DOCSLIB.ORG

Study on the Economic Impact of Blockchain on the Danish Industry and Labor Market«

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Study on the Economic Impact of Blockchain on the Danish Industry and Labor Market« EUROPEAN BLOCKCHAIN CENTER, IT UNIVERSITY OF COPENHAGEN FRAUNHOFER INSTITUTE FOR INDUSTRIAL ENGINEERING IAO Roman Beck | Michael Kubach | Kim Peiter Jørgensen | Rachelle Sellung | Christian Schunck | Lorenzo Gentile »STUDY ON THE ECONOMIC IMPACT OF BLOCKCHAIN ON THE DANISH INDUSTRY AND LABOR MARKET« ISBN 978-87-7949-372-8 TR-2019-206 Danish Industry Foundation Frederiksgade 17, 1265 Copenhagen, Denmark www.industriensfond.dk IT University of Copenhagen European Blockchain Center Rued Langgaards Vej 7, 2300 Copenhagen, Denmark www.itu.dk Fraunhofer Institute for Industrial Engineering Nobelstraße 12, 70569 Stuttgart, Germany www.iao.fraunhofer.de Authors: Prof. Dr. Roman Beck European Blockchain Center Phone: +45 7218 5323 [email protected] Dr. Michael Kubach Fraunhofer IAO Phone: +49 711 970-2428 [email protected] Kim Peiter Jørgensen, M Sc. European Blockchain Center Phone: +45 2675 5527 [email protected] Rachelle Sellung, M Sc. Fraunhofer IAO Phone: +49 711 970-2403 [email protected] Dr. Christian Schunck Fraunhofer IAO Phone: +49 711 970-2430 [email protected] Lorenzo Gentile European Blockchain Center Phone: +45 5264 9806 [email protected] Preface Preface Blockchain technology has received significant attention in recent years. The discussions have been around its functionalities, large potentials, as well as potentially new groundbreaking business models and on how the technology should be implemented to the benefit of Danish industry. Even though blockchain has been much debated, specific experiences from Danish companies are still limited, and until now there has been no systematic overview regarding the development of blockchain in Denmark. This has changed now with the report at hand. The report is a joined achievement of the European Blockchain Center at the IT University of Copenhagen, Fraunhofer Institute for Industrial Engineering, Confederation of Danish Industry, Statistics Denmark, and the Danish Industry Foundation and focuses on the application of blockchain technologies in different industry sectors in Denmark. The report provides a general introduction into blockchain, an analysis of clusters, a review of the comprehensive empirical study, a comparison with selected countries, scenario analyses, and finally recommendations in the conclusion. In other words, the report presents a mapping of Danish clusters from a blockchain perspective and a status overview on the application and future plans when it comes to blockchain in six different Danish industry sectors with a focus upon opportunities as well as barriers. Further relevant considerations from abroad are presented as well as an analysis of significant scenarios. The report provides the needed empirical background for decision makers in industry as well as politics regarding the status quo and future o blockchain and distributed ledger technologies in Denmark. The report provides first evidence that more effort is needed and a coordinated plan comprising private and public institutions to further stimulate the growth of the emerging blockchain industry as innovation driver for other industries. Further it seems advantageous to look at other countries whom have obtained valuable experiences already, as it is crucial to ensure the availability of the right competences for Danish businesses and industries – to the extent it is relevant – to obtain the knowledge and labor needed to develop a competitive Danish industry around blockchain. European Blockchain Center, IT University of Copenhagen, Fraunhofer IAO Study on the Economic Impact of Blockchain on the Danish Industry and Labor Market 3 Preface Precisely such challenges have been addressed by The Danish Industry Foundation in a theme-call on competitive power from blockchain. The call is based upon the general interest of the Fund in new technologies, and has resulted in a number of projects, each of which will create new knowledge and new experiences through the use of blockchain technologies in Danish corporate life. With the mapping at hand a baseline has been defined. Now it is time for creating positive impact and change. Enjoy reading! Thomas Hofman-Bang CEO The Danish Industry Foundation European Blockchain Center, IT University of Copenhagen, Fraunhofer IAO 4 Study on the Economic Impact of Blockchain on