CCAF’s impact


The Cambridge Centre for Alternative Finance specialises in researching new and innovative financial channels, instruments and systems such as crowdfunding, peer-to-peer lending, cryptoasset, blockchain and regtech.

On an annual basis, the Centre’s interdisciplinary research team collaborates with more than 200 researchers and 300 ecosystem partners to survey 3,500+ FinTech firms and platforms in over 185 countries.

Since its founding in January, 2015, the Cambridge Center for Alternative Finance has published more than 30 high-profile and high-impact industry and policy reports to date, informing industry development, academic debate and evidence-based regulation and policymaking globally.

The Cambridge Centre for Alternative Finance will continue engaging with national governments, supranational institutions, multilateral organisations to inform evidence-based policymaking and regulations.

CCAF’s research output has been cited, referenced and utilised widely by academic researchers around the world as well as global regulator and policymaker communities. Selected citations are listed on the pages below.


The CCAF’s research, data and findings have been widely cited by government, policy and regulatory bodies and international organisations. It has undertaken an array of commissioned work for regulators and policymakers including the following:

Commissioned by the UNSGSA and the Monetary Authority of Singapore to produce a report on Early Lessons on Regulatory Innovation to Enable Inclusive FinTech (2019)

Commissioned by the World Bank to create a Global Alternative Finance Market Volume Data Portal and conduct the Global Alternative Finance Regulator Survey (2018)

Commissioned by the World Bank to produce a report on innovative financing channels and instruments for off-grid solar power (2018)

Commissioned by FSD Uganda to produce a report FinTech in Uganda: Implications for Regulations in partnership with MicroSave.

Commissioned by the UK Foreign and Commonwealth Office (FCO) to produce a white paper on Guide to Promoting Financial & Regulatory Innovation (2018)

Commissioned by FSD Africa to organise a conference for African regulators on Regulatory Innovation in the Age of FinTech.

Commissioned by the Financial Conduct Authority (FCA) to conduct collaborative research and provide evidence for the review crowdfunding and P2P lending regulation in the UK (2017)

Partnering with the Inter-American Development Bank to review alternative finance market activity in Latin America (2017)

Partnering with the Otoritas Jasa Keuangan (OJK), the financial regulator of Indonesia to review the national alternative finance industry and to publish a Bahasa Indonesia language version of the report for the local market (2017)

Conducting a review of crowdfunding regulation in Kenya, Uganda, Rwanda and Tanzania engaging the Central Banks, Capital Market Authorities and Communications Authorities in the region (2016-2017)

Expert Advisor for the UK Department for International Development & Energy4Impact CrowdPower Programme to support crowdfunding for renewable energy across Africa (2016-2017)

Expert Advisor for the Monetary Authority of Singapore via the Singapore FinTech Expert Panel (2016-2017)

Academic Consultants to the UK Department for Energy & Climate Change to assess potential for crowdfunding for Smart Systems & Heating (2015-2016)

Expert Academic Advisor to the European Commission’s Crowdfunding Stakeholder Forum (2015-2016)

Academic Consultants to the Department for Business, Innovation & Skills and the British Business Bank for the UK alternative finance market (2014)

Academic impact and citations

Academic impact and citations from CCAF’s research.

Munoz, J.M., Frenkel, M. (2021) The Economics of Cryptocurrencies Routledge

Casanovas, P., Wishart, D., Chen, J. (2021) Editorial: The Digital World We Will Live By Law in Context

Inozemtsev, M.I. (2021) Engineering Economics: Decisions and Solutions from Eurasian Perspective Springer

Zameni, A., Alam, N. (2021) Fintech, Digital Currency and the Future of Islamic Finance Palgrave Macmillan

