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Articles 1 - 30 of 51
Full-Text Articles in Business
Young Adults Entering The Economy, Connor Whelan, Gabriel Bell, Christian Brantley, Javarius Seabrooks
Young Adults Entering The Economy, Connor Whelan, Gabriel Bell, Christian Brantley, Javarius Seabrooks
ENGL 1102 Showcase
This anthology is written with the hopes of educating the public about the current state of the economy and how Generation Z is entering it. This paper goes over the basics of their financial behavior, the negative affects of education monopolies, financial schemes, and new technology that Gen Z has brought to the table.
On The Effects Of Information Asymmetry In Digital Currency Trading, Kwansoo Kim, Robert John Kauffman
On The Effects Of Information Asymmetry In Digital Currency Trading, Kwansoo Kim, Robert John Kauffman
Research Collection School Of Computing and Information Systems
We report on two studies that examine how social sentiment influences information asymmetry in digital currency markets. We also assess whether cryptocurrency can be an investment vehicle, as opposed to only an instrument for asset speculation. Using a dataset on transactions from an exchange in South Korea and sentiment from Korean social media in 2018, we conducted a study of different trading behavior under two cryptocurrency trading market microstructures: a bid-ask spread dealer's market and a continuous trading buy-sell, immediate trade execution market. Our results highlight the impacts of positive and negative trader social sentiment valences on the effects of …
Public Regulation Urgency In Cryptocurrency Based On Administrative Reform For Bali Sustainable Tourism, Ni W. Widhiasthini, Nyoman S. Subawa, Melissa Fong Emmerson, Ni K. W. Yanti, Made S. M. Utami, Putu S. A. J. Kusuma, Putu P. Dewi, Kadek J. A. Sudharma
Public Regulation Urgency In Cryptocurrency Based On Administrative Reform For Bali Sustainable Tourism, Ni W. Widhiasthini, Nyoman S. Subawa, Melissa Fong Emmerson, Ni K. W. Yanti, Made S. M. Utami, Putu S. A. J. Kusuma, Putu P. Dewi, Kadek J. A. Sudharma
Research outputs 2022 to 2026
This research aimed at contributing on the urgency of formulating public regulation about cryptocurrency based on administrative reform, providing critical thinking about the use of cryptocurrency on economic activity in supporting sustainable tourism. Instead of focusing on economic, it focuses on the public administration to formulate the regulation of cryptocurrency circulation in Indonesia. It was underlying on descriptive qualitative method with postpositivism approach. It was conducted in Bali as the world tourism destination, and relied on tourism. The distribution of cryptocurrency is banned in Indonesia including Bali, regulated on Law No. 7 year 2011 about currency. It found the hegemony …
In Search Of Cryptocurrency Failure, Donglian Ma, Jun Tu, Zhaobo Zhu
In Search Of Cryptocurrency Failure, Donglian Ma, Jun Tu, Zhaobo Zhu
Research Collection Lee Kong Chian School Of Business
This paper explores the determinants of cryptocurrency failure and the pricing of crypto failure risk. We document different significant market- and characteristic-based predictors for coin and token failures. The introduction of Bitcoin futures and the outbreak of COVID19 affect the importance of many predictors. Investors require extra return for bearing high failure risk of crypto assets. The return difference across high and low failure risk crypto assets is not explained by the market, size and momentum factors in the cryptocurrency market. Finally, investors benefit from diversifying into high failure risk crypto assets that is little correlated with the stock market.
The Economics Of Financial Scams: Evidence From Initial Coin Offerings, Kenny Phua, Bo Sang, Chi Shen Wei, Yang Yu
The Economics Of Financial Scams: Evidence From Initial Coin Offerings, Kenny Phua, Bo Sang, Chi Shen Wei, Yang Yu
Research Collection Lee Kong Chian School Of Business
We examine the economics of financial scams by analyzing the market for initial coin offerings (ICOs). Using data snapshots of 5,873 ICOs, we find that irregularities in ICO characteristics across listing websites predict higher scam risk and are likely intentional. These patterns are consistent with a model where malicious issuers maximize profits by using irregularities to screen for naïve investors. Almost half of the ICOs in our sample may be scams, amounting to more than U.S. $6 billion in losses. Our results draw attention to the frequent use of screening mechanisms in financial scams.
