Blockchain in Finance
DOI:
https://doi.org/10.33119/SIP.2019.173.5Keywords:
financial system, settlement system, blockchain technology, scattered registersAbstract
This paper starts a discussion on the use of blockchain network in finance and on the current evolution of the financial system. It systemises information relating to scattered registers in finance. The goal of the paper is to draw attention to the possible changes in the way settlements are made between financial institutions. The author based his analysis on existing literature, scientific papers, and Internet sources related to the use of blockchain technology in finance. He hopes that discussion on this issue will trigger a series of papers and analyses devoted to blockchain network in finance and over time the technology will be implemented at international scale.
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2. Barclays [2015], Taylor S., Blockchain: Understanding the Potential, www.barclayscorporate. com/content/dam/corppublic/corporate/Documents/insight/blockchain_understanding_
the_potential.pdf [dostęp 15.12.2018].
3. Beck T., Al-Hussainy E. [2015], Financial Structure Dataset, revised September 2015, World Bank, Washington DC.
4. Bonneau J., Miller A., Clark J., Narayanan A., Kroll J. A., Felten E. W. [2015], Sok: Research Perspectives and Challenges for Bitcoin and Cryptocurrencies, Security and Privacy (SP), 2015
IEEE Symposium, s. 104–121.
5. Brown R. G., Carlyle J., Grigg I., Hearn M. [2016], Corda: An Introduction, R3 CEV, August, 2016.
6. CCN [2014], Evidence That Transaction Malleability Did Not Bankrupt Mt. Gox, cryptocoinsnews. com/malleability-bankrupt-mt-gox [dostęp 15.12.2018].
7. Conte de Leon D., Stalick A. Q., Jillepalli A. A., Haney M. A., Sheldon F. T. [2017], Blockchain: Properties and Misconceptions, „Asia Pacific Journal of Innovation and Entrepreneurship”,
11 (3), s. 286–300.
8. Corbet S., Lucey B., Peat M., Vigne S. [2018], Bitcoin Futures—What use are they?, „Economics Letters”, 172, s. 23–27.
9. Crane D. B., Froot K. A., Mason S. P., Perold A. F., Merton R. C., Bodie Z., Sirri E. R., Tufano P. [1995], The Global Financial System. A Functional Perspective, Harvard Business School Press,
Boston.
10. Davidson S., De Filippi P., Potts J. [2016], Economics of Blockchain, Social Science Research Network.
11. Dikariev H., Miłosz M. [2018], Technologia blockchain i jej zastosowania, „Journal Computer Sciences Institute”, JCSI 6 (2018), s. 59–61.
12. Extance A. [2015], Bitcoin and Beyond, „Nature”, no. 526.
13. Foroglou G., Tsilidou A-L. [2015], Further Applications of the Blockchain, University of Macedonia, Conference Paper, Conference: 12th Student Conference on Managerial Science and
Technology, At Athens.
14. FT [2016], Big Banks Plan to Coin New Digital Currency, www.ft.com/content/1a962c-16-6952-11e6‑ae5b-a7cc5dd5a28c [dostęp 15.12.2018].
15. Glotov V. I., Mihailov D. M. [2018], What are the Technical Means the State Prepare for the Regulation of the Cryptocurrencies?, „KnE Social Sciences”, 3 (2), s. 583–592.
16. Guo Y., Liang C. [2016], Blockchain Application and Outlook in the Banking Industry, „Financial Innovation”, 2 (1), 24.
17. Hassani H., Huang X., Silva E. [2018], Banking with Blockchain-ed Big Data, „Journal of Management Analytics”, 5 (4), s. 256–275.
18. Ikeda K., Hamid M. N. [2018], Applications of Blockchain in the Financial Sector and a Peer-to-peer Global Barter Web, „Advances in Computers”, Vol. 111, s. 99–120.
19. Klinger B., Szczepański J. [2017], Blockchain – historia, cechy i główne obszary zastosowań, „Człowiek w cyberprzestrzeni”, 1.
20. Kobiela-Pionnier K. [2014], Rachunkowość w epoce Bitcoina, Współczesne problemy rachunkowości w teorii i praktyce, Wydawnictwo UWM, Olsztyn, s. 153–165.
21. Król A. [2017], Czy blockchain zmieni świat?, „Bank”, nr 3, s. 80–81.
22. Loebbecke C., Lueneborg L., Niederle D. [2018], Blockchain Technology Impacting the Role of Trust in Transactions: Reflections in the Case of Trading Diamonds, European Conference on Information Systems (ECIS).
23. Mainelli M., Milne A. [2016], The Impact and Potential of Blockchain on the Securities Transaction Lifecycle, „SWIFT Institute Working Paper”, No. 2015–007.
