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Kryptowährungen als nächste Evolutionsstufe in der Finanzwirtschaft? Eine kritische Betrachtung der Chancen und Risiken

Author

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  • Wloch, Mario

    (Allensbach University Konstanz)

Abstract

The experience of the past financial crisis has led to the development of cryptocurrencies and technological advances have favored their dissemination. Due to the novelty, it is not yet clear, whether this is a new asset class or whether an integration into existing categories makes more sense. However, there is consensus that their basic technology, the blockchain, has disruptive potential for the entire financial industry. Cryptocurrencies are the prototype of this technology and thus they represent the most advanced part of blockchain technology. In this article, the current developments of cryptocurrencies are analyzed in the context of economic effects. The focus is on the question of how far cryptocurrencies have an economic benefit and which risks are associated with their use or introduction.

Suggested Citation

  • Wloch, Mario, 2018. "Kryptowährungen als nächste Evolutionsstufe in der Finanzwirtschaft? Eine kritische Betrachtung der Chancen und Risiken," Zeitschrift für interdisziplinäre ökonomische Forschung, Allensbach Hochschule, issue 1, pages 15-33, December.
  • Handle: RePEc:ris:zfioef:0110
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    More about this item

    Keywords

    Blockchain; Cryptocurrency; Bitcoin; Ethereum; Ripple; Mining; Micropayments; Microfinance; Bid- Ask-Spread; Speculative Bubble; Financial Inclusion; 51%-Attack; Cyber Risks; ASIC;

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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