With the support of: Dr Garrick Hileman & Michel Rauchs 2017 GLOBAL CRYPTOCURRENCY BENCHMARKING STUDY3 Global Cryptocurrency Benchmarking Study CONTENTS FOREWORDS 4 RESEARCH TEAM 6 ACKNOWLEDGMENTS7 EXECUTIVE SUMMARY 10 METHODOLOGY AND STUDY STRUCTURE 11 GLOSSARY 12 SETTING THE SCENE 14 EXCHANGES 28 WALLETS 48 PAYMENTS 68 MINING 86 APPENDICES106 REFERENCES AND ENDNOTES 110Forewords FOREWORDS The world of money and fnance is transforming before our eyes. Digitsed assets and innovatve fnancial channels, instruments and systems are creatng new paradigms for fnancial transacton and forging alternatve conduits of capital. The Cambridge Centre for Alternatve Finance, since its founding in 2015, has been at the forefront of documentng, analysing and indeed critcally challenging that digital fnancial transformaton. This Global Cryptocurrency Benchmarking Study is our inaugural research focused on alternatve payment systems and digital assets. Led by Dr Garrick Hileman, it is the frst study of its kind to holistcally examine the burgeoning global cryptocurrency industry and its key consttuents, which include exchanges, wallets, payments and mining. The fndings are both striking and thought-provoking. First, the user adopton of various cryptocurrencies has really taken of, with billions in market cap and millions of wallets estmated to have been ‘actve’ in 2016. Second, the cryptocurrency industry is both globalised and localised, with borderless exchange operatons, as well as geographically clustered mining actvites. Third, the industry is becoming more fuid, as the lines between exchanges and wallets are increasingly ‘blurred’ and a multtude of cryptocurrencies, not just bitcoin, are now supported by a growing ecosystem, fulflling an array of functons. Fourth, issues of security and regulatory compliance are likely to remain prevalent for years to come. I hope this study will provide value to academics, practtoners, policymakers and regulators alike. We thank Visa very much for its generous support of independent academic research in this important area. Bryan Zhang Co-founder and Executve Director (Interim) Blockchain has received a signifcant amount of analyst and press atenton over the last few years as this emerging technology holds signifcant potental. Use cases are many and varied: ranging from programmable cryptocurrencies to property deeds management to provenance tracking to votng records. Cryptocurrencies were the frst applicaton of this technology, and in doing so introduced an entrely new set of businesses, jobs and vocabulary to the world of payments. Visa has been exploring the impact of these technologies to determine how this new ecosystem will contnue to grow and evolve. Amongst all the excitement and enthusiasm in the press there has also been some hyperbole, and any eforts to provide a realistc snapshot of the industry should be welcomed. Visa welcomes opportunity to sponsor research from a respected organisaton, the Judge Business School at Cambridge University, which we trust, the reader will fnd objectve, informatve and insightul. Jonathan Vaux VP, Innovaton & Strategic Partnerships
。。。以上简介无排版格式，详细内容请下载查看