Topic : Cryptocurrency
Rutuja Pawar (Div. A/45)
1) This paper aims to define what cryptocurrency is understood as today by following the evolution of the term starting with Bitcoin. The neologism cryptocurrency is unstable in its meaning, and is applied to systems with diverse technical architectures and governance systems. Nevertheless, one way to unify the diverse uses of the term is to define it by some common intent among those who claim it, rather than by the diverse means via which that intent is enacted, and regardless of whether the intent is achieved in practice. We find that cryptocurrency systems are unified by being intended to host a general or limited-purpose medium-of-exchange, a cryptocurrency, using infrastructure that replaces trust in institutions by cryptography to varying degrees. Pernice, Ingolf G. A. et al,2021.
2) The article aims to explain how cryptocurrencies have evolved in the last decade from the idea stage, when they could have been considered a utopic dream of the modern world, to the current development stage, when the transaction of cryptocurrencies in alternative systems implies an ever-increasing volume of funds. Adela Socol, 2020.
3) We analyze the cross-section of more than 1200 cryptocurrencies derived from 350 exchanges in the time period from January 2014 to June 2020. Specifically, we investigate whether well-known cross-sectional characteristics like beta (Fama/MacBeth (1973)), size (Banz (1981)) or momentum (Jegadeesh/Titman (1993)) which have been intensively investigated in the equities literature explain the cross-section of cryptocurrency returns. We apply the monotonic relationship (Mr.) test developed by Patton and Timmermann (2010) to test for dependencies between characteristics and average portfolio returns and standard deviations. We extend the existing literature on cryptocurrencies showing that there are various characteristics which are able to explain cryptocurrency risk and return. Steffen Günther,2020.
4) The study explored the perception of cryptocurrencies among students at the Faculty of Economic Sciences, with a focus on their understanding, attitudes, and future intentions regarding cryptocurrencies. Adrian MOROSAN et al, 2023.
5) This survey covers 146 research papers on various aspects of cryptocurrency trading, including available trading platforms, trading signals, trading strategy research and risk management. It also analyses datasets, research trends and distribution among research objects and technologies, concluding with some promising opportunities that remain open in cryptocurrency trading. Fan Fanget al, 2022.
6) The article proposes a critical perspective on the potential impact of the growing cryptocurrency ecosystem on the process of democratizing money. After examining the various interpretations of the term “democratization”, we focus on one interpretation: that of financial inclusion. We propose a categorization of currently available cryptocurrencies, distinguishing four macro-categories: Bitcoin; altcoins, which include all alternative and/or complementary cryptocurrencies to bitcoin; stablecoins, which are digital coins whose value is pegged to a fiat currency; and central bank digital currencies (CBDCs). We provide a description of the economic characteristics of each category and analyse how and whether these instruments can contribute to financial inclusion. While each category appears to be capable of contributing to the democratization of money, CBDCs are the only ones that can truly pursue the goal of financial inclusion. Therefore, we argue that it is not money as such that needs to be democratized, but rather the role that central banks play in the economic system. Jacopo Temperiniet al, 2023.
7) The article focuses on the issue of money laundering through the use of cryptocurrencies, in particular, Bitcoin. The author has analyzed the mechanism of money laundering through the use of cryptocurrency, and has also studied the possibility of investigating such cases. Valeriia Dyntuet al, 2018.
8) Cryptocurrencies have been gradually entering the global financial system for over a decade and have become frequent investment instruments, while at the same time mostly operating outside of the traditional financial system. The aim of this paper is to compare the level of risk of investing in the cryptocurrency market with the risk of investing in the global capital market in the years 2011-2020. The level of risk was estimated using standard deviation and semi-standard deviation of daily logarithmic rates of return. The research has shown that investing in cryptocurrencies is riskier than investing in the shares of the largest international companies, and the level of risk decreases with the duration of the cryptocurrency’s presence on the market.
9) This study looks at how Malaysian investors perceive cryptocurrency, focusing on the perceived risk and value of cryptocurrencies. The study found that perceived value has a significant influence on cryptocurrency adoption, while perceived risk does not. Shangeetha Sukumaran et al,2022.
10) This paper aims to find out about the perception Romanian students have concerning cryptocurrencies. The method used in this research is qualitative. We have conducted semi-structured interviews which included the top of mind and Chinese Portrait method techniques. Vladut Faraonel et al, 2022.
11) This paper examines the contagion effect of the cryptocurrency market during sethe COVID-19 crisis. The study uses wavelet coherence and DCC-GARCH (1,1) models to analyze the interdependence and volatility dynamics of eight major cryptocurrencies. The results show that the cryptocurrency market is highly interconnected and that the contagion strengthened during the crisis period. The paper concludes that cryptocurrencies can be used as an inflation hedge, a “safe haven” for other financial asset classes, and a substitute way of transaction. Bhavesh Garg et al, 2023.
Reference:
1) Pernice, Ingolf G. A. & Scott, Brett, 2021. “Cryptocurrency,” Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 10(2), pages 1-10.
2) Adela Socol, 2020. “Cryptocurrencies Between Utopia And Reality,” Annals – Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 200-207, October.
3) Steffen Günther & Christian Fieberg & Thorsten Poddig, 2020. “The Cross-Section of Cryptocurrency Risk and Return,” Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 89(4), pages 7-28
4) Adrian MOROSAN & Oana OPRIÅžAN & Eduard Alexandru STOICA & Cosmin TILEAGÄ‚, 2023. “Students’ Perception Regarding the Cryptocurrencies,” Revista romaneasca pentru educatie multidimensionala – Journal for Multidimensional Education, Editura Lumen, Department of Economics, vol. 15(1), pages 463-481, March
5) Fan Fang & Carmine Ventre & Michail Basios & Leslie Kanthan & David Martinez-Rego & Fan Wu & Lingbo Li, 2022. “Cryptocurrency trading: a comprehensive survey,” Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-59, December.
6) Jacopo Temperini & Marcella Corsi, 2023. “Democratizing money? The role of cryptocurrencies,” PSL Quarterly Review, Economia civile, vol. 76(304), pages 51-66.
7) Valeriia Dyntu & Oleh Dykyi, 2018. “Cryptocurrency In The System Of Money Laundering,” Baltic Journal of Economic Studies, Publishing house “Baltija Publishing”, vol. 4(5Kozak Sylwester & Gajdek Seweryn, 2021.
8) Risk of Investment in Cryptocurrencies,” Economic and Regional Studies / Studia Ekonomiczne I Regionalne, Sciendo, vol. 14(3), pages 294-304, September.
9) Shangeetha Sukumaran & Thai Siew Bee & Shaista Wasiuzzaman, 2022
10) Vladut Faraonel & Alexandra Raluca Jelea & Mara Matcu, 2022. “Romanian Students’ Perception of Cryptocurrency,” Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 545-551, September.
11) Bhavesh Garg & Karan Rai & Rishabh Pachoriya & Manik Thappa, 2023. “Crisis And Contagion In Cryptocurrency Market,” Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 26(Special I), pages 9-32, February.