CREDIT: Cryptocurrency Effects in Digital Transformations
Funder: EPSRC (EP/N015525/1)
Imperial Contact: firstname.lastname@example.org
Other Partners: Surrey University
Distributed Ledger technologies hold significantly more potential than just money payment systems – potentially major benefit can emerge from the ability to create a decentralised record of almost anything including digital contracts, and ownership of assets such as cars, houses, bonds etc. (Ali et al., 2014). This raises considerations around the nature of trust and money itself, and the use of cryptography prompts issues on privacy and identity. There are also arguments that the use of a national currency system, underwritten by the state, provides a means of avoiding the need for both parties to a transaction to trust or know each other personally.
CREDIT aims to understand the technical and economic issues associated with distributed ledger technologies in industries other than financial services. Within the project, Imperial College London is responsible for developing scalable technical solutions founded on sound economic analysis.