In this report, Biasi and Chakravorti study the rapidly growing although extremely volatile initial coin offering (ICO) market. We identify which traditional markets are being disrupted by ICOs. We discuss the necessary infrastructure needed to support this market. We analyze market dynamics in terms of volatility, global presence, the impact...
In this article, Chakravorti asks why have general-purpose stored-value cards been unsuccessful in penetrating the U.S. market? Three necessary conditions for a payment instrument to be successful are discussed: consumers and merchants need to be convinced of its advantages over existing payment alternatives for at least some types of transactions...
Chakravorti and Kobor provide a framework to study the creation and adoption of innovations by payment providers and processors. The authors identify several motivating factors for banks and nonbanks to invest in payment innovations. In addition, they discuss the evolutionary process of payment innovations from inception to commoditization and recognize...
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...