Tema broja

AKTUELNO pr4/2019

DETERMINANTE TRŽIŠTA KRIPTOVALUTA

Sažetak

Nastanak novog ekosistema na virtuelnom finansijskom tržištu je uzrokovan primenom blockchain tehnologije u svrhu proizvodnje kriptovaluta. Predmet rada predstavljaju upravo determinante tog sistema, odnosno, političke, ekonomske, socijalne i pravne determinante koje vrše uticaj na razvoj i adaptaciju kriptovaluta na globalnom nivou. Cilj rada predstavlja definisanje determinanti tržišta virtuelnog novca kako bi se obezbedila osnova za dalja istraživanja. Takođe, imajući u vidu prostorna ograničenja ovog rada, kao etalon za sve kriptovalute biće uzet BitCoin, čime se ne umanjuje značaj ostalih kriptovaluta na globalnom tržištu. Teorijski izvori obuhvataju naučna istraživanja različitih organizacija kao što su RAND, IMF, European Central Bank, kao i relevantnih istraživača. Metodološki, rad se u najvećoj meri oslanja na sekundarne izvore podataka iz pomenutih istraživanja, odnosno na analizu sadržaja tih izvora. Zaključili smo da je potpuna identifikacija svih činilaca i faktora tržišta kriptovaluta od izuzetnog značaja za dalji razvoj i eventualnu širu globalnu upotrebu kriptovaluta.

Ključne reči:

