Cryptocurrencies: market analysis and perspectives

Giudici, G., Milne, A. and Vinogradov, D. (2020) Cryptocurrencies: market analysis and perspectives. Journal of Industrial and Business Economics, 47, pp. 1-18. (doi: 10.1007/s40812-019-00138-6)

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The papers in this special issue focus on the emerging phenomenon of cryptocurrencies. Cryptocurrencies are digital financial assets, for which ownership and transfers of ownership are guaranteed by a cryptographic decentralized technology. The rise of cryptocurrencies’ value on the market and the growing popularity around the world open a number of challenges and concerns for business and industrial economics. Using the lenses of both neoclassical and behavioral theories, this introductory article discusses the main trends in the academic research related to cryptocurrencies and highlights the contributions of the selected works to the literature. A particular emphasis is on socio-economic, misconduct and sustainability issues. We posit that cryptocurrencies may perform some useful functions and add economic value, but there are reasons to favor the regulation of the market. While this would go against the original libertarian rationale behind cryptocurrencies, it appears a necessary step to improve social welfare.

Item Type:Articles
Glasgow Author(s) Enlighten ID:Vinogradov, Professor Dmitri
Authors: Giudici, G., Milne, A., and Vinogradov, D.
College/School:College of Social Sciences > Adam Smith Business School > Accounting and Finance
Journal Name:Journal of Industrial and Business Economics
ISSN (Online):1972-4977
Published Online:17 September 2019
Copyright Holders:Copyright © Associazione Amici di Economia e Politica Industriale 2019
First Published:First published in Journal of Industrial and Business Economics 47:1-18
Publisher Policy:Reproduced in accordance with the publisher copyright policy

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