IDEAS home Printed from https://ideas.repec.org/a/brc/brccej/v4y2019i2p129-134.html
   My bibliography  Save this article

Virtual Currencies, A New Business Development Model

Author

Listed:
  • Catalin DRAGOI

    (“Victor Slavescu” Centre for Financial and Monetary Research, Romanian Academy, Romania)

Abstract

On the background of the development and maturity of virtual currency markets a new type of business or company emerged. The classic method by which a company becomes public by winning funds from individual investors is by selling shares in an initial public offering. What is called "initial coin offering" is in the area of cryptocurrency equivalent to an initial public offering in the world of the main investments, the initial offer of the currency acting as a collector of funds. Most often, initial coin offerings are used by new companies to circumvent the rigorous and regulated process of capital increase demanded by investment funds or banks. The paper aims to analyse how virtual currency work, what their characteristics are, and whether they can be an economic development factor.

Suggested Citation

  • Catalin DRAGOI, 2019. "Virtual Currencies, A New Business Development Model," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 4(2), pages 129-134.
    • Handle: RePEc:brc:brccej:v:4:y:2019:i:2:p:129-134
    as

    Download full text from publisher

    File URL: http://www.revec.ro/papers/190216.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Grégory Claeys & Maria Demertzis & Konstantinos Efstathiou, 2018. "Cryptocurrencies and monetary policy," Policy Contributions 26557, Bruegel.
    2. DOBRESCU, Edith Mihaela & DOBRESCU, Emilian M., 2017. "Future Of Virtual Currency," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 4(1), pages 118-124.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hatice Karahan, 2021. "Assessing the future prospects for cryptocurrencies," International Journal of Business Ecosystem & Strategy (2687-2293), Bussecon International Academy, vol. 3(1), pages 32-37, January.
    2. Belke, Ansgar & Beretta, Edoardo, 2019. "From cash to central bank digital currencies and cryptocurrencies: A balancing act between modernity and monetary stability," Ruhr Economic Papers 816, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Ansgar Belke & Edoardo Beretta, 2020. "From cash to central bank digital currencies and cryptocurrencies: a balancing act between modernity and monetary stability," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 47(4), pages 911-938, June.
    4. Barry Eichengreen, 2020. "From Commodity to Fiat and Now to Crypto: What Does History Tell Us?," World Scientific Book Chapters, in: Bernard Yeung (ed.), DIGITAL CURRENCY ECONOMICS AND POLICY, chapter 4, pages 17-39, World Scientific Publishing Co. Pte. Ltd..
    5. Jennifer Castle & Takamitsu Kurita, 2022. "Structural relationships between cryptocurrency prices and monetary policy indicators," Economics Series Working Papers 972, University of Oxford, Department of Economics.
    6. Sumei Luo & Guangyou Zhou & Jinpeng Zhou, 2021. "The Impact of Electronic Money on Monetary Policy: Based on DSGE Model Simulations," Mathematics, MDPI, vol. 9(20), pages 1-26, October.
    7. Marta Maciejasz-Swiatkiewicz & Robert Poskart, 2020. "Cryptocurrency Perception Within Countries: A Comparative Analysis," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 186-203.
    8. Sonan Memon, 2022. "Cryptocurrencies: Review of Economics and Policy," PIDE-Working Papers 2022:7, Pakistan Institute of Development Economics.
    9. Gaston Giordana & Paolo Guarda, 2019. "Why do social networks introduce virtual currencies?," BCL working papers 132, Central Bank of Luxembourg.
    10. Juan Carlos Henao & Liliana López-Jiménez, 2021. "Disrupción tecnológica, transformación digital y sociedad. Tomo IV, Aires de revolución : nuevos desafíos tecnológicos a las instituciones económicas, financieras y organizacionales de nuestros tiempo," Books, Universidad Externado de Colombia, Facultad de Derecho, number 1283, htpr_v3_i.

    More about this item

    Keywords

    virtual currency; initial coin offerings; business model;
    All these keywords.

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

    Statistics

    Access and download statistics

    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:brc:brccej:v:4:y:2019:i:2:p:129-134. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Cristina GANESCU (email available below). General contact details of provider: http://www.univcb.ro/ .

    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.