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On cryptocurrencies, digital assets and private money
Journal of Payments Strategy & Systems,
12
(1),
13-32
(2018)
Abstract
This paper reviews the technical, economic and legal aspects underlying cryptocurrencies — the native digital assets that form the basis of an open public blockchain infrastructure. This structure is then extended to discuss secondary tokens, where blockchains can be leveraged to issue, register and settle digital assets that may represent securities, private forms of money or other property rights. The viability, complexities and limitations of such models are reviewed with the purpose of providing the reader with a strong foundation for deeper exploration of this complex and emerging field.
Keywords: money; cryptocurrency; blockchain; Bitcoin; Ethereum; initial coin offerings
The full article is available to subscribers to the journal.
Author's Biography
Avtar Sehra is CEO and Product Architect at Nivaura. He previously worked in investment banking, specialising in financial engineering, and started his career in academia as a computational particle physicist.
Richard Cohen is a Senior Associate specialising in debt capital markets at Allen & Overy. Richard combines his debt capital markets practice with a focus on FinTech and blockchain advisory work.
Vic Arulchandran is COO and Head of Compliance at Nivaura. He previously worked in investment banking, specialising in quantitative analytics and risk management. He has a PhD in mathematics.
