We propose a taxonomy of cybercrime on the Ethereum blockchain and examine how cybercrime impacts victims' risk-taking and returns. Our difference-in-differences analysis of a sample of victims and matched non-victims suggests that victims increase their long-term total risk-taking and earn...

Over the last few decades, advances in transportation and production technology, in conjunction with economic globalization and the emergence of multinational corporations, have consolidated fragmented production processes into long and complex supply chains across jurisdictions. While there are...

Financial services built on blockchains are often called decentralized finance (DeFi) protocols. Blockchain banks are important players in the DeFi ecosystem and can pose systemic risks just like their traditional counterparts. In this paper, we develop a systemic risk measure based on the...

In the modern era like today where technological developments are becoming more rapid, many people have used technology in their daily activities. Etymologically, technology comes from the word technologia (Greek), "techno", which means expertise and "logia", which means knowledge. While in...

The core premise of permissionless blockchains is their reliable and secure operation without the need to trust any individual agent. At the heart of blockchain consensus mechanisms is an explicit cost (whether work or stake) for participation in the network and the opportunity to add blocks to...

Many new blockchain applications (e.g., layer-2 scaling solutions, proof-of-stake layer-1 chains, and cross-chain bridges, etc.) adopt an “optimistic” design, that is, the system proceeds as if all participants are well-behaving, presumably sustained by some “stake-and-slash” mechanisms....

In this chapter, we investigate and review how sustainable development can be facilitated and accelerated by blockchain technology through the adoption of renewable and clean energy and reduction of greenhouse gas emissions. We first review the fundamentals and unique features of blockchain...

This paper investigates the alignment of existing securities regulations with the emerging landscape of crypto-tokens and blockchain technology. By examining the features of these digital assets, including decentralization, consensus mechanisms, and programmability, we analyze how they interact...

Recently, blockchain technology has been introduced in multiple sectors and industries. This technology is currently stimulating a broader process of social and industrial transformation impacting several potential areas of adoption (e.g., payments, tracking and tracing solutions, authenticity)....