24. Mazonka O. [2016], Blockchain: Simple Explanation, „Journal of Reference”, 29.
25. Matysek-Jędrych A. [2007], System finansowy – definicja i funkcja, „Bank i Kredyt”, nr 10/2007, s. 38–50.
26. McKinsey [2016], Blockchain – Disrupting the Rules of the Banking Industry, www.mckinsey.com/industries/high-tech/our-insights/how-blockchains-could-change-the-world [dostęp
14.12.2018].
27. Middlebrook S. T., Hughes S. J. [2013], Regulating Cryptocurrencies in the United States: Current Issues and Future Directions, „William Mitchell Law Review”, 40, 813.
28. Nakamoto S. [2008], Bitcoin: A Peer-to-Peer Electronic Cash System, www.bitcoin.org [dostęp 15.12.2018].
29. Peters G. W., Panayi E. [2016], Understanding Modern Banking Ledgers Through Blockchain Technologies: Future of Transaction Processing and Smart Contracts on the Internet of Money, w: Banking Beyond Banks and Money, red. P. Tasca, T. Aste, L. Pellizon, N. Perony, Springer, Cham., s. 239–278.
30. Polański Z. [2004], Wprowadzenie. System finansowy we współczesnej gospodarce rynkowej, w: System finansowy w Polsce, red. B. Pietrzak, Z. Polański, B. Woźniak, Wydawnictwo
Naukowe PWN, Warszawa.
31. Porru S., Pinna A., Marchesi M., Toneli R. [2017], Blockchain-oriented Software Engineering: Challenges and New Directions, 2017 IEEE/ACM 39th International Conference on Software
Engineering Companion (ICSE-C).
32. Raval S. [2016], Decentralized Applications, O’Reilly Media, Inc. Sebastopol, California.
33. SC [2016], We’ve Exceted our Firs Real-time Cross-border Payment for Businesses, www.sc.com/en/media/press-release/weve-executed-our-first-real-time-cross-border-payment-for-
-businesses/ [dostęp 15.12.2018].
34. Sołoma A., Spychalski K. [2017], Zastosowanie bitcoinów we współczesnej gospodarce elektronicznej, „Roczniki Kolegium Analiz Ekonomicznych Szkoły Głównej Handlowej”, nr 45,
s. 227–240.
35. Spirzniewski K. [2017], Wpływ nowych technologii na ryzyko utraty płynności sektora bankowego, „MAZOWSZE Studia Regionalne”, nr 23, s. 45–54.
36. Swan M. [2015], Blockchain: Blueprint for a New Economy, O’Reilly Media, Inc. Sebastopol, California.
37. Suberg W. [2017], We Don’t Need Blockchain: R3 Consortium After $ 59 Million Research, cointelegraph.com/news/we-dont-need-blockchain-r3‑consortium-after-59‑million-research
[dostęp 15.12.2018].
38. Szczerbowski J. J. [2017], Legalizacja kryptowaluty Bitcoin. Aspekty cywilnoprawne, „Journal of Modern Science”, 4 (35), s. 91–104.
39. Tapscott A., Tapscott D. [2017], How Blockchain is Changing Finance, „Harvard Business Review”, 1 marca.
40. Walch A. [2017], Should Public Blockchains Serve as Financial Market Infrastructures?, Handbook of Digital Banking and Internet Finance, Vol. 2, Elsevier, Amsterdam.
41. Wood G. [2014], Ethereum: A Secure Decentralised Generalised Transaction Ledger, Ethereum project yellow paper, 151, 1–32.
42. Wright A., De Filippi P. [2015], Decentralized Blockchain Technology and the Rise of Lex Cryptographia, Social Science Research Network.
43. Yermack D. [2015], Is Bitcoin a Real Currency? An Economic Appraisal, Handbook of Digital Currency, Elsevier, s. 31–43.
44. Zheng Z., Xie S., Dai H. N., Wang H. [2016], Blockchain Challenges and Opportunities. A Survey, „International Journal of Web and Grid Services”, pdfs.semanticscholar.org/305e/
dd92f237f8e0c583a809504dcec7e204d632.pdf.
45. Zimnoch D. [2016], Wpływ technologii blockchain na efektywność banku, „Studia Ekonomiczne. Zeszyty Naukowe Uniwersytetu Ekonomicznego w Katowicach”, nr 281, s. 220–233.
46. Zyskind G., Nathan O. [2015], Decentralizing Privacy: Using Blockchain to Protect Personal Data, Security and Privacy Workshops (SPW), s. 180–184.
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Published
2019-07-12
How to Cite
Międlar, P. (2019). Blockchain in Finance. Studies and Work of the Collegium of Management and Finance , (173), 77–88. https://doi.org/10.33119/SIP.2019.173.5
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