Related papers: How Disruptive is Financial Technology?
This paper examines the effects of inherent risks in the emerging technology of non-fungible tokens and proposes an actionable set of solutions for stakeholders in this ecosystem and observers. Web3 and NFTs are a fast-growing 300 billion…
With the rise of the concept of financial technology, financial and technology gradually in-depth integration, scientific and technological means to become financial product innovation, improve financial efficiency and reduce financial…
We investigate the macroeconomic consequences of narrow banking in the context of stock-flow consistent models. We begin with an extension of the Goodwin-Keen model incorporating time deposits, government bills, cash, and central bank…
Foreign exchange and credit derivatives increase the bank's contributions to systemic risk. Interest rate derivatives decrease it. The proportion of non-performing loans over total loans and the leverage ratio have stronger impact on…
The data revolution in low- and middle-income countries is quickly transforming how companies approach emerging markets. As mobile phones and mobile money proliferate, they generate new streams of data that enable innovation in consumer…
Financial fraud is an issue with far reaching consequences in the finance industry, government, corporate sectors, and for ordinary consumers. Increasing dependence on new technologies such as cloud and mobile computing in recent years has…
An asset network systemic risk (ANWSER) model is presented to investigate the impact of how shadow banks are intermingled in a financial system on the severity of financial contagion. Particularly, the focus of this study is the impact of…
Mobile-based financial services have made it possible for the traditionally unbanked to access infrastructure that have been routinely unattainable. Researchers have explored how these systems have made for safer environments to send and…
Digital Financial Services continue to expand and replace the delivery of traditional banking services to the customers through innovative technologies to meet the growing complex needs and globalization challenges. These diversified…
We analyze the risks to bank intermediation following the introduction of a central bank digital currency (CBDC) competing with commercial bank deposits as households' source of liquidity. We revisit the result in the literature regarding…
Contact processes (CP's) with particle creation requiring a minimal neighborhood (restrictive or threshold CP's) present a novel sort of discontinuous absorbing transitions, that revealed itself robust under the inclusion of different…
Financial inclusion depends on providing adjusted services for citizens with disclosed vulnerabilities. At the same time, the financial industry needs to adhere to a strict regulatory framework, which is often in conflict with the desire…
Blockchain technology, though conceptualized in the early 1990s, only gained practical relevance with Bitcoin's launch in 2009. Recent advancements have demonstrated its transformative potential, particularly in the digital art and global…
Wealth inequality is an important matter for economic theory and policy. Ongoing debates have been discussing recent rise in wealth inequality in connection with recent development of active financial markets around the world. Existing…
The question of how to stabilize financial systems has attracted considerable attention since the global financial crisis of 2007-2009. Recently, Beale et al. ("Individual versus systemic risk and the regulator's dilemma", Proc Natl Acad…
We develop a theoretical framework for understanding how cognitive load affects information processing in financial markets and test it using exogenous variation in disclosure complexity. Our model distinguishes between attention allocation…
Payment channels networks drastically increase the throughput and hence scalability of blockchains by performing transactions \emph{off-chain}. In an off-chain payment, parties deposit coins in a channel and then perform transactions…
We perform a large scale analysis of a list of fintech terms in (i) news and blogs in English language and (ii) professional descriptions of companies operating in many countries. The occurrence and co-occurrence of fintech terms and…
Portfolio underdiversification is one of the most costly losses accumulated over a household's life cycle. We provide new evidence on the impact of financial inclusion services on households' portfolio choice and investment efficiency using…
Decentralized finance, powered by blockchain technology, is growing day by day. This field, which emerged a few years ago, today manages $70 billion in assets. In this study, the concept of decentralized finance is discussed and explained…