Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
May 2018
Office of the Chief Economist
Europe and Central Asia Economic Update
,
,WORLD BANK ECA ECONOMIC UPDATE MAY 2018
Cryptocurrencies
and Blockchain
Office of the Chief Economist
, © 2018 International Bank for Reconstruction and Development / The World Bank
1818 H Street NW, Washington, DC 20433
Telephone: 202-473-1000; Internet: www.worldbank.org
Some rights reserved
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This work is a product of the staff of The World Bank with external contributions. The findings,
interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World
Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not
guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and
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Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and
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Attribution—Please cite the work as follows: World Bank. 2018. “Cryptocurrencies and Blockchain.”
Europe and Central Asia Economic Update (May), Washington, DC: World Bank. Doi: 10.1596/978-1-
4648-1299-6. License: Creative Commons Attribution CC BY 3.0 IGO
Translations—If you create a translation of this work, please add the following disclaimer along with the
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ISBN (electronic): 978-1-4648-1299-6
DOI: 10.1596/978-1-4648-1299-6
Cover design: World Bank
May 2018
Office of the Chief Economist
Europe and Central Asia Economic Update
,
,WORLD BANK ECA ECONOMIC UPDATE MAY 2018
Cryptocurrencies
and Blockchain
Office of the Chief Economist
, © 2018 International Bank for Reconstruction and Development / The World Bank
1818 H Street NW, Washington, DC 20433
Telephone: 202-473-1000; Internet: www.worldbank.org
Some rights reserved
1 2 3 4 21 20 19 18
This work is a product of the staff of The World Bank with external contributions. The findings,
interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World
Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not
guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and
other information shown on any map in this work do not imply any judgment on the part of The World
Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries.
Nothing herein shall constitute or be considered to be a limitation upon or waiver of the privileges and
immunities of The World Bank, all of which are specifically reserved.
Rights and Permissions
This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)
http://creativecommons.org/licenses/by/3.0/igo. Under the Creative Commons Attribution license,
you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes,
under the following conditions:
Attribution—Please cite the work as follows: World Bank. 2018. “Cryptocurrencies and Blockchain.”
Europe and Central Asia Economic Update (May), Washington, DC: World Bank. Doi: 10.1596/978-1-
4648-1299-6. License: Creative Commons Attribution CC BY 3.0 IGO
Translations—If you create a translation of this work, please add the following disclaimer along with the
attribution: This translation was not created by The World Bank and should not be considered an official
World Bank translation. The World Bank shall not be liable for any content or error in this translation.
Adaptations—If you create an adaptation of this work, please add the following disclaimer along
with the attribution: This is an adaptation of an original work by The World Bank. Views and opinions
expressed in the adaptation are the sole responsibility of the author or authors of the adaptation and are
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Third-party content—The World Bank does not necessarily own each component of the content
contained within the work. The World Bank therefore does not warrant that the use of any third-party-
owned individual component or part contained in the work will not infringe on the rights of those third
parties. The risk of claims resulting from such infringement rests solely with you. If you wish to re-use
a component of the work, it is your responsibility to determine whether permission is needed for that
re-use and to obtain permission from the copyright owner. Examples of components can include, but
are not limited to, tables, figures, or images.
All queries on rights and licenses should be addressed to World Bank Publications, The World Bank
Group, 1818 H Street NW, Washington, DC 20433, USA; e-mail: .
ISBN (electronic): 978-1-4648-1299-6
DOI: 10.1596/978-1-4648-1299-6
Cover design: World Bank