the Danish Industry and Labor Market Preface Executive Summary OVERVIEW Blockchain is regarded as equally important or even more important than the Internet. Blockchain enforces business logics among and across several stakeholders within a supply chain, thereby minimizing transaction costs, providing a transparent economy where transparency is needed. Thus, having a more precise understanding of the economic impact of the emerging blockchain industry on a macroeconomic level for Denmark is of vital importance for decision makers. The study at hand for Denmark is the first worldwide covering several industries on a national level. The study was made on behalf of Danish The Danish Industry Foundation by the European Blockchain Center at IT-University Copenhagen in close cooperation with Fraunhofer IAE and Danmarks Statistik. The purpose of the study is to provide solid evidence for decision makers in industry and politics about the future positioning and strategy for blockchain development and assimilation in Denmark. We specifically focus on how Danish companies can build and steer successful blockchain innovations while driving societal welfare at the same time. The empirical study follows a quantitative research methodology able to capture current interrelationships and numerical characteristics in the Danish economy. The study also discloses causal relations on why companies assimilate blockchain technologies, as well as drivers and barriers for doing so. With more than 1,300 responding Danish companies, or 44 percent response rate, the study covers over 20 percent of all companies in the researched industries in Denmark. WHY A STUDY ON BLOCKCHAIN? Blockchain has attracted great interest not only from the IT industry, but also from other industries and governments around the world. Originally associated with Bitcoin, blockchain is now spreading as a generic infrastructure technology offering extreme security, safety as well as new services to meet severely heightened requirements for privacy management of personal data. Increasingly, large companies are forming alliances and consortiums around blockchain technologies investing significantly in its research and development. As an example, more than 145 companies including IBM, Microsoft, Cisco, Intel, JP Morgan and Toyota form the Hyperledger consortium. The commonly used trusted third-party model to deal with the lack of trust is found increasingly to be inefficient, generating transaction costs that pile up to billions of U.S. dollars per year while excluding a significant number of the world's population and companies from participation. The trusted third-party model centralizes information and concentrates high power in third parties like financial institutions making them also a European Blockchain Center, IT University of Copenhagen, Fraunhofer IAO Study on the Economic Impact of Blockchain on the Danish Industry and Labor Market 5 Preface systemic risk as they are under constant attacks from hackers. The processing of information by third parties introduces delays in transactions and may be limited geographically, thus creating friction in transaction processes. As blockchain technologies are still at an early stage of development we only have seen the beginning so far, as the assimilation still faces technical, societal and legal challenges. A key driver for the use of blockchain however are the potential significant savings, as well as potential new services, made possible by technology-mediated trust. A blockchain is a distributed tamper-resistant digital ledger, a log of all individual transactions conducted within a given system. These lists are grouped into blocks that are chained together so that any manipulation of data afterwards is made extremely difficult. Blockchain uses cryptographic algorithms to verify the creation and transfer of digitally represented assets or information over a peer to peer network. An innovative combination of distributed consensus protocols, cryptography, and in-built economic incentives is used to govern the network. A transaction in a blockchain network is stored in the ledger only if a set of peers validate the transaction through a consensus algorithm. Blockchain technology decentralizes information storage, reduces or eliminates the need of third parties and provides trust through technology and algorithms often publicly verifiable. In a nutshell, blockchains are decentralized, immutable, secure, consensual, and programmable to enforce business logics. BLOCKCHAIN