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Blockchain Futures In Cryptocurrencies, Trade And Finance: A Preliminary Assessment

Author

Listed:
  • Ahmet Faruk Aysan

    (Hamad Bin Khalifa University)

  • Behar Sadriu

    (SOAS University of London)

  • Humeyra Topuz

    (Universidad Carlos III de Madrid)

Abstract

The study explores whether blockchain technology can change the paradigm of the current financial structure and the balance of power in the international financial system. Accordingly, this study reviews the development of blockchain technology by analyzing China and Venezuela, both of which struggle to harness their technological advancement and to enhance their power in the international realm. We found that Venezuela invests in blockchain technology to create an alternative payment structure for survivability, while China’s desire is to become a global leader in global blockchain technology.

Suggested Citation

  • Ahmet Faruk Aysan & Behar Sadriu & Humeyra Topuz, 2020. "Blockchain Futures In Cryptocurrencies, Trade And Finance: A Preliminary Assessment," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 23(4), pages 525-542, December.
    • Handle: RePEc:idn:journl:v:23:y:2020:i:4d:p:525-542
    DOI: https://doi.org/10.21098/bemp.v23i4.1240
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    Citations

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    Cited by:

    1. Bhimani, Alnoor & Hausken, Kjell & Arif, Sameen, 2022. "Do national development factors affect cryptocurrency adoption?," Technological Forecasting and Social Change, Elsevier, vol. 181(C).
    2. Aysan, Ahmet Faruk & Unal, Ibrahim Musa, 2021. "A Bibliometric Analysis of Fintech and Blockchain in Islamic Finance," MPRA Paper 109712, University Library of Munich, Germany.
    3. Jabbar, Abdul & Geebren, Ahmed & Hussain, Zahid & Dani, Samir & Ul-Durar, Shajara, 2023. "Investigating individual privacy within CBDC: A privacy calculus perspective," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Ahmet Faruk Aysan & Nawaz Farrukh, 2021. "China's Transition to a Digital Currency: Does It Threaten Dollarization?," Working Papers hal-03364939, HAL.
    5. Ahmet Faruk Aysan & Ali Yavuz Polat & Hasan Tekin & Ahmet Semih Tunali, 2021. "Bitcoin-specific fear sentiment and bitcoin returns in the COVID-19 outbreak," Working Papers hal-03354930, HAL.
    6. Ahmet Faruk Aysan & Ibrahim Musa Unal, 2021. "Is Islamic Finance Evolving Into Fintech and Blockchain: A Bibliometric Analysis," Post-Print hal-03351153, HAL.

    More about this item

    Keywords

    China; Venezuela; Blockchain; Disruptive technologies; Bitcoin; Central banking;
    All these keywords.

    JEL classification:

    • C30 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

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