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dc.contributor.author
Chlioumi, Aikaterini
en
dc.date.accessioned
2022-12-07T07:57:49Z
dc.date.available
2022-12-07T07:57:49Z
dc.date.issued
2022-12-07
dc.identifier.uri
https://repository.ihu.edu.gr//xmlui/handle/11544/30123
dc.rights
Default License
dc.subject
blockchain
en
dc.subject
DLT
en
dc.subject
cryptocurrencies
en
dc.subject
Bitcoin
en
dc.subject
banking platforms
en
dc.title
The new distributed ledger technologies in banking transactions and transaction banking platforms
en
heal.type
masterThesis
en_US
heal.dateAvailable
2022-09-13
heal.language
en
en_US
heal.access
free
en_US
heal.license
http://creativecommons.org/licenses/by-nc/4.0
en_US
heal.recordProvider
School of Economics, Business Administration and Legal Studies, LLM in Transnational and European Commercial Law, Banking Law, Arbitration/Mediation
en_US
heal.publicationDate
2021-09-01
heal.bibliographicCitation
Chlioumi, Aiktetini, "The new distributed ledger technologies in banking transactions and transaction banking platforms", School of Humanities, social Sciences and Economics, Master of Laws (LL.M) in Transnational and European Commercial Law, Banking Law, Arbitration / Mediation, International Hellenic University, 2022.
en
heal.abstract
This dissertation was written as part of the LLM in Transnational and European Commercial Law, Banking Law and Mediation/Arbitration at the International Hellenic University. It is entitled “the new distributed ledger technologies in banking transactions and transaction banking platforms”. This dissertation presents the most significant features of the new distributed ledger technologies and in what manner they differentiate themselves from the nowadays - to a large degree - applicable. The dissertation furthermore examines a number of modern applications of the new distributed ledger technologies and how they can be, or already are, incorporated into the present banking system. These technologies being so modern, since they practically have just a little more than a decade of life, come across several challenges in technical, legal, and regulatory fields. Those challenges are displayed and analyzed in a likewise manner. Special mention is made of the public’s attitude towards the application of the new distributed ledger technologies in banking systems. At this point, I wish to acknowledge the contribution of Prof. Teresa Rodriguez De Las Heras Ballell, who has been my supervisor during the writing of my dissertation. It has been an honor and a pleasure working with such an esteemed academic and professional who has been so approachable in every change I needed her aid. Her notes, her suggestions, her guidance and her understanding and support throughout the period that the dissertation was being written, were of utmost importance and extremely valuable for me. I would also wish to thank for the help that he offered regarding the technical aspects of the subject I worked on, Mr. Dimitrios Karampournidis, Network Engineer Expert, whose help was vital during the writing of my dissertation. Last but not least, I need to thank my family and loved ones for the support and patience they showed through holidays, weekends and nights that I needed to isolate myself to work on my dissertation. Without their support, I could not have done it.
en
heal.tableOfContents
ABSTRACT
INTRODUCTION 7
1. IDENTIFYING THE DIFFERENT TERMS 8
1.1. DISTRIBUTED LEDGER TECHNOLOGIES (DLTS) 8
1.2. BLOCKCHAIN 8
1.3. BITCOIN, DIGITAL CURRENCIES, AND CRYPTOCURRENCIES 9
2. FINANCIAL INSTITUTIONS AND CRYPTOCURRENCIES 10
2.1. PUBLIC TRUST IN FINANCIAL INSTITUTIONS AFTER THE ECONOMIC CRISIS 10
2.2. CRYPTOCURRENCIES GAINING MARKET SHARE AND FINANCIAL INSTITUTIONS WANTING A PIECE OF THE PIE 11
2.3. COVID-19 ADVANCES DIGITAL TRANSACTIONS 12
2.4. DIGITAL TRANSACTIONS AND PRIVACY PROTECTION 13
2.4.1. Cash transactions and privacy concerns 13
2.4.2. Are cryptocurrencies the answer to private transactions? 14
2.5. CONCERNS ABOUT CRYPTOCURRENCIES ON BEHALF OF GOVERNMENTS AND REGULATORS 15
2.5.1. Criminal activity 15
2.5.2. Terrorism 15
2.5.3. Volatility of cryptocurrencies 16
2.5.4. Inflexibility of cryptocurrencies in relation to other means of payment in everyday transactions 16
2.5.5. Cost per transaction 16
2.5.6. The energy problem 18
2.5.7. Consumer protection 19
2.5.7.1. Who holds the most? The example of a country-owner 19
2.5.8. The problem of regulating the use of cryptocurrencies 19
2.5.9. Alternatives to cryptocurrencies introduced by central banks 20
3. DLT IN BANKING 21
3.1. FINANCIAL INSTITUTIONS MAY NOT BE WILLING TO ACCEPT CRYPTOCURRENCIES, BUT THEY SEEM WILLING TO ACCEPT THE TECHNOLOGY BEHIND THEM 21
3.2. THE ADVANTAGES OF DLT IN BANKING PLATFORMS 22
3.3. EXAMPLES OF APPLYING DLT IN BANKING 23
3.3.1. Cross-border Payments and Remittances: 23
3.3.2. Syndicated loans 23
3.3.3. Smart Contracts 24
3.3.4. Banking platforms with shared data 24
3.3.5. P2P funding 25
3.3.6. Non-performing loans (NPL) 25
3.3.7. Know Your Customer (KYC) 26
4. CONCLUSIONS 27
4.1. A NEW ERA IN BANKING 27
4.2. THE EXAMPLE OF PAYPAL 28
4.3. INCORPORATION OF DLT BY FINANCIAL INSTITUTIONS SEEMS TO BE FOR THEIR BENEFIT 29
BIBLIOGRAPHY & REFERENCES 30
en
heal.advisorName
Rodriguez De Las Heras Ballell, Teresa
el
heal.committeeMemberName
Grose, Christos
en
heal.committeeMemberName
Kleftouri, Nikoletta
en
heal.academicPublisher
School of Humanities, social Sciences and Economics, Master of Laws (LL.M) in Transnational and European Commercial Law, Banking Law, Arbitration / Mediation
en
heal.academicPublisherID
ihu
en_US
heal.numberOfPages
30
en_US
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