As part of training of Indian senior bankers, the National Institute of Bank Management located in Pune, India, invited Bob Chakravorti to teach three courses. This course is on the viability and applications of cryptocurrencies and crypto assets.
In this presentation, Sujit "Bob" Chakravorti discusses how new entrants are disrupting payments. Specifically, he looks at how FinTechs are leveraging new technologies and Big Tech firms leveraging their large user bases to provide payment services to underserved segments often at lower prices. He also analyzes the role of the...
In this chapter, the authors study how cryptotoken issuance, also referred to as initial coin offerings and security token offerings, may disrupt funding markets such as venture capital, crowdfunding, and private equity. The authors discuss the necessary infrastructure to support this new asset class. The authors analyze the market evolution...
This article concerns electronic bill presentment and payment (EBPP) in the business-to-consumer (B2C) marketplace and, more specifically, remote bill payments (as opposed to payments made at the point of sale).B2C EBPP applications are plausibly among the most promising innovations to shift U.S. consumer payments from checks to electronic alternatives. By...
Over the last decade, consumers have tripled their use of credit cards as more merchants have increased their acceptance of them. This increase suggests that incentives in today’s marketplace favor greater credit card use by consumers and acceptance by merchants. In this paper, Chakravorti and Shah study the set of...
Chakravorti investigates payments system reforms begun by the Bank of Mexico in 1994. The goals of these reforms are to reduce the amount of uncollateralized intraday credit extended by the Bank of Mexico (previously unlimited), to promote a market-based allocation of intraday credit for interbank payments, and to move large-value...
In this article, Chakravorti argues that consumers’ use of newer, less expensive payment alternatives depends on the incentives merchants and payment instrument providers offer, along with consumers’ comfort level and faith in the instruments. Once consumers are comfortable with the newer electronic alternatives, cost of usage, convenience, and frequent-use incentives...