This book focuses on four key parts of the Blockchain ecosystem, which are the most relevant for financial services executives: Tokenomics and Digital Platforms, Markets, Privacy and the emerging phenomenon of Decentralized Autonomous Organizations (DAOs).
Tokenomics and Digital Platforms explores some of the key tenants of distributed ledger technology. Markets introduces important dynamics of both centralized (CeFi) and decentralized finance (DeFi). Privacy describes the cryptographic primitives that enable safe, blockchain-based digital transactions, perhaps the most critical infrastructure for global adoption of Web3. The last part of the book on DAOs highlights benefits but also risks and boundaries of the emerging new form of organization.
Each part is introduced in a short chapter to set the stage, followed by the contributions of selected scholars. The chapters explain not only what the phenomenon in question is, but also what the associated opportunities and risks are. They highlight what practitioners can do with the insight their research provides.
All chapters are short, easy-to-read, and tailored to the practitioners who need to understand these topics but whose busy schedule doesn’t allow for enough time to read full academic articles to do so.
1. Introduction.-
2. The Adoption of Decentralised Exchanges.-
3. Blockchain without Waste: Proof-of-Stake.- 4. Building Trust Takes Time:
Limits to Arbitrage in Blockchain-Based Markets.- 5. Some simple economics of
the blockchain.-
6. Security Token Offerings.- 7. The Economics of
Decentralized Autonomous Organizations.- 8. Investing with Cryptocurrencies
A Liquidity Constrained Investment Approach.- 9. Interview with Practitioner
1.-
10. Interview with Practitioner 2.- 11. Interview Practitioner 3.-
12. Conclusion.
Daniel Liebau is a pracademic: As a practitioner, he is the Founder of Lightbulb Capital in Hong Kong and Singapore. As an academic, he is a Lecturer at ESSEC Business School and a researcher at Erasmus University.
Simon Trimborn is an Assistant Professor of Econometrics and Data Science at the Amsterdam School of Economics, University of Amsterdam, and a Research Fellow at the Tinbergen Institute. He obtained his PhD from Humboldt-Universität zu Berlin and held positions at City University of Hong Kong and National University of Singapore. Simons work is centered around social media analytics, cryptocurrency, and blockchain.
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