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Articles by Jacob Leshno
Can open decentralized ledgers be economically secure?
Paper 2023/1516 Abstract Traditional payment processors are the subject of antitrust concerns and regulations. Open decentralized ledgers (e.g., Bitcoin) provide an alternative. They do not rely on a central authority, avoiding antitrust and monopoly concerns. However, the open nature of these systems gives rise to many challenges, including fundamental questions about their security.
Even in Kazakhstan, Bitcoin Can't Escape Geopolitics
We live in an era of contradictions, and nothing embodies those contradictions like cryptocurrency. This futuristic method for anonymous virtual payments over the internet employs the much-hyped blockchain technology. In short, each crypto coin uses a publicly visible database that tracks all the trading activity in its network with code that is nigh impossible to fraudulently alter.
An Economist's Perspective on the Bitcoin Payment System
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The economics of how Bitcoin works
A cryptocurrency is a digital currency stored on an open and decentralised electronic payment system. Following Nakamoto (2008), cryptocurrencies have caught the attention of industry, academia, and the public at large, with Bitcoin being the most prominent. There are hundreds of cryptocurrencies, many running on large and reliable decentralised computer networks. An innovative computer science design called the blockchain has enabled this wave.
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