AND ITS IMPACT ON THE ECONOMY Blockchain technologies have the potential to change existing business models and thus have a transformative impact on industries, governments, and societies. For example, the World Economic Forum expects at least 10 percent of the global GDP being stored on blockchain platforms by 2025. Through blockchain technologies, value creators such as artists, composers, and designers could transfer value to their clients or consumers directly. Blockchain technologies make it possible to track and trace intellectual transfers of property thereby protecting equally producers and consumers of products and services. Blockchain allows the inclusion of self- regulating and self-controlling
Load more

Recommended publications
  • ACS Blockchain 2030
    April 2019 Blockchain 2030 A Look at the Future of Blockchain in Australia Report prepared by Alexandra Bratanova, Dinesh Devaraj, Joanna Horton, Claire Naughtin, Ben Kloester, Kelly Trinh, Ingo Weber and David Dawson CITATION Bratanova, A., Devaraj, D., Horton, J., Naughtin, C., Kloester, B., Trinh, K., Weber, I., Dawson, D. (2019) Blockchain 2030: A Look at the Future of Blockchain in Australia. CSIRO Data61: Brisbane, Australia. ACKNOWLEDGEMENTS We are grateful for the many individuals who kindly offered their time, expertise and resources in this project. In particular, we thank the members of CSIRO’s Data61 who kindly provided blockchain use cases for this report. We also thank the individuals who participated in the stakeholder workshop and interviews conducted as part of this project, as well as to the reviewers of the report draft including ACS Blockchain Committee members. Special thanks to Neil Alexander, Kevin Brown, Karen Cohen, Katrina Donaghy, Vincent Gramoli, Robert Hanson, Davor Miskulin, Mick Motion- Wise and Mark Staples for their constructive feedback on the draft report. We also thank Burning Glass Technologies for their assistance in navigating the online job advertisement data. Finally, we are grateful to Melissa Johnston and Dmitry Bratanov from Queensland University of Technology for their help with the design and 3D printing of the scenario model. CURRENCY CONVERSION All dollar values indicate AUD figures unless specified otherwise. AUD figures were converted from other currencies wherever it was methodologically sound to do so. Past and present conversions were done using a yearly average exchange rate for the relevant year, whereas forecast value conversions were done using 2018’s average exchange rate since November 2017.
    [Show full text]
  • Beauty Is Not in the Eye of the Beholder
    Insight Consumer and Wealth Management Digital Assets: Beauty Is Not in the Eye of the Beholder Parsing the Beauty from the Beast. Investment Strategy Group | June 2021 Sharmin Mossavar-Rahmani Chief Investment Officer Investment Strategy Group Goldman Sachs The co-authors give special thanks to: Farshid Asl Managing Director Matheus Dibo Shahz Khatri Vice President Vice President Brett Nelson Managing Director Michael Murdoch Vice President Jakub Duda Shep Moore-Berg Harm Zebregs Vice President Vice President Vice President Shivani Gupta Analyst Oussama Fatri Yousra Zerouali Vice President Analyst ISG material represents the views of ISG in Consumer and Wealth Management (“CWM”) of GS. It is not financial research or a product of GS Global Investment Research (“GIR”) and may vary significantly from those expressed by individual portfolio management teams within CWM, or other groups at Goldman Sachs. 2021 INSIGHT Dear Clients, There has been enormous change in the world of cryptocurrencies and blockchain technology since we first wrote about it in 2017. The number of cryptocurrencies has increased from about 2,000, with a market capitalization of over $200 billion in late 2017, to over 8,000, with a market capitalization of about $1.6 trillion. For context, the market capitalization of global equities is about $110 trillion, that of the S&P 500 stocks is $35 trillion and that of US Treasuries is $22 trillion. Reported trading volume in cryptocurrencies, as represented by the two largest cryptocurrencies by market capitalization, has increased sixfold, from an estimated $6.8 billion per day in late 2017 to $48.6 billion per day in May 2021.1 This data is based on what is called “clean data” from Coin Metrics; the total reported trading volume is significantly higher, but much of it is artificially inflated.2,3 For context, trading volume on US equity exchanges doubled over the same period.
