IDEAS home Printed from https://ideas.repec.org/h/pal/pmschp/978-1-137-54121-5_8.html
   My bibliography  Save this book chapter

Decentralised Blockchained and Centralised Real-Time Payment Ledgers: Development Trends and Basic Requirements

In: Transforming Payment Systems in Europe

Author

Listed:
  • Harry Leinonen

Abstract

The number of virtual currencies based on blockchain technology grows rapidly, counting more than 400 different schemes today (ECB, 2012, 2015; Raymaekers, 2015). Bitcoin (Bitcoin, 2015) is the largest and most widely known, but it has several competitors such as Ripple (Ripple, 2015), Litecoin (Litecoin, 2015) and Peercoin (Peercoin, 2015) to name a few, and a longer list can be found at Cryptocoincharts (Cryptocoincharts, 2015). The term virtual currencies can be used to cover a larger variety of different Internet payment systems, some of which are not based on blockchain technology, but traditional centralised real-time accounts. PayPal (PayPal, 2015) is probably the best known centralised world-wide Internet payment system. In this chapter the term virtual currency will only cover the subset of virtual currencies which is commonly referred to as cryptocurrencies, that is, those that are based on blockchain technology and decentralised account databases or files. These payment instruments will be compared to traditional payment systems based on centralised account databases. Virtual currencies and blockchain technology have often been greeted as the new technology revolution that will fundamentally change paying in the future (see for example Harvey, 2015), but there are also more critical voices (see for example Tymoigne, 2015).

Suggested Citation

  • Harry Leinonen, 2016. "Decentralised Blockchained and Centralised Real-Time Payment Ledgers: Development Trends and Basic Requirements," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Jakub Górka (ed.), Transforming Payment Systems in Europe, chapter 8, pages 236-261, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-54121-5_8
    DOI: 10.1057/9781137541215_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:pmschp:978-1-137-54121-5_8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.