Economists have long known that financial services have benefits for users by allowing them to smooth consumption, save for bulky purchases, etc. But the recognition of their importance even for people with relatively low incomes those earning one to two dollars a day, for instance is relatively...

This paper examines the potentially destabilizing effects of emerging digital currencies on the international foreign currency exchange. Specifically, it examines “Bitcoin,” a decentralized, partially anonymous, and largely unregulated digital currency that has become particularly popular in...

In this paper, we propose a framework that studies financial inclusion through e-payments. Financial inclusion means access to easy, safe and affordable credit and other financial services to socially and economically weaker sections. The study is based on secondary data as well as a detailed...

This is the first research report with specific technical focus on cryptographic ‘proof of work' in the context of virtual crypto-currencies such as Bitcoin. Situated somewhere along the trajectory between real money and quantum money, virtual crypto-currencies based upon ‘cryptographic...

This paper examines factors that influence prices of most common five cryptocurrencies such Bitcoin, Ethereum, Dash, Litecoin, and Monero over 2010-2018 using weekly data. The study employs ARDL technique and documents several findings. First, cryptomarket-related factors such as market beta,...