    [Show full text]
  • BLOCKCHAIN REVOLUTION: Surviving and Thriving in the 2Nd Era of the Internet
    BLOCKCHAIN REVOLUTION: Surviving and Thriving in the 2nd Era of the Internet Alex Tapscott TWITTER: @alextapscott Swiss Re January 23rd, 2017 © 2016 Don Tapscott and Alex Tapscott. All Rights Reserved. The Technological Revolution mobility social big web data internet machine of things learning the cloud drones & robotics 2 | © 2016 The Tapscott Group. All Rights Reserved. The Technological Revolution mobility social big web data internet BLOCKCHAIN machine of things learning the cloud drones & robotics 3 | © 2016 The Tapscott Group. All Rights Reserved. The Internet of Information Web Photos Sites Word INFORMATION PDFs Docs PPT Voice Slides 4 | © 2016 The Tapscott Group. All Rights Reserved. The Internet of Information ▶ The Internet of Value Social Reputation Capital Intellectual Money property Loyalty Attestations Identity points ASSETS Contracts Deeds Carbon credits Energy ASSETS Coupons Other Financial Assets Bonds Premiums Music Art Votes Stocks Other Futures Receivables Swaps IOUs Visual Art Film 5 | © 2016 The Tapscott Group. All Rights Reserved. The Middleman 6 | © 2016 The Tapscott Group. All Rights Reserved. BLOCKCHAIN: The Second Era of the Internet 7 | © 2016 The Tapscott Group. All Rights Reserved. Just Another Block in the Chain 1 2 3 4 5 Block 53 Block50.dat Block51.dat Previous Block52.dat block: 00000zzxvzx5 Timestamp Proof of work: 00000090b41b 04.19.2016.09.14.5 x 3 Block53.dat Transaction: 94lxcv14 Community Reference to Distributed ledger New blocks added Permanent validation previous blocks time-stamp 8 | © 2016 The Tapscott Group. All Rights Reserved. 9 | © 2016 The Tapscott Group. All Rights Reserved. 10 | © 2016 The Tapscott Group. All Rights Reserved. Seven Transformations for a Prosperous World 1.
    [Show full text]
  • A Study on Governance for Decentralized Finance Systems Using Blockchain Technologies
    A Study on Governance for Decentralized Finance Systems Using Blockchain Technologies Keio Research Institute at SFC May 22nd, 2020 Table of Contents BACKGROUND AND PURPOSE OF THE STUDY ..................................................................... 2 BACKGROUND OF THE STUDY ........................................................................................................ 2 SUMMARY OF THE STUDY .............................................................................................................. 3 1. RESEARCH AND ANALYSIS OF MULTI-STAKEHOLDER GOVERNANCE ON THE INTERNET (IMSG) ........................................................................................................................ 6 1.1. THE INTERNET, THE COMMUNITY, AND THE PROCESS OF ITS GOVERNANCE ........................... 6 1.2. COMMUNITIES AND THEIR CHALLENGES FROM AN INTERNET GOVERNANCE PERSPECTIVE .... 22 1.2.1. ICANN ................................................................................................................... 22 1.2.2. IGF ........................................................................................................................ 53 1.2.3. Internet Society ..................................................................................................... 58 1.2.4. IETF ...................................................................................................................... 62 1.2.5. W3C .....................................................................................................................
    [Show full text]
  • Blockchain: a Journey To…..Where?
