Skip to main content Accessibility help
×
Hostname: page-component-586b7cd67f-g8jcs Total loading time: 0 Render date: 2024-11-28T18:35:01.128Z Has data issue: false hasContentIssue false

Part I - Why Pay Attention to Distributed Ledger Technology in Banking?

Published online by Cambridge University Press:  26 October 2023

Sabrina Leo
Affiliation:
Sapienza Università di Roma
Ida Claudia Panetta
Affiliation:
Sapienza Università di Roma
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
The Role of Distributed Ledger Technology in Banking
From Theory to Practice
, pp. 9 - 68
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

References

Bellia, M., Kounelis, I., Anderberg, A., Calès, L., Andonova, E., Sobolewski, M. 2019. Blockchain now and tomorrow: Assessing multidimensional impacts of distributed ledger technologies. Publications Office of the European Union, Luxembourg: European Commission, Joint Research Centre.Google Scholar
Buterin, V. 2014. Ethereum: ‘A next-generation smart contract and decentralized application platform’. White paper. Available online: https://ethereum.org/669c9e2e2027310b6b3cdce6e1c52962/Ethereum_Whitepaper_-_Buterin_2014.pdfGoogle Scholar
Dannen, C. 2017. Introducing Ethereum and solidity. Berkeley: Apress, Vol. 1, 159160Google Scholar
Di Ciccio, C., Meroni, G., Plebani, P. 2022. ‘On the adoption of blockchain for business process monitoring’. Software and Systems Modeling, 21(3), 915937.CrossRefGoogle Scholar
Gaur, N., O’Dowd, A., Novotny, P., Desrosiers, L., Ramakrishna, V., Baset, S. A. 2020. Blockchain with hyperledger fabric: Build decentralized applications using hyperledger fabric 2. Birmingham, UK: Packt Publishing Ltd.Google Scholar
Magazzeni, D., McBurney, P., Nash, W. 2017. ‘Validation and verification of smart contracts: A research agenda’. Computer, 50(9), 5057.CrossRefGoogle Scholar
Mendling, J., Weber, et al. 2018. ‘Blockchains for business process management-challenges and opportunities’. ACM Transactions on Management Information Systems, 9(1), 116.CrossRefGoogle Scholar
Nakamoto, S. 2008. Bitcoin: ‘A peer-to-peer electronic cash system’. Decentralized Business Review, 21260.Google Scholar
Voshmgir, S. 2019. Token economy: How blockchains and smart contracts revolutionize the economy. Berlin, Germany: Shermin Voshmgir-BlockchainHub.Google Scholar
Wood, G. (2014). ‘Ethereum: A secure decentralised generalised transaction ledger’. Ethereum project yellow paper, 151(2014), 132.Google Scholar
Wüst, K., Gervais, A. 2018. ‘Do you need a blockchain?’. 2018 Crypto Valley Conference on Blockchain Technology, 45–54.Google Scholar
Xu, X., Weber, I., Staples, M. 2019. Architecture for blockchain applications. Berlin, Germany: Springer.Google Scholar

