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1 – 10 of 12George (Yiorgos) Allayannis, Paul Tudor Jones and Aaron Fernstrom
The case describes a hypothetical hedge fund manager who is examining whether to invest in bitcoin. The case discusses potential risks and rewards of investing in bitcoin, the…
Abstract
The case describes a hypothetical hedge fund manager who is examining whether to invest in bitcoin. The case discusses potential risks and rewards of investing in bitcoin, the role of bitcoin and digital currencies more broadly, and financial innovation in the space, such as ICOs. It can be taught as part of a second-year MBA elective course in investments, financial institutions/capital markets, or fintech.
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Vladlena Benson, Umut Turksen and Bogdan Adamyk
This paper aims to focus on the need for an enhanced anti-money laundering (AML) regulation for decentralised finance (DeFi) to protect the integrity of global financial systems…
Abstract
Purpose
This paper aims to focus on the need for an enhanced anti-money laundering (AML) regulation for decentralised finance (DeFi) to protect the integrity of global financial systems against illicit activities. Research highlights the requirement for a robust regulatory strategy for the fast-paced DeFi evolvement.
Design/methodology/approach
This study used doctrinal legal research by analysing legislation, which involved creating use cases to illustrate different aspects of potential illicit activities via the DeFi ecosystem. Various DeFi applications were assessed for the potential regulatory responses and outcomes.
Findings
This paper offers valuable insight into the regulatory challenges presented by DeFi. This study addresses the blind spots leveraged by criminals afforded by the DeFi’s decentralised nature. This paper offers a comprehensive examination of DeFi regulatory challenges based on use-case scenarios and provides recommendations for regulators on how to address them effectively.
Originality/value
This paper proposes measures for regulatory authorities to minimise money laundering risks through new channels such as decentralised exchanges, non-custodial wallets and cross-chain bridges. This study concludes with the future directions for DeFi regulation and AML compliance.
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Milind Tiwari, Cayle Lupton, Ausma Bernot and Khaled Halteh
This paper aims to investigate technological innovations within the crypto space that have engendered novel financial crime risks and their potential utilization amidst…
Abstract
Purpose
This paper aims to investigate technological innovations within the crypto space that have engendered novel financial crime risks and their potential utilization amidst geopolitical conflicts.
Design/methodology/approach
The theoretical paper uses an analysis of recent geopolitical events, with a key focus on using cryptocurrencies to undertake illicit activities.
Findings
The study found that cryptocurrencies and the innovations made within the crypto domain are used for both legitimate and illicit purposes, including money laundering, terrorism financing and sanction evasion.
Originality/value
This research contributes to understanding the critical role cryptocurrencies play amidst geopolitical conflicts and emphasizes the need for regulatory considerations to prevent their misuse. To the best of the authors’ knowledge, this paper is the first scholarly contribution that considers the evolving mechanisms afforded by cryptocurrencies amidst geopolitical conflicts in undertaking illicit activities.
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Marcus Smith and Milind Tiwari
This paper aims to explain the implications of the impending establishment of national blockchain infrastructure by governments around the world, and how these structures can be…
Abstract
Purpose
This paper aims to explain the implications of the impending establishment of national blockchain infrastructure by governments around the world, and how these structures can be integrated with existing legislation and assist in the prevention of financial crime.
Design/methodology/approach
The methodology used is a literature review and analysis of progress being made to establish national blockchain infrastructure. It provides a discussion of the connection between blockchain and financial crime, and how this infrastructure will interact with existing regulatory frameworks, and particularly, financial crime legislation.
Findings
This paper documents financial crime risks posed by digital currencies and smart contracts and the role that national blockchain infrastructure can potentially play in mitigating these risks. It highlights the need for governments to devote resources to developing this infrastructure and associated regulatory frameworks.
Originality/value
There are few, if any, academic papers in the financial crime, or wider literature, that have examined the potential for national blockchain infrastructures prevent financial crime, including the implications for existing regulation in the field.
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John Aliu, Ayodeji Emmanuel Oke, Isaac I. Akinwumi, Rislan Abdulazeez Kanya and Lydia Uyi Ehiosun
This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was…
Abstract
Purpose
This study aimed to investigate and analyze the level of awareness and adoption of distributed ledger technologies (DLTs) within the Nigerian construction industry. The focus was on addressing the current state of DLT utilization, identifying challenges and opportunities and proposing strategies to enhance the integration of DLTs into the construction processes and practices of Nigerian professionals and organizations.
