Are Private (Digital) Moneys (Disruptive) Social Innovations? An Exploration of Different Designs

This article explores which private moneys qualify as (disruptive) social innovations. A case study into 30 Dutch-based complementary currencies and cryptocurrencies was conducted to understand the functioning of different designs of private money systems as well as the motivations and objectives of involved social innovators. We conclude that private moneys generally can be qualified as social innovations but that their potential for disruptiveness is limited by design. It is the externalities that come with the public and network nature of monetary systems that are likely to impede disruption by private (digital) moneys.