TY - JOUR T1 - What Do Cryptocurrencies Do? JF - The Journal of Investing SP - 57 LP - 61 DO - 10.3905/joi.2019.28.3.057 VL - 28 IS - 3 AU - Erin Denison AU - Michael Lee AU - Antoine Martin Y1 - 2019/03/31 UR - https://pm-research.com/content/28/3/57.abstract N2 - Cryptocurrencies, like Bitcoin, are designed to facilitate payments even when there is a lack of trust. In this article, the authors discuss the features that are necessary for cryptocurrencies to play this role. They conclude that the specific features required to allow cryptocurrencies to facilitate payments when there is a lack of trust make these currencies less convenient as a payment mechanism than alternatives that rely on trust. The authors conclude that as long as sufficient trust exist in payment intermediaries, cryptocurrencies are likely too inconvenient to be widely adopted.TOPICS: Currency, portfolio construction, wealth management ER -