Reference

    • Aaron Van Wirdum „Is Bitcoin Anonymous? A Complete Beginner’s Guide“, https://bitcoinmagazine.com/articles/is-bitcoin-anonymous-a-complete-beginner-s-guide-1447875283/, 2015.
    • Andrew Marshall „P2P Cryptocurrency Exchanges, Explained”, https://cointelegraph.com/explained/p2p-cryptocurrencyexchanges-explained, 2017.
    • Communication From the Commission to the European Parliament, the Council, the European Central Bank, the European Economic and Social Committee and the Committee of the Regions. FinTech Action Plan: For a More Competitive and Innovative European Financial Sector, COM (2018) 109 final (Mar. 8, 2018), http://eurlex.europa.eu/resource.html?uri=cellar:6793c578-22e6-11e8-ac73-01aa75ed71a1.0001.02/DOC_ 1&format=PDF, archived at http://perma.cc/F7NP-YPCP.
    • Dragan Đurđević i Miroslav Stevanović „Društvene mreže i BitCoin: Izazov nacionalnoj bezbednosti u Kiber prostoru”, Nacionalna bezbednost, Akademija za nacionalnu Bezbednost, Beograd, Srbija, 3/2016.
    • Dragan Đurđević i Miroslav Stevanović „Problemi sa kojima se suočava IT sektor u borbi protiv pranja novca u Srbiji“, Ekonomska teorija i praksa, FIMEK, Novi Sad, Srbija, 1/2014.
    • Dan Miller “Natural Language: The User Interface for the Fourth Industrial Revolution”, Opus Research, Inc, 350 Brannan St., Suite 340, San Francisco, CA 94107, USA, septembar 2016.
    • European Central Bank „Virtual currency schemes – a further analysis“, Retrived from https://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemesen.pdf, 2015.
    • European Commission Staff „Report from the Commission to the European Parliament and to the Council on the assessment of the risks of money laundeirng and terrorist financing affecting the internal market and relating to cross-border situations, Annex, Part 2”, Brussels, 2017.
    • Firdous Ahmad Bhat „Handbook of Research on Network Forensics and Analysis Techniques“, IGI Global, 2008.
    • Gesetz über das Kreditwesen [KWG] [Banking Act], Sept. 9, 1998, Bundesgesetzblatt [BGBL.] [Federal law gazette] I at 2776, § 1, para. 11, sentence 1, no. 7, http://www.gesetze-im-internet.de/kredwg/KWG.pdf.
    • https://coinmarketcap.com/all/views/all/
    • https://thenextweb.com/hardfork/2019/03/13/data-china-is-patenting-all-the-blockchain-tech-despite-banning-cryptocurrency/
    • Harish Natarajan, et al. “Distributed Ledger Technology (DLT) and blockchain”, World Bank Group, FinTech note, no. 1. Washington, D.C., 2017.
    • Hari Krishnan, et al. „Cryptocurrency Mining – Transition to Cloud“, International Journal of Advanced Computer Science and Applications, 2015, Vol. 6, No. 9.
    • IIF team “Getting Smart: Contracts on the Blockchain”, Institute of international finance, Washington, DC, USA, 2016.
    • Ivana Cunjak Mataković, Hrvoje Matakovic „Kriptovalute – sofisticirani kodovi manipulacije“, International Journal of Digital Technology & Economy, Algebra University College, Zagreb, 2018.
    • Jason Weinstein et al. „Promoting innovation through education: The blockchain industry, law enforcement and regulators work towards a common goal”, Global Legal Group Ltd. 59 Tanner Street, London SE1 3PL, United Kingdom, 2019.
    • Luke Tredinnick „Cryptocurrencies and the blockchain“, Business Information Review, London Metropolitan University, UK, 2019.
    • Matthew Sadiku et al. „Smart Contracts: A Primer“, Journal of Scientific and Engineering Research, 2018.
    • Mira Nagarajan, „An Analysis of Cryptocurrency Governance“, University of Pennsylvania, USA, 2018.
    • Miloš Grujić, Goran Radivojac, (2018) „Fenomen kriptovaluta – spoj finansija i tehnologija na finansijskim tržištima“, Journal of Contemporary Economics, Banja Luka, 2018.
    • Miša Stojadinović „Evropa i multipolarni svet“, Politika nacionalne bezbednosti, Institut za političke studije, Beograd, 2018.
    • Manuel Castells Moć umreženog društvа, Golden Marketing, Zagreb, 2000.
    • Marc Van De Looverbosch “Crypto-effecten: tussen droom en daad”, TRV-RPS, Corporate Finance Lab, Legal aspetst of corporate finance and insovlency, 2018.
    • Nikolei Kaplanov „Nerdy Money: Bitcoin, the private digital currency, and the case against its regulation“, Temple Law Review, 2012.
    • Olyga Ssegeevna Bolotaeva, at al. „The Legal Nature of Cryptocurrency“, North-Eastern Federal University, Yakutsk, Russia, 2019.
    • Predrag Dimitrijević „Strateško planiranje javnom upravom“, Administracija i javne politike, Institut za političke studije, Beograd, 2018.
    • Paolo Tasca “Digital currencies: Principles, Trends, Opportunities and risks”, ECUREX research working paper, London, UK, 2015.
    • Peter Van Valkenburgh Peter & Jerry Brito “State Digital Currency Principles and Framework”, Washington, DC, USA, 2015.
    • Pascal Witzig and Victoriya Salomon “Cutting out the middleman: a case study of blockchain-induced reconfigurations in the Swiss Financial Services Industry”, Working Paper 1, the Circulation of Wealth, Université de Neuchâtel, 2018, str. 5.
    • Proposal for a Directive of the European Parliament and of the Council Amending Directive (EU) 2015/849 on the Prevention of the Use of the Financial System for the Purposes of Money Laundering or Terrorist Financing and Amending Directive 2009/101/EC, COM (2016) 450 final (July 5, 2016), https://eur-lex.europa.eu/legalcontent/EN/TXT/PDF/?uri=CELEX:52016PC0450&from=EN, archived at http://perma.cc/D4NP-V5UA.
    • Puli Sreehari et al. (2017), “SMART WILL converting the legal testament into a smart contract”, Proceedings of the International Conference on Networks & Advances in Computational Technologies.
    • Rosario Girasa Regulation of Cryptocurrencies and Blockchain Technologies, Palgrave Studies in Financial Services Technology, Pаlgrave Macmillan, 2018.
    • Robby Houben, Alexander Snyers „Cryptocurrencies and blockchain Legal context and implications for financial crime, money laundering and tax evasion“, Policy Department for Economic, Scientific and Quality of Life Policies, European Parlament, 2018.
    • Ryan Farell „An Analysis of the Cryptocurrency Industry“, University of Pennsylvania, USA, 2015.
    • Satoshi Nakamoto „Bitcoin: A Peer-to-Peer Electronic Cash System“, https://bitcoin.org/bitcoin.pdf, 2008.
    • Stevan Veljović „Tehnološke promene kao faktor razvoja socijalne politike i upravljanja ljudskim kapitalom u Srbiji“, Godišnjak Fakulteta političkih nauka, Univezitet u Beogradu, Beograd, jun 2019.
    • Snežana Đorđević Analiza javnih politika, Fakultet političkih nauka Univerziteta u Beogradu, Beograd, Srbija, 2009.
    • Slaviša Orlović „Interesne grupe“, Godišnjak Fakulteta političkih nauka, Univerzitet u Beogradu, Beograd, jun 2017.
    • Slučaj C-264/14, Skatteverket против David Hedqvist, ECLI:EU:C:2015:718, http://curia.europa.eu/juris/celex.jsf.
    • The Law Library of Congress research team “Regulation of Cryptocurrency Around the World“, The Law Library of Congress, Global Legal Research Center, USA, 2018.
    • The Law Library of Congress research team “Regulation of Cryptocurrency Around the World“, The Law Library of Congress, Global Legal Research Center, USA, 2018.
    • Thomas Clive „Understanding and Comparing Interest Groups in Western Democracies“, in: Clive S. Thomas (ed.), First World Interest Groups, A Comparative Perspective, Greenwood Press, Westport, London, 1993.
    • Tom Keatinge, et al. „Virtual currencies and terrorist financing: assessing the risks and evaluating responses”, study commissioned by the Directorate General for Internal Policies, Policy Department for Citizens’ Rights and Constitutional Affairs, 2018.
    • Yessi Bello Perez „8 Banking Giants Embracing Bitcoin and Blockchain Tech“, Coindesk, https://www.coindesk.com/8-banking-giants-bitcoin-blockchain/ 2015.
PERIODIKA Politička revija 4/2019 4/2019 УДК 336.745 223-249
ç