Bitcoin: Challenging the

fiat money

system or

catalyzing

economic

development?

October 25, 2013

Stockholm School of Economics

2023-04-12 │ 2

14.30-14.45 Welcome and Introduction to Bitcoin

Dr. Robin Teigland Associate Professor, SSE

14.45-15.15 The Appeal of a Nonpolitical Monetary Unit

Jon Matonis,

Executive Director & Board Member, Bitcoin Foundation

15.15-15.45 Case Study: Kipochi and Implications of Bitcoin for Developing Countries

Pelle Braendgaard Founder, Kipochi

15.50-16.20 Future of and Alternative to Bitcoin

Michael Grönager Chief Operating Officer, Payward Inc.

16.20-16.30 Concluding Remarks

Moderator: Dr. Robin Teigland

Program

2023-04-12 │ 3

Finance + ICT

2023-04-12 │ 4

2023-04-12 │ 5

2023-04-12 │ 6

vs

Opportunity? Threat?

2023-04-12 │ 7

Exploring Collective Emergent Institutional Entrepreneurship through Bitcoin

• Open source project posted on SourceForge in Jan 2009

• By “Satoshi Nakamoto” – but who is Satoshi?• Developed by community of strangers across globe• Legitimate currency with >USD 2 bln in circulation <5 short years:

Challenging the fiat money system?

Our Research

Teigland, Yetis, Larsson 2013 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2263707

2023-04-12 │ 8

Institutions

Emergent Collective vs

E.g., Central Bank~ Long-standing financial

institutions and regulations

E.g., Bitcoin Community ~ Emergent collective of users across globe connected through internet

Teigland, Yetis, Larsson 2013

2023-04-12 │ 9

Nov 2009 to Jan 2013

Bitcoin Online Forums

Social network analysis & Semantic network analysis• Bitcoin Forum (English)

• 1.15 mln posts by 21,903 people• 85% all posts / 89% all people

• Secondary data• SNS, blogs, websites, etc.

2023-04-12 │ 10Info

rmal org

an

izati

on

10 Most Active in Forum

5 Bitcoin entrepreneurs5 anonymous

Forum Topics over Time

TechnicalExchanges

Legal

2023-04-12 │ 11

2023-04-12 │ 12

14.30-14.45 Welcome and Introduction to Bitcoin

Dr. Robin Teigland Associate Professor, SSE

14.45-15.15 The Appeal of a Nonpolitical Monetary Unit

Jon Matonis,

Executive Director &Board Member, Bitcoin Foundation

15.15-15.45 Case Study: Kipochi and Implications of Bitcoin for Developing Countries

Pelle Braendgaard Founder, Kipochi

15.50-16.20 Future of and Alternative to Bitcoin

Michael Grönager Chief Operating Officer, Payward Inc.

16.20-16.30 Concluding Remarks

Moderator: Dr. Robin Teigland

Program