This curated collection of research papers is recommended reading, for those wanting to have a reasonably in-depth understanding of the Bitcoin, Blockchain & the wider Payments & Financial Technology industries mega trends.
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2014 | OECD
This paper briefly summarises the crypto-currency phenomenon, separating the ‘currency’ issues from the potential technology benefits. With respect to crypto currencies, the paper argues that these can’t undermine the ability of central banks to conduct monetary policy.
2014 | Ericsson
A new research report from Ericsson and Imperial College London provides a broad horizon scan of the impacts of ICT on services for money, banking, insurance and risk.
2014 | SEB
SEB Group's 2014 Annual Report
2014 | Long Finance
"Chain Of A Lifetime: How Blockchain Technology Might Transform Personal Insurance" is the outcome of a research project conducted between August and December 2014 which explored how blockchain technology might transform personal insurance and in particular interactions among individuals and insurance companies over time.
2014 | KPMG
The focus of the newest issue of Frontiers in Finance is on navigating change and transformation.
December 2014 | Euro Banking Association
In early 2014, the EBA e-AP Working Group published an opinion paper on the user requirements for next generation alternative retail payments. As a next step, the working group has published an opinion paper which aims to facilitate a discussion on the impact of these requirements on retail infrastructures. It focuses on the relation between the interbank infrastructure enabling e-APs and the services that e-APs consist of. After defining and scoping the current role of infrastructures, this paper sets out three possible directions for future developments and suggests an approach to EBA members.
November 2014 | The RMA Journal
Bitcoin transactions require no banks and no clearing house—plus they execute in real time. What does this mean for the banking industry? Ignore this virtual currency system, and others like it, at your own peril.
This paper presents the micro-structure of the Bitcoin transaction process and highlights the use of cryptography for the purposes of transaction security and distributed maintenance of a ledger. The empirical analysis is based on publicly available transaction-level data.
September 2014 | Bank of England
This article examines the economics of digital currencies and presents an initial assessment of the risks that they may, in time, pose to the Bank of England’s objectives for monetary and financial stability.
September 2014 | Bank of England
This report discusses more recent developments in payment systems, focusing on the emergence of privately developed, internet-based digital currencies.
September 2014 | Federal Reserve Bank of Boston
This policy brief discusses how some features of bitcoin, as designed and executed to date, have hampered its ability to perform the functions required of a fiat money––as a medium of exchange, unit of account, and store of value.
July 2014 | Euro Banking Association
The European Banking Authority (EBA) published an Opinion addressed to the EU Council, European Commission and European Parliament setting out the requirements that would be needed to regulate ‘virtual currencies'.
July 2014 | World Bank Group
This paper explains the structure of Ponzi schemes and goes on to argue that what makes this such a troubling phenomenon is its ability to be camouflaged amidst legitimate practices.
July 2014 | Republique Francaise
This is an English summary of the report by Philippe MARINI, president of the committee on finance of the French Senate, and François MARC, rapporteur général, on the development of digitial currencies, published on 4th August 2014.
Recommendations to prevent virtual currencies from being used for fraudulent purposes and money laundering
June 2014 | The Commonwealth
The group produced an overview of the risks and threats associated with virtual currencies, and drew up a set of recommendations with an eye to lessening their impact. Since the virtual currency sector is growing by leaps and bounds, it is worth pointing out that the recommendations are based on an analysis of the situation as of June 2014.
June 2014 | Deutsche Bundestag
March 2014 | Bank of England
‘Money in the modern economy: an introduction’, a companion piece to this article, provides an overview of what is meant by money and the different types of money that exist in a modern economy, briefly touching upon how each type of money is created. This article explores money creation in the modern economy in more detail.
March 2014 | Deliotte
Mainstream perception of Bitcoin, much like the cryptocurrency itself, has been volatile. Aside from this volatility and other challenges around regulatory oversight and security concerns, there are clear benefits, particularly for payments. What will it take to get Bitcoin into mainstream adoption? What might the future of cryptocurrencies mean for traditional financial services?
March 2014 | Goldman Sachs Global Investment Research
News about Bitcoin seems to be everywhere. So what is it?
March 2014 | Federal Reserve Bank of st. Louis
With public interest in virtual currencies piqued, the Federal Reserve Bank of St. Louis presented “Bitcoin and Beyond: The Possibilities and the Pitfalls of Virtual Currencies” as part of its Dialogue with the Fed series earlier this year. Dialogue with the Fed was started in the fall of 2011 to address key economic and financial issues of the day and to provide the public with the opportunity to ask questions of Fed experts.