RT Journal Article
SR Electronic
T1 Blockchain Economics for Investment Professionals
JF The Journal of Investing
FD Institutional Investor Journals
SP 13
OP 20
DO 10.3905/joi.2019.28.3.013
VO 28
IS 3
A1 Lin William Cong
YR 2019
UL https://pm-research.com/content/28/3/13.abstract
AB The author reviews recent studies on blockchains, cryptocurrencies, and initial coin offerings (ICOs), and discusses their implications for institutional investors. The research on blockchain technology is organized into two broad categories: those with the economics of decentralized ledger technologies and those studying their impacts on the real economy. The author first clarifies the core functionalities of blockchains and then elaborates on issues concerning information distribution in generating decentralized consensus, industrial organization of mining pools, the role and dynamic pricing of crypto-tokens, and auditing with a federated blockchain.TOPICS: Currency, portfolio construction, wealth management