Bitcoin was the first decentralized cryptocurrency created in 2009. It has been gaining increasing attention from the media, academics, the financial industry, and in recent years several other cryptocurrencies, such as Facebook’s Libra, have been introduced. There are numerous reasons behind the great interest concerning cryptocurrencies, one of them is whether they can complement or even replace fiat currency. 

Federico Boffa, professor of Economics at Libera Università di Bozen-Bolzano, Paolo Giudici, professor of law at Libera Università di Bozen-Bolzano, Robert Parson, partner at Clyde & Co and Francesco Ravazzolo, professor of Econometrics at Libera Università di Bozen-Bolzano, discuss legal and economic implications and provide empirical examples.