RT Journal Article
SR Electronic
T1 What Do Cryptocurrencies Do?
JF The Journal of Investing
FD Institutional Investor Journals
SP 57
OP 61
DO 10.3905/joi.2019.28.3.057
VO 28
IS 3
A1 Erin Denison
A1 Michael Lee
A1 Antoine Martin
YR 2019
UL https://pm-research.com/content/28/3/57.abstract
AB Cryptocurrencies, like Bitcoin, are designed to facilitate payments even when there is a lack of trust. In this article, the authors discuss the features that are necessary for cryptocurrencies to play this role. They conclude that the specific features required to allow cryptocurrencies to facilitate payments when there is a lack of trust make these currencies less convenient as a payment mechanism than alternatives that rely on trust. The authors conclude that as long as sufficient trust exist in payment intermediaries, cryptocurrencies are likely too inconvenient to be widely adopted.TOPICS: Currency, portfolio construction, wealth management