In this paper, we gather together the minimum units of Bitcoin identity (the individual addresses), and group them into approximations of business entities, what we call “super clusters”. While these clusters can remain largely anonymous, we are able to ascribe many of them to particular...

The main aim of this study is to explain how institutional change, based on processes of democratization, governs the origin and diffusion of technological innovation across economies. This study suggests that institutional change, based on a progressive democratization of countries, is a...

Technology is profoundly reshaping international and domestic monetary and payment systems. Catalysts include the launch of Bitcoin in 2009, the announcement of Facebook’s Libra cryptocurrency proposal and China’s announcement of its Digital Yuan, both in 2019, and COVID-19 in 2020. The...