VVAA (2016) Virtual Currencies and Beyond: Initial Considerations
New technologies—supported by advances in encryption and network computing—are driving transformational change in the global economy, including in how goods, services and assets are
exchanged. An important development in this process has been the emergence of virtual currencies (VCs). VC schemes are private sector systems that, in many cases, facilitate peer-to-peer exchange bypassing traditional central clearinghouses. VCs and their associated technologies (notably distributed ledgers based on blockchains) are rapidly evolving, and the future landscape is difficult to predict.