Academic Journal
Public crypto networks as financial market infrastructures.
| Title: | Public crypto networks as financial market infrastructures. |
|---|---|
| Authors: | Bindseil, Ulrich1 (AUTHOR), Malekan, Omid2 (AUTHOR) |
| Source: | Journal of Payments Strategy & Systems. Winter2025, Vol. 19 Issue 4, p410-426. 17p. |
| Subject Terms: | *Blockchains, *Payment systems, *Financial markets, *Capital market |
| Abstract: | The design of financial instruments and processes is contingent on the infrastructure supporting them. Blockchain technology, as utilised by public crypto networks such as Ethereum, represents a novel type of payment and settlement infrastructure that gives rise to a new generation of solutions. This paper discusses the key properties of this technology, including immediacy, omni-asset capability, programmability and its ability to flatten the financial architecture (disintermediation). We illustrate the distinctive products these features make possible, and have the potential to disrupt current payment and capital market systems. We discuss the utility of blockchain technology in private (permissioned) networks. Finally, we revisit the risks of public crypto networks and their mitigants. This article is also included in the Business & Management Collection which can be accessed at http://hstalks/business. [ABSTRACT FROM AUTHOR] |
| Copyright of Journal of Payments Strategy & Systems is the property of Henry Stewart Publications LLP and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Business Source Index |
| FullText | Text: Availability: 0 |
|---|---|
| Header | DbId: bsx DbLabel: Business Source Index An: 190402879 RelevancyScore: 1451 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 1451.22045898438 |
| IllustrationInfo | |
| Items | – Name: Title Label: Title Group: Ti Data: Public crypto networks as financial market infrastructures. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Bindseil%2C+Ulrich%22">Bindseil, Ulrich</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Malekan%2C+Omid%22">Malekan, Omid</searchLink><relatesTo>2</relatesTo> (AUTHOR) – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Journal+of+Payments+Strategy+%26+Systems%22">Journal of Payments Strategy & Systems</searchLink>. Winter2025, Vol. 19 Issue 4, p410-426. 17p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Blockchains%22">Blockchains</searchLink><br />*<searchLink fieldCode="DE" term="%22Payment+systems%22">Payment systems</searchLink><br />*<searchLink fieldCode="DE" term="%22Financial+markets%22">Financial markets</searchLink><br />*<searchLink fieldCode="DE" term="%22Capital+market%22">Capital market</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: The design of financial instruments and processes is contingent on the infrastructure supporting them. Blockchain technology, as utilised by public crypto networks such as Ethereum, represents a novel type of payment and settlement infrastructure that gives rise to a new generation of solutions. This paper discusses the key properties of this technology, including immediacy, omni-asset capability, programmability and its ability to flatten the financial architecture (disintermediation). We illustrate the distinctive products these features make possible, and have the potential to disrupt current payment and capital market systems. We discuss the utility of blockchain technology in private (permissioned) networks. Finally, we revisit the risks of public crypto networks and their mitigants. This article is also included in the Business & Management Collection which can be accessed at http://hstalks/business. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Journal of Payments Strategy & Systems is the property of Henry Stewart Publications LLP and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsx&AN=190402879 |
| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.69554/tfyw1943 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 17 StartPage: 410 Subjects: – SubjectFull: Blockchains Type: general – SubjectFull: Payment systems Type: general – SubjectFull: Financial markets Type: general – SubjectFull: Capital market Type: general Titles: – TitleFull: Public crypto networks as financial market infrastructures. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Bindseil, Ulrich – PersonEntity: Name: NameFull: Malekan, Omid IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 12 Text: Winter2025 Type: published Y: 2025 Identifiers: – Type: issn-print Value: 17501806 Numbering: – Type: volume Value: 19 – Type: issue Value: 4 Titles: – TitleFull: Journal of Payments Strategy & Systems Type: main |
| ResultId | 1 |