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Book part
Publication date: 5 February 2018

Mariam Humayun and Russell W. Belk

Purpose: In this paper, we focus on the mythic nature of the anonymous Bitcoin creator, Satoshi Nakamoto. Drawing on ideas from Foucault and Barthes on authorship, we analyze the…

Abstract

Purpose: In this paper, we focus on the mythic nature of the anonymous Bitcoin creator, Satoshi Nakamoto. Drawing on ideas from Foucault and Barthes on authorship, we analyze the notion of the absence of the author and how that sustains the brand. Design/methodology/approach: Based on interview data, participant observation, archival data, and a netnography, we examine the discourses that emerge in the wake of multiple Satoshi Nakamoto exposés that serve as both stabilizing and destabilizing forces in the Bitcoin ecosystem. Findings: We analyze the different interpretations of Satoshi Nakamoto through his own text and how his readers interpret him. We identify how consumers employ motifs of myth and religiosity in trying to find meaning in Satoshi’s disappearance. His absence allows for multiple interpretations of how the Bitcoin brand is viewed and adopted by a diverse community of enthusiasts.

Implications: Our findings provide a richer understanding of how, in a period of celebrity brands, Satoshi Nakamoto’s anti-celebrity stance helps sustain the Bitcoin ecosystem.

Originality/value: Our analysis examines the nature of anonymity in our hyper-celebrity culture and the mystique of the anonymous creator that fuels modern-day myths for brands without owners.

Article
Publication date: 4 August 2021

Thibaut Morillon

Professionals and academics alike hold polarized opinions about Bitcoin’s purpose and its fundamental value. This paper aims to describe Bitcoin’s unique features that make it…

Abstract

Purpose

Professionals and academics alike hold polarized opinions about Bitcoin’s purpose and its fundamental value. This paper aims to describe Bitcoin’s unique features that make it such an intriguing asset and proposes a new way to consider Bitcoin and its underlying value.

Design/methodology/approach

In this paper the author discusses Bitcoin’s defining features that make it a unique asset. The author argues that Bitcoin should not be considered as a single purpose asset only, but rather as a new digital financial asset serving several functions, at least partially. The author discusses the role of Bitcoin in the traditional financial system, contrasts Bitcoin to gold, considers the implications of the continuance of expansionary policies on Bitcoin and discusses the impact of the emergence of cryptocurrencies as a new asset class on public policies.

Findings

In addition to functioning as a means of payment (at least partially) and a diversification tool, part of Bitcoin’s value proposition stems from its worth as a short position on modern expansionary monetary policies. Indeed, Bitcoin’s value should rise if expansionary monetary policies are maintained, amounting to a tool to short these policies, which should be considered in future attempts to value Bitcoin.

Originality/value

The author adds a new layer to the ongoing thought process by arguing of a function played by Bitcoin unaccounted for thus far by the literature. Additionally, the author describes the features and mechanisms, allowing Bitcoin to play that role.

Details

Studies in Economics and Finance, vol. 39 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Article
Publication date: 29 November 2022

Rukma Ramachandran, Vimal Babu and Vijaya Prabhagar Murugesan

The purpose of this paper is to analyze the extensive literature on blockchain technology (BT) and human resource management (HRM) in enterprises and set the future scope of…

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Abstract

Purpose

The purpose of this paper is to analyze the extensive literature on blockchain technology (BT) and human resource management (HRM) in enterprises and set the future scope of research in the adoption of BT in HRM.

Design/methodology/approach

A framework-based review of the literature (Callahan, 2014; Paul and Criado, 2020) is adopted for the present study. The 6 W-Framework developed by Callahan (2014) is used for the development of a conceptual framework on BT and HRM and could address HRM issues through the applications of BT.

Findings

This study focused on the major HR issues, i.e., regulation, staffing and development, and change management. These issues were categorized into sub-categories. The major implementation of BT in HRM is highlighted. The study developed a framework to aid HR professionals in implementing blockchain in the decision-making process of HRM.

Research limitations/implications

The current study is limited to the bias on the part of employers in providing feedback and data feeding. Blockchain being at its infancy stage did not allow much of pieces of literary works to be introduced.

Practical implications

Implementation of ledger technology in managerial functions will reduce the time, money and effort required by potential recruiters and HR professionals. Using this technology, the time and cost required to verify and sort the right potential can be reduced.

Originality/value

The present work offers benefits to HR professionals and practitioners by expediting the process of effective decision-making of HRM employing BT.

Details

Business Process Management Journal, vol. 29 no. 1
Type: Research Article
ISSN: 1463-7154

Keywords

Book part
Publication date: 9 March 2021

H. Kent Baker, Ehsan Nikbakht and Sean Stein Smith

Blockchain is an emerging technology that started in the cryptocurrency sphere with bitcoin but expanded to include numerous applications. This chapter provides an overview of the…

Abstract

Blockchain is an emerging technology that started in the cryptocurrency sphere with bitcoin but expanded to include numerous applications. This chapter provides an overview of the book. It begins by identifying the three main components of a blockchain. Next, it discusses the book's purpose, distinguishing features, and its intended audience. The chapter then outlines the book's structure, consisting of 22 chapters divided into four main parts. It offers a brief synopsis of each section and chapter. Finally, it ends with a summary and conclusions.

Details

The Emerald Handbook of Blockchain for Business
Type: Book
ISBN: 978-1-83982-198-1

Keywords

Article
Publication date: 7 January 2019

Umut Uyar and Ibrahim Korkmaz Kahraman

This study aims to compare investors of major conventional currencies and Bitcoin (BTC) investors by using the value at risk (VaR) method common risk measure.

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Abstract

Purpose

This study aims to compare investors of major conventional currencies and Bitcoin (BTC) investors by using the value at risk (VaR) method common risk measure.

