Cryptofinance and Mechanisms of Exchange, 1st ed. 2019
The Making of Virtual Currency
Contributions to Management Science Series

Coordinators: Goutte Stéphane, Guesmi Khaled, Saadi Samir

Language: English

137.14 €

In Print (Delivery period: 15 days).

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Cryptofinance and Mechanisms of Exchange
Publication date:
198 p. · 15.5x23.5 cm · Paperback

137.14 €

In Print (Delivery period: 15 days).

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Cryptofinance and Mechanisms of Exchange
Publication date:
198 p. · 15.5x23.5 cm · Hardback
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.

Chapter 1 Cryptocurrencies as an Asset Class.- Chapter 2 Are virtual currencies virtuous? Ethical and Environmental Issues.- Chapter 3 Cryptocurrency Mining.- Chapter 4 Regulating Bitcoin: A Tax Case Study.- Chapter 5 Are Cryptocurrencies Truly Trustless?.- Chapter 6 Blockchain & Alternative Sources of Financing.- Chapter 7 Tokenomics.- Chapter 8 Crypto Tokens and Token Offerings: An Introduction.- Chapter 9 Initial Coin Offerings: What Do We Know and What are the Success Factors?.- Chapter 10 Initial Coin Offerings (ICOs): Risks, Regulation, and Accountability.- Chapter 11 Cryptocurrencies and Risk Mitigation.

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 Journal; International 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 Profes

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