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Cryptocurrencies and fiat money: The end of a public good?

Quiggin quoted that “Everyone, except an economist, knows what ‘money’ means, and even an economist can describe it in the course of a chapter or so”. In this paper we consider money a public good. Specifically, by money as a public good, it is clear a) that money is strictly considered as a resource, b) it serves the common good and c) the rules for the monetary system are set up in a democratic manner. Today - or maybe until the rise of FinTech- the State's money, a legal monopoly is the dominant form of money, public money. FinTech introduces blockchain digital currencies and possibly bringing private money and old ideas back to the economic sphere. In this article we outline the pros and cons of cryptocurrency and fiat currency, and we are trying to map while setting future arguments of their possible relationship/coexistence in the monetary systems.