The Role of Cryptocurrencies in International Peace and Security with Emphasis on the Development of Global Trade

Abstract

The emergence of cryptocurrencies and blockchain technology over the past decade has transcended the boundaries of traditional monetary and financial systems and has transformed the foundations of trust and economic regulation. On the one hand, this phenomenon—by eliminating banking intermediaries, facilitating international payments, and reducing transaction costs—has paved the way for the expansion of global trade and equal access to financial services. On the other hand, due to the absence of a coherent regulatory framework and divergent governmental approaches, it has generated challenges such as economic instability, money laundering, and threats to monetary policy. Within this context, the role of cryptocurrencies in strengthening economic cooperation and fostering positive peace among states—particularly through enhancing economic interdependence—constitutes an issue that has received limited comprehensive analysis in the literature of international economic law. Using a descriptive–analytical method and drawing upon legal, economic, and international policy resources, the present study seeks to elucidate the position of cryptocurrencies as instruments for removing banking barriers, supporting small and medium-sized enterprises, and reducing economic inequalities among countries. The analytical findings of the article indicate that cryptocurrencies, if governed by transparent and multilateral regulatory frameworks, can function as a novel infrastructure for economic justice and sustainable global peace; however, neglecting their international regulation will heighten the risk of financial fragmentation and economic rivalry.