References

Adrian, T., Mancini-Griffoli, T. (2019). ‘The Rise of Digital Money’. Fintech Notes, 2019/001, International Monetary Fund, pp. 1–15. Available online: www.imf.org/en/Publications/fintech-notes/Issues/2019/07/12/The-Rise-of-Digital-Money-47097?utm_campaign=BitDigest&utm_medium=email&utm_source=Revue%20newsletterCrossRefGoogle Scholar
Ajouz, M., Abdullah, A., and Kassim, S. 2022. ‘Shari’ah oriented precious metal backed cryptocurrency: From Shari’ah advisors’ and financial experts’ perceptions’, The Singapore Economic Review 67(1): 439–58.CrossRefGoogle Scholar
Akyildirim, E., Corbet, S., Sensoy, A., and Yarovaya, L. 2020. ‘The impact of blockchain related name changes on corporate performance’, Journal of Corporate Finance 65: 101759.Google Scholar
Alexander, C., Choi, J., Massie, H. R. A., and Sohn, S. 2020. ‘Price discovery and microstructure in ether spot and derivative markets’, International Review of Financial Analysis 71: 101506.Google Scholar
Andolfatto, D., and Martin, F. M. 2022. ‘The blockchain revolution: Decoding digital currencies’, Review 104(3): 149–65Google Scholar
Anifa, M., Ramakrishnan, S., Joghee, S., Kabiraj, S., and Bishnoi, M. M. 2022. ‘FinTech innovations in the financial service industry’, Journal of Risk and Financial Management 15(7): 287.Google Scholar
Auer, R., and Tercero-Lucas, D. 2022. ‘Distrust or speculation? The socioeconomic drivers of U.S. cryptocurrency investments’, Journal of Financial Stability 62: 101066.CrossRefGoogle Scholar
Bahoo, S., Alon, I., and Paltrinieri, A. 2020. ‘Corruption in international business: A review and research agenda’, International Business Review 29(4): 101660.Google Scholar
Bataev, A., Plotnikova, E., Lukin, G., and Sviridenko, M. 2020. ‘Evaluation of the economic efficiency of blockchain for customer identification by financial institutions’, IOP Conference Series: Materials Science and Engineering 940(1): 012038.Google Scholar
Becker, M., Merz, K., and Buchkremer, R. 2020. ‘RegTech – The application of modern information technology in regulatory affairs: Areas of interest in research and practice’, Intelligent Systems in Accounting, Finance and Management 27(4): 161–7.Google Scholar
Bhatt, A., Joshipura, M., and Joshipura, N. 2022. ‘Decoding the trinity of Fintech, digitalisation and financial services: An integrated bibliometric analysis and thematic literature review approach’, Cogent Economics and Finance 10(1): 2114160.CrossRefGoogle Scholar
Brauneis, A., Mestel, R., Riordan, R., and Theissen, E. 2022. ‘Bitcoin unchained: Determinants of cryptocurrency exchange liquidity’, Journal of Empirical Finance 69: 106–22.Google Scholar
Cheng, M., Qu, Y., Jiang, C., and Zhao, C. 2022. ‘Is cloud computing the digital solution to the future of banking?’, Journal of Financial Stability 63: 101073.Google Scholar
Chiu, J., and Koeppl, T. V. 2019. ‘Blockchain-based settlement for asset trading’, The Review of Financial Studies 32(5): 1716–53.Google Scholar
Cong, L. W., Li, Y., and Wang, N. 2022. ‘Token-based platform finance’, Journal of Financial Economics 144(3): 972–91.Google Scholar
Cumming, D. J., Johan, S., and Pant, A. 2019. ‘Regulation of the crypto-economy: Managing risks, challenges, and regulatory uncertainty’, Journal of Risk and Financial Management 12(3): 126.Google Scholar
Daluwathumullagamage, D. J., and Sims, A. 2021. ‘Fantastic beasts: Blockchain based banking’, Journal of Risk and Financial Management 14(4): 170.Google Scholar
Ding, S., Cui, T., Wu, X., and Du, M. 2022. ‘Supply chain management based on volatility clustering: The effect of CBDC volatility’, Research in International Business and Finance 62: 101690.Google Scholar
Droll, T., and Minto, A. 2022. ‘Hare or hedgehog? The role of law in shaping current technological trends in the securities post-trading system’, Accounting, Economics, and Law: A Convivium. 146.Google Scholar
Druhov, O., Druhova, V., and Pakhnenko, O. 2019. ‘The influence of financial innovations on EU countries banking systems development’, Marketing and Management of Innovations (3): 167–77.CrossRefGoogle Scholar