    Debevoise In Depth Blockchain: A Journey to…..Where? May 17 2018 Bitcoin—Birth of Blockchain1 On October 31, 2008, Satoshi Nakamoto made an announcement on the Cryptography Mailing List at metzdowd.com that “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party” and posted a white paper on www.bitcoin.org.2 The same author mined the genesis block of 50 Bitcoins on January 3, 20093 and released the Bitcoin software as an open source code on January 9, 2009.4 All these took place rather unceremoniously. So started an obsession with blockchain. The blockchain technology that underpins Bitcoin solved the problem that had long vexed the digital currency world—the “double spend” problem. A digital currency is represented in a digital file, which can be duplicated or falsified. How can we prevent an owner of a unit of digital currency from spending the same unit more than once without validation by a trusteed third party?5 The Bitcoin blockchain solved that problem by having network participants validate each Bitcoin transaction and thus having the network reach consensus.6 The Bitcoin platform thus started a “trustless” ledger system. In less than a decade, the world has witnessed an increasing fascination with blockchain in many corners of society from the academia to corporate boardrooms to government offices and, occasionally but most importantly, to cartoons in newspapers.7 Despite government crackdowns in some countries, we are still seeing a conveyer belt 1 This is largely based on the script of a key note address given at the Accounting Meeting of the 33rd Annual General Meeting of the International Swaps and Derivatives Association on April 24, 2018.
    [Show full text]
  • A Bitcoin Governance Network: the Multi-Stakeholder Solution to the Challenges of Cryptocurrency
    A BITCOIN GOVERNANCE NETWORK: The Multi-stakeholder Solution to the Challenges of Cryptocurrency Alex Tapscott Director, Institutional Equity Sales Canaccord Genuity Cryptocurrencies are products of the digital revolution and the networked age. As distributed networks with no central issuer and no central command, they are also a distinctly global phenomenon that will force national governments to not only re-evaluate a number of substantive regulatory issues but perhaps also re-think the very nature of governance itself. Cryptocurrencies are wresting control over many issues from traditional decision-makers. Multi-stakeholder governance, founded on principles of transparency and inclusiveness and legitimized by consensus, is the 21st century solution. When leaders of the old paradigm adapt and collaborate more closely with private enterprise, civil society organizations and other stakeholders in the network, then bitcoin and other cryptocurrency technologies can fulfill their potential and gain widespread adoption. © Global Solution Networks 2014 A Bitcoin Governance Network: The Multi-stakeholder Solution to the Challenges of Cryptocurrency i Table of Contents Idea in Brief 1 The Challenge for Governments 2 How Cryptocurrencies Work 4 Bitcoin Volatility and Price 5 Opportunities and Challenges 6 Opportunities 6 Challenges 11 A Bitcoin Governance Network 13 GSN Types for a Bitcoin Governance Network 16 Standards Networks 16 Policy Networks 18 Knowledge Networks 19 Watchdog Networks 20 The GSN Approach: Core Principles, Conclusions and
    [Show full text]
  • Blockchain in Japan
    Blockchain in Japan " 1" Blockchain in Japan " "The impact of Blockchain is huge. Its importance is similar to the emergence of Internet” Ministry of Economy, Trade and Industry of Japan1 1 Japanese Trade Ministry Exploring Blockchain Tech in Study Group, Coindesk 2" Blockchain in Japan " About this report This report has been made by Marta González for the EU-Japan Centre for Industrial Cooperation, a joint venture between the European Commission and the Japanese Ministry of Economy, Trade and Industry (METI). The Centre aims to promote all forms of industrial, trade and investment cooperation between Europe and Japan. For that purpose, it publishes a series of thematic reports designed to support research and policy analysis of EU-Japan economic and industrial issues. To elaborate this report, the author has relied on a wide variety of sources. She reviewed the existing literature, including research papers and press articles, and interviewed a number of Blockchain thought leaders and practitioners to get their views. She also relied on the many insights from the Japanese Blockchain community, including startups, corporation, regulators, associations and developers. Additionally, she accepted an invitation to give a talk1 about the state of Blockchain in Europe, where she also received input and interest from Japanese companies to learn from and cooperate with the EU. She has also received numerous manifestations of interest during the research and writing of the report, from businesses to regulatory bodies, revealing a strong potential for cooperation between Europe and Japan in Blockchain-related matters. THE AUTHOR Marta González is an Economist and Software Developer specialized in FinTech and Blockchain technology.
