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Criptocurrencies, Fiat Money, Blockchains and Databases [article]

Jorge Barrera
2020 arXiv   pre-print
The characteristics of the use of current fiat money and the operation of two-level banking systems are discussed.  ...  The possible cases of use of both technologies are compared, and it is noted that blockchains, in addition to cryptocurrencies and certain records, have not yet shown their usefulness, while databases  ...  Regarding the use of fiat money, two systems for payments can be distinguished: the one for payments for high amounts, which as a rule are made by commercial banks through the, from Central Banks operated  ... 
arXiv:2002.08466v1 fatcat:72qvj4pb7vealkuxcvtbshr3ju

Resources: A Safe Language Abstraction for Money [article]

Sam Blackshear, David L. Dill, Shaz Qadeer, Clark W. Barrett, John C. Mitchell, Oded Padon, Yoni Zohar
2020 arXiv   pre-print
Smart contracts are programs that implement potentially sophisticated transactions on modern blockchain platforms.  ...  Move uses novel linear [Girard 1987] resource types with semantics drawing on C++11 [Stroustrup 2013] and Rust [Matsakis and Klock 2014]: when a resource value is assigned to a new memory location, the  ...  Though UTXOs are a good choice for a platform with a single native currency and limited programmability, they are cumbersome to use for general-purpose state changes.  ... 
arXiv:2004.05106v2 fatcat:7uu2ahxy3zcarofocf7o5r62sa

Money is data – the platformization of financial transactions

Carola Westermeier
2020 Information, Communication & Society  
Large data-driven companies hereby seek access to financial transactions and try to embed payments within their platforms.  ...  It results in the transformation of money into a form of (transactional) data and shows how the value of money and data depends on the technological underpinnings that determine the capability of their  ...  Funding This project has received funding from the European Research Council (ERC) under the European Union's Horizon 2020 research and innovation programme (grant agreement No. 682317).  ... 
doi:10.1080/1369118x.2020.1770833 fatcat:sepg3w6apnd53fn36i6qiwxwki

Regulatory Fitness: Fintech, Funny Money, and Smart Contracts

Roger Brownsword
2019 European Business Organization Law Review  
Blockchain is a potentially transformative technology and it is important to have more fundamental conversations about the kind of community that we want to be.  ...  the acceptability of smart contracts, then the conversation that needs to be had is of a 'regulatory-instrumentalist' nature; in particular, if the question is one of public policy restrictions on the use  ...  Before we become a blockchain-using community, the smart thing to do is to ask whether that is what we want to be-and, if so, what kind of blockchain-using community we want to be. 77 Open Access This  ... 
doi:10.1007/s40804-019-00134-2 fatcat:oa3gopwxhrhihcs5hp6274gpt4

CRYPTO-CURRENCIES - AN INTRODUCTION TO NOT-SO-FUNNY MONEYS

Christie Smith, Aaron Kumar
2018 Journal of economic surveys (Print)  
While crypto-currencies are clearly used for exchange, we argue that they are not yet generally accepted, and for the most part they are not used as a unit of account.  ...  Their utility as a payment mechanism stems from a belief that others will continue to use the corresponding ledger systems to exchange goods and services in future.  ...  They then investigate the conditions under which a government could deter the use of Bitcoin.  ... 
doi:10.1111/joes.12289 fatcat:7vgz5yppvve2zb5ib7dbgn2fxe

Mobile Payments, Social Money: Everyday Politics of the Consumer Subject

Ruben Kremers, James Brassett
2017 New Political Economy  
How should we think about mobile payments systems like Apple and Android pay?  ...  By reflecting on the sociality of money (Appadurai 1985; Maurer 2012), we move beyond a simple cost-benefit analysis, or a structural determinism, to emphasise the contingency of market subjects and how  ...  see GSMA's Mobile Money press releases 2009-2015, http://www.gsma.com/mobilefordevelopment/programmes/mobile-money/about/press#top, last access 05/11/2016 9 http://www.prweb.com/releases/2015/07/prweb12847437  ... 
doi:10.1080/13563467.2017.1306503 fatcat:f63sgnrnindwbabw2yc2ph36ui

Trifling and Gambling with Virtual Money

John T. Holden
2017 Social Science Research Network  
Smaller, narrowly used, in-game virtual currencies have also emerged.  ...  GOX exchange leading to its collapse-have raised questions as to whether bitcoin is money, or even property, the loss of which is compensable.  ...  The Sensational Stories Despite the many potential beneficial uses of blockchain technology, salacious events often generate the most attention.  ... 
doi:10.2139/ssrn.3035892 fatcat:t75tfmn2nvevtc5wyufec344s4

From Bitcoin to Central Bank Digital Currencies: Making Sense of the Digital Money Revolution

