Virtual Currencies: Bitcoin &amp; What Now after Liberty Reserve and Silk Road?

Trautman, Lawrence J.

doi:10.2139/ssrn.2393537

Cited by 68 publications

(46 citation statements)

References 20 publications

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“…Cryptocurrencies, including bitcoin, have been described as a tool which may enable illegal activity, as they offer a “venue for individuals to generate, transfer, launder and steal illicit funds with some anonymity” (Federal Bureau of Investigation, , p.2). Several studies have examined the role of cryptocurrencies in criminal activities, including in money laundering and tax evasion (Gruber, ); child pornography, assassination markets and the international drug trade (Trautman, ); as well as terror financing (Cockfield, ). The perceived anonymity of cryptocurrencies is what these studies cite as an enabling factor in facilitating crime (Gruber, ; Cockfield, ; Trautman, ).…”

Section: Fungibility Privacy and Private Currenciesmentioning

confidence: 99%

“…Several studies have examined the role of cryptocurrencies in criminal activities, including in money laundering and tax evasion (Gruber, ); child pornography, assassination markets and the international drug trade (Trautman, ); as well as terror financing (Cockfield, ). The perceived anonymity of cryptocurrencies is what these studies cite as an enabling factor in facilitating crime (Gruber, ; Cockfield, ; Trautman, ). Such studies echo Rogoff () and his criticism of cash – the anonymity of physical cash and the difficulty in tracing its provenance enable criminal enterprise.…”

Section: Fungibility Privacy and Private Currenciesmentioning

confidence: 99%

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The Identity, Fungibility and Anonymity of Money

Berg

2019

J of App Econs and Policy

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The fungibility of money is a characteristic which contributes to the quality of money. Fungibleness is itself related to the technical ability to associate a unit of currency with its past instances of exchange. This history is analogous to the identity of money. The identity of an individual unit of exchange is increasingly important as cash becomes less common, and banks require more information about the provenance of money. Private currencies, including Bitcoin and Libra, are themselves subject to tracking. The prior financial – and potentially political – activities of a user determine the fungibility of the currency they hold. Different money technologies provide varied levels of privacy, while cryptocurrencies offer users the potential to choose the level of information they share.

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Section: Fungibility Privacy and Private Currenciesmentioning

confidence: 99%

Section: Fungibility Privacy and Private Currenciesmentioning

confidence: 99%

The Identity, Fungibility and Anonymity of Money

Berg

2019

J of App Econs and Policy

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“…Trautman () discusses the regulation of crypto‐currencies and provides details on many of the highest profile criminal cases up until 2014. To cite just a few, the Liberty Reserve case involved money laundering; the Western Express International case involved money laundering and servicing criminal transactions in Eastern Europe; and the e‐gold case involved money laundering and unlicensed money transfers (Trautman, ; Levin et al ., ). Böhme et al .…”

Section: What Purpose Do Crypto‐currencies Serve?mentioning

confidence: 99%

Crypto‐currencies – An Introduction to Not‐so‐funny Moneys

Smith

Kumar²

2018

Journal of Economic Surveys

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We introduce the distributed ledger (blockchain) technology of crypto‐currencies. We examine the ‘monetary’ attributes of crypto‐currencies, and describe some of the reasons they have been adopted. The paper discusses the mechanics of Bitcoin – the original crypto‐currency – to illustrate the fundamental elements of decentralized crypto‐currencies. We then provide a high‐level summary of the implications of crypto‐currencies for consumers, financial systems, and for monetary and regulatory authorities. We argue that crypto‐currencies are unlikely to supplant traditional fiat currencies and we anticipate an enduring role for financial intermediaries in facilitating credit.

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“…Considered by Herodotus a nation greatly inclined to adopt foreign customs, the Persians were able to connect the Mediterranean to central Asia, then followed by Alexander the Great's expansion to the Himalayas and eventually China's expansion towards the west, creating what would eventually be known as the silk roads, material which ultimately became a reliable international currency [3,4].…”

Section: The Sustainability Of Trading Fairly Textiles: History and Tmentioning

confidence: 99%

Fair Trade and Sustainability in the British Textile Industry: An Evolution from Exploitation towards Global ‘Equality’

María

2017

Textile Sci Eng

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Organisations are currently adjusting their value chains to take account of consumer demand for sustainable development. They are also responding to new understandings of sustainability in textiles and branding for consumers in a globalised world. This paper analyses and discusses the evolution of a global textile pipeline into the concept of global citizenship, in which individuals evaluate the international consequences of their local behaviour. Aiming to analyse the awareness and general understanding of consumers in regards to sustainability within the apparel industry a systemic multi-worldview field research was carried out between 2014 and 2016. To do this, three sets of semi-structured interviews were developed: one for the members of the BAFTS (British Association for Fair Trade Shops and Suppliers), one for the Marketing and Membership Coordinator of this body, and a third one to a three sustainable companies not associated to BAFTS (establishing a control group). Confronted with Sachs' five sustainable dimensions framework the interview results were analysed, as well as future implications.

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Virtual Currencies: Bitcoin & What Now after Liberty Reserve and Silk Road?

Cited by 68 publications

References 20 publications

The Identity, Fungibility and Anonymity of Money

The Identity, Fungibility and Anonymity of Money

Crypto‐currencies – An Introduction to Not‐so‐funny Moneys

Fair Trade and Sustainability in the British Textile Industry: An Evolution from Exploitation towards Global ‘Equality’

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