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Market-Based Solutions to Vital Economic Issues

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Kenan Institute 2022 Annual Theme: Stakeholder Capitalism
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Market-Based Solutions to Vital Economic Issues

blockchain

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The crash of the stablecoin TerraUSD last month prompted talk among policymakers of tighter regulations for cryptocurrency markets, a world that was built around the ideas of independence and privacy. In this week’s Kenan Insight, experts who participated in a recent webinar discuss how regulation can move crypto forward and what form new rules and infrastructure might take.

Join the UNC Tax Center on Wednesday, Dec. 8, 2021, from 11 a.m. to 12:40 p.m. EST for Demystifying Blockchain & Cryptocurrency. This webinar, which provides 2.0 CPE credits, is the fourth in a series of tax policy webcasts jointly hosted by the Kenan Institute-affiliated UNC Tax Center and the AICPA.

Certification by analysts on a FinTech platform that harnesses the “wisdom of crowds” is associated with successful initial coin offerings (ICOs). We show that favorable ratings by a group of analysts with diverse backgrounds positively predict fundraising success and long-run token performance. Analysts’ ratings also help detect potential fraud ex ante. We document that analysts have career concerns and are incentivized by the platform to issue informative ratings. Overall, our results suggest that a market-based certification process that relies on a diverse group of individuals is at play in financing blockchain startups.

Volodymyr Babich, Professor of Operations and Information Management at the McDonough School of Business at Georgetown University, will present his co-authored paper with McDonough School Houston Professor Gilles Hilary “Linking the chains: can supply chain challenges become blockchain opportunities?” during a lunchtime seminar in Kenan Center 204.