Tokens and ICOs: A review of the Economic Literature

Tokens and ICOs: A review of the Economic Literature, with Andrea Canidio, Vincent Danos and Stefania Marcassa, This article is a part of Principles of Blockchain Systems, Synthesis Lectures on Computer Science, 2021, Vol. 9, No. 2 About the book This book is the first to present the state of...

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Fundamental Pricing of Utility Tokens

We propose a framework for the fundamental valuation of utility tokens. Our model endogenizes the velocity of circulation of tokens and yields a pricing formula that is fully microfounded. According to our model, tokens are valuable because they have to be immediately accessible when the services are needed, a requirement...

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2-Step Multi-Client Quadratic Functional Encryption from Decentralized Function-Hiding Inner-Product

In this paper, we present a multi-client quadratic functional encryption (MCQFE) scheme from function-hiding inner-product (FHIP). The main challenge in such construction is that all the clients require the access to the master secret key of the underlying FHIP scheme, which clearly breaches the security. To overcome this challenge, we...

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Multi-Client Inner-Product Functional Encryption in the Random-Oracle Model

Multi-client functional encryption (MCFE) is an extension of functional encryption (FE) in which the decryption procedure involves ciphertexts from multiple parties. In this paper, we consider MCFE schemes supporting encryption labels, which allow the encryptor to limit the amount of possible mix-and-match that can take place during the decryption. This...

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Efficient Lattice-Based Inner-Product Functional Encryption

In the recent years, many research lines on Functional Encryption (FE) have been suggested and studied regarding the functionality, security, or efficiency. These studies include quadratic FE, multi-client FE, function-hiding FE, dynamic FE and much more. Nevertheless, an open problem on a basic functionality, the single-input inner-product (IPFE), remains: can...

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Helicopter Money and CBDCs: Are DLTs the perfect infrastructure for monetary policies in a time of crisis?

The nascent economic crisis is highlighting the need to rely on creative policy responses. Helicopter money appears to be one of the few untried monetary tool. Central Bank Digital Currencies (CBDCs) based on Distributed Ledger Technologies (DLTs) would provide the optimal infrastructure to implement such stimulus policy.

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