The Economics of Peer-to-Peer

Fontenay, Alain Bourdeau de; Fontenay, Eric Bourdeau de; Pupillo, Lorenzo

doi:10.1007/978-0-387-76450-4_3

Cited by 8 publications

(6 citation statements)

References 21 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…However, in the Middle Ages, the great dispute had been that between the Cross and the Crescent. 77 The Ottoman forces were crushed at the battle of Lepanto in 1571, and they were considered no longer a threat to the Knights. 78 Thus, the major justification for the Knights' existence as a military force -to stop the spread of Islam into Europe -had been removed.…”

Section: Maltese Gallarija and Concluding Remarksmentioning

confidence: 99%

Maltese ‘gallarija’: a gender and space perspective

Vakili-Zad

2014

European Review of History: Revue européenne d'histoire

View full text Add to dashboard Cite

In Malta, there are hundreds of balconies, especially in Valletta. However, the most fascinating ones are boxed-balconies known as 'Gallarijia' in Maltese. The Knights, an ultra religious Roman Catholic military Order who ruled Malta for over 260 years, adopted covered-balconies designed and used in Muslim countries; in the hope that it would ensure their segregated life style as well as; concealing their illicit sexual activities with Maltese women. The Grand Master de la Cassiere built the first covered-balcony in his palace in Valletta; soon it found affinity with the Maltese well-to-do families who called it their own. Although, cultural and technological transfers between Muslim and Christian worlds have always been a way of life in the Mediterranean region, successfully adopting an innovation from another culture requires suitable social, economic and cultural environment in the host country. The objective of this article is to explain how and why a Christian military order has successfully adopted a Muslim inspired design for their balconies. We suggest the key to understand this phenomenon and the paradox it poses is the status of women in Malta during the Knights' rule.

show abstract

Section: Maltese Gallarija and Concluding Remarksmentioning

confidence: 99%

Maltese ‘gallarija’: a gender and space perspective

Vakili-Zad

2014

European Review of History: Revue européenne d'histoire

View full text Add to dashboard Cite

show abstract

“…Then in 1990, the SEC deregulated the resale of private securities, through the adoption of Rule 144A, which permits unregistered securities to be resold to large institutional investors. 381 The SEC has since amended Rule 144, so that it now permits private securities to be resold after a holding period. 382 The net effect of this deregulation was to make it easier to sell private securities and to increase their liquidity.…”

Section: Why Now?mentioning

confidence: 99%

Moonshots

Wansley¹

2023

CBLR

View full text Add to dashboard Cite

In the last half-century, technological progress has stagnated. Rapid advances in information technology disguise the slow pace of productivity growth in other fields. Reigniting technological progress may require firms to invest in moonshots—long-term projects to commercialize innovations. Yet all but a few giant tech firms shy away from moonshots, even when the expected returns would justify the investment. The root of the problem is corporate structure. The process of developing a novel technology does not generate the kind of interim feedback that shareholders need to monitor managers and managers need to motivate employees. Managers who anticipate these agency problems invest in incremental innovations instead. In the last few years, a new structure designed to commercialize long-term innovations has emerged—the venture carveout. A venture carveout is a private company with one or two public company parents, outside private investors, and employee ownership. The parents provide intellectual property and a long-term strategic commitment. The private investors supply patient capital that insulates the project from short-term shareholder pressure. The employees’ equity motivates them to bring a product to market. The first venture carveouts are attempting to commercialize autonomous vehicles. If they succeed, they will validate a new model for innovation. This Article argues that venture carveouts could enable more companies to invest in moonshots, compete with the tech giants that dominate our economy, and accelerate technological progress.

show abstract

“…It is no surprise, then, that the SEC has suggested 230 mandatory disclosure from DeFi actors for investors to make informed decisions. 231…”

Section: Case Study: Defi Money Marketmentioning

confidence: 99%

Regulation of DeFi Lending

Kwon¹

2023

stlr

View full text Add to dashboard Cite

The rise of intermediary-less decentralized finance (“DeFi”) lending has led many to wonder how it should be regulated. Although DeFi lending could potentially offer reduced risks of centralization and market frictions, investors in DeFi lending are currently exposed to centralized risks and losses in the volatile market in the absence of regulation. The SEC suggested that the agency might regulate the sector under the federal securities laws. A truly decentralized lending project, however, does not involve any centralized entity that could carry the burden of compliance with the securities laws. This Note shows that many DeFi lending projects are not truly decentralized and are in various stages of decentralization. Unlike P2P lenders and financial intermediaries that bear the costs of compliance, many DeFi developers seek to build automated lending systems and gradually relinquish their control over their creation. However, with the lack of regulation, the investors have no means to tell actors who seek to build secure decentralized systems from those who do not in the early stage of DeFi protocol development. To address the issue, this Note proposes a three-part framework that would oversee the process of decentralization for DeFi lending projects, drawing its structure from the U.S. banking regulation focused on supervision. First, the framework recognizes the value of decentralization in reducing market frictions and risks of centralization. Second, the framework establishes a federal agency that oversees the process of decentralization on the flexible safety and soundness standard of Glass-Steagall Act. Third, the framework grants enforcement powers to the federal agency to sanction DeFi platforms that do not comply with government regulations.

show abstract

The Economics of Peer-to-Peer

Cited by 8 publications

References 21 publications

Maltese ‘gallarija’: a gender and space perspective

Maltese ‘gallarija’: a gender and space perspective

Moonshots

Regulation of DeFi Lending

Contact Info

Product

Resources

About