The Ethics of High-Risk, High-Return Decentralized Finance: How Cryptocurrencies Align with the Values of the Orthodox Christian Worldview

The use of cryptocurrencies and blockchain technology raises ethical dilemmas and challenges, as they are driven by an instrumental financial rationalism that focuses on outcomes while often disregarding ethical values, they cause economic, social, and environmental consequences. In contrast, Orthodox Christian ethics emphasize the need for a human-centered approach to wealth creation and management, advocating for responsible technology use that prevents illicit financial activities, mitigates moral hazards, and respects the environment. Based on extensive literature review and analysis, this paper examines, from an interdisciplinary perspective, the relevance of modern cryptoeconomy to the human values of Orthodox Christian ethics. The findings highlight the strong outcome-oriented focus of cryptocurrency platforms, often ignoring principles such as ethical responsibility, social justice, and solidarity, which Orthodoxy upholds. At the same time, it reveals a new complex reality that questions the claimed decentralization, economic freedom, and transparency of cryptoeconomy, leading to the necessity of shaping an ethically sustainable approach.

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Publication Details

Journal
International Journal of Social Science and Economic Research
Published
2025-01-01
DOI
https://doi.org/10.46609/ijsser.2025.v10i03.013
Primary Topic
Blockchain Technology Applications and Security
Type
article
Field-Weighted Citation Impact
0.00
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article

The Ethics of High-Risk, High-Return Decentralized Finance: How Cryptocurrencies Align with the Values of the Orthodox Christian Worldview

Ioannis Gazetas, Ioannis Aznaouridis
International Journal of Social Science and Economic Research
Blockchain Technology Applications and Security
article

The Ethics of High-Risk, High-Return Decentralized Finance: How Cryptocurrencies Align with the Values of the Orthodox Christian Worldview

Ioannis Gazetas, Ioannis Aznaouridis
article en

Abstract

The use of cryptocurrencies and blockchain technology raises ethical dilemmas and challenges, as they are driven by an instrumental financial rationalism that focuses on outcomes while often disregarding ethical values, they cause economic, social, and environmental consequences. In contrast, Orthodox Christian ethics emphasize the need for a human-centered approach to wealth creation and management, advocating for responsible technology use that prevents illicit financial activities, mitigates moral hazards, and respects the environment. Based on extensive literature review and analysis, this paper examines, from an interdisciplinary perspective, the relevance of modern cryptoeconomy to the human values of Orthodox Christian ethics. The findings highlight the strong outcome-oriented focus of cryptocurrency platforms, often ignoring principles such as ethical responsibility, social justice, and solidarity, which Orthodoxy upholds. At the same time, it reveals a new complex reality that questions the claimed decentralization, economic freedom, and transparency of cryptoeconomy, leading to the necessity of shaping an ethically sustainable approach.

International Journal of Social Science and Economic ResearchVol. 10(03)
Openalex Percentile: Top 85%
Blockchain Technology Applications and Security
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