University of Nottingham Malaysia
School of
Politics, History and International Relations
     
  

American primacy in the coming cryptocurrency age

Location
F4B09a
Date(s)
29th January 2019
Contact
For more information on the event, kindly e-mail Benjamin Barton
Description
Although a significant body of literature in the field of International Relations has emerged over the past decade proclaiming the end of American primacy - whether due to American decline, the rise of China and other emerging powers, or a combination of both - this article argues that when considered objectively, the United States' prime position in international politics is safe for the time being. Not only it has the United States significant power advantages in what are considered traditional areas of international politics - namely military power, economic power, and soft power - it also has the incredible financial clout emanating from having the US dollar as the world's reserve currency.

However, this talk argues that the growth of cryptocurrencies potentially undermines American primacy because it threatens the privileged position of the American dollar. Independent cryptocurrencies, due to their privacy and decentralisation, operate beyond the scope and power of the state, giving them the potential to be counter-hegemonic. Furthermore, there is potential for revisionist states - especially China or Russia - to try and weaponise cryptocurrencies to challenge the United States. While this article acknowledges the volatility of independent cryptocurrencies and the inherent limitations of state-backed ones, it is argued that, regardless, the technological revolution they are precipitating is disruptive and should eventually undermine and change the international financial system. This, in turn, could hasten the decline of the United States from its current prime position in international politics. Thus, it is imperative the United States develops useful contingencies in order to prepare for the challenges of the coming cryptocurrency age.

Details
Date:
29 January 2019, Tuesday
Time:
14:00 to 15:30 
Venue:
 F4B09a
               University of Nottingham Malaysia
               Jalan Broga 43500 Semenyih Selangor Darul Ehsan

About the speaker
Dr Nicholas Ross Smith is an Assistant Professor of International Studies at the University of Nottingham Ningbo China. His main areas of expertise are Russia foreign policy, International Relations theory, and great power competition. He is the author of the book EU-Russian Relations and the Ukraine Crisis (2016, Edward Elgar) and has recently published articles with The Journal of Politics, International Politics, and Orbis.

School of Politics, History and International Relations

University of Nottingham Malaysia
Jalan Broga, 43500 Semenyih
Selangor Darul Ehsan, Malaysia

telephone: +6 (03) 8924 8253
fax: +6 (03) 8924 8019

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