Beyond Bitcoin: The Economics of Digital Currencies and Blockchain Technologies (Chapter 3: Platform-based Currencies)

Beyond Bitcoin: The Economics of Digital Currencies and Blockchain Technologies, 2nd ed, forthcoming

33 Pages Posted: 9 Mar 2018 Last revised: 3 Sep 2021

See all articles by Hanna Halaburda

Hanna Halaburda

New York University (NYU) - Leonard N. Stern School of Business

Miklos Sarvary

Columbia Business School - Marketing

Guillaume Haeringer

CUNY Baruch College

Date Written: May 28, 2021

Abstract

In this chapter, we analyze digital currencies issued by Internet platforms. We use examples of Facebook Credits, Amazon Coins, World of Warcraft gold and Linden dollars to illustrate how designing the features of digital currencies allows the platforms to enhance their business model. 3.1. Special currencies of the traditional world 3.2. Platform-based currencies in the digital era 3.2.1. Online video games and World of Warcraft gold 3.2.2. Virtual worlds and Linden dollars 3.2.3. Social Networks and Facebook Credits 3.2.4. Promotion platforms and Amazon Coin 3.3. Conclusion 3.4. Are restricted currencies really currencies?

For Chapter 1 (Introduction), see https://ssrn.com/abstract=3135021.
For Chapter 2 (Means of Exchange: Ever-present Competition), see https://ssrn.com/abstract=3135028.
For Chapter 3 (Platform-based Currencies), see https://ssrn.com/abstract=3135030.
For Chapter 4 (Bitcoin and Emergence of Cryptocurrencies), see https://ssrn.com/abstract=3135043.
For Chapter 5 (The Rich Land of Crypto), see https://ssrn.com/abstract=3135057.
For Chapter 6 (Smart Contracts and Blockchain), see https://ssrn.com/abstract=3894110.
For Chapter 7 (Enterprise Blockchains), see https://ssrn.com/abstract=3894117.
For Chapter 8 (Conclusions: Future Full of Possibilities), see https://ssrn.com/abstract=3894118.

Keywords: Bitcoin, digital currencies, network effects, cryptocurrencies

JEL Classification: D8, E4, G2, O3, D83, D84, E42, G21, G23, O33

Suggested Citation

Halaburda, Hanna and Sarvary, Miklos and Haeringer, Guillaume, Beyond Bitcoin: The Economics of Digital Currencies and Blockchain Technologies (Chapter 3: Platform-based Currencies) (May 28, 2021). Beyond Bitcoin: The Economics of Digital Currencies and Blockchain Technologies, 2nd ed, forthcoming, Available at SSRN: https://ssrn.com/abstract=3135030

Hanna Halaburda (Contact Author)

New York University (NYU) - Leonard N. Stern School of Business ( email )

44 West 4th Street
New York, NY NY 10012
United States

Miklos Sarvary

Columbia Business School - Marketing ( email )

New York, NY 10027
United States

Guillaume Haeringer

CUNY Baruch College ( email )

17 Lexington Avenue
New York, NY 10021
United States

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