V. Cryptocurrencies: looking beyond the hype
Cryptocurrencies' decentralised model of generating trust limits their potential to replace conventional money, Chapter V of the Annual Economic Report 2018 argues.
Fintech and Financial Services: Initial Considerations
A new wave of technological innovations, often called âfintech, â is accelerating change in the financial sector. What impact might fintech have on financial services, and how should regulation respond? This paper sets out an economic framework for thinking through the channels by which fintech might provide solutions that respond to consumer needs for trust, security, privacy, and better services, change the competitive landscape, and affect regulation. It combines a broad discussion of trends across financial services with a focus on cross-border payments and especially the impact of distributed ledger technology. Overall, the paper finds that boundaries among different types of service providers are blurring; barriers to entry are changing; and improvements in cross-border payments are likely. It argues that regulatory authorities need to balance carefully efficiency and stability trade-offs in the face of rapid changes, and ensure that trust is maintained in an evolving financial system. It also highlights the importance of international cooperation.
Hong Kong â Building Trust Using Distributed Ledger Technology
This paper aims to explain briefly what DLT is, and indicate the technologyâs transformative potential, describe what selected overseas jurisdictions have been doing to explore DLT, describe the present state of DLT exploration in Hong Kong, suggest an initial framework for Hong Kong to build up a DLT ecosystem and suggests potential DLT use-cases in Hong Kong for medium-term consideration. The paper takes its lead from the financial services implications of DLT â from which perspective DLT is a dimension of FinTech and also a digital currency. In that sense, blockchain strategy is one element of FinTech strategy. However, DLT has implications far beyond financial services, which the present paper also seeks to address.
Building trust in government: Exploring the potential of blockchains
This report shares key insights on market adoption of blockchain solutions. It also explores what differentiates early adopters and how other government organizations can benefit from their blockchain explorations.
Winklevoss Bitcoin Trust dumped NASDAQ for the largest market operator for exchange-traded funds, BATS
On Wednesday the Winklevoss twins filed a [sixth amendment](https://www.sec.gov/Archives/edgar/data/1579346/000119312516636535/d68862ds1a.htm) to their Securities and Exchange Commission (SEC) registration for the Winklevoss Bitcoin Trust. The amendment includes two major changes, the price and their chosen exchange.
Virtual currencies: passion,prospects and challenges
The purpose of this Working Paper is to provide a snapshot on virtual currencies. It focuses on convertible, decentralised virtual currencies. Taking Bitcoin as proxy, it reviews its short history and early use cases as means of payment and speculative asset, finding these customer requirements supported by an ever increasing range of service providers, many of which attract venture capital with great ease. Whilst the actual economic footprint of virtual currencies remains very limited, there is a flurry of debates as to the impact a wider adoption could have notably on the economy and on monetary policy, as well as to whether the underlying technology â in essence a distributed, global ledger not requiring the intervention of a trusted third party - couldnât be leveraged more significantly to record transfers of assets other than money.
FX Comment â Bitcoin to replace AUD?
Bitcoin has become part of the everyday lexicon. We look at its creation, use and quality as âcurrency.â To become a currency will take a prolonged period to establish trust and adoption. Caveat emptor
