Blockchain Papers

Giovanni Angelini, Silvia Emili

No abstract is available for this record.

Hans Byström, Dominika Krygier

No abstract is available for this record.

David Ardia, Keven Bluteau, Maxime RRede

No abstract is available for this record.

Julia Reynolds, Leopold SSgner, Martin Wagner, Dominik Wied

This paper applies recently developed procedures to monitor and date so-called "financial marketdislocations", defined as periods in which substantial deviations from arbitrage parities take place. In particular, we focus on deviations from the triangular arbitrage parity for exchange rate triplets from a cointegration perspective. Due to increasing attention on and importance of mispricing in the market for cryptocurrencies, we include the cryptocurrency Bitcoin in addition to fiat currencies. We do not find evidence for substantial deviations from the triangular arbitrage parity when only traditional fiat currencies are concerned, but document significant deviations from triangular arbitrage parities in the newer markets for Bitcoin. We confirm the importance of our results for portfolio strategies by showing that a currency portfolio that trades based on our detected break-points outperforms a simple buy-and-hold strategy.

Christian Dinges

No abstract is available for this record.

Danny Yuxing Huang, Kirill Levchenko, Alex C. Snoeren

No abstract is available for this record.

Lee Reiners

No abstract is available for this record.

Jasmina Smgic Miladinovic, Miladinovic, Jasmina Smgic

The appearance of cryptocurrency marks the arrival of a new unlimited global system with no intermediaries and costly intercontinental transactions. Digital money would make it possible for us to have significantly quicker and cheaper transactions, which, along with present technology, is considered inevitable in the future. This paper includes three topics and deals with the bitcoin phenomenon and its influence on economic growth. The paper presents the bitcoin technology, its advantages and some risks to which the system’s users are exposed. Bitcoin represents an exceptional technical achievement, and specific features of bitcoin present a particular challenge for its users.

Aleksandar Đorđević, Dordevic, Aleksandar

During the history there have been different examples of incorporating technology into economics. Some of them include SWIFT, e-banking, mobile payments, and many more. Technology had to be commercialized and put into service of facilitating economic processes. International finances underwent the process of development too. With the globalization process national economies became more interconnected and dependent from each other. Individuals demanded a faster and more convenient way to make international payments. Internet trade is on the rise, social media rule the contemporary world, and then appears the inception of so-called crypto currencies. The most famous is Bitcoin. Where lays its place in the economic science? It looks like that Bitcoin is going towards decentralization of the monetary system known by now. The goal of this paper is to raise the awareness of the changes happening in economy and in economic science.

Elizaveta Lebedeva

No abstract is available for this record.

Sofia Anyfantaki, Stelios Arvanitis, Nikolas Topaloglou

No abstract is available for this record.

Dominique Guégan, Marius Frunza

The aim of this research is to explore the econometric features of Bitcoin-USD rates. Various non-Gaussian models are fitted to daily returns in order to underline the unique characteristics of Bitcoin when compared to other more traditional currencies. Market efficiency hypothesis is tested further, and the main reasons for breaches in efficiency are discussed. The main goal of the paper is to assess the presence of bubble effects in this market with customized tests able to detect the timing of various bubbles. The results show that the Bitcoin prices had two episodes of rapid inflation in 2013 and 2017.

Mohammad Jafarinejad, Hamid Sakaki

No abstract is available for this record.

Afees A. Salisu, Aviral Kumar Tiwari, Ibrahim D. Raheem

This study exploits several conditional heteroskedasticity models with various supported distributions in order to find the best distribution as well as the best GARCH-type model that may be used to model volatility of Bitcoin returns. Innovatively, the study is able to establish that pre-testing the residuals of Bitcoin returns for the best distribution can help to identify the appropriate distribution when modelling with GARCH-type models regardless of the data frequency.

Nicholas McWharter

The worlds first successful crypto currency (Bitcoin) has gained a lot of attention both positive and negative. The main issue keeping Bitcoin from being fully accepted by the public is its high volatility and unpredictability. This research provides an empirical analysis that offers insights into the factors that cause Bitcoin to maintain a high price volatility. The primary goal of the research is to determine whether or not the media plays a role on Bitcoin volatility. Our model uses ordinary least squares regression analysis to support the findings of previous research that generally uses GARCH models. The results show that Bitcoin volatility is primarily correlated with Google trends search data. Furthermore we find that negative news announcements have a significant positive correlation with Bitcoin volatility; whereas, economic health indicator variables yield insignificant results. Although our analysis suggest Bitcoin is an unsafe investment tool, we propose a number of future research possibilities that should enhance our understanding of crypto currencies so that they can eventually be utilized to their fullest potential.

Thanos Andrikopoulos, Robert Hudson, Saeed Akbar, Darius Saftoiu

No abstract is available for this record.

Anton Kajtazi, Andrea Moro

No abstract is available for this record.

Min Luo, Vasileios E. Kontosakos, Athanasios A. Pantelous, Jian Zhou

No abstract is available for this record.

Takahiro Hattori, Ryo Ishida

No abstract is available for this record.

Gloria Yang Yu, Jinyuan Zhang

No abstract is available for this record.

Ioannis Antoniadis, Nikolaos Sariannidis, Stamatis Kontsas

No abstract is available for this record.

Stefano Colucci

No abstract is available for this record.

Masafumi Nakano, Akihiko Takahashi, Soichiro Takahashi

No abstract is available for this record.

Michael S. Pagano, John Sedunov

No abstract is available for this record.