Ziegler, T., Shneor, R., Zhang, B. (2020) The Global Status of the Crowdfunding Industry from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Zhao, L., Shneor, R. (2020) Donation Crowdfunding: Principles and Donor Behaviour from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Zhao, L., Li, Y. (2020) Crowdfunding in China: Turmoil of Global Leadership from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Cai, W., Polzin, F., Stam, E. (2020) Legal Institutions, Social Capital, and Financial Crowdfunding: A Multilevel Perspective from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Kallio, A., Vuola, L. (2020) History of Crowdfunding in the Context of Ever-Changing Modern Financial Markets from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Zhao, L., Ryu, S. (2020) Reward-Based Crowdfunding Research and Practice from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Lukkarinen, A. (2020) Equity Crowdfunding: Principles and Investor Behaviour from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Shneor, R., Torjesen, S. (2020) Ethical Considerations in Crowdfunding from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Chao, E.J., Serwaah, P., Baah-Peprah, P., Shneor, R. (2020) Crowdfunding in Africa: Opportunities and Challenges from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Wenzlaff, K., Odorović, A., Ziegler, T., Shneor, R. (2020) Crowdfunding in Europe: Between Fragmentation and Harmonization from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Shneor, R. (2020) Crowdfunding Models, Strategies, and Choices Between Them from Advances in Crowdfunding; Research and Practice Palgrave Macmillan

Hamledari, H., Fischer, M. (2020) The Application of Blockchain-Based Crypto Assets for Integrating the Physical and Financial Supply Chains in the Construction & Engineering Industry

Carletti, E., Claessens, S., Fatás, A., Vives, X. (2020) The Bank Business Model in the Post-Covid-19 World Centre for Economic Policy Research

Hasan, I., Kwak, B., Li, X. (2020) Financial Technologies and the Effectiveness of Monetary Policy Transmission IWH

Beck, T. (2020) Fintech and Financial Inclusion: Opportunities and Pitfalls

Gambacorta, L., Huang, Y., Li, Z., Qiu, H., Chen, S. (2020) Data vs Collateral BIS

Spoz, A., Niedzielski, P., Henhappel, S. (2020) Finance and Sustainable Development: Designing Sustainable Financial Systems Routledge

Vaznyte, E., Andries, P., Manigart, S. (2020) Are you part of the crowd? The role of sex and environmental characteristics for crowdfunding awareness Taylor & Francis

Wennker, P. (2020) Künstliche Intelligenz im Bereich Finanzen Springer

van den Berg, M., Kuiper, O. (2020) XAI in the Financial Sector Hogeschool Utrecht

Shen, H., Kurshan, E. (2020) Deep Q-Network-based Adaptive Alert Threshold Selection Policy for Payment Fraud Systems in Retail Banking

Cao, L. (2020) AI in FinTech: A Research Agenda

Munim, Z.H., Shneor, R., Adewumi, O.A., Shakil, M.H. (2020) Determinants of crowdfunding intention in a developing economy: ex-ante evidence from Bangladesh International Journal of Emerging Markets

Potts, J., Davidson, S., Berg, C. (2020) Blockchain Innovation and Public Policy Journal of Entrepreneurship and Public Policy

Valpītere, M. (2020) “Right to erasure” and private blockchain in the European Union: legal requirements and technical possibilities Latvijas Universitate

Strehle, E. (2020) Public Versus Private Blockchains Blockchain Research Lab

Allen, D.W.E., Berg, C., Davidson, S. (2020) The New Technologies of Freedom American Institute for Economic Research

Lee, K. (2020) Large versus Small Nominal value Cryptocurrencies : The Impact of the Nominal Value based Product Valuation in Cryptocurrency on Consumer’s Willingness to Spend S-Space

McCurdy, D. (2020) The Role of Collaborative Governance in Blockchain Enabled Supply Chains: A Proposed Framework

Strehle, E. (2020) Blockchain for Supply Chain: From Promise to Practice Blockchain Research Lab

Berg, C., Davidson, S., Potts, J. (2020) Commitment Voting: A Mechanism for Intensity of Preference Revelation and Long-Term Commitment in Blockchain Governance RMIT Blockchain Innovation Hub

Kostić, N., Sedej, T. (2020) Blockchain Technology, Inter-Organizational Relationships and Management Accounting: A Synthesis and Research Agenda Copenhagen Business School

Malešević, S., Lustenberger, M., Spychiger, F. (2020) Applying Distributed Ledger Concepts to a Swiss Regional Label Ecosystem MDPI

Pimentel, E., Boulianne, E. (2020) Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities Wiley

Wójcik, D. (2020) Financial geography II: The impacts of FinTech – Financial sector and centres, regulation and stability, inclusion and governance Sage Journals

Aarvik, P. (2020) Blockchain as an anti-corruption tool: Case examples and introduction to the technology Chr. Michelsen Inst.

