Distinguishable Cash, Bosonic Bitcoin, and Fermionic Non-fungible Token

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Tác giả: Zae Young Kim, Jeong-Hyuck Park

Ngôn ngữ: eng

Ký hiệu phân loại: 332.42 Monetary standards

Thông tin xuất bản: 2022

Mô tả vật lý:

Bộ sưu tập: Metadata

ID: 196006

 Comment: 8 pages including 3 figures
  v2) Eqns (46) and (47) added, minor changes, version to appear in Frontiers in PhysicsModern technology has brought novel types of wealth. In contrast to hard cashes, digital currencies do not have a physical form. They exist in electronic forms only. Yet, it has not been clear what impacts their ongoing growth will make, if any, on wealth distribution. Here we propose to identify all forms of contemporary wealth into two classes: 'distinguishable' or 'identical'. Traditional tangible moneys are all distinguishable. Financial assets and cryptocurrencies, such as bank deposits and Bitcoin, are boson-like, while non-fungible tokens are fermion-like. We derive their ownership-based distributions in a unified manner. Each class follows essentially the Poisson or the geometric distribution. We contrast their distinct features such as Gini coefficients. Further, aggregating different kinds of wealth corresponds to a weighted convolution where the number of banks matters and Bitcoin follows Bose-Einstein distribution. Our proposal opens a new avenue to understand the deepened inequality in modern economy, which is based on the statistical physics property of wealth rather than the individual ability of owners. We call for verifications with real data.
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