Beyond Bitcoin ─ The Economics of Digital Currencies

The developments of digital technology have affected the way we interact with money. We use credit and debit cards, check our balances online, use ATM to withdraw money from out bank account or make direct transfers without ever touching physical cash. But these are examples of digitization of existing currency – there is always a paper dollar that you can get for a digital dollar. Digital currencies are a fairly new phenomenon. They exist only in digital world. There is no state currency, no state assets to back them up.

Beyond Bitcoin explores what digital currencies—such as Bitcoin and Amazon Coin—are and whether they may have a lasting effect on the landscape of money and payments. Halaburda argues that to understand these innovations and potential challenges and further developments in the market, one needs to develop an understanding of what needs various digital currencies fulfill and what business models are consistent with their use. This book is the first systematic work on digital currencies and appeals to scholars and practitioners alike.

Hanna Halaburda shares her time between New York University, USA, and the Bank of Canada. Previously, she was on the faculty at Harvard Business School, USA, and a visiting scholar at Columbia University, USA. Halaburda's research specializes in the economics of digital currencies, platform competition, and the impact of technology on firms' strategy.

Miklos Sarvary is Professor at Columbia Business School, USA, where he serves as Faculty Director of the Media and Technology Program. Previously, he was on the faculty at Stanford University, USA; Harvard University, USA; and INSEAD. His research has focused on information and news markets, social network competition and, more recently, online advertising effectiveness.