Search results for "Crypt"
showing 10 items of 1111 documents
Intrinsic value in crypto currencies
2021
Abstract Over the last years, cryptocurrencies have acquired a growing social and economic interest. The most representative features of this new phenomenon are strong price increases and high volatility. The investigations developed in this field are not excessively numerous nor unanimous. Some researches consider this phenomenon to be a bubble, since they don't agree that the price pattern of the cryptocurrencies is justified or explained by their intrinsic value. The present article aims to provide a theoretical framework for the assessment of these new realities embodied by cryptocurrencies. We have created a model which differentiates two types of cryptocurrencies: the cryptocurrencies…
What factors drive returns on initial coin offerings?
2020
Abstract In recent years, initial coin offerings (ICOs) have received considerable attention as a new form of crowdfunding. Because of the rapid growth in their popularity, ICOs have become a prominent research topic. However, the lack of knowledge about the nature of this kind of financial operation inevitably raises several important unanswered questions. This study starts by providing a comprehensive description of the characteristics, benefits, and risks associated with ICOs. Then, using a panel data set comprising daily information for 125 ICOs (44,217 observations gathered from December 2017 to December 2018), this study explores the influence of the ICO presale period, ICO category, …
Cryptocurrency as an Investment Instrument in a Modern Financial Market
2019
This paper considers the development of attractive strategies featuring cryptocurrency assets, considering their costs and potential risks. The object of analysis in this paper is cryptocurren- cy as an investment instrument. The main hypothesis of the research is that modern portfolio theory can be applied to cryptocurrency investments to design an investment portfolio with appropriate risk and profitability characteristics. The authors of the paper: (i) place crypto- currencies in the context of modern financial market and financial technology development; (ii) develop assessment criteria for determining attractiveness of individual cryptocurrencies; and (iii) develop recommendations for …
Speculation and Lottery-Like Demand in Cryptocurrency Markets
2020
This is the first paper that explores lottery-like demand in cryptocurrency markets. Since recent research provides evidence that cryptocurrency returns are rather short-memory processes in their nature, we modify Bali et al.’s (2011, 2017) MAX measure and employ a weekly forecast horizon and last week’s daily log-returns for calculating the metric for our portfolio sorts. From an econometric point of view, this study proposes statistical tests that are robust to unknown dynamic dependency structures in the cryptocurrency data. Our results show that average raw and risk adjusted return differences between cryptocurrencies in the lowest and highest MAX deciles exceed 1.50% per week. These re…
Kriptovalūtas izpratne un bažas par jaunākajām paaudzēm
2021
Autore šajā pētījumā analizē pašreizējo izpratni kriptovalūtu pasaulē un digitālās valūtas drošības stāvokli, un pētījuma mērķis ir atbildēt uz jautājumu, vai cilvēki ir informēti par kriptonauda un vai tā ir pietiekami droša lietošanai dienā vai nē dienas laikā kā viens no oficiālajiem maksājumu pakalpojumiem un lai atbildētu uz šo jautājumu, autore ir analizējusi teorētiskās koncepcijas, kas saistītas ar kriptovalūtu, un izstrādājusi anketu, lai to nosūtītu gan darbinieku, gan pašreizējās paaudzes studentu paraugam, lai iegūtu izpratnes perspektīvu un viņu komfortu par valūtas drošību tika veikta arī intervija ar vienu no apmaiņā strādājošajiem ekspertiem, lai uzzinātu uzņēmumu un organiz…
Cryptocurrency and its taxation
2022
Since 2008, the emergence of the cryptocurrency market has had a considerable influence on the financial sector and the economy as a whole, including the rise of blockchain technology and the production and presence of new types and numbers of cryptocurrencies. Many researchers recognize the significance and benefits of the cryptocurrency market for the global economic system; however, global economies are less welcoming because blockchain technology allows cryptocurrency to remain unregulated by regulators due to its high anonymity and decentralization, potentially leading to increased opportunities for illegal money circulation. Regulators across the world are discussing whether and how t…
Cryptocurrencies in the Light of Money Definitions
2020
Purpose: The aim of the article is to attempt to assess the phenomenon of digital currencies through the prism of existing money definitions as well as to determine to what extent the existing definitions of money are able to answer the question whether private decentralized digital currencies are money in the traditional sense or are they a completely new phenomenon that cannot be put in the framework of previous definitions of money. Design/methodology/approach: This study provides a critical literature review of the cryptocurrency’s definitions in comparison to traditional money definition. The literature review was intended to determine whether bitcoin could be treated as money. Finding…
Cryptocurrency Perception Within Countries: A Comparative Analysis
2020
Purpose: The paper explores the differences between countries concerning perception and use of traditional and virtual money. We try to answer the question who uses virtual money for investment and building assets and who uses it just for Internet payments. The background of the analysis are significant changes that have taken place in the virtual money market in recent years in relation to changes in the global financial market. Design/methodology/approach: A pilot study was conducted in Poland, the Russian Federation, and China, which is supposed to be an introduction to the bigger and wider survey. It was conducted within December 2019 and January 2020 with 81 surveyed persons. These wer…
Using Blockchain in Digitalizing Enterprise Legacy Systems: An Experience Report
2021
Blockchain technology and distributed ledger technology (DLT) offer a secure, distributed, and tamper-proof way to store and exchange information. However, apart from standard cryptocurrency-based networks, innovations and process improvements based on the blockchain technology have mostly remained on the conceptualizing stage and have not yet reached mass adoption. There is a high demand for practical experiences from developing blockchain and DLT based systems in various domains outside FinTech. This work seeks to contribute to this gap by presenting real-world experiences from developing a proof of concept for automatizing conditional payments in social benefits and healthcare domains. W…
Autologous adipose-derived stromal vascular fraction and platelet concentrates for the treatment of complex perianal fistulas
2022
Abstract Background Complex perianal fistulas are a major challenge for modern surgery since 10–35% of patients have functional problems after treatment. Sphincter-saving techniques have a wide range of efficacy (10–80%). We hypothesised that autologous adipose-derived stromal vascular fraction in combination with platelet rich plasma is a new therapeutic strategy with enhanced cure and function preservation rates. Methods Adult patients with complex cryptoglandular perianal fistulas were treated with injection of autologous adipose-derived stromal vascular fraction in combination with platelet rich plasma around and inside the fistulous tract between May 2018 and April 2019 at the General …