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Blockchain at the European Level
Drašković, Teodora ; Kunertová, Tereza (advisor) ; Vondráčková, Aneta (referee)
Blockchain at the European Level Abstract The objective of this master thesis is to provide a basic overview of the blockchain technology, its features and its potential utilization, including an overview of European legal regulations that might be applicable to the technology, under certain conditions. In the first chapter, the master's thesis sets forth the legal framework of the EU primary law that establishes or can establish the EU's competence to act in the matters of blockchain technology, depending on its legal qualification (especially in the context of the internal market - namely the free movement of services and capital). The second and third chapters provide essential description of features of blockchain and cryptocurrency and related services. A more detailed description is provided in Annexes I-IV of this thesis. Further, the legal status and applicable regulation of cryptocurrencies are assessed at the European and national levels and in terms of other global jurisdictions. The assessment also includes the recent CJEU's judgment in the case Hedqvist, according to which bidirectional exchange services (purchase of cryptocurrency for fiat currency and vice versa) are to be exempted from VAT obligation under the VAT directive. In line with the CJEU's reasoning and the Advocate General's...
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Alternative economies in rural Russia
Vargolskaia, Virginia ; Stöckelová, Tereza (advisor) ; Abu Ghosh, Yasar (referee)
The aim of this diploma thesis is to study how nonhuman agents are introduced and employed as a replacement for social reproduction by analyzing the environment and types of exchange practiced in the countryside of post-socialist Russia. The farm where my fieldwork took place exhibits many types of exchange, among which cryptocurrencies, seen as a socio- material algorithm, are used for the redistribution of essential goods and/or favors in a method similar to those used in former socialist and post-socialist economies. Drawing from the anthropological discussion on gift-commodity logic in the area, I look at cryptocurrencies as a hybrid - they hold the qualities of a gift (authority, name) and could be used to speculate with on the crypto stock-exchange (commodity). Key words: alternative economies, post-socialism, cryptocurrencies, algorithms, sociomateriality
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Are Cryptocurrencies Gambling Asset?
Novotný, Filip ; Krištoufek, Ladislav (advisor) ; Kuc, Matěj (referee)
Cryptocurrencies are newly emerging asset class that has received a lot of at- tention recently. Many investors are considering investing in them as a way of portfolio diversification. This thesis examines whether cryptocurrencies are gambling assets which could be important for investors' decision making and also for better understanding of the cryptocurrencies themselves. Gambling asset is understood in terms of stocks and therefore a comparison of crypto- currency and stock lottery characteristics is made. It is shown that in most time periods it cannot be said that cryptocurrencies exhibit larger lottery characteristics. Furthermore, it is shown that Litecoin, Ethereum, Ripple, Dash and Monero would classify as gambling asset, however, Bitcoin would not. JEL classification C12, C38, C55, G11, O33 Keywords cryptocurrencies, Bitcoin, gambling, gambling asset, investment Author's e-mail novotnyf1@gmail.com Supervisor's e-mail ladislav.kristoufek@fsv.cuni.cz 1
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The Volatility Patterns and Correlation of Cryptocurrencies: Overcoming the Bitcoin's primacy
Šembera, Tomáš ; Čech, František (advisor) ; Kočenda, Evžen (referee)
The thesis focuses at the evolution of cryptocurrencies or more precisely at the competition process between them in expanding to broader usage. The first main goal of the work is to find out, whether Bitcoin, as the first and still most capitalized cryptocurrency, has an advantage of higher maturity than alternative cryptocurrencies. The second goal is to analyze whether the individual cryptocurrencies are perceived individually by market participants, which could grant the alternative cryptocurrencies an option to compete with Bitcoin by offering better features as safer technology or faster transaction. The analysis of volatility patterns in their exchange rates via various GARCH models suggests that Bitcoin still has advantage in higher maturity. The analysis of the correlation between various alternative cryptocurrencies and Bitcoin finds positive correlation and thus suggests that the cryptocurrencies are rather perceived together. JEL Classification G17, G19, E40, E41 Keywords cryptocurrencies, volatility, GARCH, money, correlation Author's e-mail 79828843@fsv.cuni.cz Supervisor's e-mail frantisek.cech@fsv.cuni.cz
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Detection of Cryptocurrency Miners Based on IP Flow Analysis
Šabík, Erik ; Krobot, Pavel (referee) ; Žádník, Martin (advisor)
This master’s thesis describes the general information about cryptocurrencies, what principles are used in the process of creation of new coins and why mining cryptocurrencies can be malicious. Further, it discusses what is an IP flow, and how to monitor networks by monitoring network traffic using IP flows. It describes the Nemea framework that is used to build comprehensive system for detecting malicious traffic. It explains how the network data with communications of the cryptocurrencies mining process were obtained and then provides an analysis of this data. Based on this analysis a proposal is created for methods capable of detecting mining cryptocurrencies by using IP flows records. Finally, proposed detection method was evaluated on various networks and the results are further described.
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Comparison of Ether and Bitcoin
Šperl, Josef ; Revenda, Zbyněk (advisor) ; Metrah, Samy (referee)
In bachelor thesis, reader is introduced to elemental attributes of cryptocurrency, functions they can fulfil, advantages and disadvantages. He is informed about how cryptocurrency coins are created and released, and also how the payments work, especially in case of Ether, and other possible use of the platform it is built on for improving communicational and programational processes. The thesis is only theoretical. It analyze possibilities of investing into cryptocurrency and projects based on them. There is also explained the potencial of Ether, that can lead to great evolution of communication technology, and possibilities how the blockchain technology can be used to keep and transport data on a decentralized basis.
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Cryptocurrencies and the Future of Financial Markets
Škapa, Jan ; Stoklásek, Libor (referee) ; Budík, Jan (advisor)
This master’s thesis predicts the development and assesses the potential of cryptocurrencies in the areas of investment, trade and technology based on their technical, economic and legal analysis. Although the thesis deals with cryptocurrencies in general, the key focus is placed on their most prominent representative (Bitcoin) in trying to predict the effects on the future of financial markets from a wide, multidisciplinary perspective.
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Potential of cryptocurrencies in international trade
Plint, Sergey ; Hinčica, Vít (advisor) ; Jedlinský, Jakub (referee)
The aim of this bachelor's thesis is to assess the current development of cryptocurrencies, present information about their current state of development, introduce to four largest projects (Bitcoin, Ethereum, litecoin, Ripple) and to evaluate functioning of cryptocurrencies and blockchain technology in the context of start-ups and financial institutions. As a part of this work there is also provided an overview of legislation over cryptocurrencies globally, in the context of the European Union and the Czech Republic. Then there are also presented the actual use of technology, cutting-edge start-ups and their products. Finally the thesis evaluates the intersection of startups into different sectors and presents the views of experts working in various fields of economy.
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