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Demelza Hays

Demelza Hays has been conducting research in the field of crypto-related assets since 2013. In addition to teaching a course on cryptocurrency at the University of Liechtenstein, Ms. Hays regularly presents and writes on the topic of cryptocurrencies. Her work has been published in several distinguished print and online magazines including Forbes, Der Standard, and the Frankfurter Allgemeine Zeitung.

Smart Contracts

“A smart contract is a computer program that directly controls some kind of digital asset… The smart contract approach says instead of a legal contract, immediately transfer the digital asset into a program, the program automatically will run code, validate a condition, and determine whether the asset should go to one person or back to…

ETH, NEO, ADA, & EOS

“2019’s Trillion Dollar Question: How to merge Blockchains? Yanislav Malahov, Aeternity Smart Contract Platforms: Who’s the Smartest in Town? Grandmother Bitcoin has birthed powerful ecosystems – first and foremost, the Ethereum empire. From July to August in 2014, the Ethereum Foundation launched an Initial Coin Offering to promote its concept to Bitcoin owners. As we…

Legal Aspects and Regulatory Issues of Cryptocurrencies – EU Perspective

In a presentation at the Federal Reserve Bank of Cleveland, Demelza Hays talked about the legal aspects and regulatory issues of cryptocurrencies in Europe. Read the complete presentation here: Download Presentation

Consensus Mechanisms

In cryptography, there is a theory that states that anything that can be done with a central party, can also be done without a central party. This refers to voting, auctions, banking, etc. For example, OpenBazaar is a decentralized version of eBay, Bisq is a decentralized version of Coinbase, and Bitcoin itself is a decentralized…

Blockchain 3.0 The Future of DLT?

“I do think Bitcoin is the first encrypted money that has the potential to do something like change the world.” Peter Thiel The Bitcoin blockchain is generally regarded as the original blockchain, since it is the first implementation of a new technology that is commonly described today as distributed ledger technology (DLT). The birth of…

Competing Currencies and Digital Money: How Hayekian Are Cryptocurrencies?

The Government Monopoly on Money – For a Long Time Unquestioned “I do not think that it is an exaggeration to say that history is largely a history of inflation, and usually of inflations engineered by governments and for the gain of governments.” Friedrich August von Hayek It is a truism that monopolies are detrimental…

War Within Bitcoin

“… Bitcoin is an excellent idea. It fulfills the needs of the complex system, not because it is a cryptocurrency, but precisely because it has no owner, no authority that can decide on its fate. It is owned by the crowd, its users. And it has now a track record of several years, enough for…

Forks

“A ‘hard fork’ occurs when a new rule is introduced, one that is no longer compatible with old software. If you do not join the upgraded version of the blockchain, you do not get access to the new system’s user base and transactional traffic. Think PlayStation 3 and PlayStation 4: In a hard fork, you…

Incrementum Insights: How Will Cryptocurrencies Change Finance?

“Virtual currencies mark a paradigm shift in how we think about payments, traditional financial processes, and engaging in economic activity. Ignoring these developments will not make them go away, nor is it a responsible regulatory response. The evolution of these assets, their volatility, and the interest they attract from a rising global millennial population demand…

10 Facts About Max Tertinegg, the CEO of Coinfinity

“The open-source nature of public blockchain protocols, combined with intrinsic mechanisms to break down monopoly effects, mean that the vast majority of this economic surplus will accrue to users. While tens or perhaps hundreds of billions of dollars of value will also likely accrue to the cryptoassets underlying these protocols and therefore to investors in…

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