Duran, R. E., and Griffin, P. 2021. ‘Smart contracts: Will Fintech be the catalyst for the next global financial crisis?’, Journal of Financial Regulation and Compliance 29(1): 104–22.Google Scholar
Dutta, A., Kumar, S., and Basu, M. 2020. ‘A gated recurrent unit approach to bitcoin price prediction’, Journal of Risk and Financial Management 13(2): 23.CrossRefGoogle Scholar
Fauzi, M. A., Paiman, N., and Othman, Z. 2020. ‘Bitcoin and cryptocurrency: Challenges, opportunities and future works’, The Journal of Asian Finance, Economics and Business 7(8): 695704.Google Scholar
Festa, G., Elbahri, S., Cuomo, M. T., Ossorio, M., and Rossi, M. 2022. ‘FinTech ecosystem as influencer of young entrepreneurial intentions: Empirical findings from Tunisia’, Journal of Intellectual Capital, 24(1): 205–6.Google Scholar
Golubev, A., Ryabov, O., and Zolotarev, A. 2020. ‘Digital transformation of the banking system of Russia with the introduction of blockchain and artificial intelligence technologies’, IOP Conference Series: Materials Science and Engineering 940(1): 012041.Google Scholar
Grassi, L., and Lanfranchi, D. 2022. ‘RegTech in public and private sectors: The nexus between data, technology and regulation’, Journal of Industrial and Business Economics 49(3): 441–79.Google Scholar
Howell, S. T., Niessner, M., and Yermack, D. 2020. ‘Initial coin offerings: Financing growth with cryptocurrency token sales’, The Review of Financial Studies 33(9): 3925–74.Google Scholar
Hsieh, Y.-Y., Vergne, J.-P., Anderson, P., Lakhani, K., and Reitzig, M. 2018. ‘Bitcoin and the rise of decentralised autonomous organisations’, Journal of Organisation Design 7(1): 14.CrossRefGoogle Scholar
Huibers, F. 2021. ‘Distributed ledger technology and the future of money and banking: Banking is necessary, banks are not. Bill Gates 1994’, Accounting, Economics, and Law: A Convivium 20190095.Google Scholar
Ibrahim, I. A., and Truby, J. 2022. ‘Governance in the era of blockchain technology in Qatar: A roadmap and a manual for trade finance’, Journal of Banking Regulation 23(4): 419–38.Google Scholar
Ivashchenko, A., Polishchuk, Y., and Britchenko, I. 2018. ‘Implementation of ICO European best practices by SMEs’, Economic Annals-XXI 169(1–2): 6771.Google Scholar
Jantoń-Drozdowska, E., and Mikołajewicz-Woźniak, A. 2017. ‘The impact of the distributed ledger technology on the Single Euro Payments Area development’, Equilibrium 12(3): 519–35.Google Scholar
Kang, K.-Y. 2022. ‘Cryptocurrency and double spending history: Transactions with zero confirmation’, Economic Theory, 75(2): 453–91.Google Scholar
Khan, A., Goodell, J. W., Hassan, M. K., and Paltrinieri, A. 2022. ‘A bibliometric review of finance bibliometric papers’, Finance Research Letters 47: 102520.Google Scholar
Kucheryavenko, M. P., Dmytryk, O. O., and Golovashevych, O. O. 2019. ‘Cryptocurrencies: Development, features and classification’, Financial and Credit Activity Problems of Theory and Practice 3(30): 371–74.Google Scholar
Kumari, A., and Devi, N. C. 2022. ‘The impact of FinTech and blockchain technologies on banking and financial services’, Technology Innovation Management Review 12(1/2): 111.Google Scholar
Kunhibava, S., Mustapha, Z., Muneeza, A., Sa’ad, A. A., and Karim, M. E. 2021. ‘Ṣukūk on blockchain: A legal, regulatory and Sharı̄’ah review’, ISRA International Journal of Islamic Finance 13(1): 118–35.Google Scholar
Lee, J., Li, T., and Shin, D. 2022. ‘The wisdom of crowds in FinTech: Evidence from initial coin offerings’, The Review of Corporate Finance Studies 11(1): 146.Google Scholar
Luo, H., and Yan, D. 2022. ‘Blockchain architecture and its applications in a bank risk mitigation framework’, Economic Research-Ekonomska Istraživanja 35(1): 3119–37.Google Scholar
Masiak, C., Block, J. H., Masiak, T., Neuenkirch, M., and Pielen, K. N. 2020. ‘Initial coin offerings (ICOs): Market cycles and relationship with bitcoin and ether’, Small Business Economics 55(4): 1113–30.CrossRefGoogle Scholar
