct 9, 2017 13:15: Yvonne Gallagher Created KOG entry

Responses

10 days
Selected

the cryptoeconomy

They are two different things. I give you definitions below and think in your case you need to use cryptoeconomy

http://insidebitcoins.com/news/an-introduction-to-cryptoecon...
"...The crypoteconomy refers to a growing array of emerging technologies, rooted in public-key cryptography, that enable individuals to engage in a huge range of economic activities that were previously possible only through financial intermediaries.
In building this suite of technologies, the market is behaving with astonishing intelligence, turning out innovations every day that would have been inconceivable a decade ago. Whole worlds of code are being woven by a decentralized network, seeking to solve universal human problems concerning finance, monetary economics, contracts, insurance, property titles, and every other form of human engagement.
The pace of development is red hot. Every innovation is being tested against user experience and investor enthusiasm. You can follow the market in real time, with digital currencies and other forms of digital assets soaring to new heights and making millionaires by the day. It’s no longer just about Bitcoin. It’s about thousands of new services being built on top of distributed platforms such as Ethereum, a code environment that does for crypto what iOS first did for the app economy...."

https://www.coindesk.com/making-sense-cryptoeconomics/
"Cryptoeconomics is a concept as well as a new term and, hence, has no official definition yet.
...cryptoeconomics is “a formal discipline that studies protocols that govern the production, distribution and consumption of goods and services in a decentralized digital economy. Cryptoeconomics is a practical science that focuses on the design and characterization of these protocols.”
The Ethereum Wiki defines cryptoeconomics as “the combinations of cryptography, computer networks and game theory which provide secure systems exhibiting some set of economic dis/incentives.”
While the founder of TheControl, Nick Tomaino, explains cryptoeconomics as “the study of economic interaction in adversarial environments. In decentralized P2P systems that do not give control to any third party, one must assume that there will be bad actors looking to disrupt the system. Cryptoeconomic approaches combine cryptography and economics to create robust decentralized P2P networks that thrive over time despite adversaries attempting to disrupt the network.”

In simple terms, cryptoeconomics is a new field of study that analyses economic interactions in the decentralized digital economy that was pioneered by bitcoin. It is the foundation on which cryptocurrencies and digital assets are built on..."

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Note added at 17 days (2017-10-09 13:15:12 GMT) Post-grading
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Glad to have helped
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4 KudoZ points awarded for this answer. Comment: "thanks a lot!"
24 mins

two different things, see below

You are correct that the definition describes cryptoeconomy, but cryptoeconomics is a different thing and should be defined differently.

Economics is a discipline that can help us answer these questions. Economics can actually be defined in a few different ways: it’s the study of scarcity, the study of how people use resources, or the study of decision-making. Economics often involves topics like wealth, finance, recessions, and banking, leading to the misconception that economics is all about money and the stock market.

Actually, it’s a much broader discipline that helps us understand historical trends, interpret today’s headlines, and make predictions for coming decades.

Cryptoeconomics is a new discipline that came around with Bitcoin that helps us answer these questions, within a blockchain-based cryptocurrency.

https://blog.coinfund.io/cryptoeconomics-is-hard-ad401b2428b...
https://blog.coinfund.io/cryptoeconomics-is-hard-part-2-4d52...
Note from asker:
Thanks for your answer. What I am after though is finding out if there is a reason for calling the economy of cryptocurrencies 'cryptoeconomics' - one that I do not know of))
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3 hrs

cryptoeconomy

Human language not having the precision of maths, words are often used giving them some vaguely similar/related meaning (or even wrong meaning), but

"economy" means primarily the real world economic activity, while "economics" is primarily the theoretical study of how an economy functions.


economy ɪˈkɒnəmi/ noun

1. the state of a country or region in terms of the production and consumption of goods and services and the supply of money.
"he favours tax cuts to stimulate the economy"
synonyms: wealth, (financial) resources; financial system, financial state, financial management
"the nation's economy"

2. careful management of available resources.
"fuel economy"
synonyms: thrift, providence, prudence, thriftiness, canniness, carefulness, care, good management, good husbandry, careful budgeting, economizing, saving, scrimping and saving, scrimping, restraint, frugality, fuel-saving, abstemiousness; meanness, penny-pinching, miserliness, niggardliness, parsimony; forehandedness; informalstinginess; raresparingness, frugalness
"Mrs Beeton attempted to combine good living with economy"

economics iːkəˈnɒmɪks,ɛkəˈnɒmɪks/ noun

1. the branch of knowledge concerned with the production, consumption, and transfer of wealth.

2. the condition of a region or group as regards material prosperity.
"he is responsible for the island's modest economics"
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