An open-source, on-premise pipeline designed for emerging-market Financial Intelligence Units (FIUs) to ingest heterogeneous bank statements and detect money laundering using large language models while maintaining data sovereignty.

This paper examines the SwissLedger blockchain, the LVGA token, and the MyLugano app as integrated components of a publicly enabled urban infrastructure in Lugano.

This paper examines the "Strategic Regulatory Gray Area" (SRGA) in reform-stage economies, where regulators neither formally authorise nor prohibit digital-asset payments, and proposes a framework to transition these activities into formal regulation.

This paper examines how retail central bank digital currencies (CBDCs) function as a new autonomous factor in central bank liquidity management, impacting monetary policy implementation across different operational frameworks.

A study examining how tailoring FinTech loan repayment dates to align with borrowers' salary paydays can significantly improve repayment performance and financial inclusion.

Oracles are software components that enable data exchange between siloed blockchains and external environments, enhancing smart contract capabilities and platform interoperability.

This paper studies determinants of interest rates on Decentralized lending protocols.

Starting from the main events that unfolded in the crypto-assets market in 2022, this paper seeks to shed light on the challenges regulation faces, the areas it needs to cover, as well as on the drivers of the most recent regulatory developments.

This paper provides insight into the source of this volatility by developing the concept of a “crypto multiplier,” which measures the equilibrium response of a cryptocurrency’s market capitalisation to aggregate inflows and outflows of investors’ funds.

This paper argues that “stability” in stablecoins is a subjective legal and economic construct, not a simple reference to price constancy, and must be interpreted differently across technological, monetary, and legal frameworks.

This paper compares the market depth and liquidity provision profitability of the automated market makers (AMMs) Uniswap V3 and Uniswap V2 empirically.

This paper studies the desirability of programmable payments where transfers are automatically executed conditional upon preset objective criteria.

Authors propose a blockchain-enabled green bond issuance architecture that safeguards investors’ confidence in the bond’s green credentials while keeping the issuer from being accused of greenwashing.

This paper explores potential challenges that come with the implementation of blockchain applications, especially with respect to smart contracts. Authors provide an overview of legal uncertainties due to a continued lack of common standards globally.

Authors model the effect of an alternate, private settlement on arbitrage. Authors document payments from arbitrageurs to private settlers that exceed 1 million USD per day.

In this paper, the authors build a model of coexisting exchanges with two different market- making algorithms: a centralized exchange (CEX) with a traditional limit order book and a DEX with a CFMM.

In this paper, the authors reveal the link between the stock market and the Peer-to-Peer (P2P) lending market by exploring information of more than 450 thousand loans on Renrendai.com, a leading Chinese P2P crowd lending platform.

This abstract examines why central bank digital currencies are poised to reshape the global monetary system and why their success depends on difficult design, policy, and infrastructure choices.

In this paper, authors study the mechanisms that govern price stability of MakerDAO’s DAI token, the first decentralised stablecoin.

This paper analyses the possibility of introducing an expiry date for offline digital currency balances to automate personal loss recovery.

Authors assess how the cost structure of cryptocurrency mining affects the response of miners to exchange rate fluctuations and the immutability of cryptocurrency ledgers that rely on proof-of-work.

In this informal analysis and design proposal, authors describe how infrastructure for digital assets can serve as a useful monetary and fiscal policy tool and an enabler of existing tools in the future, particularly during crises, while aligning the trajectory of financial technology innovation toward a brighter future.

Using data on 988 peer-to-peer (P2P) lending platforms in China, authors examine the cross-side network effects (CNEs) throughout platform lifecycle in a dynamic industry characterized by entries, exits, and network externalities.

The authors study the welfare effects of the transition of online debt crowdfunding from the older “peer-to-peer” model to the “marketplace” model, where the crowdfunding platform sells diversified loan portfolios to investor.

The authors document high variation of Bitcoin fees, not only over time, but also within blocks.

The author shows that recent technological innovations have improved the efficiency of Bitcoin as a means of payment.

The author discusses the contract service provider (CSP) model as a counterpart of the successful Internet ISP model.

The authors investigate the effect of peer-to-peer (P2P) lending on traditional banks’ loan losses by examining whether and how P2P lending activity in a state affects loan loss provisions of that state’s commercial banks.

Authors examine the impact of information flows on financing and the relative roles of hard information, soft information, and certification of issuer quality by third parties, using novel evidence from the US securities-based crowdfunding market.

Authors develop a simple model of a coordination game in which coordinating on a single chain is always an equilibrium for the community, whereas initiating a hard fork can be an equilibrium depending on the composition of the community and the upgrade being proposed.

Using data from Lending Club and Prosper, the two largest peer-to-peer lenders in the U.S., the author provides evidence of the winner’s curse in the online personal lending market.

In this paper, the authors discuss a design philosophy for interoperable blockchain systems, using the design philosophy of the Internet architecture as the basis to identify key design principles.

This paper explores P2P lending in the context of mortgage financing.

The author argues that frictions within the microstructure of the bitcoin network as well as capital controls imposed by the Korean government limit the ability of arbitrageurs to take advantage of persistent price differences.

This paper evaluates the transaction rate requirements of financial systems and compares them with current consortium blockchain performance, showing that modern blockchains are approaching legacy payment networks despite inherent performance trade-offs for tamper-resistance.

By showing that a simple profit-sharing contract with decentralized decision making could first best coordinate individuals’ investment choices, this paper studies as a general contracting problem the role of profit sharing in harnessing the crowd wisdom, and discusses implications for the security design of investment crowdfunding.

The author exploits a natural experiment, the shale gas boom, to examine households’ consumption, debt, and savings decisions.

