RT Journal Article SR Electronic T1 Useful Money and Cryptocurrencies JF The Journal of Investing FD Institutional Investor Journals SP 62 OP 69 DO 10.3905/joi.2019.28.3.062 VO 28 IS 3 A1 Nicolaisen, Jon A1 Østbye, Peder YR 2019 UL http://joi.pm-research.com/content/28/3/62.abstract AB Cryptocurrencies aim at substituting the operations of trusted financial institutions with decentralized operations, including the monetary functions provided by central banks. This article addresses some fundamental questions. Can cryptocurrencies, with no institutions behind them, really function as useful money? Can cryptocurrencies improve our payment system? What are the risks? And how should central banks and other policy makers respond to cryptocurrencies?