    [Show full text]
  • Tokenize the Musician
    Tokenize the Musician Stanley Sater* I. INTRODUCTION ................................................................................. 107 II. THE MUSIC INDUSTRY ...................................................................... 110 A. Control Concentrated Among the Few ............................. 110 B. A Record Label’s Deal ..................................................... 110 III. FINANCIAL INSTRUMENTS AND ECONOMICS ................................... 113 A. The Music Industry’s First Asset-Backed Security ........... 113 B. Blockchain Tokens: A New Financial Instrument ............ 114 1. The Economics of Blockchain Tokens ........................... 118 2. Initial Coin Offerings ...................................................... 119 IV. TOKENIZING THE MUSICIAN ............................................................. 120 A. Gramatik: The Tokenized Musician ................................. 122 B. Regulating ICOs ............................................................... 123 V. CONCLUSION .................................................................................... 128 I. INTRODUCTION The centralization of the music industry has led to an imbalance of power and misaligned incentives for those involved.1 With technological advancements, the cost of both creating and distributing music is negligible compared to prior decades.2 Musicians can connect directly to fans, yet major record labels retain their domineering status as middlemen, extracting exorbitant fees from this content exchange.3 As record sales
    [Show full text]
  • Alex Tapscott on the Impact of Paypal Accepting Payment Through Bitcoin and Cryptocurrencies
    Is it time to invest in Gold, or maybe just in Gold Miners? It seems like nowadays when we start a conversation about investing in gold one has to also include commentary on Bitcoin. There’s no doubt some investment funds that traditionally found safe haven in gold have drifted over to the much more volatile domain of cryptocurrencies. That’s just part of the evolution of the market and, as an investor, one has to adapt. Nevertheless, I will argue that whatever the reason you have for putting a portion of your portfolio into gold or cryptocurrency, you definitely need to have a strong stomach to manage the day-to-day gyrations in Bitcoin, Ethereum, for example, and the like. Not that gold doesn’t have its moments, like the weekend of August th6 when it essentially plummeted 7% over the weekend, but that was relatively short lived. Arguably gold has traded in a range from $1,700 to $1,950 for the last year. Bitcoin on the other hand has a one year range of roughly $10,000 to $63,000. I dare say a bit of a difference. Now before you start complaining and telling me to go get my walker, because I’m a dinosaur and haven’t kept up with the times, I need to point out that this isn’t an article about the merits of gold versus crypto. This is solely an article about exploring the potential of investing in gold currently and that’s it. The commentary on crypto is simply to highlight that gold may not be the “go-to” alternative investment it once was.
    [Show full text]
  • Blockchain Technology: an Interconnected Legal Framework for an Interconnected System
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Case Western Reserve University School of Law _______________________________________________________________ Journal of Law, Technology & the Internet • Vol. 9 • 2018 _______________________________________________________________ BLOCKCHAIN TECHNOLOGY: AN INTERCONNECTED LEGAL FRAMEWORK FOR AN INTERCONNECTED SYSTEM By Marina Fyrigou-Koulouri* ABSTRACT In 2018, someone hiding behind the pseudonym Satoshi Nakamoto created Bitcoin, the first decentralized cryptocurrency operating without a central bank or authority. However, the true revolution seems to be its underlying technology; blockchain. Today, a lot of discussion is taking place around the legal issues of this nascent technology. This paper focuses on blockchain and the law. After exploring blockchain’s basic features, it will propose an international regulatory framework suitable for this technology’s characteristics and its borderless nature. * Marina Fyrigou-Koulouri is a lawyer holding a Dual Master’s Degree in International Finance and Law - LLM (University of Pennsylvania) and Master in Economics and Business (Sciences Po) - as well as a Wharton Business and Law Certificate from Wharton School. She obtained her Law Degree from Democritus University of Thrace, Greece. Journal of Law, Technology & the Internet • Vol. 9 • 2018 Blockchain Technology: An Interconnected Legal Framework for an Interconnected System _______________________________________________________________ INTRODUCTION On October 31, 2008, Satoshi Nakamoto, following his vision to create a purely peer-to-peer version of electronic cash, published a paper1 developing a protocol for digital cash that used Bitcoin. Bitcoin is a digital cryptocurrency; however, the underlying technology Bitcoin uses is the Blockchain.2 Now, Blockchain is considered the technology most likely to have the greatest impact on the world in the next decades.
