Blockchain and Other Distributed Ledger Technologies in Finance

Gilles Hilary and Laura Xiaolei Liu ()
Additional contact information
Laura Xiaolei Liu: Peking University

A chapter in The Palgrave Handbook of Technological Finance, 2021, pp 243-268 from Springer

Abstract: Abstract Blockchain technology was developed as the technological underpinning of the first cryptocurrency, Bitcoin. Since then, the field of finance has been leading its adoption. In this chapter, we analyze recent developments in this process. We describe emerging applications, review the academic literature on the subject, and propose research questions that may interest academics, practitioners, and regulators. We review the issuance of crypto-assets. We start with cryptocurrencies (and their impact on monetary policy), move to initial coin offerings, and finally discuss the issuance of other crypto-assets that are backed by a wide range of underlying assets. We then analyze the post-issuance behavior of these crypto-assets. We explore market integrity, market efficiency, and market microstructure issues. Lastly, we consider the token economy with a special interest in the theory of the firm and industrial organization.

Keywords: Distributed ledger technologies; Blockchain; Bitcoin; Crypto-assets; Token economy; Fintech (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-65117-6_10

Ordering information: This item can be ordered from
http://www.springer.com/9783030651176

DOI: 10.1007/978-3-030-65117-6_10

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().