Technology in Financial Markets: Complex Change and Disruption

Technology has emerged as a disruptive force in the economy and finance, leading to the establishment of new economic and financial paradigms. This book proposes a novel theoretical approach to disruption, focusing on blockchain technology and its implementations in finance. It identifies the intrinsic interconnections characterizing the multidimensional technology-driven transformations, involving commercial practices, capital markets, corporate governance, central banking, and financial networks. It adopts a unique comparative approach and explains and clarifies the factual and historical dimensions underlying the emergence of the crypto-economy. Blockchain is used as a case study to illustrate how each subpart of the financial system evolves on an individual basis, bringing systemic transformations and leading to the creation of new economic and financial paradigms.

Format: Hardback
Length: 440 pages
Publication date: 06 July 2023
Publisher: Oxford University Press

In recent years, technology has emerged as a transformative force in the economy and finance, leading to the establishment of new economic and financial paradigms. Focusing on blockchain technology and its implementations in finance, Technology in Financial Markets proposes a novel theoretical approach to disruption. Relying on complexity science, it develops a dynamic perspective on the study of disruptive phenomena and their relationship to financial regulation and the law. It identifies the intrinsic interconnections characterizing the multidimensional technology-driven transformations, involving commercial practices, capital markets, corporate governance, central banking, and financial networks. From this perspective, it considers the way they are reflected at the level of contract law, financial law, corporate law, central banking law. The book adopts a unique comparative approach and explains and clarifies the factual and historical dimensions underlying the emergence of the crypto-economy. In this book, blockchain is used as a case study. Blockchain exemplifies the way each subpart of the financial system - commercial practices, financial markets, corporations, central banking, networks - and consequently each subcategory of financial regulation evolves on an individual basis. It shows how such subparts evolve altogether, bringing systemic transformations, and ultimately leading to the creation of new economic and financial paradigms. The book considers both these perspectives, analyzing the evolution of each subpart and emphasizing the interconnected transformations. In doing this, it adopts the structure of an ascending climax, starting from contracts and escalating to increasingly broad dimensions, particularly capital markets, corporate governance, central banking, and finance.

In recent years, technology has emerged as a transformative force in the economy and finance, leading to the establishment of new economic and financial paradigms. Focusing on blockchain technology and its implementations in finance, Technology in Financial Markets proposes a novel theoretical approach to disruption. Relying on complexity science, it develops a dynamic perspective on the study of disruptive phenomena and their relationship to financial regulation and the law. It identifies the intrinsic interconnections characterizing the multidimensional technology-driven transformations, involving commercial practices, capital markets, corporate governance, central banking, and financial networks. From this perspective, it considers the way they are reflected at the level of contract law, financial law, corporate law, central banking law. The book adopts a unique comparative approach and explains and clarifies the factual and historical dimensions underlying the emergence of the crypto-economy. In this book, blockchain is used as a case study. Blockchain exemplifies the way each subpart of the financial system - commercial practices, financial markets, corporations, central banking, networks - and consequently each subcategory of financial regulation evolves on an individual basis. It shows how such subparts evolve altogether, bringing systemic transformations, and ultimately leading to the creation of new economic and financial paradigms. The book considers both these perspectives, analyzing the evolution of each subpart and emphasizing the interconnected transformations. In doing this, it adopts the structure of an ascending climax, starting from contracts and escalating to increasingly broad dimensions, particularly capital markets, corporate governance, central banking, and finance.

Dimension: 234 x 156 (mm)
ISBN-13: 9780198873617