相關主題
商品描述
After nearly two decades, blockchain technology and its native implementation, represented by cryptocurrencies, have gone through substantial development, and their role in financial markets has grown considerably. Evolving from their original objective as a medium of exchange to encompass more sophisticated functionality, an important question emerges: Do cryptocurrencies represent a new investable asset class? This book seeks to explore how cryptocurrencies operate, the underlying blockchain technology, and the heterogeneous functionalities they exhibit today, providing investors with a general overview of this emerging investment opportunity. Moreover, the book offers a systematic review of the academic literature on the role of cryptocurrencies as financial assets, followed by an empirical analysis examining the risk-return characteristics of digital assets and their contribution in terms of diversification to traditional investment portfolios.
商品描述(中文翻譯)
在近二十年後，區塊鏈技術及其原生實現，特別是以加密貨幣為代表，經歷了重大的發展，其在金融市場中的角色也顯著增長。從最初作為交換媒介的目標演變為更複雜的功能，一個重要的問題浮現：加密貨幣是否代表了一種新的可投資資產類別？本書旨在探討加密貨幣的運作方式、底層的區塊鏈技術，以及它們今天所展現的多樣化功能，為投資者提供這一新興投資機會的概覽。此外，本書還系統性地回顧了學術文獻中關於加密貨幣作為金融資產的角色，並進行實證分析，檢視數位資產的風險回報特徵及其對傳統投資組合的多樣化貢獻。
作者簡介
Davide Sandretto works as researcher at the University of Turin (Italy). His research focuses on digital finance and financial markets.
作者簡介(中文翻譯)
Davide Sandretto 在意大利都靈大學擔任研究員。他的研究專注於數位金融和金融市場。