Ba, S., Chen, Z., Zhu, Y. (2020) Application and Practice of Supervision Technology in the Field of Data Management China Financial Forum

Cornelli, G., Doerr, S., Gambacorta, L., Merrouche, O. (2020) Inside the regulatory sandbox: effects on fintech funding BIS

Campino, J., Brochado, A., Rosa, A. (2020) Dynamic Strategic Thinking for Improved Competitiveness and Performance: Digital Business Transformation in the Banking Sector IGI Global

Lambert, T., Liebau, D., Roosenboom, P. (2020) Security Token Offerings SSRN

Cong, L.W., Li, X., Tang, K., Yang, Y. (2020) Crypto Wash Trading SSRN

Ankenbrand, T., Bieri, D., Cortivo, R., Hoehener, J., Hardjono, T. (2020) Proposal for a Comprehensive (Crypto) Asset Taxonomy

Novak, M. (2020) Encyclopedia of Law and Economics Springer

Fernandez-Herraiz, C., Esclapes-Membrives, S., Prado-Dominguez, A.J. (2020) Emerging Tools and Strategies for Financial Management IGI Global

Alekseenko, A. (2020) Cryptocurrency as a Digital Representation of Value: The Singapore Experience Actual Problems of the Russian Law Journal

Liebi, L. (2020) Is There a Value Premium in Cryptoasset Markets? Duke University School of Law

Lucas, M.D. (2020) Deciphering the European Financial Regulatory Framework of Cryptoassets SSRN

Burns, M., Kenett, D.Y., Sokobin, J.S. (2020) In the Eye of the Beholder: Regulatory Versus Industry Risk Perception Henry Stewart Publications

Lee, J. (2020) Law and Regulation for a Crypto-Market: Perpetuation or Innovation? Routledge

Zhang, J. (2020) Do Cryptocurrency Markets React to Issuer Sentiments? Evidence from Twitter SSRN

Ni, X. (2020) A Machine Learning Based Regulatory Risk Index for Cryptocurrencies

Quintanero López, J., Santos Sanz, R., Fernández Bedoya, A., Moreno Blasco, M.A. (2020) Fintech: panorama y retos en la obtención de información Banco de España

Pettazzoni, R. (2020) Equity crowdfunding: an analysis of Italian start-ups case-studies UNIVERSITA’ DEGLI STUDI DI PADOVA

Martín, P., Manuel, J. (2020) Plataformas de financiación participativa y su potencial de crecimiento en España

Amrein, S., Dietrich, A. (2020) Crowdfunding und Fundraising Springer

Borisova, O.V. (2020) Factors of Successful Collection of Funds For Crowdfunding Project

Martínez-Climent, C., Guijarro-García, M., Carrilero-Castillo, A. (2020) The motivations of crowdlending investors in Spain Emerald Insight

Bergmann, A., Burton, B., Klaes, M. (2020) European perceptions on crowdfunding for renewables: Positivity and pragmatism

Shneor, R., Vik, A.A. (2020) Crowdfunding success: a systematic literature review 2010–2017 Emerald Insight

Rykkja, A., Munim, Z.H., Boney, L. (2020) Varieties of cultural crowdfunding: The relationship between cultural production types and platform choice Emerald Insight

Mitręga-Niestrój, K., Klimontowicz, M. (2020) Equity Crowdfunding as a Socio-Technological Innovation Supporting Entrepreneurship ECIE

Maula, M.V.J., Lukkarinen, A. (2020) Attention Across Borders: Investor Attention as a Driver of Cross-Border Equity Crowdfunding Investments SSRN

Adena, M., Huck, S. (2020) Voluntary “donations” versus reward-oriented “contributions”: Two experiments on framing in funding mechanisms Econstor

