Crypto-assets : Regulating the "dark side" of financial blockchain
Broby, Daniel; (2018) Crypto-assets : Regulating the "dark side" of financial blockchain. In: Crypto-Assets. Frankfurt School Verlag, Frankfurt am Main. (In Press)
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Abstract
The use of financial blockchain and decentralised ledgers system has many benefits. These include immutability, efficiency and security. Digital financial information can be securely stored on a network of computational devices, with changes to those records being reflected simultaneously across that network, but there is also a dark side. Public blockchains, although visible, are typically anonymous and this presents its own challenges. The source and destination of digital asset transfer can be misleading and masked, sometimes resulting in money laundering. Tax can be evaded and the proceeds of trade transactions difficult to audit. There are other concerns that need to be addressed as the increasing scale and sophistication of blockchain transactions grows. The digital wallet trail becomes more opaque with size. These dark traits will need to be properly regulated if the technology is to be used for societal good.
ORCID iDs
Broby, Daniel ORCID: https://orcid.org/0000-0001-5482-0766;-
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Item type: Book Section ID code: 64636 Dates: DateEvent20 May 2018Published20 May 2018Accepted17 May 2018SubmittedSubjects: Social Sciences > Commerce > Accounting Department: Strathclyde Business School > Accounting and Finance Depositing user: Pure Administrator Date deposited: 27 Jun 2018 14:12 Last modified: 28 Sep 2024 13:37 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/64636