Tokenized index funds: A blockchain-based concept and a multidisciplinary research framework

【Author】 Ciriello, Raffaele Fabio

【Source】INTERNATIONAL JOURNAL OF INFORMATION MANAGEMENT

【影响因子】18.958

【Abstract】In response to the bleak prospects of today's financial markets, a wave of financial and technological innovations emerges, bringing about potential benefits but also new challenges. For instance, tokenized securities are a new kind of blockchain-based asset enabling price stability, programmability, pseudonymity, and transaction efficiency, while also introducing new regulatory challenges and uncertainties. Conversely, index funds are an established investment device enabling broad diversification in a cost-effective, tax-efficient, and transparent way, while potentially also contributing to concentration of market power, intermediation cost, access barriers for underbanked or impoverished investors, increased market volatility, and human behavioral challenges. This paper conceptually develops Tokenized Index Funds as a hybrid approach that combines the benefits of tokenized securities and index funds while alleviating some of their drawbacks. Based thereupon, a corresponding multidisciplinary research framework is presented, with sample research questions along the activities of design and features, business and economics, management and organization, and law and regulation.

【Keywords】Blockchain; Index funds; Tokenized securities; Stablecoins; Finance; Investing

【发表时间】2021 DEC

【收录时间】2022-01-01

【文献类型】理论模型

【主题类别】

区块链治理-技术治理-交易模式识别