Sanchís-Pedregosa, C., Berenguer, E., Albort-Morant, G., Sanz, J.A. (2020) Guaranteed Crowdlending Loans: A Tool for Entrepreneurial Finance Ecosystem Sustainability EDITURA ASE

Karpouzis, E., Daskalakis, N., Psillaki, M., Staikouras, C. (2020) Peer-to-Peer Lenders’ Motivations and Risk Perceptions in Cross-Border Investments in Europe EBSCO

Ciechan-Kujawa, M., Górnowicz, J. (2020) Success determinants of sports projects financed with donation crowdfunding

Odorović, A., Wenzlaff, K. (2020) The joint production of confidence – self-regulation in European crowdfunding markets Emerald Insight

Hudcová, T. (2020) Does Language Drive the Crowd? Case of Czech Reward-Based Crowdfunding

Shneor, R., Maehle, N. (2020) Editorial: Advancing crowdfunding research: new insights and future research agenda Baltic Journal of Management

Zhao, Y., Harris, P., Lam, W. (2020) The Palgrave Encyclopedia of Interest Groups, Lobbying and Public Affairs – Crowdfunding Springer

Leonelli, S., Di Pietro, F., Masciarelli, F. (2020) Narcissism, Machiavellianism and Psychopathy: How Do Displayed Entrepreneurs’ Personality Dark Traits Influence Crowdfunding Success? Emerald Insight

Di Pietro, F. (2020) Crowdfunding for Entrepreneurs: Developing Strategic Advantage Through Entrepreneurial Finance Routledge

Astebro, T.B., Fernández Silva, M., Lovo, S., Vulkan, N. (2020) Herding in Equity Crowdfunding HEC Research Papers

Carballo, I.E. (2020) Fintech: desafío para la regulación y la educación financiera Pontificia Universidad Católica Argentina

Appaya, S., Gradstein, H.L. (2020) How Regulators Respond to Fintech Evaluating the Different Approaches—Sandboxes and Beyond World Bank – Finance, Competitiveness & Innovation Global Practice

Kavuri, A.S., Milne, A.K.L. (2020) Evolution or Revolution? Distributed Ledger Technologies in Financial Services CAMA Working Paper No. 4/2020

Østbye, P. (2020) Who is Liable for Cryptocurrency Consensus Mechanism (Mis)Representations? Norge Bank

Chahed, Y. (2020) Words and Numbers: Financialization and Accounting Standard Setting in the UK Contemporary Accounting Research

Pagnotta, E. (2020) Decentralizing Money: Bitcoin Prices and Blockchain Security Review of Financial Studies

Benetton, M., Compiani, G. (2020) Investors’ Beliefs and Asset Prices: A Structural Model of Cryptocurrency Demand Becker Friedman Institute for Economics Working Paper No. 2020-107

Gong, J., Krishnan, J., Liang, Y. (2020) Securities-Based Crowdfunding by Startups: Does Auditor Attestation Matter? SSRN

Schena, C., Tanda, A., Arlotta, C., Potenza, G., Giuseppe, D., Munafò, P. (2020) The Development of FinTech. Opportunities and Risks for the Financial Industry in the Digital Age – With Preface to the FinTech Series CONSOB Fintech Series No. 1

Breidbach, C. (2020) Fintech: Research Directions to Explore the Digital Transformation of Financial Service Systems Journal of Service Theory and Practice, 30(1), 79-102, 2020

Juma, H., Shaalan, K., Kamel, I. (2019) A Survey on Using Blockchain in Trade Supply Chain Solutions IEEE

Østbye, P. (2019) Who is Liable if a Cryptocurrency Protocol Fails? SSRN

Allen, D.W.E., Berg, C., Markey-Towler, B., Novak, M., Potts, J. (2019) Blockchain and the Evolution of Institutional Technologies: Implications for Innovation Policy Elsevier

Østbye, P. (2019) Who is Liable for an Attack on Cryptocurrency Consensus?