Design/methodology/approach
The research was underpinned by a robust theoretical and conceptual framework, drawing from established theories of technology adoption. A comprehensive literature review guided the identification of various DLT types. This informed the development of a well-structured questionnaire, which was then distributed to Nigerian construction professionals. The collected data underwent analysis using percentages, frequencies, mean scores, the Kruskal–Wallis H-test and the Shapiro–Wilk test.
Findings
A significant finding of this study reveals a generally low awareness and implementation of DLT among construction professionals in Nigeria. These findings emphasize the urgent need for comprehensive strategies to bridge the gap between awareness and adoption of DLT within the Nigerian construction industry.
Practical implications
Industry associations, regulatory bodies and educational institutions can collaborate to develop specialized programs aimed at familiarizing professionals with the benefits and applications of DLTs. Additionally, technology providers and policymakers can leverage these findings to design user-friendly interfaces and guidelines for seamless DLT integration into construction processes.
Originality/value
This study contributes to the existing body of knowledge by providing a comprehensive assessment of the awareness and adoption of DLTs specifically within the Nigerian construction industry. While the global recognition of DLT’s potential in construction is acknowledged, this research delves into a regional context, shedding light on the specific opportunities within Nigeria. Furthermore, the study’s identification of a gap between awareness and implementation highlights a critical area for future exploration and development in the field of construction technology adoption.
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The study provides a comprehensive understanding of the issues and illegal activities related to cryptocurrencies and their negative repercussions. This study aims to identify and…
Abstract
Purpose
The study provides a comprehensive understanding of the issues and illegal activities related to cryptocurrencies and their negative repercussions. This study aims to identify and classify cryptocurrency downsides using grounded theory and in-depth interviews. The study also analysed investors’ reluctance to invest in cryptocurrency. This pioneering qualitative study illuminates a deep and multifaceted criminal aspect of cryptocurrency.
Design/methodology/approach
The study conducted in-depth interviews with respondents who have experience and knowledge of cryptocurrency investments. The interviews were recorded and transcribed. The analysis was performed using the NVivo 14 software in the study.
Findings
The study specified two major types of cryptocurrency’s negative aspects: barriers and illegal usage. Barriers to cryptocurrency investment include technological, security, trust, market-related and regulatory reasons. Terrorist funding, money laundering, fraud and ransom payments are all examples of illegal usage. The results of the word cloud analysis are consistent with the overall findings of the survey, which highlighted illegal usage as a prominent negative element of cryptocurrencies. It is a key reason why cryptocurrency is not included in investing portfolios by investors.
Originality/value
The study’s findings provide useful insights for policymakers to develop better methods for successfully mitigating risks and ensuring responsible and sustainable usage of cryptocurrencies. In addition, the study could serve as a stepping stone for more cryptocurrency-related studies, contributing to the development of a more complete and nuanced comprehension of this emergent technology and its societal effects.
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Nasir Sultan, Norazida Mohamed, Mervyn Martin and Hafizah Mohd Latif
This study aims to examine the Financial Action Task Force’s recommendations on virtual currencies (VCs) and how Pakistan has responded to them.
Abstract
Purpose
This study aims to examine the Financial Action Task Force’s recommendations on virtual currencies (VCs) and how Pakistan has responded to them.
Design/methodology/approach
Qualitative document and jurisprudence analysis techniques were used to achieve the study’s goal.
Findings
According to this study, VCs are modern FinTech that no jurisdiction can ignore. However, Pakistan has not adopted regulations to govern VCs but comprehensively prohibits their use. It is primarily due to the apathy of various regimes and regulators. Furthermore, the geographical location, undocumented economy and rampant corruption could facilitate the abuse of VCs for money laundering.
Originality/value
This study has provided a significant overview for developing regulations for VCs in Pakistan and other developing jurisdictions with the same characteristics.
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Eduard Hartwich, Philipp Ollig, Gilbert Fridgen and Alexander Rieger
This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy…
Abstract
Purpose
This paper aims to establish a fundamental and comprehensive understanding of non-fungible tokens (NFTs) by identifying and structuring common characteristics within a taxonomy. NFTs are hyped and increasingly marketed as essential building blocks of the Metaverse. However, the dynamic evolution of the NFT space has posed challenges for those seeking to develop a deep and comprehensive understanding of NFTs, their features and their capabilities.
