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Cryptocurrency, a successful application of blockchain technology

Mohammad Hashemi Joo (Department of Finance, Florida International University, Miami, Florida, USA)
Yuka Nishikawa (Department of Finance, Florida International University, Miami, Florida, USA)
Krishnan Dandapani (Department of Finance, Florida International University, Miami, Florida, USA)

Managerial Finance

ISSN: 0307-4358

Article publication date: 27 August 2019

Issue publication date: 29 August 2020

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Abstract

Purpose

The purpose of this paper is to identify the applications and contributions of blockchain technology in finance in general, and to identify areas where the technology can make a larger impact in payment systems.

Design/methodology/approach

The authors do an exhaustive review of blockchain technology and cryptocurrency, and examine the successful applications of blockchain technology in several finance disciplines including cryptocurrency. The authors critically evaluate the technical studies on behaviors in cryptocurrency prices.

Findings

Cryptocurrency is the first successful application of blockchain technology and can be used as the main fuel of the global money transfer network.

Research limitations/implications

Blockchain is a revolutionary technology that can change the world with its convenience, transparency, accuracy and efficiency in speed and cost. The growth of blockchain usage in finance depends on further familiarization and trust gained by an increasing number of proven successful usage cases and testimonials as well as appropriate legislative changes.

Originality/value

This paper provides a comprehensive review of the contributions that blockchain technology has made and is expected to make in the field of finance with the aim of adding value to corporate executives, investors, policy makers and a general audience.

Keywords

Citation

Hashemi Joo, M., Nishikawa, Y. and Dandapani, K. (2020), "Cryptocurrency, a successful application of blockchain technology", Managerial Finance, Vol. 46 No. 6, pp. 715-733. https://doi.org/10.1108/MF-09-2018-0451

Publisher

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Emerald Publishing Limited

Copyright © 2019, Emerald Publishing Limited

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