Perlman, L. (2019) Regulation of the Financial Components of the Crypto-Economy Columbia SIPA

Rossi, E., Sørensen, C. (2019) Towards a Theory of Digital Network De/centralization: Platform-Infrastructure Lessons Drawn from Blockchain LSE

Cantalapiedra, M. (2019) Crowdlending: Análisis del caso español

Skotte, R.F., Juvik, H.S.A. (2019) Localization of Crowdfunding Platforms : The Influencing Role of Culture, Institutions and Geography University of Agder

Bukhari, F.A.S., Usman, S.M., Usman, M., Hussain, K. (2019) The effects of creator credibility and backer endorsement in donation crowdfunding campaigns success Emerald Insight

Navarová, T. (2019) Crowdfunding: What makes a project desirable?

Løken, M.H. (2019) Marketplace lending: An analysis of the opportunities for lenders and borrowers in the Scandinavian market NTNU Open

Kavuri, A.S., Milne, A.K.L., Wood, J.A. (2019) What is New about Cryptocurrencies? A Visual Analysis CAMA Working Paper 79/2019

Landoni, M., Pieters, G.C. (2019) Taxing Blockchain Forks SMU Cox School of Business Research Paper No.19-18

Saiedi, E., Broström, A., Ruiz Lopez, F. (2019) Global Drivers of Cryptocurrency Infrastructure Adoption Small Business Economics

Østbye, P. (2019) Who is Casually Responsible for a Cryptocurrency? Norges Bank

Omane-Adjepong, M., Alagidede, P. and Akosah, N. (2019) Wavelet time-scale persistence analysis of cryptocurrency market returns and volatility. Physica A: Statistical Mechanics and its Applications. Elsevier. vol. 514(C). 105-120.

Spillan, J.E., Ramsey, J.R. (2019) Navigating Commerce in Latin America: Options and Obstacles. Routledge.

Gibilaro, L. (2019) Trade Credit and Financing Instruments. New York. Business Expert Press.

De Rossi, L., Abbatemarco, N. and Salviotti, G. (2019) Towards a Comprehensive Blockchain Architecture Continuum. Hawaii. 52nd Hawaii International Conference on System Sciences.

O’Dair, M. and Owen, R. (2019) Financing new creative enterprise through blockchain technology: Opportunities and policy implications. Strategic Change, 28(1), 9-17.

Park, S. and Park, H. (2019) Diffusion of cryptocurrencies: web traffic and social network attributes as indicators of cryptocurrency performance. Springer. Quality & Quantity.

Demertzis, M., Merler, S. and Wolff, G. (2018) Capital Markets Union and the Fintech Opportunity. Journal of Financial Regulation, 4(1), 157-165

Yermack, D. (2018) Fintech in Sub-Saharan Africa: What Has Worked Well, and What Hasn’t NBER Working Paper No. w25007

Gendron, Y. (2018) Beyond conventional boundaries: Corporate governance as inspiration for Critical accounting research Critical Perspectives on Accounting, Elsevier, vol. 55(C)

Lissowska, M. (2018) Crowdfunding – the Interplay between Evolving Organization and Embedding Institutions. Accounting, Economics, and Law: A Convivium. p.5

Balboni, B., Gualandri, E., Kocollari, U., Pedrazzoli, A. and Venturelli, V. (2018) A Multidimensional Approach to Equity Crowdfunding: Bridging the Equity Gap and Boosting Social Capital. Palgrave Macmillan Studies in Banking and Financial Institutions, 389-407.

Firek, A.M., Warszawska, P. (2018) Real Estate Crowdfunding– Crowd as an alternative source for real estate financing .Rynek – Społeczeństwo – Kultura, Numer 3(24), 44-51.

Rubanov, P.  (2018) Use of crowdfunding to finance the investment needs of small and medium-sized. Ukraine. Development of Small and Medium Enterprises: The Eu And East-Partnership Countries Experience. 38-47

Havrylchyk, O., Verdier, M. (2018). The Financial Intermediation Role of the P2P Lending Platforms. Comparative Economic Studies, 60(1).

Kavuri, A. and Milne, A. (2018) Fintech and the Future of Financial Services: What are the Research Gaps?. SSRN Electronic Journal.

Kostal, K., Krupa, T., Gembec, M., Veres, I., Ries, M. and Kotuliak, I. (2018) On Transition between PoW and PoS. 2018 International Symposium ELMAR.

Burnie, A., