(5) [26 marks) Electronic Cryptocurrencies Cryptocurrencies are a major monetary innovation that is bringing about a radical rethink on the role of money. (a) Briefly describe the functions of money in view of the above statement. How are these functions of money being fulfilled in monetary systems of advanced economies in which, as noted by Barrdear and Kumhof (2016) and others, state supplied notes and coins play little role in payments as over 96% of money balances are supplied by commercial banks in electronic deposit accounts. (b) Discuss the agenda given in a White Paper by the inventor of Bitcoin whose pseudonym is Satoshi Nakamoto. With the huge speculative bubbles in the price of cryptocurrencies, have cryptocurrencies fulfilled Nakamoto's vision? (5) [26 marks) Electronic Cryptocurrencies Cryptocurrencies are a major monetary innovation that is bringing about a radical rethink on the role of money. (a) Briefly describe the functions of money in view of the above statement. How are these functions of money being fulfilled in monetary systems of advanced economies in which, as noted by Barrdear and Kumhof (2016) and others, state supplied notes and coins play little role in payments as over 96% of money balances are supplied by commercial banks in electronic deposit accounts. (b) Discuss the agenda given in a White Paper by the inventor of Bitcoin whose pseudonym is Satoshi Nakamoto. With the huge speculative bubbles in the price of cryptocurrencies, have cryptocurrencies fulfilled Nakamoto's vision