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Cryptofinance and Mechanisms of Exchange

The Making of Virtual Currency

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  • © 2019

Overview

  • Comprehensively analyzes the making of virtual currencies, including investment and governance issues and future trends
  • Provides an in-depth mathematical development of several aspects of virtual currencies such as modelling volatility and modelling the demand for virtual currencies
  • Combines qualitative and quantitative discussions about virtual currencies
  • Provides the latest developments and trends on three important axes/aspects involving virtual currencies and Blockchain technology: Investment, Legal and Future trends and prospects
  • To reinforce key concepts, each chapter ends with a list of discussion questions and a brief discussion of main lessons learned

Part of the book series: Contributions to Management Science (MANAGEMENT SC.)

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Table of contents (11 chapters)

Keywords

About this book

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.

Editors and Affiliations

  • CEMOTEV, University Paris-Saclay, Versailles, France

    Stéphane Goutte

  • IPAG Business School, Paris, France

    Khaled Guesmi

  • Telfer School of Management, University of Ottawa, Ottawa, Canada

    Samir Saadi

About the editors

DR. Khaled Guesmi is a full Professor of Finance at Paris School of Business and adjunct professor at Telfer School of Management, University of Canada. He undertakes research and lectures on empirical finance, applied time-series econometrics, and commodity markets. Dr. Guesmi obtains his HDR (Habilitation for Supervising Doctoral Research) in in July 2015. He holds his Ph.D. in Economics from the University Paris Nanterre in 2011, and his M.Sc. in Finance from Paris I University of Sorbonne in 2005. Previously, he served as Professor of Finance and Head of Environment, Climate Change and Energy Transition Chair at IPAG Business School, as associate research positions at “EconomiX” laboratory at the University of Paris Ouest La Défense and "ERF" Economic Research Forum, Egypt. In 2003 Dr. Guesmi joined the UNESCO as a Research Manager, and in 2008, he joined “Caisse de Dépôts et Consignations” as Financial Analyst.

He has published articles in leading refereed journals, including the Energy JournalInternational Review of Financial Analysis; Journal of International Financial Markets, Institutions & Money, Annals of Operations Research, Energy Economics and Energy Policy. Furthermore, Dr. Guesmi currently serves as Associate Editor at Finance Research Letters, as international advisory board at The International Spectator. In addition, Khaled Guesmi is the founder of the International Symposium on Energy and Finance Issues and the Project Manager of European Commission’s Horizon 2020 Program for Research and Innovation. Dr. Khaled Guesmi hold the 4th best world researcher in Energy Finance: Frontiers and Future Development in Beijing in 2018.


Stéphane Goutte has two PhDs, one in Mathematics and one in Economics. He got his Habilitation for Supervising Scientific Research (HDR) in 2017 at University Paris Dauphine. He is Associate Professor at University Paris 8 and senior lecturer at University of Luxembourg. He is a Senior Editor of Finance Research Letters (FRL), an Associate Editor of International Review of Financial Analysis (IRFA) and Research in International Business and Finance (RIBAF), a Subject Editor of Journal of International Financial Markets, Institutions and Money (JIFMIM) and an Editorial member of European Management Review (EMR). His interests lie in the area of mathematical finance and econometric applied in energy, commodities or environmental issues. He published more than fourty research papers in international review including the Energy Economics; Energy Policy; Applied Mathematical Finance; Stochastic Processes and their Applications; Journal of Computational Finance; International Review of Financial Analysis; Journal of International Financial Markets, Institutions & Money; Annals of Operations Research; Applied Economics; Finance Research Letters. He was a guest-editor of special issue of international  peer-reviewed journals and editor of many handbooks. He is the recipient of best paper awards, and various prestigious awards. He was a Visiting Professor at world leading research-intensive institutions.

 

Dr. Samir Saadi is an Associate Professor and Telfer Fellow in Behavioral Finance at Telfer School of Business. He received a Ph.D. from Smith School of Business of Queen’s University. Before joining the University of Ottawa, he was a Visiting Scholar at world leading research-intensive institutions such as Stern School of Business of New York University and INSEAD (France). He held several external grants from, among others, the Social Sciences and Humanities Research Council of Canada (SSHRC). His current research funded by SSHRC focuses on how social media influences investors' behaviour. Along with several book chapters, Dr. Saadi has published over 50 academic papers in refereed journals such us Financial Management, Journal ofCorporate Finance, Journal of Banking and Finance, Journal of Financial Research, Contemporary Accounting Research, Journal of Business Ethics, and Journal of Business Finance and Accounting. He is an Editor of Finance Research Letters and has been Guest Editor of several special issues of peer-reviewed journals, and keynote speaker in several international conferences. He is the recipient of best paper awards, and various prestigious awards from, among others, the SSHRC, the Europlace Institute of Finance, and the American Finance Association.

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