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http://dx.doi.org/10.22693/NIAIP.2020.27.2.020

Distributed Ledger Technology and Cryptocurrency Market Potential Index  

Nguyen, Kevin (Global Biz Development Manager at SK Telecom)
Oh, Jeong-Hun (Graduate School of International Studies, Korea University)
Publication Information
Informatization Policy / v.27, no.2, 2020 , pp. 20-39 More about this Journal
Abstract
This paper introduces the Cryptocurrency Market Potential Index (CMPI) in order to measure the potential of the blockchain-backed cryptocurrency. Adopting the Distributed Ledger Technology (DLT) system as a conceptual framework, the whole process from development to implementation and adoption of blockchain-backed cryptocurrency are examined. This paper selects 30 variables and employs factor analysis for multivariate analysis to produce the CMPI for a total of 213 countries. The results show that although cryptocurrency is decentralized, its development and usage might still be very centralized in Europe, North America, hotspots in the Asia-Pacific, Middle East, and CIS regions. This result also highlights how important development and implementation are before adoption so that consequent financial transactions can take place.
Keywords
cryptocurrency; distributed ledger technology; blockchain; index; factor analysis;
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Times Cited By KSCI : 3  (Citation Analysis)
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