The Future Of Cryptocurrency And Blockchain Technology In Finance, Wanyi Wong, Alan @ Ali Madjelisi Megargel
The Future Of Cryptocurrency And Blockchain Technology In Finance, Wanyi Wong, Alan @ Ali Madjelisi Megargel
Research Collection School Of Computing and Information Systems
Cryptocurrencies have been all the rage in recent years, with many being drawn to their appeal as speculative investment assets. Its proponents also champion the secure and decentralised nature of the technology it is based on, called the blockchain. Given the secure nature of blockchain technology, the idea of adopting cryptocurrencies as legal tender currency has also been mooted and experimented with – with the most famous example being the Central American nation of El Salvador’s bold move to adopting the cryptocurrency Bitcoin as legal tender in September 2021. In theory, this would provide a solution to the high transaction …
Evolve Path Tracer: Early Detection Of Malicious Addresses In Cryptocurrency, Ling Cheng, Feida Zhu, Yong Wang, Ruicheng Liang, Huiwen Liu
Evolve Path Tracer: Early Detection Of Malicious Addresses In Cryptocurrency, Ling Cheng, Feida Zhu, Yong Wang, Ruicheng Liang, Huiwen Liu
Research Collection School Of Computing and Information Systems
With the boom of cryptocurrency and its concomitant financial risk concerns, detecting fraudulent behaviors and associated malicious addresses has been drawing significant research effort. Most existing studies, however, rely on the full history features or full-fledged address transaction networks, both of which are unavailable in the problem of early malicious address detection and therefore failing them for the task. To detect fraudulent behaviors of malicious addresses in the early stage, we present Evolve Path Tracer, which consists of Evolve Path Encoder LSTM, Evolve Path Graph GCN, and Hierarchical Survival Predictor. Specifically, in addition to the general address features, we propose …
Stopping Runs In The Digital Era, Luís C. Calderón Gómez
Stopping Runs In The Digital Era, Luís C. Calderón Gómez
Articles
Bank runs, and the financial crises they catalyze and amplify, are incredibly costly-to individuals, families, society, and the economy writ large. Banking regulation has, for the most part, protected us from traditional bank runs for the last ninety years. However, as we saw in the devastating 2008 financial crisis, bank runs can still occur in lightly regulated or opaque segments of the financial sector.
The recent crypto market downturn dramatically forewarned regulators of the potential and significant risks that novel assets could pose to our financial system's stability. In particular, a novel, systemically important asset (stablecoins) revealed its vulnerability to …
The Financialization Of Cryptocurrencies, Lei Huang, Tse-Chun Lin, Fangzhou Lu, Jian Sun
The Financialization Of Cryptocurrencies, Lei Huang, Tse-Chun Lin, Fangzhou Lu, Jian Sun
Research Collection Lee Kong Chian School Of Business
We show that change in Grayscale Bitcoin Trust premium is the single most significant predictor of Bitcoin daily return. This sentiment measure is similar to the closed-end fund discount measure as in Baker and Wurgler (2006), but more likely to reflect the excess demand from traditional investors than from blockchain specialists. Although there is a substantial variation in Bitcoin price quotes worldwide, this Grayscale premium and discount predict Bitcoin daily return for the most liquid Bitcoin exchanges. Using K-means clustering and LDA analysis, we find that this predictability is especially significant when there is a large variation in bullish and …
Blockchain, Cryptos And Nfts In The Gaming Industry: A Tale Of Two Worlds, Harsheen Anand, Lakshay Kumar, Diane-Laure Arjalies
Blockchain, Cryptos And Nfts In The Gaming Industry: A Tale Of Two Worlds, Harsheen Anand, Lakshay Kumar, Diane-Laure Arjalies
Business Publications
The gaming industry is at a crossroads with Web 3.0. The ever-growing gaming industry is at a tipping point of mass blockchain adoption. Based on public and secondary data analysis, we show that the gaming industry is shifting toward Web 3.0, which could significantly affect its practices and business models. Aligned with this change, big gaming companies have launched new technologies associated with Web 3.0, such as NFTs and cryptocurrencies. The sector’s reaction could indicate the society’s response to including cryptocurrencies and NFTs in an increasing number of industries. Reluctant North American players. North American players have been unwilling to …
Lohasian’S Cryptocurrency Adoption: Technology Acceptance Model In The Extended Theory Of Planned Behavior, Sooyeon Choi
Lohasian’S Cryptocurrency Adoption: Technology Acceptance Model In The Extended Theory Of Planned Behavior, Sooyeon Choi
Association of Marketing Theory and Practice Proceedings 2023
