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The purpose of the article is to look closely at the phenomenon of the cryptocurrencies such as and bitcoin to identify their potential vulnerabilities to money laundering and financing of terrorism. It also explores their specific characteristics relevant to ML/FT risks.

Using digicash and bitcoin protocols as primary cases for centralized and decentralized cryptocurrencies we analyse their characteristics against cash and cashless payments. We also draw on “bundle of attributes” that may define their attractiveness for common public or criminals.

Our research shows that characteristics of the cryptocurrencies are unlikely to make them popular among the consumers, as demand for anonymity seems to be overrated. Cryptocurrencies can also be classified as payment instrument rather than private currencies; therefore their embededdness in the financial system minimizes the ML/FT risks.

Some decentralized cryptocurrencies operate within informal communities. Therefore, relations within these communities are constantly evolving and need to be monitored further.

The paper provides an insight into the mechanics and classification of cryptocurrencies as payment instruments. Place of cryptocurrencies within the broader payment ecosystem defines their potential vulnerabilities to being abused by the criminals.

The paper fills the gap in research on cryptocurrencies as payment instruments rather than private currencies and also provides an overview of their relevance for the Anti-money laundering and combating financing of terrorism (AML/CFT) regime.

The discussion of online payments, while ultimately being a key issue for the future Information SuperHighway, is as significant now as it ever will be. The explosive increase in the use of the Internet has seen the emergence of commercial services and pressures previously restricted to Compuserve and the like. Many predictions see this burgeoning electronic marketplace becoming a significant component of the world economy. However this can only happen once two key problems have been addressed, namely, protecting property rights and Making payments. This has led to a frantic battle for payment mechanisms that can provide the new medium with the means of conducting transactions. Briefly examines the inexorable evolution of money into electronic forms and discusses the alternative types of payment mechanisms proposed, on trial or in use on the Internet. Identifies the key commercial requirements that successful use of the Internet will impose on a payment mechanism, and use these requirements to evaluate each of the mechanisms to determine which (if any) are really suitable for electronic commerce.

eCash by DigiCash is one of a range of software‐based systems devised for payments to be made over the Internet by the use of electronic tokens or “coins” (known colloquially as “electronic money”). As in the case of other new electronic systems, the functioning of the system gives rise to novel and difficult legal issues, some of which have yet to be resolved. This article will consider the extent to which a user of the system whose value is stolen may use the common law and equitable tracing rules as a means of taking action against the perpetrator of the fraud.

Suggests that the discussion of online payments, while ultimately being a key issue for the future Information SuperHighway, is as significant now as it ever will be. The explosive increase in the use of the Internet has seen the emergence of commercial services and pressures previously restricted to Compuserve and the like. Many predictions see this burgeoning electronic marketplace becoming a significant component of the world economy. However, this can only happen once two key problems have been addressed, namely, protecting property rights, and making payments. This has led to a frantic battle for payment mechanisms that can provide the new medium with the means of conducting transactions. Identifies the key commercial requirements that successful use of the Internet will impose on a payment mechanism. Identifies the different types of mechanisms that are proposed, on trial or in use on the Internet. Evaluates each of these mechanisms against the requirements to determine which (if any) are really suitable for electronic commerce.

Subscriptions and bills are inappropriate and inefficient means of charging for interactive services. We need to move to a software‐on‐demand, payment‐on‐demand model if online services are to expand into the mass market.

In this update we consider one of the hottest issues of 1995, with reference mainly to two commercial initiatives plus an academic prototype which could have commercial implications.

The Internet, since its commercialisation, has expanded with tremendous rapidity. This development has been still further assisted by the creation of the World Wide Web, which has caught the imagination of users around the world. As the marketing and provision of goods and services over the Web continues to grow, the missing factor appears to be a well‐accepted and well‐trusted method of paying for these products and services. This paper discusses the problem of internet payment systems (IPS) and reports the results of a research project which attempts to identify and classify effectiveness criteria for IPS. The project was undertaken by means of a Delphi survey of experts in IPS usage and classified types of IPS providers, as well as the factors which each group considers most important. This information was used in the development of our set of IPS effectiveness criteria.

Describes how technology is rapidly changing the way information is distributed and paid for. Libraries face the risk that they will be cut from the loop that includes publishers and information consumers. Libraries must take an active role in experimenting with emerging technology and trends in the economics and distribution of information. If they do so, they stand to maintain their strong position as collection builders and organizers, and to continue their tradition of excellence in providing access to information for their users. Highlights a number of issues that need to be addressed as libraries make the transition from paper to digital: funding models, fee versus free use of information, and the infrastructure of digital economy. Explores the role that electronic money may have in those libraries in more depth.

ONLINE SELLING OFF THE SHELF The rest of the world is rapidly catching up with something the online industry has been doing for years — selling things online. A recent US Department of Commerce study suggests that $5 billion worth of transactions will be done online in 1998; by the year 2000 it will be forty times that amount. A single online shopping mall, Viamall, currently has over 7.3 million page views and over $1.4 million of orders per month.

This paper examines the effect of cryptocurrencies on the portfolio risk-adjusted returns of traditional and alternative investments within an emerging market economy.

The paper employs daily arithmetic returns from August 2015 to October 2018 of traditional assets (stocks, bonds, currencies), alternative assets (commodities, real estate) and cryptocurrencies. Using the mean-variance analysis, the Sharpe ratio, the conditional value-at-risk and the mean-variance spanning tests.

The paper documents evidence to support the diversification benefits of cryptocurrencies by utilising the mean-variance tests, improving the efficient frontier and the risk-adjusted returns of the emerging market economy portfolio of investments.

This paper firmly broadens the Modern Portfolio Theory by authenticating cryptocurrencies as assets with diversification benefits in an emerging market economy investment portfolio.

As far as the authors are concerned, this paper presents the first evidence of the effect of diversification benefits of cryptocurrencies on emerging market asset portfolios constructed using traditional and alternative assets.