EAN: 9781349935055

PALGRAVE ADVANCES IN THE ECONOMICS OF INNOVATIO...

This book presents detailed case studies of the first commercial internet digital currency
systems developed between 1996 and 2004. Transactions completed with the new technology
circumvented all US financial regulations  an opening that transnational criminals exploited.
Mullan explains how an entire industry of companies  agents  and participants turned a blind
eye to crimes being committed in this unsupervised environment. He then tracks the subsequent
changes made to US regulations that now prevent such unlicensed activity  illustrating the
importance of supervising products and industries that arise from new disruptive technology.
This book distills hundreds of hours of interviews with the creators and operators of early
digital currency businesses to create detailed case studies of their practices.

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