The emergence and development of the cryptocurrency as a sign of global financial markets financialisation

Authors

  • Robert Poskart University of Opole

DOI:

https://doi.org/10.24136/ceref.2022.004

Keywords:

cryptocurrency, financialisation, global financial markets

Abstract

The article presents one of the most important, in the author's opinion, manifestations of further intensification of the processes of financialisation of global financial markets, which was the emergence of decentralized digital currencies (so-called cryptocurrencies) based on blockchain technology. Their creation and existence on the global financial market have been widely considered as one of significant effect of the global financial crisis, which symbolic beginning is September 15, 2008, when one of the largest US investment banks Lehman Brothers collapsed. The worldwide COVID-19 pandemic has only highlighted the importance of this effect of financialization. The purpose of the article is to present the impact of cryptocurrencies, including bitcoin, on the deepening of the processes of financialisation of modern financial markets. Author analysis is based on statistical data, on the literature review and documents of world financial institutions.

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Published

2022-03-31

How to Cite

Poskart, R. (2022). The emergence and development of the cryptocurrency as a sign of global financial markets financialisation. Central European Review of Economics & Finance, 36(1), 53–66. https://doi.org/10.24136/ceref.2022.004

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