---
title: "Common knowledge theory of stablecoins"
author: "Berg, C.; Potts, J.; White, C."
date: "2024-04-16"
url: "https://chrisberg.org/2024/04/common-knowledge-theory-of-stablecoins/"
type: "Working papers"
published_in: "Working paper, SSRN"
doi: "10.2139/ssrn.4795490"
topics: "Cryptocurrency and digital money, Money and banking, Stablecoins"
---

# Common knowledge theory of stablecoins

With Chloe White and Jason Potts. [Available at SSRN.](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4795490)

**Abstract**: We propose a new theory of stablecoins based on common knowledge. We contrast this with the ‘better money’ theory of stablecoins, which emphasises marginal improvements over the standard origin of money theory as: medium of exchange, unit of account, store of value.