Although there are many versions of blockchain technology today, it was first introduced in 2008 as the technology supporting Bitcoin, the first successful virtual currency system. Yet in and of itself, Blockchain technology is much more than the underpinning for Bitcoin (and other...

Blockchain, smart contracts and copyright management disruption. The article examines the differences between new, blockchain and smart contract-based private ordering regime and the fundamental components of copyright law, such as exceptions and limitations, the doctrine of exhaustion,...

This paper compares Initial Public Offerings (IPOs) with Initial Coin Offerings (ICOs) and explores their corresponding risks and limitations, with a view to analyse the extent to which the latter should be subject to the same regulatory framework as the former. After assessing the underlying...

This study investigates the economic implications of blockchain-based academic journals, proposed by the recent computer science literature, in which authors and referees are individually incentivized. We construct a model in which the journal publishes qualified papers under two types of...

The article analyzes the problems of the development of modern banking business in Russia in the context of the growing share of large banks in the market. The aim of the work is to determine the need for the introduction of new advanced technologies by small and medium banks in order to...

In this paper, we discuss the issue of blockchain security considering the matter in a perspective related to users’ education and habits, and to security as an attribute of a system as a whole. Throughout the document, we highlight how security can be put at stake by a nonchalant use and we...

Internet technology makes digital value transactions between anonymous individuals possible, but leaves unanswered the question of how to resolve disputes between unidentified parties. Blockchain dispute resolution platforms provide a response to this problem. In the social dispute resolution...

Permissionless blockchains require a protocol to generate consensus. Many prominent permissionless blockchains employ Proof-of-Work (PoW) for that purpose, but PoW possesses significant shortcomings. Various alternatives have been proposed. This paper provides the first formal economic model of...

This paper uses a partial equilibrium framework to prove that in the short-term, network hashrate shock affects average miner income through both transaction fee income and block reward income.Using Bitcoin blockchain data, we show that miner average transaction fee income goes in the opposite...

In this commentary, we argue that studies similar to Cennamo, Marchesi, and Meyer (2020) should distinguish four dimensions of control in blockchain governance, all of which could be more or less decentralized. For some of these dimensions, decentralization is likely beneficial, while for others...