
Monetary policy is at the heart of the fight against the crisis and the pandemic, and its role in financing public debt is crucial. The transformations observed in the field of money are taking place at the same time as fundamental changes in monetary policy (negative interest rates, massive purchases of debt, etc.). We believe it is crucial to understand the economic, political, and institutional issues of this new generation of private digital currency, as the emblematic manifestation of this platform capitalism.īeyond money alone, it would be interesting to carry out a wider reflection, which could mobilize issues that are crossed with other disciplines (management, law, IT, sociology of digital uses), so as to highlight the logics that are emerging today in the new dynamics of capitalism: the organization of the economy into networks, information capitalism and the technological revolutions that accompany it: artificial intelligence, the development of blockchains. However, with this in mind, we think it is essential to relocate the ambition of GAFAM to issue their own currency, as evidenced by the Libra project (now renamed Diem) launched by Facebook in 2019. Thus, the evolution of the Internet network now dominated by Big Tech (GAFAM), the powerful oligopolies capable of competing with States, and information and the collection of personal data as main sources of profit lead to reflections on the new regime of growth and the new modalities of action of a so-called “informational” capitalism ». The transformations which are at work today in the field of currency are not simple post-crisis cyclical effects: they herald deeper changes, which also lead us to think of the current mutations of capitalism.

How will regulators and governments react? What about central bank digital projects?.This also raises the question of the link between currency and power. Are we witnessing a new currency war (public currencies, private currencies)? This raises the question of public/private conflict regarding the issuing of currency.
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It is, then, possible to understand the changes in the political and social structure that the economic dynamic can produce. Finally, innovation can also be thought of in a broader sense, as the questioning of an established order. Understanding a process of innovation is also to enlighten the actors who carry the stages of its realization through their multiple roles, sometimes initiators, translators, recruiters, intermediaries, when new ideas or practices emerge, then spread. It also means understanding that an innovation is part of a trajectory, that is to say, an organizational, but also sectoral and institutional history that shapes the course of its evolution. To study an innovation as a process is to be interested in the temporal framework in which it is inscribed, in the stages of its emergence, of its “manufacture” and distribution, time to go, time to stop and go back, in creative loops rather than linear sequences. It also sometimes leads to new business models, based on configurations of value chains that provide the promise of an attractive proposal, recognized as such by the market. Indeed, innovation is generally understood as the result, the purpose, of a creative initiative that ultimately leads to the proposal of a product (good or service) or of a new process (production). LEFMI is built around a unifying topic, namely innovation.