Economic growth is being fueled by the widespread acceptance of cryptocurrencies in numerous industries. LOHAS (Lifestyle of Health and Sustainability) is a growing consumer group that is concerned with sustainability and well-being. They are early adopters who look for the most recent data and cutting-edge technologies. LOHAS consumers frequently embrace and test new products early than their relatives or friends. Despite the fact that LOHAS consumers tend to be tech-savvy, empirical studies that look at LOHASians' adoption of technology have, as far as the author is aware, never been done. In light of this, this study investigates the psychological processes …
Secure Hierarchical Deterministic Wallet Supporting Stealth Address, Xin Yin, Zhen Liu, Guomin Yang, Guoxing Chen, Haojin Zhu
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
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
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
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
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
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
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 …
Meta And The Metaverse, Damian Kim
Meta And The Metaverse, Damian Kim
Perspectives@SMU
Meta are working on proof-of-concept initiatives as mobile internet evolves into Web3.0
An Empirical Study To Understand The Effectiveness And Scope Of Blockchain Technology In Indian Public Sector, Radhakrishnan Airy, Hritika Gajarlawar, Nilay Bajaria, Ganesh Joshi
An Empirical Study To Understand The Effectiveness And Scope Of Blockchain Technology In Indian Public Sector, Radhakrishnan Airy, Hritika Gajarlawar, Nilay Bajaria, Ganesh Joshi
Walden Faculty and Staff Publications
The Blockchain is a distributed database that is maintained as Blocks and contains all transactions or digital occurrences. These are the records of transactions that take place between parties.Blockchain blocks are kept as blocks and shared among participants. Each Block is examined, validated, and saved by the parties who are a part of the system/network, each brick is unique and contains the details of a single transaction as well as the transaction's hash key. The study offers insights to researchers about the opportunity threat and future use of blockchain in the public sector.
Flight To Bitcoin, Yang Yu, Jinyuan Zhang
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.
Can You "Die" In Real Life If The Metaverse Bans You?, Singapore Management University
Can You "Die" In Real Life If The Metaverse Bans You?, Singapore Management University
Perspectives@SMU
Four important elements are required in order for the metaverse to become a decentralised creators’ economy
Blockchain Networks As Knowledge Commons, Ilia Murtazashvili, Jennifer Brick Murtazashvili, Martin B. H. Weiss, Michael J. Madison
Blockchain Networks As Knowledge Commons, Ilia Murtazashvili, Jennifer Brick Murtazashvili, Martin B. H. Weiss, Michael J. Madison
Articles
Researchers interested in blockchains are increasingly attuned to questions of governance, including how blockchains relate to government, the ways blockchains are governed, and ways blockchains can improve prospects for successful self-governance. Our paper joins this research by exploring the implications of the Governing Knowledge Commons (GKC) framework to analyze governance of blockchains. Our novel contributions are making the case that blockchain networks represent knowledge commons governance, in the sense that they rely on collectively-managed technologies to pool and manage distributed information, illustrating the usefulness and novelty of the GCK methodology with an empirical case study of the evolution of Bitcoin, …
Bitcoin: Bringing New Meaning To Purchasing Power & Bridging The Wealth Gap, Fabienne Cadet
Bitcoin: Bringing New Meaning To Purchasing Power & Bridging The Wealth Gap, Fabienne Cadet
Association of Marketing Theory and Practice Proceedings 2022
Bitcoin has emerged as a hot topic in our marketplace. Launched in 2009, Bitcoin is considered the first cryptocurrency, which is a virtual currency, devoid of any physical form. This paper takes a strategic approach to investigating Bitcoin usage. Additionally, the paper provides insight on the societal impact of Bitcoin. As its demand increases, it appears that Bitcoin is here to stay, therefore gaining a better understanding of this new form of currency and its impact on the market is crucial. The paper begins with background information on Bitcoin, followed by an overview of current Bitcoin users, which provides insight …
Cross-Cryptocurrency Return Predictability, Li Guo, Bo Sang, Jun Tu, Yu Wang
Cross-Cryptocurrency Return Predictability, Li Guo, Bo Sang, Jun Tu, Yu Wang
Research Collection Lee Kong Chian School Of Business
Using the minute-frequency data on Binance, we find strong evidence of cross-cryptocurrency return predictability. The lagged returns of other cryptocurrencies serve as significant predictors of focal cryptocurrencies up to ten minutes, in line with slow information diffusion. The results are robust across various methods, including the adaptive LASSO and principal component analysis. Furthermore, a long-short portfolio formed on the past returns of cryptocurrencies can generate a daily return of 2.16% out-of-sample after accounting for transaction costs, indicating sizable economic value of cross-cryptocurrency return predictability.
