Non-fungible tokens (NFTs) have been in the spotlight for several years now following a trading frenzy and spectacular returns. An NFT is a digital record of ownership, created and stored on a blockchain, and thus tamper-proof and auditable. Blockchains are decentralized ledgers of transactions that are designed to run perpetually, hence providing the basis for… Read More »
Blockchain-based smart contracts have the potential to replace traditional contracts with decentralized contract enforcement in a way that does not involve a third-party intermediary. While smart contracts inherit key advantages from the base-layer blockchain infrastructure, such as decentralization, immutability, and transparency, they are also subject to the same trilemma that blockchains face: scalability, security, and… Read More »
As a new species of cryptographic asset based on blockchain technology, the non-fungible token (NFT) became prominent and attracted attention from academia and practitioners. Unlike cryptocurrencies, which primarily serve as a medium of exchange, NFTs are blockchain-recorded digital assets that can be anything digital, e.g., images, videos, and songs. The NFT market reached its peak… Read More »
This post is a summary of a paper that was selected for inclusion at the inaugural Digital Assets at Duke Conference at Duke University on January 20 and 21. The past year was not a good one for crypto, with Sam Bankman-Fried’s massive fraud through FTX/Alameda, Do Kwon’s failed algorithmic stablecoin experiment (Terra Luna), and… Read More »
Blockchain has been one of the fastest-growing technologies in the last decade. While some of this impressive growth has been organic, mergers and acquisitions (M&A) have aided substantially, particularly in the last several years. The recent cryptocurrency report of PricewaterhouseCoopers emphasizes the extent of this contribution by documenting that “(t)he total value of crypto M&A… Read More »
Confront any crypto-enthusiast with statistics regarding the mammoth rise in crimes facilitated by cryptocurrencies, the response will almost always be: What About Fiat? Crimes Committed With Fiat are Far Worse Than Crime With Crypto. This newfangled retort of Whataboutism is a flawed pivot and anemic argument form. Yes, legions of criminals have committed crimes using… Read More »