Topic:A Quality-Ladder Model of Digital Currencies
Speaker:Kim-Sau Chung(锺剑修), the Hong Kong Baptist University
Location:Room 217, Guanghua Building 2
Ever since the fifirst cryptocurrency, Bitcoin, was invented in 2008, the number of cryptocurrencies has exploded. Many of them were invented with various improvements over previous ones, such as a less wasteful consensus mechanism, a stronger cryptographic technology, and a more flflexible transaction protocol. These innovations, just like innovations in more traditional economic sectors, are costly for the corresponding innovators. We introduce a quality-ladder model of digital currencies, and address the question of whether, in a decentralized market of privately-issued currencies, innovators have adequate incentives to innovate for the benefifit of the society.
Prof Chung Kim Sau obtained his PhD at Wisconsin. He teaches economics at Hong Kong Baptist University. His research interest is mechanism and institutional design. His recent research includes China's rural land system, incomplete contracts and law, and dynamic inconsistency.
Your participation is warmly welcomed!