The Palgrave Handbook of Technological Finance PDF Download
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Author: Raghavendra Rau
Publisher: Springer Nature
ISBN: 3030651177
Category : Business & Economics
Languages : en
Pages : 888
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Book Description
This handbook provides the first comprehensive overview of the fast-evolving alternative finance space and makes a timely and in-depth contribution to the literature in this area. Bringing together expert contributions in the field from both practitioners and academics, in one of the most dynamic parts of the financial sector, it provides a solid reference for this exciting discipline. Divided into six parts, Section 1 presents a high-level overview of the technologically-enabled finance space. It also offers a historical perspective on technological finance models and outlines different business models. Section 2 analyses digital currencies including guides to bitcoins, other cryptocurrencies, and blockchains. Section 3 addresses alternative payment systems such as digital money and asset tokenization. Section 4 deals with crowdfunding models from both a theoretical perspective and from a regulatory perspective. Section 5 discusses data-driven business models and includes a discussion of neural networks and deep learning. Finally, Section 6 discusses welfare implications of the technological finance revolution. This collection highlights the most current developments to date and the state-of-the-art in alternative finance, while also indicating areas of further potential. Acting as a roadmap for future research in this innovative and promising area of finance, this handbook is a solid reference work for academics and students whilst also appealing to industry practitioners, businesses and policy-makers.
Author: Raghavendra Rau
Publisher: Springer Nature
ISBN: 3030651177
Category : Business & Economics
Languages : en
Pages : 888
Get Book Here
Book Description
This handbook provides the first comprehensive overview of the fast-evolving alternative finance space and makes a timely and in-depth contribution to the literature in this area. Bringing together expert contributions in the field from both practitioners and academics, in one of the most dynamic parts of the financial sector, it provides a solid reference for this exciting discipline. Divided into six parts, Section 1 presents a high-level overview of the technologically-enabled finance space. It also offers a historical perspective on technological finance models and outlines different business models. Section 2 analyses digital currencies including guides to bitcoins, other cryptocurrencies, and blockchains. Section 3 addresses alternative payment systems such as digital money and asset tokenization. Section 4 deals with crowdfunding models from both a theoretical perspective and from a regulatory perspective. Section 5 discusses data-driven business models and includes a discussion of neural networks and deep learning. Finally, Section 6 discusses welfare implications of the technological finance revolution. This collection highlights the most current developments to date and the state-of-the-art in alternative finance, while also indicating areas of further potential. Acting as a roadmap for future research in this innovative and promising area of finance, this handbook is a solid reference work for academics and students whilst also appealing to industry practitioners, businesses and policy-makers.
Author: Mert Ozgur
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This thesis canvasses how the United States, France, and the European Union have approached the issue of whether ICOs should be considered securities offerings for the purpose of applying securities law. It analyzes the existing legal frameworks in the United States and France as well as prospective laws and regulations that are currently being discussed by the United States Congress and the French Parliament. In both countries, legislators have refrained from legislating on the subject, which has contributed to legal uncertainty. Nevertheless, some laws were passed fairly early on in order to stop the proliferation of ICOs. At this stage, however, prospective legislation is being proposed to replace existing, prohibitive laws, which would create conditions that are more conducive to ICOs.
Author: Dmitri Boreiko
Publisher: Edward Elgar Publishing
ISBN: 1803921587
Category : Business & Economics
Languages : en
Pages : 275
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Book Description
Delving into the comprehensive evolution of Initial Coin Offerings (ICOs), this innovative book traces their origins and transition into modern forms such as Security Token Offerings, Initial Exchange Offerings, Initial DEX Offerings, and Non-Fungible Tokens. It provides an in-depth analysis of the factors behind the appeal of ICOs, the complex ecosystem surrounding them, and the key developments within the blockchain and cryptocurrency space.
Author: Dominika Nestarcova
Publisher: BRILL
ISBN: 9004416587
Category : Law
Languages : en
Pages : 177
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Book Description
A Critical Appraisal of Initial Coin Offerings: Lifting the “Digital Token’s Veil” examines the merits of regulating initial coin offerings under traditional securities regulations and provides and in-depth analysis of digital tokens as a new asset class.