Authors present a comprehensive survey of Ponzi schemes on Ethereum, analysing their behaviour and their impact from various viewpoints.

In this paper, the authors investigate the effectiveness of credit scoring models employed by P2P platforms with respect to loan default prediction.

This paper presents nationally representative evidence on Bitcoin awareness and ownership in Canada, revealing that while 64% of Canadians have heard of Bitcoin, only 4% actually own it.

The authors use a unique dataset of 640,000 loan-hour observations to measure the impact of liftoff on interest rates in the peer-to-peer lending segment of the subprime market.

This paper introduces the Dynamic Transaction Document (DTD), a RegTech-powered, automated legal text framework for real-time financial transaction and risk reporting, leveraging distributed ledger technology, algorithmic contract standards (ACTUS), and document engineering methods.

This paper presents a simple estimation of the fair economic cost of proof-of-work in Bitcoin mining and assesses whether current expenditure levels are justified.

Lykke Corp is a fintech company based in Zurich that has launched the first global marketplace for all asset classes and instruments, using the Colored Coin protocol on blockchain.

This paper introduces synzeris, or synthetic zero rate instruments, as programmable monetary tools designed to enhance financial system stability during digital monetary regime changes and debt restructuring processes.

In this paper, the authors gather together the minimum units of Bitcoin identity (the individual addresses), and group them into approximations of business entities, what they call “super clusters”.

The authors show how decentralized individual investments can efficiently allocate capital to innovating firms.

This paper examines the governance of public blockchains by analyzing the de facto power exercised by core software developers and dominant transaction verifiers, and evaluates whether their roles resemble those of legal fiduciaries.

This paper examines how peer-to-peer lending platforms integrate into the German credit market by analyzing borrower motivations, relative interest rates, risk characteristics, and whether P2P loans act as substitutes for or complements to bank credit.

This paper studies how platform-controlled contract pricing in peer-to-peer credit markets affects participant behavior and allocative efficiency when borrowers and lenders are price takers.

This paper develops an economic framework to analyze the exchange rate of virtual currency.

This paper argues that cryptocurrency price instability stems from rigid, inelastic monetary policies that position systems like Bitcoin as digital gold rather than functional money.

The authors monitor the state of the Bitcoin network investigating how fast peers share blocks and transactions among each other, which kind of services they offer and which version of the protocol they used.

This paper assesses the relationship between inclusion and stability in the global financial crisis based on a sample of 75 countries.

This paper assesses the claim that crowdfunding will provide an important contribution to financial development in developing countries.

This paper analyses the peer-to-peer credit market in Germany and examines whether crowdlending complements or substitutes traditional bank lending.

This extended abstract provides the reader with a preliminary overview of the very essential contents of the final version of a paper aimed at “mapping” the main shortcoming that possibly affect the Italian regulatory framework for equity-based crowdfunding.

The Bitcoin Market Potential Index ranks the potential utility of bitcoin across 177 countries to show which countries have the greatest potential to see bitcoin adoption.

The authors use capital injections by the Financial Markets Stabilization Fund of Germany into some banks to identify banks that faced a supply constrained.

Using an extensive dataset from the largest p2p-lending platform in the U.S., the paper provides an empirical framework, contributing to several open questions regarding both platform design and market regulation.

This paper empirically examines determinants of capital raising success including the role played by entrepreneur reputation.

This research explores the opportunities and challenges of implementing Artificial Intelligence (AI) in credit evaluation systems in Latin America, with a specific focus on Uruguay.

This paper discusses a tractable model for the exchange rates of platform tokens that incorporates user demand, investment demand, and buyback pledges.

This paper proposes a regulatory and operational model for the issuance of local stablecoins, aimed at enhancing financial inclusion, operational efficiency, and monetary policy effectiveness without requiring Central Bank Digital Currencies (CBDCs).

This paper examines how central bank digital currencies (CBDCs) in Latin America can modernize monetary policy by directly transmitting interest rates to households and firms, enhancing financial inclusion, exchange rate stability, and policy effectiveness.

The objective of this paper is to analyze the tax and regulatory challenges of the tokenization of natural resources in Uruguay, integrating national regulations with international standards, in order to propose guidelines for its future regulation.

This paper develops a tractable model for the cryptocurrency prices based on the classical framework for rational bubbles.

This study presents a comparative empirical analysis of three major DLT-based DID implementations: Ethereum (Ethr-DID), Hedera (HCS-DID), and XRP Ledger (XLS-40d).

Yield farming is a decentralized finance strategy in which liquidity is provided in exchange for rewards in the form of transaction fees paid by liquidity takers. This paper analyzes transaction costs, returns, and risks using on-chain data from major decentralized exchanges.

The paper studies the evolution of dependency structures for 61 highly capitalised cryptocurrencies during the down-market and we also highlight the absence of herding behaviour analysing cross-sectional absolute deviation of returns.

This paper analyzes data on all 19 million Uniswap interactions from 2018 to the current time. For this new market, we characterize equilibrium liquidity pools and provide evidence that they are stable.

The paper proposes a model of staged nancing where entrepreneurs choose between Initial Coin Oering (ICO) and traditional funding methods such as Venture Capital (VC).

This paper presents a model that rationalizes the use of ICOs for launching platforms and uses a model to provide guidance to regulators: It analyzes under what circumstances ICOs should be banned or allowed, and discusses governance mechanisms that they should include.

This paper identifies, definess and compare the different protocols of distributed consensus for blockchains.

This paper argues that the mapping between identifiers and end-investors should be a market design choice.

This paper reviews Bitcoin as a successful peer-to-peer electronic cash system while highlighting structural limitations that hinder rapid upgrades and long-term evolution.