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Quantifying the sustainability of Bitcoin and Blockchain
Fry, John Serbera, J-P.
Fry, John
Serbera, J-P.
Publication Date
2020
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This article is © 2020 Emerald Group Publishing and permission has been granted for this version to appear here: https://bradscholars.brad.ac.uk. Emerald does not grant permission for this article to be further copied/distributed or hosted elsewhere without the express permission from Emerald Group Publishing Limited.
Peer-Reviewed
Yes
Open Access status
openAccess
Accepted for publication
10/02/2016
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Awarded
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Abstract
Purpose: We develop new quantitative methods to estimate the level of speculation and
long-term sustainability of Bitcoin and Blockchain.
Design/Methodology/Approach: We explore the practical application of speculative
bubble models to cryptocurrencies. We then show how the approach can be extended to
provide estimated brand values using data from Google Trends.
Findings: We confirm previous findings of speculative bubbles in cryptocurrency markets.
Relatedly, Google searches for cryptocurrencies seem to be primarily driven by recent price
rises. Overall results are sufficient to question the long-term sustainability of Bitcoin with
the suggestion that Ethereum, Bitcoin Cash and Ripple may all enjoy technical advantages
relative to Bitcoin. Our results also demonstrate that Blockchain has a distinct value and
identity beyond cryptocurrencies - providing foundational support for the second generation
of academic work on Blockchain. However, a relatively low estimated long-term growth rate
suggests that the benefi ts of Blockchain may take a long time to be fully realised.
Originality/value: We contribute to an emerging academic literature on Blockchain and to
a more established literature exploring the use of Google data within business analytics. Our
original contribution is to quantify the business value of Blockchain and related technologies
using Google Trends.
Version
Accepted manuscript
Citation
Fry J and Serbera J-P (2020) Quantifying the sustainability of Bitcoin and Blockchain. Journal of Enterprise Information Management. 33(6): 1379-1394.
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Article