Author: United States. Securities and Exchange Commission
Publisher:
ISBN:
Category : Securities
Languages : en
Pages : 358
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Book Description
Author: Thijs Maas
Publisher:
ISBN:
Category :
Languages : en
Pages : 77
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Book Description
This article presents a comparative analysis of the application of US and EU securities laws to initial coin offerings (ICOs), or token sales. An extensive token taxonomy framework is proposed to categorize digital assets in order to advance a more precise discussion on the legal classification and regulation of tokens. For the US, a full analysis of the application of the Howey test to different types of tokens gives insight into classification of tokens as a security (“investment contract”) under Section 2(a)(1) of the US Securities Act of 1933 and 3(a)(10) of the Securities Exchange Act of 1934. The analysis shows that most, if not all, so-called utility tokens can be classified as a security in the US. A possible 'sufficiency-of-decentralization-test' is also explored, while taking prior case law and the multiple dimensions of decentralization of blockchain projects into account. For EU financial law, the analysis in this paper focuses on the classification of tokens as 'transferable securities' under Art. 4(1)(44) of MIFiD II. The analysis shows that, in contrast to the US, pure utility tokens might not be deemed transferable securities under the EU securities regime. Across EU Member States however, large differences exist in terms of the legal classification of most tokens, which result from the freedom provided to EU Member States in transposing the MIFiD II definition of transferable securities into national law. The analysis in this paper provides insight into the two main approaches adhered to by EU Member States in the implementation of this definition, as well as their consequences for the legal classification of tokens. Conclusions are subsequently drawn on possible offering strategies adopted by issuers for future token sales and regulatory developments in the US and EU.
Author: Stéphane Goutte
Publisher: Springer Nature
ISBN: 3030307387
Category : Business & Economics
Languages : en
Pages : 202
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Book Description
This book describes how the rapid advancement in encryption and network computing gave birth to new tools and products that have influenced the local and global economy alike. One recent and notable example is the emergence of virtual currencies (such as Bitcoin) also known as cryptocurrencies. Virtual currencies introduced a fundamental transformation that affected the way goods, services and assets are exchanged. As a result of its distributed ledgers based on blockchain, cryptocurrencies not only offer some unique advantages to the economy, investors, and consumers, but also pose considerable risks to users and challenges for regulators when fitting the new technology into the old legal framework. The core of this proposed book is to present and discuss the evidence on financial asset capabilities of virtual currencies. The contributors of this volume analyze several interesting and timely issues such as the particularities of virtual currencies and their statistical characteristics; the diversification benefits of virtual currencies; the behavior and dependence structure between virtual currencies and the financial markets; the economic implications of virtual currencies, their effects, their price risk, and contagion spillovers in a unified and comprehensive framework; the future of virtual currencies and their distributed ledgers technology.
Author: DMITRI. BOREIKO
Publisher:
ISBN: 9781803921570
Category :
Languages : en
Pages : 0
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Book Description
Delving into the comprehensive evolution of Initial Coin Offerings (ICOs), this innovative book traces their origins and transition into modern forms such as Security Token Offerings, Initial Exchange Offerings, Initial DEX Offerings and Non-Fungible Tokens. It provides an in-depth analysis of the factors behind the appeal of ICOs, the complex ecosystem surrounding them, and the key developments within the blockchain and cryptocurrency space. Countering common misconceptions such as equating ICOs with fraud, Dmitri Boreiko emphasizes the need for robust regulation in the field. Chapters explore the economics of ICOs, offer practical research guidance and navigate the complexities of ICO regulation. The book concludes by highlighting emerging mechanisms in blockchain fundraising, focusing on the increased security, transparency, and flexibility of newer mechanisms. Concise and incisive, this is a timely read for economics students focusing on ICOs and blockchain applications, as well as fintech more broadly. Written in an accessible style, blockchain practitioners, investors and entrepreneurs, and start-ups in tech will also find this to be an interesting read.
Author: Oscar Bruderer
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Initial Coin Offerings (ICOs) have been gaining popularity as an alternate way of funding through the issuance of tokens on a blockchain network. While this new technology has the potential to fundamentally alter the way in which the capital market operates, there is a lot of confusion as to what a token actually is and how it should be regulated. Since the tokens used in ICOs come in a variety of shapes and sizes, their status under securities laws is often unclear. For this reason, this paper will investigate whether different types of tokens used in ICOs fall under the definition of a security under Swiss, EU, and U.S. securities laws in order to ultimately determine how they should be regulated in the U.S. Based on legal analysis, we find that while the three nations define a security differently, they all struggle to set the boundaries in the case of utility tokens. Whereas Switzerland has the clearest regulation in this regard, U.S. securities laws are by far the most ambiguous when it comes to defining the legal status of a utility token. Finally, for tokens that meet the definition of a security, this paper argues that current securities regulations in the U.S. are not apt for facilitating the growth of ICOs. Therefore, the Securities and Exchange Commission should: (1) provide more clarity as to how they will regulate token sales, (2) create a safe harbor for token exchanges, and (3) create an exemption for token sales. Not doing so would prompt issuers from leaving to another jurisdiction which would make ICOs harder to regulate, chill innovation, and cause the U.S. to lose their spot as a global hub for this new form of raising capital.
Author: Umit Hacioglu
Publisher: Springer Nature
ISBN: 3030252752
Category : Business & Economics
Languages : en
Pages : 568
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Book Description
This book discusses various aspects of blockchains in economic systems and investment strategies in crypto markets. It first addresses the topic from a conceptual and theoretical point of view, and then analyzes it from an assessment and investment angle. Further, it examines the opportunities and limitations of the taxation of crypto currency, as well as the political implications, such as regulation of speculation with crypto currencies. The book is intended for academicians and students in the fields of economics and finance.
