Little over a decade has passed since Blockchain gave birth to its prodigy Bitcoin, but Bitcoin despite all the hype (which was referred to as “big bang” by many) failed to become a simple (stable) global crypto-currency for everyday life to enable users worldwide to purchase...

The design of Bitcoin is closely related to gold which has led to the idea that Bitcoin has gold-like features such as being a store of value and a safe haven. However, given Bitcoin's extreme volatility investors may rather need a safe haven against Bitcoin. We hypothesize that stablecoins...

This paper provides a systematic review of the literature on key matters related to the popular cryptocurrency Bitcoin. The key motivation of this paper is to provide a review of existing literature and also to understand the underlying principle of this digital currency from the economic and...

Mobile payment generally refers to transactions made through the applications of a portable electronic gadget without the transfer of cash. As one of the most disruptive technologies for finance, mobile payment has been rapidly transforming the traditional financial industry. While it brings...

We utilize the introduction of a mobile payment technology by the largest bank in Singapore in 2017 to study how mobile payment technology reshapes economic activities and stimulates business creation. After the introduction, business-to-consumer industries witnessed a higher growth rate of...

Bitcoin is the oldest and most widely established cryptocurrency network with the highest market capitalization among all cryptocurrencies. Although bitcoin (with lowercase b) is increasingly viewed as a digital asset belonging to a new asset class, the Bitcoin network (with uppercase B) is a...

We discuss the pros of adopting government-issued digital currencies as well as a supranational digital iCurrency. One such pro is to get rid of paper money (and coinage), a ubiquitous medium for spreading germs, as highlighted by the recent coronavirus outbreak. We set forth three policy...

Transaction fees in the bitcoin system work differently from those in conventional payment systems due to the design of the bitcoin mining algorithm. In particular, transaction fees and transaction volume in the bitcoin system increase whenever the network is congested, and our VAR results...

The advent of stablecoins offers new and innovative ways to improve financial inclusion, reduce transaction costs, and increase the efficiency of the global financial system. The following paper explores the assets and process necessary for creating a central bank digital currency (CBDC) on the...

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...