    [Show full text]
  • SEC Cryptocurrency Enforcement: Q3 2013–Q4 2020
    Economic and Financial Consulting and Expert Testimony SEC Cryptocurrency Enforcement Q3 2013–Q4 2020 Table of Contents Executive Summary 1 Number of Enforcement Actions 2 Allegations in Enforcement Actions 3 Allegations in Litigations vs. Administrative Proceedings 4 ICOs as Unregistered Securities Offering Allegations 6 Defendants in Litigations vs. Administrative Proceedings 7 Litigation Duration 9 Litigation Venue 10 Litigation Allegations by Venue 11 Appendices 12 Methodology 22 Endnotes 23 About the Author 26 i Cornerstone Research | SEC Cryptocurrency Enforcement: Q3 2013–Q4 2020 Table of Figures Figure 1: Number of SEC Cryptocurrency Enforcement Actions and Trading Suspensions 2 Figure 2: Allegations in SEC Cryptocurrency Enforcement Actions 3 Figure 3a: Allegations of Fraud in the Offer or Sale of Securities in SEC Cryptocurrency Enforcement Actions 4 Figure 3b: Allegations in SEC Cryptocurrency Litigations 5 Figure 3c: Allegations in SEC Cryptocurrency Administrative Proceedings 5 Figure 4: ICOs as Unregistered Securities Offering Allegations in SEC Cryptocurrency Enforcement Actions 6 Figure 5a: Defendants in SEC Cryptocurrency Litigations 7 Figure 5b: Respondents in SEC Cryptocurrency Administrative Proceedings 8 Figure 6: Time from Complaint to Resolution in SEC Cryptocurrency Litigations 9 Figure 7: Courts and Presiding Judges in SEC Cryptocurrency Litigations 10 Figure 8: Types of Allegations in SEC Cryptocurrency Litigations by Court Venue 11 Appendix 1: SEC Cryptocurrency Enforcement Actions 12 Appendix 2: SEC Cryptocurrency Trading Suspension Orders 19 Appendix 3: SEC Cryptocurrency Press Releases, Public Statements and Speeches, and Investor Alerts 20 ii Cornerstone Research | SEC Cryptocurrency Enforcement: Q3 2013–Q4 2020 Executive Summary The U.S. Securities and Exchange Commission (SEC) brought its first cryptocurrency-related enforcement action in July 2013.
    [Show full text]
  • Arcane Crypto to Be Included in Coinshares Elwood Global Blockchain Index
    Arcane Crypto to be included in CoinShares Elwood Global Blockchain Index Stockholm, July 29, 2021 – Arcane Crypto today announces that the company will be included in CoinShares Elwood Global Blockchain Index as of August 2, 2021. The decision follows an assessment by CoinShare of Arcane Crypto’s activities against the Elwood Blockchain Global Equity Index’s criteria. The Elwood Blockchain Global Equity Index aims to offer exposure to listed companies that participate or have the potential to participate in the blockchain or cryptocurrency ecosystem. The index aims to capture the potential investment upside generated by earnings related to the adoption of blockchain technologies or cryptocurrency. The index is calculated and distributed by Solactive and is reviewed and rebalanced quarterly. The original announcent about Arcane’s inclusion together with companies like Sqaure Inc, Coinbase Global INC and Galaxy Digital Holdings LTD was published on July 26, 2021 at Solactive’s website: link For further information, please contact: Torbjørn Bull Jenssen, CEO, Arcane Crypto AB E-mail: [email protected] About Arcane Crypto Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research division. Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation. Subscribe to press releases and financial information: https://investor.arcanecrypto.se/ For more information, please visit: https://www.arcane.no/ The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel.
    [Show full text]