Zoran Skoda
economics of blockchain

Economics of blockchain studies the effects of distributed ledger technology and cryptocurrencies in particular at scale: when they can bring an added value for parts of their ecosystem and what are the mechanisms behind it. This is a different but overlapping with the topic of blockchain for business?. While both are, among the other topics, interested in determining which “business cases” and technological solutions can bring an added value (make sense economically), the latter is rather from a prism of a single entity, an individual or a firm. In business, it is not enough to know what can bring an added value, but also wheather the subject has the organizational, technical and financial ability and position within the ecosystem to realize it.

See also applications of blockchain, fintech

  • Kroll et al. The economics of Bitcoin mining, or Bitcoin in the presence of adversaries, 2013 pdf

  • Geneva report 2018

  • S. Shah et al. Unlocking economic advantages of blockchain, a guide for asset managers, 2018 report for Oliver Wyman and J P Morgan pdf news coverage

  • Distributed ledger technology in payments, clearing, and settlement (FED/DLT report 2016) pdf

  • uinta 3rd wave of financial intermediation

  • M. Rauchs et al. (Cambridge centre for alternative finance) Distributed ledger technology systems, a conceptual framework, 103 pp. Aug 2018 pdf

  • Emmanuelle Ganne, Can blockchain revolutionize international trade?, WTO report 2018, 163 pages, pdf

  • Bank of Canada, Project Jasper: Are distributed wholesale payment systems feasible yet? pdf 2017

  • Monetary Authority of Singapore, Project Ubin pdf

  • T. M. Griffoli et al. Casting light on central bank digital currencies, 39 pp., Int. Mon. Fond, Staff Discussion Notes 18/2008 link

  • Financial Stability Board, Crypto-asset markets: Potential channels for future financial stability implications, 21 pp. Oct 2018 link pdf

Blockchain is much about avoiding intermediaries. However, it is important to understand that the financial intermediation has its reasons, as known from classical theory

  • Douglas W. Diamond, Financial intermediation and delegated monitoring, Review of Economic Studies 51(3) 393–414 (1984)

This work is heavily referred to in the early blockchain finance study

Stablecoins to avoid volatility

  • George Calle, Diana Barrero Zalles, Will businesses ever use stablecoins?, R3 consortium study, March 26, 2019 pdf (mainly targetted to US regulation)

Inefficiencies and attacks in decentralized markets

  • Iddo Bentov, Lorenz Breidenbach, Philip Daian, Steven Goldfeder, Ari Juels, Tyler Kell, Yunqi Li, Xueyuan Zhao, Flash Boys 2.0: frontrunning, transaction reordering, and consensus instability in decentralized exchanges arxiv/1904.05234

Last revised on July 15, 2019 at 15:48:39. See the history of this page for a list of all contributions to it.