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Cryptography and Its Role in Blockchain

In: Financial Management in the Digital Economy

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  • Jing Feng Lau

Abstract

A blockchain is a digital ledger in which transactions are recorded chronologically and publicly. It was not until 2008 that the idea of blockchains was fully developed — someone using the fictitious name Satoshi Nakamoto published a paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” This paper built on previous work of Hal Finney’s reusable Proof-of-Work system. Blockchains have since been applied as digital currencies and as solutions to other problems…

Suggested Citation

  • Jing Feng Lau, 2021. "Cryptography and Its Role in Blockchain," World Scientific Book Chapters, in: David Kuo Chuen Lee & Ding Ding & Chong Guan (ed.), Financial Management in the Digital Economy, chapter 3, pages 45-64, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811230011_0003
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    More about this item

    Keywords

    Digital Assets; Blockchain; Blockchain Applications; Financial Technology; Digital Payment; Cryptocurrency; Financial Inclusion; Financial Management; Digital Economy; Digital Transformation; Robo Advisory; Digital Branding; Financial Services;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G2 - Financial Economics - - Financial Institutions and Services

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