This paper examines the functioning of virtual currencies as payment systems through crypto-currency exchanges and the likely impact their integration with traditional payment systems may have on the interdependent global payment systems. Being a potential global transformational phenomenon,...

In this study, we examine the spillover of Bitcoin’s jumps and diffusive variations to traditional assets using high frequency data. For our cross-asset study, we detect positive spillovers from Bitcoin to risk assets and negative spillovers to defensive assets. We also find evidence of...

In this study, we examine the cross-excitation effects of Bitcoin’s jumps and diffusive variations on traditional asset classes using high frequency data. For our cross-asset study, we detect the presence of positive jump spillovers from Bitcoin to risk assets and negative jump spillovers from...

Satoshi Nakamoto proposed in 2008, a peer-to-peer payment system, Bitcoin, outside of government or central bank intervention, government mismanagement or economic conditions. What the current pandemic has shown, is that even Bitcoin is not immune to the effects of COVID-19, for as the pandemic...

Electronic money has evolved in one of the relevant ways to achieve electronic payment, that is, a form of payment with significantly lower online transactions. The idea for the development of the above has consolidated the segment of retaining all the favourable characteristics of cash while...