Dynamic Spillovers Between The Term Structure Of Interest Rates, Bitcoin, And Safe-Haven Currencies, David Y. Aharon, Zaghum Umar, Xuan Vinh Vo
Dynamic Spillovers Between The Term Structure Of Interest Rates, Bitcoin, And Safe-Haven Currencies, David Y. Aharon, Zaghum Umar, Xuan Vinh Vo
All Works
This study examines the connectedness between the US yield curve components (i.e., level, slope, and curvature), exchange rates, and the historical volatility of the exchange rates of the main safe-haven fiat currencies (Canada, Switzerland, EURO, Japan, and the UK) and the leading cryptocurrency, the Bitcoin. Results of the static analysis show that the level and slope of the yield curve are net transmitters of shocks to both the exchange rate and its volatility. The exchange rate of the Euro and the volatility of the Euro and the Canadian dollar exchange rate are net transmitters of shocks. Meanwhile, the curvature of …
Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi
Making Money From Cryptocurrency? The Taxman May Call On You, Hern Kuan Liu, Vincent Ooi
Research Collection Yong Pung How School Of Law
Miners, forgers, hobbyists, traders – different rules apply. Just don’t assume crypto investment is somehow immune to taxation.
Asia Embraces Digital Currency And Cryptocurrency, David Kuo Chen Lee
Asia Embraces Digital Currency And Cryptocurrency, David Kuo Chen Lee
Asian Management Insights
A decade ago, everyone was sceptical about cryptocurrency. Today, Asian governments are harnessing its technology to raise payment efficiency and improve financial inclusion. Initially, the technology was advocated and harnessed by ‘cypherpunks’, that is, individuals who advocate the use of cryptography and other strong encryption technologies to promote social and political change. At that time, being a cypherpunk meant standing on the opposite side of the government; today, I see cypherpunks, otherwise more appropriately known as cryptopunks, working closely with governments.
Bitcoin As A Viable Alternative To Legacy Reserve Assets: Reasons, Risks, And Adoption, Jeffry Blake Dunson Ii
Bitcoin As A Viable Alternative To Legacy Reserve Assets: Reasons, Risks, And Adoption, Jeffry Blake Dunson Ii
Senior Honors Theses
Reserve assets include commodities, currencies, or other capital held by institutions as a hedge against the fluctuations of external factors. While the United States’ rise to power helped establish the US dollar as the most predominant reserve asset of the past fifty years, current events & the fast pace of technological advancement has exposed some limitations in the system. Blockchain technology has allowed for assets with cryptographically verifiable integrity that fundamentally depart from the US dollar standard and has potential to overhaul reserve assets as we know it. The course of this research details the downsides of legacy reserve assets, …
Bitcoin: The Pioneer Of Cryptocurrency With A Limited Dream, Anna M. Gellerman, Benjamin Zheng
Bitcoin: The Pioneer Of Cryptocurrency With A Limited Dream, Anna M. Gellerman, Benjamin Zheng
Publications and Research
BitCoin is the most well known and adaptable cryptocurrency today. Due to the evolvement of the cryptocurrency market, many are thinking what this could mean for society; is the world ready for a new mainstream medium of exchange? This poster argues that although BitCoin is functional for small scale payments, it is inadaptable to become a payment tool comparable to cash and card.