Alternative Forms of Currency: An Exploratory Theoretical Analysis of Bitcoin

Abstract

Objective: The study aims to critically analyse the role of digital currencies in the context of the monetary system and the challenges and implications for monetary liberalism. Method: Critical review based on an analysis of financial doctrine. A descriptive approach was applied to identify the relevant theories, followed by a critical analysis of the perspectives adopted by the authors. The main theoretical arguments are identified and debated. The methodology enables a critical study to be carried out through comparisons. Results and conclusions: The results highlight the clarity of the arguments, the logical solidity, and the relevance of the evidence presented by the authors. The comparative analysis reveals points of convergence and divergence in the arguments. Inclusive interpretation and reflection allowed the implications of the theoretical approaches for the field of study to be analysed. The conclusions reveal the evidence obtained. Implications if the research: They include an in-depth understanding of the financial theories examined at the level of Bitcoin, highlighting contributions and limitations. Promotes the advancement of knowledge in the theoretical field, identifies possible gaps in the literature, and suggests areas for future research. Provides relevant insights for academia, society, and policymakers. Originality/value: It resides in the application of a critical and analytical approach to financial theories, offering a detailed and contextualised review of the literature. The value comes from providing enlightened insights into the theoretical foundations and possible applications, contributing to the advancement of the academic and social fields.