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Secure Hierarchical Deterministic Wallet Supporting Stealth Address, Xin Yin, Zhen Liu, Guomin Yang, Guoxing Chen, Haojin Zhu Sep 2022

Secure Hierarchical Deterministic Wallet Supporting Stealth Address, Xin Yin, Zhen Liu, Guomin Yang, Guoxing Chen, Haojin Zhu

Research Collection School Of Computing and Information Systems

Over the past decade, cryptocurrency has been undergoing a rapid development. Digital wallet, as the tool to store and manage the cryptographic keys, is the primary entrance for the public to access cryptocurrency assets. Hierarchical Deterministic Wallet (HDW), proposed in Bitcoin Improvement Proposal 32 (BIP32), has attracted much attention and been widely used in the community, due to its virtues such as easy backup/recovery, convenient cold-address management, and supporting trust-less audits and applications in hierarchical organizations. While HDW allows the wallet owner to generate and manage his keys conveniently, Stealth Address (SA) allows a payer to generate fresh address (i.e., …


When Will Cryptocurrency’S Winter Come To An End?, Singapore Management University Aug 2022

When Will Cryptocurrency’S Winter Come To An End?, Singapore Management University

Perspectives@SMU

With the price of Bitcoin and other cryptocurrencies dropping dramatically, what is in store for the digital asset market?


The Cryptocurrency Participation Puzzle, Ran Duchin, David H. Solomon, Jun Tu, Xi Wang Aug 2022

The Cryptocurrency Participation Puzzle, Ran Duchin, David H. Solomon, Jun Tu, Xi Wang

Research Collection Lee Kong Chian School Of Business

We show that ongoing zero portfolio weights in cryptocurrency are surprisingly difficult to generate in a standard Bayesian portfolio theory framework. With ten years of prior data, equity market investors would need very pessimistic priors on mean returns to justify never having bought cryptocurrency: -10.6% per month for Bitcoin, and -19.6% per month for a diversified portfolio of cryptocurrencies. Moreover, most priors that involve never purchasing cryptocurrency imply that investors should short cryptocurrency. Optimal absolute weights are generally small but non-trivial (1-5%), frequently positive, and fairly smooth despite returns being volatile. Under a wide range of priors, the certainty equivalent …


Cryptocurrencies: Now What?, Wei Zhou, Fathurraman Jul 2022

Cryptocurrencies: Now What?, Wei Zhou, Fathurraman

Perspectives@SMU

New use cases could lead to wider adoption, but regulation and the transition to Web3 must be handled first


Regulating The Fintech Space, Jing Yang, Patrick Thng, Zhu Juntao, Kell Jay Lim Jul 2022

Regulating The Fintech Space, Jing Yang, Patrick Thng, Zhu Juntao, Kell Jay Lim

Perspectives@SMU

China gets to grips with fintech but still frowns upon cryptocurrencies. Regulation, blockchain technology, and central bank digital currencies will be under the spotlight amidst the crypto crash


Is The Crypto World Having Its Own 2008 Lehman Brothers Moment?, Eric Lim Jun 2022

Is The Crypto World Having Its Own 2008 Lehman Brothers Moment?, Eric Lim

Perspectives@SMU

Cryptocurrency markets have tumbled in recent times due to the age-old story of greed, arrogance and disregard for responsibility, writes UNSW Business School’s Eric Lim


Coinbase Global Inc. Strategic Audit, Decker Bobin May 2022

Coinbase Global Inc. Strategic Audit, Decker Bobin

Honors Theses

Coinbase is a cryptocurrency exchange founded in the U.S during 2012 by Brian Armstrong and Fred Ehrsam. Coinbase’s application allows users to buy, sell, and exchange different cryptocurrencies on the open market. Cryptocurrencies are digital assets used as a medium to quickly transfer value, globally, without any middleman. Some cryptocurrencies have different technology than others, but all are based on blockchain, and cryptography. Blockchain technology allows transactions to be built into a chain that is forever accessible, hence the name “public ledger.” Cryptography is what ensures ultimate ownership, through seed phrases, and security through encryption. Coinbase has several large competitors …


Flight To Bitcoin, Yang Yu, Jinyuan Zhang Feb 2022

Flight To Bitcoin, Yang Yu, Jinyuan Zhang

Research Collection Lee Kong Chian School Of Business

This paper uncovers an overlooked motivation of Bitcoin investment: investors hold Bitcoin as an asset on which government authorities have limited influence. Consistent with this motivation, we document a flight-to-Bitcoin (FTB) phenomenon whereby local demand for Bitcoin increases with local economic policy uncertainties and Bitcoin ownership shifts from centralized exchanges to decentralized wallets amid such turbulence. FTB is driven by investors’ lack of confidence in government as FTB is stronger in countries where the confidence in government is low and corruption incidents surge. Finally, a comparison with safe-haven assets further differentiates FTB from flight-to-safety.


The Analysis Of The Roles Of Bitcoin, Ethereum, And Gold As Hedge And Safe-Haven Assets On The Indonesian Stock Market Before And During The Covid-19 Pandemic, Carla A. Wijaya, Maria Ulpah Jan 2022

The Analysis Of The Roles Of Bitcoin, Ethereum, And Gold As Hedge And Safe-Haven Assets On The Indonesian Stock Market Before And During The Covid-19 Pandemic, Carla A. Wijaya, Maria Ulpah

The Indonesian Capital Market Review

The uncertainty due to the COVID-19 outbreak has encouraged investors to look for value hedging instruments to minimize risk, which can be in the form of hedging assets or safe-haven assets. In response to it, this study aims to find out whether Bitcoin, Ethereum, and gold can behave as hedging and safe-haven assets before and amid the pandemic in Indonesia. The strategy is by observing the effects of volatility and return of Bitcoin, Ethereum, and gold on the Indonesian stock market. This study employed both quantile regression and simple linear regression models on data of daily closing price taken before …


Modeling The Impact Of Adding Cryptocurrency In A Portfolio, Ashley Pineault Jan 2022

Modeling The Impact Of Adding Cryptocurrency In A Portfolio, Ashley Pineault

Honors Theses and Capstones

This study examines the backgrounds of Bitcoin and Ethereum. How they came about, where they differ from one another in functions, and what investors believe will be a better cryptocurrency stock as an investment to include in an optimized portfolio. It will also study the impact of adding two leading cryptocurrencies, Bitcoin and Ethereum, into a hypothetical, optimal investment portfolio. Data collection includes the adjusted closing price of 30 diversified stocks from 2016 to 2021. Those adjusted closing prices are the beginning of determining the optimal portfolio for three separate portfolios. One has the Ethereum cryptocurrencies, the other has Bitcoin …


Should Cryptocurrency And Nft’S Be Used As Collateral?, John M. Helmanis Jan 2022

Should Cryptocurrency And Nft’S Be Used As Collateral?, John M. Helmanis

Honors Theses and Capstones

Nothing has captured the attention of modern finance quite like cryptocurrencies and non-fungible tokens (NFT), whether it’s the massive skyrocketing price or the next day's sudden drop wiping out millions of dollars seemingly overnight. This paper seeks to understand cryptocurrencies and NFT's position in modern finance in terms of collateral. Specifically, the question that will be answered is should cryptocurrencies and NFTs be used as collateral? This question has relevance because widespread use as collateral would signify validation as an asset class that holds value. Some cryptocurrency brokers are making loans backed by cryptocurrency, but currently, no major banks are …