Design/methodology/approach
Utilizing common guidelines for the creation of taxonomies, the authors developed (over 3 iterations), a multi-layer taxonomy based on workshops and interviews with 11 academic and 15 industry experts. Through an evaluation of 25 NFTs, the authors demonstrate the usefulness of the taxonomy.
Findings
The taxonomy has 4 layers, 14 dimensions and 42 characteristics, which describe NFTs in terms of reference object, token properties, token distribution and realizable value.
Originality/value
The authors' framework is the first to systematically cover the emerging NFT phenomenon. This framework is concise yet extendible and presents many avenues for future research in a plethora of disciplines. The characteristics identified in the authors' taxonomy are useful for NFT- and Metaverse-related research in finance, marketing, law and information systems. Additionally, the taxonomy can serve as an information source for policymakers as they consider NFT regulation.
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Shreya Sangal, Gaurav Duggal and Achint Nigam
The purpose of this research paper is to review and synthesize the role of blockchain technology (BCT) in various types of illegal activities, including but not limited to fraud…
Abstract
Purpose
The purpose of this research paper is to review and synthesize the role of blockchain technology (BCT) in various types of illegal activities, including but not limited to fraud, money laundering, ransomware attacks, firearms, drug tracking, cyberattacks, identity theft and scams.
Design/methodology/approach
The authors conducted a review of studies related to illegal activities using blockchain from 2015 to 2023. Next, a thematic review of the literature was performed to see how these illegal activities were conducted using BCT.
Findings
Through this study, the authors identify the relevant themes that highlight the major illegal activities performed using BCT, its possible steps for prevention and the opportunities for future developments. Finally, the authors provide suggestions for future research using the theory, context and method framework.
Originality/value
No other research has synthesized the illegal activities using BCT through a thematic approach to the best of the authors’ knowledge. Hence, this study will act as a starting point for future research for academic and technical practitioners in this area.
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Xin-Zhou Qi, Eric Ping Hung Li, Zhuangyu Wei and Zhong Ning
This study examines the impact of university science parks’ (USPs) capabilities on revenue generation and introduces regional innovation as a moderating variable. This study aims…
Abstract
Purpose
This study examines the impact of university science parks’ (USPs) capabilities on revenue generation and introduces regional innovation as a moderating variable. This study aims to provide insights into enhancing revenue generation and fully leveraging the role of USPs in promoting revenue generation.
Design/methodology/approach
This study employs system generalized method of moments (GMM) estimation for 116 universities in China from 2008 to 2020, using hierarchical regression analysis to examine the relationships between variables.
Findings
The findings suggest that USPs play a beneficial role in fostering revenue generation. Specifically, the provision of incubation funding demonstrates a positive correlation, while USPs size exhibits an inverted U-shaped pattern, with a threshold at 3.037 and a mean value of 3.712, highlighting the prevalent issue of suboptimal personnel allocation in the majority of USPs. Moreover, the analysis underscores the critical moderating influence of regional innovation, affecting the intricate interplay between USPs size, incubation funding and revenue generation.
Research limitations/implications
The single country (China) analysis relied solely on the use of secondary data. Future studies could expand the scope to include other countries and employ primary data collection. For instance, future research can further examine how regional development and USPs strategic plan impact revenue generation.
Practical implications
The study recommends that USPs managers and policymakers recognize the importance of incubation funding and determine the optimal quantity of USPs size to effectively foster revenue generation in USPs. Policymakers can use regional innovation as a moderating variable to reinforce the relationship between USPs size and incubation funding on revenue generation.
Social implications
The study’s findings can contribute to the strategic industry growth and economic development of nations by promoting revenue generation. Leveraging the role of USPs and implementing the study’s recommendations can strengthen innovation and technology capabilities, driving strategic industry growth and economic development. This can enhance global competitiveness and promote sustainable economic growth.
Originality/value
This study introduces regional innovation as a moderating variable and provides empirical evidence of its influence on the relationship between USPs size and incubation funding on revenue generation. This adds value to research to the existing literature on USPs and revenue generation by showcasing the importance of examining the regional impact in research and innovation.
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