Token-based platform finance

We develop a dynamic model of a platform economy where tokens serve as a means of payment among platform users and are issued to finance investment in platform productivity. Tokens are optimally rewarded to platform owners when token supply (normalized by productivity) is low and burnt to boost fran...

Ausführliche Beschreibung

Gespeichert in:

Bibliographische Detailangaben
Veröffentlicht in:	Journal of financial economics 2022-06, Vol.144 (3), p.972-991
Hauptverfasser:	Cong, Lin William, Li, Ye, Wang, Neng
Format:	Artikel
Sprache:	eng
Schlagworte:	Blockchain Business models Conflicts of interest Cryptocurrency Digital currencies Durable goods Dynamic corporate financing Endogenous Finance Gig economy Inconsistency Investment Optimal token supply Owners Payment systems Productivity Technology Time inconsistency Token/coin offering
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!

Schreiben Sie den ersten Kommentar!