Bitcoin and Blockchain: What We Know and What Questions are Still Open

59 Pages Posted: 19 Nov 2018 Last revised: 13 Apr 2019

See all articles by Hanna Halaburda

Hanna Halaburda

Bank of Canada; New York University (NYU); CESifo (Center for Economic Studies and Ifo Institute)

Guillaume Haeringer

City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance

Date Written: April 3, 2019

Abstract

Since its inception in 2009 much has been said about Bitcoin. While initially the discussions took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on topics related to Bitcoin and blockchain technologies. Interest in these topics spans many academic disciplines. This paper presents a survey of this literature focusing on economics contributions.One of the objectives of this survey is to make it easier for more economists to enter this research space.

There is not yet an established "canon" on this topic; many papers that are important and already have proven to be seminal, are not yet published. Nonetheless, this literature is becoming more structured with several papers in various subfields having made key contributions.

The areas of most activity and main contributions are the game theoretic analysis of Bitcoin's design, the analysis of user's incentives to adopt Bitcoin, the search for drivers of Bitcoin's price, the analysis of the interaction of Bitcoin with other currencies and the exploration of non-monetary applications of the blockchain technologies.

Keywords: Bitcoin, blockchain, cryptocurrencies

JEL Classification: A1, D4, L0, O3, Y2

Suggested Citation

Halaburda, Hanna and Haeringer, Guillaume, Bitcoin and Blockchain: What We Know and What Questions are Still Open (April 3, 2019). NYU Stern School of Business; Baruch College Zicklin School of Business Research Paper No. 2018-10-02. Available at SSRN: https://ssrn.com/abstract=3274331 or http://dx.doi.org/10.2139/ssrn.3274331

Hanna Halaburda (Contact Author)

Bank of Canada ( email )

234 Wellington Street
Ontario, Ottawa K1A 0G9
Canada

New York University (NYU) ( email )

Bobst Library, E-resource Acquisitions
20 Cooper Square 3rd Floor
New York, NY 10003-711
United States

CESifo (Center for Economic Studies and Ifo Institute) ( email )

Munich
Germany

Guillaume Haeringer

City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance

17 Lexington Avenue
New York, NY 10010
United States

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