We provide a model of an endowment economy with two competing, but intrinsically
worthless currencies (Dollar, Bitcoin). Dollars are supplied by a central bank to achieve its …

We offer a general equilibrium analysis of cryptocurrency pricing. The fundamental value of
the cryptocurrency is its stream of net transactional benefits, which depend on its future …

We analyze a two-country economy with complete markets, featuring two national currencies
as well as a global (crypto) currency. If the global currency is used in both countries, the …

In this paper, we empirically analyse the performance of five gold-backed stablecoins during
the COVID-19 pandemic and compare them to gold, Bitcoin and Tether. In the digital assets' …

After remaining close to 1 US Dollar since its inception in November 2020, the algorithmic
stablecoin UST crashed in the two weeks of May 9th to May 15th, 2022, leading to a price …

Bitcoin was created in 2008 to serve as an alternative payment mechanism for both the
under-banked and un-banked, or those in regions where the formal financial system suffers …

Bitcoin's main innovation lies in allowing a decentralized system that relies on anonymous,
profit-driven miners who can freely join the system. We formalize these properties in three …

Küresel bir fenomen olan karapara aklama, suçluların uyuşturucu kaçakçılığı, terörizmin
finansmanı, yolsuzluk ve vergi kaçakçılığı gibi mali suç faaliyetleriyle ilişkili olması nedeniyle …

We survey a growing field studying aspects of finance that are potentially illegal, illicit, or
immoral. Some of the literature is investigative in nature to uncover malfeasance that is …

Conditional payments allow the transfer of money only when pre-defined rules hold.
Example uses could include welfare payments, employee expenses, insurance payouts, or …