, 21 October 2018

Blockchain technology has a real potential to be a catalyst in the world of finance, offering new ways to intermediate capital risk and incite change in the financial sector. That's what the audience heard at a CEPR conference held at ING's London headquarters. But how much of this new technology is really understood? And is there a danger that hype is overshadowing reality?

Michael Casey, Jonah Crane, Gary Gensler, Simon Johnson, Neha Narula, 16 July 2018

The idea of a new software system that powers a consensus-driven form of shared record keeping has already had a profound effect, encouraging rapid and substantial investment in what is now commonly referred to as blockchain technology. This column introduces the latest Geneva Report on the World Economy, which assesses the available evidence and likely impact for this technology across a wide range of applications and explores the potential use cases for the financial sector, and the ways in which the organisation of these activities may change over time.

Simon Johnson, 16 July 2018

Blockchain technology has the potential to be a catalyst for change to incumbent financial sector firms. In this Vox Talk, Tim Phillips talks to Simon Johnson, one of the authors of the latest Geneva Report on the World Economy which looks at the technology and its possible applications. 

Beatrice Weder di Mauro, 06 July 2018

Central banks are concerned about the impact of cryptocurrencies. In this Vox Talk, Tim Phillips talks to Beatrice Weder di Mauro about the sources of this concern, and whether the disappearance of cash and a desire to escape the zero lower bound will lead to central banks issuing their own digital currencies.   

Stephen Cecchetti, 25 June 2018

Though central banks do not seem concerned about being driven obsolete by cryptocurrencies, some are considering issuing digital currencies with similar technology. Stephen Cecchetti discusses three policy implications this might have, namely for restricting the illegal use of cash, allowing for negative interest rates, and improving financial access. All three are possible, but come with risk.

Jon Danielsson, 13 February 2018

Cryptocurrencies are supposedly a new and superior form of money and investments – the way of the future. The author of this column, however, does not see the point of cryptocurrencies, finding them no better than existing fiat money or good investments.

Neil Gandal, JT Hamrick, Tyler Moore, Tali Oberman, 22 June 2017

The cryptocurrency Bitcoin has attracted widespread interest, in large part due to wild swings in its valuation. This column considers an earlier rise in the Bitcoin price to investigate what is driving the currency’s price spikes. The 2013 rise was caused by fraudulent trades taking place at the largest Bitcoin currency exchange at the time. This finding has implications for policymakers as they weigh what, if anything, to do about regulating cryptocurrencies in light of the record high Bitcoin valuation that many fear is a bubble.

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