Cryptofinance A New Currency for a New Economy

Description

Contents Preface About the Editors About the Contributors Chapter 1 Cryptocurrencies: Concept and Current Market Structure 1. A Brief History of Cryptocurrencies 1.1 The Precursors of Bitcoin 1.2 The Emergence of Bitcoin 2. The Mechanisms Behind Cryptocurrencies 2.1 Transaction Path and Wallets 2.2 Blockchain 2.3 Mining 2.4 Vulnerability to Cyber Attacks 3. The Governance of Cryptocurrencies 3.1 Governance within the Blockchain 3.1.1 The centralization of the blockchain 3.1.2 Verification mechanisms 3.2 Governance of the Blockchain 4. Conclusion Acknowledgments References Chapter 2 The Impact of Coronavirus Pandemic on Bitcoin: A Literary Overview 1. Introduction 2. Theoretical Framework 2.1 Cryptocurrency 2.2 Bitcoin 2.3 Advantages of Bitcoin 3. Bitcoin Classification: Advantages for the Investor 3.1 Hedge 3.2 Portfolio Diversification 3.3 Safe Haven 3.4 Externalities: Historical Incidences 4. Coronavirus (COVID-19) 4.1 Coronavirus and Financial Markets’ Volatility 4.2 Hedging and Safe haven Potentials of Bitcoin during the Coronavirus Outbreak 5. Conclusion References Chapter 3 Cryptocurrencies and Inequality 1. Introduction: Cryptoanarchism’s Shadow 2. Testing for Inequality in Cryptocurrencies 3. Discussion: Wherefore Cryptoanarchism? 4. Conclusion References Chapter 4 Towards a Better Understanding of the Resistance Factors of Cryptocurrency Spread 1. Introduction 2. What is Cryptocurrency? 2.1 Consumer Psychology 2.1.1 Individual factors 2.1.2 The collective and organizational factors 2.1.3 Functional barriers and perceived difficulty 2.1.4 The need for human interaction 2.1.5 The perceived risk 2.2 National Culture 2.2.1 Power distance 2.2.2 Uncertainty avoidance 2.2.3 Collectivism versus individualism 2.2.4 Masculinity versus feminity 2.2.5 Long-term versus short-term orientation 2.3 Monetary Policy 2.4 Regulation as an Inhibitory Factor to Cryptocurrency Use 2.4.1 The need for regulation 2.4.2 Regulation’s risk 2.4.3 The perceived regulation risks around the world 3. Conclusion References Chapter 5 Tokenization Disrupts ETFs 1. The Old and New Worlds of Asset Management 1.1 Exchange-traded Funds — Challenges of a Passive Investment 1.2 Costs of ETFs 1.3 Issues of ETFs 1.4 Crypto-asset Management 1.5 Tokenization of Existing Assets 1.6 Trading of Token 1.7 Custody of Tokens 1.8 Implications of Custody 1.9 Tokens in Comparison to ETFs 2. Conclusion References Chapter 6 Oversight and Regulation of Cryptocurrencies: BitLicense 1. Introduction 2. BitLicense: An Overview 3. Impact and Critique 4. A Public Value Perspective on BitLicense 5. Conclusion References Chapter 7 Cryptocurrencies: Key Risks and Challenges 1. Introduction 2. Technology Risk 3. Fraud/Theft Risk 4. Cryptocurrency Regulations and Legal Risk 5. Market Risk 6. Liquidity Risk 7. Cryptocurrency Market at the Time of the COVID-19 Pandemic 8. Conclusion 8.1 But What Comes Afterwards? References Chapter 8 Factors Influencing Individual and Organizational Adoption of Cryptocurrencies 1. Introduction 2. Theoretical Background 2.1 Cryptocurrencies’ Adoption at the Individual Level 2.1.1 Relative advantage 2.1.2 Perceived ease of use 2.1.3 Image 2.1.4 Visibility 2.1.5 Compatibility 2.1.6 Result demonstrability 2.1.7 Voluntariness 2.1.8 Trialability 2.1.9 Personal innovativeness 3. Organizational Adoption of Cryptocurrencies 3.1 Technology–Organization–Environment (TOE) Framework 3.2 Factors Affecting Organizational Adoption of Cryptocurrencies 3.2.1 Technological factors 3.2.2 Organizational factors 3.2.3 Environmental factors 4. Conclusion References Chapter 9 Crypto-asset Valuation: A Review and Analysis of Current Methods 1. Introduction 2. Fundamentals of Crypto-assets 2.1 Crypto-assets: An Introduction 2.2 Tokenomics 2.3 Literature Review 3. Crypto-asset Valuation: The General Framework 4. Crypto-asset Valuation: The Income Approach 4.1 The Crypto Quantity Theory of Money (QTM) 4.2 Crypto J-Curve Methodology 4.3 Network Model and Metcalfe’s Law 5. Crypto-asset Valuation: The Market Approach 5.1 Network Value-to-Transaction Ratio (NVT) 5.2 Price-to-Utility Ratio 6. Crypto-asset Valuation:The Cost Approach 7. Conclusion References Chapter 10 The Nexus between Cryptocurrencies, Currencies and Commodities: A Primer 1. Introduction 2. The Nexus 2.1 Cryptocurrencies Versus Currencies 2.2 Cryptocurrencies Versus Hard Commodities 3. Empirical Research Investigating the Nexus 3.1 Returns 4. Conclusion References Index