| Budget Amount *help |
¥3,380,000 (Direct Cost: ¥2,600,000、Indirect Cost: ¥780,000)
Fiscal Year 2017: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2016: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Outline of Final Research Achievements |
This study focused on pricing mechanism of cryptocurrency (virtual currency) in order to deliver economic analysis of cryptocurrency. The result tells that the value of cryptocurrency is generated by the demand for blockchain, which is the basic technology of cryptocurrency, and accelerated by speculative activities attracted by the expected future demand.
Clarifying the theoretical framework of price formation of cryptocurrency will enable us to apply economics for analyzing cryptocurrency ecosystem. For example, rating cryptocurrency based on the theory will be useful for the public that needs evaluations of each cryptocurrency.
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