Decentralised smart contracts represent the next step in the development of protocols that support the interaction of independent players without the presence of a coercing authority. Based on protocols à la BitCoin for digital currencies, smart contracts are believed to be a potentially enabling technology for a wealth of future applications. The validation of such an early developing technolo...

Temzelides and Williamson present a model of private currency issuance to study the effect of clearing arrangements on the prices at which private currencies trade, on the volume of exchange, and on welfare. Their findings hinge on three factors: the location of the issuers relative to the area in which their currencies circulate, whether there is an arrangement for clearing nonlocally issued c...

We develop the first basic Operational Risk perspective on key risk management issues associated with the development of new forms of electronic currency in the real economy. In particular, we focus on understanding the development of new risks types and the evolution of current risk types as new components of financial institutions arise to cater for an increasing demand for electronic money, ...

In this paper we, we begin by exploring the theoretical implications of a non-naturalistic, iconic percpetion of Money as both media and technological artifact embedded with affection. From Marx to Weber but also Simondon, Deleuze and Derrida, we discuss the future of Money from a conceptual and logical perspective taking digital emancipation as the new value frontier for human development. Bas...

It is assumed that under suitable economic and information-theoretic conditions, market exchange rates are free from arbitrage. Commodity markets in which trades occur over a complete graph are shown to be trivial. We therefore examine the vector space of no-arbitrage exchange rate ensembles over an arbitrary connected undirected graph. Consideration is given for the minimal information for det...

Bitcoin is a digital currency and payment system based on classical cryptographic technologies which works without a central administrator such as in traditional currencies. It has long been questioned what the impact of quantum computing would be on Bitcoin, and cryptocurrencies in general. Here, we analyse three primary directions that quantum computers might have an impact in: mining, securi...

Despite major structural shifts in the international monetary system over past six decades, US dollar remains dominant reserve currency. Using a newly compiled database of individual economies’ holdings by currency, this paper finds that financial links have been an increasingly important driver currency configurations since global crisis, particularly for emerging market and developing economi...

This paper explores the development, applications, and regulatory issues of Web3.0 as next generation internet technology. is based on technologies such distributed computing, blockchain, artificial intelligence, smart contracts, it features decentralization, high security. introduces characteristics, technical architecture, key Web3.0, well its applications future development trends in areas d...

The use of digital currency or cryptocurrencies has been common since 2018. However, its as an investment instrument is different from the conventional recognized by state, this because a cryptocurrency appeared number organizations/companies and value does not depend on economic condition country, but status company/issuer currency. Difficulty predicting liability growth creates computational ...

Abstract This article analyses the justifications for creation of central bank digital currencies – CBDCs and their anticipated features with aim looking at them from two different somewhat opposing perspectives. These perspectives define broad historical logical currents that emerged in Banking School versus Currency debates. We are going to investigate which extent can concept CBDC be embedde...