‘Cryptocurrency’ : A New Form of Capital Accumulation Through the Construction of ‘Artificial Scarcity’ under Digital Capitalism.

Abstract

This article describes the issue of the crypto currency or digital currency phenomenon that has occurred in the past 10 years and currently has more than 2,000 currencies, which are becoming mentioned in the aspect of disruptive technology is about to revolutionize the world of business and finance into the era of the internet of value through the process digitization information in the digital world to become limited and worth having a free exchange on the internet based on blockchain technology in verified transaction on a distributed network of computers that are connected around the world. Which results in the possibility of peer to peer data transmission and can solve the problem of double spending which results in value exchange on the internet being a real thing. Therefore, the emergence of the crypto currency demonstrates a new form of capital accumulation of digital capital through the artificial scarcity processes. The author has applied the becoming rent of profit theory of Carlo Vercellone to explain.