Is Bitcoin a decentralized payment mechanism?

We make a distinction between centralized, decentralized, and distributed payment mechanisms. A centralized payment mechanism processes a transaction using a trusted third party. A decentralized payment mechanism processes a transaction between the parties to the transaction. A distributed payment m...

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Bibliographische Detailangaben

Veröffentlicht in:	Journal of institutional economics 2020-08, Vol.16 (4), p.433-444
Hauptverfasser:	Luther, William J., Stein Smith, Sean
Format:	Artikel
Sprache:	eng
Schlagworte:	Currency Digital currencies Economic theory Financial institutions Peer to peer computing Privacy Reimbursement Third party Trust
Online-Zugang:	Volltext
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