Can securities be settled on a blockchain, and, if so, what are the gains relative to existing settlement systems? The main benefit of a blockchain is faster and more fle[...]

How well can a cryptocurrency serve as a means of payment? Cryptocurrencies need to overcome double‐spending by costly mining and by delaying settlement. We formalize thi[...]

In this viewpoint article, we provide an analysis of the value proposition of decentralized finance (DeFi) and its limitations using a simple stylized model of collateral[...]

A blockchain is a digital ledger that keeps track of a record of ownership without the need for a designated party to update and enforce changes to the record. The updati[...]

Why do BigTech platforms introduce payment services? And do their users benefit? Digital platforms often run business models where activities on the platform generate dat[...]

Replication Data and Code for: "The Economics of Cryptocurrencies -- Bitcoin and Beyond"

Replication data for peer-reviewed article published in Canadian Journal [...]

The data and programs replicate tables and figures from "Grasping De(centralized) Fi(nance) through the Lens of Economic Theory" by Chiu, Kahn, and Koeppl. Please see the[...]

We study trading dynamics in an asset market where the quality of assets is private information and finding a counterparty takes time. When trading ceases in equilibrium [...]

We study the trading dynamics in an asset market where the quality of assets is private information of the owner and finding a counterparty takes time. When trading of a [...]

Can Bitcoin remain tamper-proof in the long run? We use block-level data from the Bitcoin blockchain to estimate the impact of congestion and the US dollar price on fee r[...]