Decentralized architectures are gaining popularity as a way to protect one’s privacy against the ubiquitous surveillance of states and corporations. Yet, in spite of the obvious benefits they provide when it comes to data sovereignty, decentralized architectures also present certain...

This chapter uses economic theory to explore the implications of the blockchain technology on the future of banking. We apply an economic analysis of blockchains based on both new institutional economics and public choice economics. Our main focus is on the economics of why banks exist as...

Claims blockchain is more than just ICT innovation, but facilitates new types of economic organization and governance. Suggests two approaches to economics of blockchain: innovation-centred and governance-centred. Argues that the governance approach — based in new institutional economics and...

Virtual communities have proliferated in recent years – a phenomenon triggered by technological developments and by the increased use of the internet and considered one of the most powerful innovations in finance in 500 years. After an initial enthusiastic phase, a trend change is underway....

Mobile App based market is rapidly becoming popular. As such, it is an opportunity to bring hassle-free transactions to people's mobile phones. But the multi-billion dollar App market pays a great amount of money in transaction costs and banking services. This paper provides a solution by...

This paper explains the functioning of “blockchain technology” and critically assesses its potential role in improving services in banking, contracts, and database systems. Comparing blockchain to the current best practice technology in these fields reveals several barriers to successful...

Several international electronic financial exchanges have begun to announce they will explore the adoption of blockchain technology in their trade processing and reporting for execution and clearing. Therefore, in this work we will begin by providing a detailed discussion and overview of the new...

Clearing and settlement of international securities transactions for indirectly held securities presents major challenges as the immense potential of blockchain technology creates the possibility of a tamper-proof consolidated audit trail, of almost infinitesimal transaction cost, and increased...