Finanzwirtschaftliche Anwendungen der Blockchain-Technologie

Abstract

The blockchain technology was first implemented in 2009 as the basis of the cryptocurrency Bitcoin. The technology is said to be a disruptive technology that has the potential to significantly affect many areas of the economy. In this paper we provide a survey of the blockchain technology and its applications in finance. We focus on cryptocurrencies, smart contracts, initial coin offerings, the clearing and settlement of transactions in financial markets, and implications for the governance of exchange-listed firms.