Paulo Rupino Cunha, Paulo Melo, Helder Sebastião
2021 Future Internet  
We analyze the path from cryptocurrencies to official Central Bank Digital Currencies (CBDCs), to shed some light on the ultimate dematerialization of money.  ...  For instance, how can smart contracts be used to create programmable money? What are the impacts of these features in terms of money usage and monetary policy?  ...  Programmable money is about embedding behavior in the money itself; for example, executing payments upon confirmation of the receipt of goods or routing tax payments directly to authorities at the point  ... 
doi:10.3390/fi13070165 fatcat:iip4hgklprgzjbn47j2m5ej3d4

Understanding Modern Banking Ledgers Through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money

Gareth William Peters, Efstathios Panayi
2015 Social Science Research Network  
In this chapter we provide an overview of the concept of blockchain technology and its potential to disrupt the world of banking through facilitating global money remittance, smart contracts, automated  ...  In this regard, we first provide a brief overview of the core aspects of this technology, as well as the second-generation contract-based developments.  ...  Second generation blockchain technologies enable not only the execution of simple transactions, but the carrying out of computation on a network, where e.g. payments become conditional on the state of  ... 
doi:10.2139/ssrn.2692487 fatcat:qcub4ko6ujcghohenwhkcj5qrm

The Right to Money as the Fundamental Right of Individuals in the Coming Digital Economy

Kartik Hegadekatti
2017 Social Science Research Network  
In this paper, we will explore the concept of the Right to Money and how it is linked to the Right to Life.  ...  This will be the logical next step. Again, Blockchain technology makes it possible to provide machines with unique identities.  ...  Right to Money on the other hand is incentivized value addition to the next generation. This is achieved through Right to Machines. (4) Universal Basic Income entails an increase in taxation [8] .  ... 
doi:10.2139/ssrn.2957172 fatcat:czj4ikxa4vgybbet5rvp5563fi

Evolution of the Institutional Structure of Private Money in the Form of Cryptocurrencies – Development Models and Controversy with Hayek's

Vadim A. Syropyatov, Southern Federal University, Artem I. Maskaev, Southern Federal University
2020 Voprosy Regulirovaniâ Èkonomiki  
article, we set ourselves the task to analyze the most interesting and promising projects of the crypto industry that have fundamental products in various financial areas and which in the future, after the next  ...  With bitcoin emission becomes decentralized, we have no issuer, no reserves in other currencies, there is no possibility to reduce or regulate the money supply (all this is possible for private money,  ...  They were used by developers, programmers and cryptography enthusiasts, generating bitcoins and transferring to each other for the purpose of experimenting to optimize the network code and explore the  ... 
doi:10.17835/2078-5429.2020.11.3.038-048 fatcat:6xq36rdo3bcjpdnbsoo2j5tlu4

LEGAL REMARKS ON THE OVERARCHING COMPLEXITIES OF CRYPTO ANTI-MONEY LAUNDERING REGULATION

Gustavo Rabay GUERRA, Henrique Jerônimo Bezerra MARCOS
2019 Revista Juridica  
KEYWORDS: Crypto-assets; crypto-currencies; bitcoin; blockchain; money laundering.  ...  Objective:The paper analyzes money laundering through crypto-assets and offers a legal perspective on how this new technology can be used to commit these felonies.  ...  ransom payment.  ... 
doi:10.21902/revistajur.2316-753x.v4i57.3757 fatcat:znhmp46lobdrhmcjqyjtbrmhdq

CRYPTOCURRENCY AND DIGITAL MONEY IN ISLAMIC LAW: Is it Legal?

Husnul Fatarib, Meirison Alizar Sali
2021 JURISDICTIE  
The existence of a country is a form of protection to the money owners from the acts of fraud in finance.  ...  This network has a big accounting book called Blockchain which can be accessed by public. This article is doctrinal legal research with conceptual research.  ...  Now cryptography is used as the secret key for Bitcoin virtual money in Blockchain technology.  ... 
doi:10.18860/j.v11i2.8687 fatcat:vufp6qwfhregllcin6rxzshnt4

Financial analysis of innovative forms of money

Jana Šimonová, Jozef Čentéš, Andrej Beleš
2019 Entrepreneurship and Sustainability Issues  
claim for damages, requires that the assets be secured in a way that prevents them being placed outside the public authorities' control and limits the potential for the laundering of funds and their use  ...  The aim of the present paper is to focus attention on the financial analysis of selected assets related to financial markets and new forms of money.  ...  The development of the legislative framework also built upon the Hague Programme (Ten priorities for the next five years) of 2004, in which the Commission advocated strengthening the tools for addressing  ... 
doi:10.9770/jesi.2019.7.1(6) fatcat:y62eln7hzvfvhoi5hyggiguydm

Embedded extraterritoriality: US judicial litigation and the global banking surveillance of digital money flows [chapter]

Grégoire Mallard, Anna Hanson
2021 Research Handbook on Unilateral and Extraterritorial Sanctions  
procedural programme violations, by which one meant that banks had to send payments to a subject fund for any US and alien victims in any future civil compensation.  ...  As this expert adds, summing up the general opinion in the field of counter-proliferation finance in the mid-2000s: People say follow the money.  ... 
doi:10.4337/9781839107856.00025 fatcat:ydpw535ejzhsrnfoq62xhtzeqi
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