Design/methodology/approach

The paper used a risk analysis named as VaR. The analysis has various computations that Historical Simulation and Monte Carlo Simulation methods were used for this paper.

Findings

Findings of the analysis are assessed in two different aspects of singular currency risk and portfolios built. First, BTC is found to be significantly risky with respect to the major currencies; and it is six times riskier than the singular most risky currency. Second, in terms of inclusion of BTC into a portfolio, which equally weights all currencies, it elevates overall portfolio risk by 98 per cent.

Practical implications

In spite of the remarkable risk level, it could be considered that investors are desirous of making an investment on BTC could mitigate their overall exposed risk relatively by building a portfolio.

Originality/value

The paper questions the risk level of Bitcoin, which is a digital currency. BTC, a matter of debate in the contemporary period, is seen as a digital currency free from control or supervision of a regulatory board. With the comparison of major currencies and BTC shows that how could be risky of a financial instrument without regulations. However, there is some advice for investors who would like to invest digital currencies despite the risk level in this study.

Details

Journal of Money Laundering Control, vol. 22 no. 1
Type: Research Article
ISSN: 1368-5201

Keywords

Content available
Article
Publication date: 26 May 2023

Kenneth J. Barnes

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Abstract

Details

Journal of Ethics in Entrepreneurship and Technology, vol. 3 no. 1
Type: Research Article
ISSN: 2633-7436

Book part
Publication date: 13 May 2019

Amit Majumder, Megnath Routh and Dipayan Singha

One of the noteworthy developments in the world economy is the cryptocurrency in general and the bitcoin in particular. Although several types of cryptocurrency are in operation…

Abstract

One of the noteworthy developments in the world economy is the cryptocurrency in general and the bitcoin in particular. Although several types of cryptocurrency are in operation in the current digital economy, the most prevalent is the bitcoin, which was launched formally in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. The value of bitcoin has increased to such an extend that it reached 19.7 billion US dollars by January 2, 2018 (Statista, 2018). As the bitcoin price touches a new high day by day, various terrorist organizations are using this cryptocurrency to anonymously finance their grotesque terrorist activities around the world by bypassing the surveillance mechanism of the banking system of the respective countries. Against this backdrop, this chapter aims to understand the mechanism of cryptocurrencies in general and the bitcoin in particular. Finally, it also endeavors to identify the trend of the bitcoin economy and its impact on nefarious activities in general and terrorism financing in particular. It has been revealed from the study that cryptocurrency economy has become so popular across the world that it has created an alternative virtual economy devoid of regulations from a specific country or a group of countries. By using vector error correction model (VECM), it had been observed that there exists a statistically significant long-run association between terrorist incidences and bitcoin transaction/circulation in the panel of 12 countries for 2010–2016. However, there is a huge concern over its way of operation and its unholy nexus with terrorism financing.

Details

The Impact of Global Terrorism on Economic and Political Development
Type: Book
ISBN: 978-1-78769-919-9

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Abstract

Details

An Introduction to Algorithmic Finance, Algorithmic Trading and Blockchain
Type: Book
ISBN: 978-1-78973-894-0

Book part
Publication date: 11 November 2019

Miguel R. Olivas-Lujan

Blockchains, also known as “distributed ledger technologies” (DLT) are perhaps the emerging innovation that, in the years leading up to and including 2019, is raising the highest…

Abstract

Blockchains, also known as “distributed ledger technologies” (DLT) are perhaps the emerging innovation that, in the years leading up to and including 2019, is raising the highest expectations for HRM in the 4.0 business environment. In essence, a blockchain is a very specific type of database, with characteristics that made it the ideal application for cryptocurrencies like Bitcoin. Within the context of digital- or e-HRM, there is potential to improve human resource management (HRM) processes using blockchains for employment screening, credential and educational verification, worker contracts and payments, among others, notwithstanding questions about its efficiency vis-à-vis conventional alternatives (Maurer, 2018; Zielinski, 2018). The research questions examined in this chapter include the following: What are the main characteristics of blockchains? Will they be adopted in a widespread form, specifically by HRM departments? Constructs from Diffusion of Innovations (DOI) theory (Rogers, 2003) are used to inform the Human Resources scholarly and practitioner communities; this robust theory may help companies allocate resources (e.g., budgets, personnel, managerial time, etc.) in an evidence-informed manner. As of this writing, very few blockchain applications, such as credential verification and incident reporting, seem to hold a strong potential for adoption.

Details

HRM 4.0 For Human-Centered Organizations
Type: Book
ISBN: 978-1-78973-535-2

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Book part
Publication date: 8 November 2019

Irina Karachun, Alexey Korotkevich and Dzmitry Marushka

Financial technology or FinTech companies are relatively new players in the market. The ideas of alternative options to banks were widely discussed since October 2008 when Satoshi

Abstract

Financial technology or FinTech companies are relatively new players in the market. The ideas of alternative options to banks were widely discussed since October 2008 when Satoshi Nakamoto published a paper “Bitcoin: A Peer-to-Peer Electronic Cash System.” Since this topic is not yet thoroughly studied and investigated, it especially appeals to the author to elaborate on that topic and follow the evolution and development of FinTech as well as its influence over banks. Without no doubt there will be brought up probable limitations and challenges that could decelerate the advancement of fresh alternative to traditional banking. The development of technology in the financial sector has led to the formation of a new financial and technological ecosystem. Revolutionary innovations in the field of financial services arise in the interaction of both organizations among themselves and organizations with customers. In the interaction between organizations, new companies appear that develop and offer technologies in the field of payment services at a lower price and on more favorable terms, unlike financial organizations.

Details

Modeling Economic Growth in Contemporary Belarus
Type: Book
ISBN: 978-1-83867-695-7

Keywords

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