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The market for fiat-referenced cryptoassets, commonly known as stablecoins, has expanded rapidly in recent years alongside the growth of the cryptoasset ecosystem. In fact, the market capitalization of stablecoins increased by more than 30 times since the beginning of 2020. What risks could...
Persistent link: https://www.econbiz.de/10013465126
This paper summarises the outcomes of the analysis of the ECB Crypto-Assets Task Force. First, it proposes a characterisation of crypto-assets in the absence of a common definition and as a basis for the consistent analysis of this phenomenon. Second, it analyses recent developments in the...
Persistent link: https://www.econbiz.de/10012014099
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Crypto assets' partial money-like use promotes toxic developments in the financial system. Even though crypto assets might be regarded as close substitutes to traditional money, we show that they lack important functions of money. Traditional fiat money requires several interacting institutions...
Persistent link: https://www.econbiz.de/10014537252
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role of fintech and blockchain as an opportunity to make the necessary changes in trust between stakeholders to deliver aid …The potential of blockchain technology for the delivery of aid in humanitarian crises has drawn attention not only for …
Persistent link: https://www.econbiz.de/10014352254
Stablecoins and money market funds both seek to provide investors with safe, money-like assets but are vulnerable to runs in times of stress. In this paper, we investigate similarities and differences between the two, comparing investor behavior during the stablecoin runs of 2022 and 2023 to...
Persistent link: https://www.econbiz.de/10014414304
Stablecoins and money market funds both seek to provide investors with safe, money-like assets but are vulnerable to runs in times of stress. In this paper, we investigate similarities and differences between the two, comparing investor behavior during the stablecoin runs of 2022 and 2023 to...
Persistent link: https://www.econbiz.de/10014391283
Persistent link: https://www.econbiz.de/10012703118
system. This book analyses how the development of cryptocurrencies based on blockchain distributed ledger technologies has …
Persistent link: https://www.econbiz.de/10013504744