ARK Invest
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Disruptive Innovation: ‘New Markets New Metrics’
This paper explores some of the broad thematic research areas upon which ARK Investment Management is focused today. These subjects fit squarely in the macro realm that portfolio managers should understand when analyzing investment opportunities. Like changes in economic policy, nonlinear changes in technology can have dramatic effects on industries across the globe.
How Blockchain Technology Can Enhance EHR Operability
This report dives deep into the specifics of a blockchain implementation relevant to EHRs after further describing the current landscape of healthcare information technology (IT). To avoid classic hype cycle thinking, it is important to first understand the existing landscape before unrealistic solutions are proposed.
Bitcoin: Ringing The Bell For A New Asset Class
ARK Invest and Coinbase explore the merit of bitcoin as the first of its kind in a new asset classâcryptocurrencyâdistinct from all other asset classes. Universally, we think traditional asset classes must meet the requirement of investability. However, traditional asset classes then differ in their politico-economic features, correlation of price movements, and risk reward profiles. In this paper, all four criteria are explored in the context of the major asset classes.
Bitcoin: Securing the Network
This white paper investigates how the Bitcoin network will be sustained, especially as its incentive structure changes in coming years.In the coming decades the mining incentive structure of the Bitcoin network is set to shift from block rewards to transaction fees. For this transition to be effective, the network needs to remain robust enough to prevent a 51% attack, while continuing to facilitate transactions at a low cost. Once block rewards phase out, ARK Investâs research demonstrates that a transaction fee of 1.2% would be sufficient to incentivize the buildout of a network that is secure from an economically profitable 51% attack, regardless of bitcoinâs market cap and the capital allocation of a nefarious miner. This 1.2% fee would underpin other potential transactions in the Bitcoin network beyond the bitcoin currency, which could include real estate transfers, venture capital contracts, and machine-to-machine transmissions.
Bitcoin: A Disruptive Currency
The attached paper investigates whether bitcoin is a currency, serving the three main functions of money: a means of exchange, a store of value, and a unit of account. In order for bitcoin to take on the role of other currencies, it must satisfy all three functions.
