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Almosova, Anna - 2018

The recent emergence of blockchain-based cryptocurrencies has received a considerable attention. The growing acceptance … of cryptocurrencies has led many to speculate that the blockchain technology can surpass a traditional centralized … monetary system. However, no monetary model has yet been developed to study the economics of the blockchain. This paper builds …

Persistent link: https://www.econbiz.de/10011892007

Bitcoin, Blockchain, and Distributed Ledgers : Between Hype and Reality

Ametrano, Ferdinando M. - 2018

Bitcoin is the most successful cryptocurrency and one of the best types of private money ever. The blockchain … peculiarities. Notarization and trust anchoring are presented as the only relevant non-monetary blockchain applications. Finally …

Persistent link: https://www.econbiz.de/10012935626

Is Bitcoin a Decentralized Payment Mechanism?

Luther, William J. - 2020

We make a distinction between centralized, decentralized, and distributed payment mechanisms. A centralized payment mechanism processes a transaction using a trusted third party. A decentralized payment mechanism processes a transaction between the parties to the transaction. A distributed...

Persistent link: https://www.econbiz.de/10012844882

Designing New Money - The Policy Trilemma of Central Bank Digital Currency

Bjerg, Ole - 2017

The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with existing forms of money. This paper evaluates three different scenarios for the implementation of CBDC in terms of their monetary policy...

Persistent link: https://www.econbiz.de/10012954346

2017 Global Cryptocurrency Benchmarking Study

Hileman, Garrick - 2017

-public data from more than 100 cryptocurrency companies and over 30 individual cryptocurrency miners in 38 countries around the …The first global cryptocurrency benchmarking study presents a systematic and comprehensive picture of a rapidly … world via secure web-based questionnaires, capturing an estimated 75 per cent of the cryptocurrency industry. The study …

Persistent link: https://www.econbiz.de/10012956785

Cryptocurrencies, Network Effects, and Switching Costs

Luther, William J. - 2018

popular cryptocurrency to date — serves to illustrate. After briefly surveying episodes of successful monetary transition, I …

Persistent link: https://www.econbiz.de/10012938422

Is Bitcoin Money? (And What that Means)

Hazlett, Peter K. - 2019

In a recent article, Yermack (2015) argues that bitcoin is not money because it functions poorly as a medium of exchange, unit of account, and store of value. We offer a more conventional view. We maintain that the standard approach classifies an item as money if and only if it functions as a...

Persistent link: https://www.econbiz.de/10012870614

What Is New about Cryptocurrencies? A Visual Analysis

Kavuri, Anil Savio - 2019

In the context of recent developments with cryptocurrencies, as well as the potential rise of central bank digital currencies, we present a new visualisation of money. Using three novel figures, we distinguish between the relevant mechanisms, technologies, recordkeeping, and transactions of...

Persistent link: https://www.econbiz.de/10012860773

Economic Aspects of Bitcoin and Other Decentralized Public-Ledger Currency Platforms

Evans, David S. - 2014

introduction of the blockchain concept by the founder of Bitcoin in 2008. An important element of these public ledger platforms is …

Persistent link: https://www.econbiz.de/10013055525

Getting Off the Ground : The Case of Bitcoin

Luther, William J. - 2018

By declaring an item legal tender or making it publicly receivable, governments might generate sufficient demand to determine the medium of exchange. How do private actors launch a new currency? There are two views in the literature. The first requires offering an item with use value to some...

Persistent link: https://www.econbiz.de/10012933288

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