FINANCIAL INSTRUMENTS IN CAP 2020+

Capability-Based Financial Instruments

Every novel cooperative arrangement of mutually suspicious parties interacting electronically — every smart contract — effectively requires a new cryptographic protocol. However, if every new contract requires new cryptographic protocol design, our dreams of cryptographically enabled electronic commerce would be unreachable. Cryptographic protocol design is too hard and expensive, given our unl...

Financial Instruments in Recommendation Mechanisms

ACCOUNTING FOR FINANCIAL INSTRUMENTS FOR BANKS Joint Working Group of Banking Associations on Financial Instruments

OpenPGP-Based Financial Instruments and Dispute Arbitration

In this paper, we present some guidelines for implementing various financial instruments for the purposes of credit and payment, including protocols for commercial transactions, dispute resolution, and establishing credit reputation. We strive to employ only widely used, standardized cryptography and keep the proposed procedures as simple as possible on the conceptual level. Also, we want all t...

Prices of financial instruments with stochastic volatility

This interim draft represents work in progress. It is submitted for discussion purposes at the Aggregation of Opinions conference sponsored by the Cowles Foundation, Yale University, September 15–17, 2006.