Public crypto networks as financial market infrastructures.

Bibliographic Details
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]
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Database:	Business Source Index

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