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Title:
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DEBUNKING THE MYTH OF CRYPTO ASSETS AS FINANCIAL INNOVATION: UNPACKING THE FALLOUT FROM THE CRYPTO WINTER |
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Author(s):
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Wendy L. Currie and Jonathan J. M. Seddon |
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ISBN:
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978-989-8704-56-6 |
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Editors:
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Miguel Baptista Nunes, Pedro Isaías and Philip Powell |
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Year:
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2024 |
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Edition:
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Single |
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Keywords:
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Crypto Assets, Crypto Winter, Derivatives, Financial Regulation |
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Type:
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Reflection |
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First Page:
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193 |
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Last Page:
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196 |
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Language:
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English |
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Cover:
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Full Contents:
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Paper Abstract:
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Following the Great Recession of 2007/8, bank behavior and government control were viewed in a negative light. The use of blockchain for decentralized financial tokens has been embraced by those seeking an alternative to the existing fiat system. Technology enabled the quick purchase of crypto assets, allowing millions of investors all over the world to access the perceived benefits of decentralized investment. And just as new types of unregulated investments had helped to create the Great Recession, unregulated crypto assets drove the crypto winter of 2021-23. There are strong arguments on both sides as to the benefits and costs created by crypto assets, and the contributions that they make to society. |
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