Matsepe, N. T., and Van der Lingen, E. 2022. ‘Determinants of emerging technologies adoption in the South African financial sector’, South African Journal of Business Management 53(1): 112.CrossRefGoogle Scholar
Melnychenko, S., Volosovych, S., and Baraniuk, Y. 2020. ‘Dominant ideas of financial technologies in digital banking’, Baltic Journal of Economic Studies 6(1): 92.Google Scholar
Oh, J., and Shong, I. 2017. ‘A case study on business model innovations using blockchain: Focusing on financial institutions’, Asia Pacific Journal of Innovation and Entrepreneurship 11(3): 335–44.CrossRefGoogle Scholar
Olsen, R., Battiston, S., Caldarelli, G., Golub, A., Nikulin, M., and Ivliev, S. 2018. ‘Case study of Lykke exchange: Architecture and outlook’, The Journal of Risk Finance 19(1): 2638.Google Scholar
Paul, J., and Criado, A. R. 2020. ‘The art of writing literature review: What do we know and what do we need to know?’, International Business Review 29(4): 101717.Google Scholar
Pele, D. T., Wesselhöfft, N., Härdle, W. K., Kolossiatis, M., and Yatracos, Y. G. 2021. ‘Are cryptos becoming alternative assets?’, The European Journal of Finance 143.Google Scholar
Rejeb, A., Rejeb, K., and Keogh, J. G. 2021a. ‘Cryptocurrencies in modern finance: A literature review’, ETIKONOMI 20(1): 93118.Google Scholar
Rejeb, A., Rejeb, K., and Keogh, J. G. 2021b. ‘Centralised vs. decentralised ledgers in the money supply process: A SWOT analysis’, Quantitative Finance and Economics, 5(1): 4066.Google Scholar
Routledge, B., and Zetlin-Jones, A. 2022. ‘Currency stability using blockchain technology’, Journal of Economic Dynamics and Control 142: 104155.Google Scholar
Rrustemi, J., and Tuchschmid, N. S. 2020. ‘Fundraising campaigns in a digital economy: Lessons from a Swiss synthetic diamond venture’s initial coin offering (ICO)’, Technology Innovation Management Review 10(6): 5363.Google Scholar
Rrustemi, J., and Tuchschmid, N. S. 2021. ‘Facebook’s digital currency venture “diem”: The new frontier … or a galaxy far, far away?’, Technology Innovation Management Review 10(12): 1930.Google Scholar
Schär, F. 2021. ‘Decentralised finance: On blockchain- and smart contract-based financial markets’, Review 103(2):153–74.Google Scholar
Schwarze, R., and Sushchenko, O. 2022. ‘Climate insurance for agriculture in Europe: On the merits of smart contracts and distributed ledger technologies’, Journal of Risk and Financial Management 15(5): 211.Google Scholar
Stefan, C. 2018. ‘Tales from the crypt: Might cryptocurrencies spell the death of traditional money? – A quantitative analysis’, Proceedings of the International Conference on Business Excellence 12(1): 918–30.Google Scholar
Teresiene, D. 2018. ‘Central banks’ responses to virtual currencies: An overview’, in International Conference on Economics, Finance and Statistics, Topics in Economics, Business and Management, pp. 60–65. Volkson Press.Google Scholar
Uyduran, B. 2020. ‘The crypto effect on cross border transfers and future trends of cryptocurrencies’, Financial Internet Quarterly 16(4): 1223.Google Scholar
Yatsyk, T., and Shvets, V. 2020. ‘Cryptoassets as an emerging class of digital assets in the financial accounting’, Economic Annals-XXI 183(5–6): 106–15.Google Scholar
Yoo, S. 2017. ‘Blockchain based financial case analysis and its implications’, Asia Pacific Journal of Innovation and Entrepreneurship 11(3): 312–21.CrossRefGoogle Scholar
Yoshino, N., Schloesser, T., and Taghizadeh‐Hesary, F. 2021. ‘Social funding of green financing: An application of distributed ledger technologies’, International Journal of Finance and Economics 26(4): 6060–73.Google Scholar
Zadorozhnyi, Z.-M. V., Muravskyi, V. V., and Shevchuk, O. A. 2018. ‘Management accounting of electronic transactions with the use of cryptocurrencies’, Financial and Credit Activity Problems of Theory and Practice 3(26): 169–77.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×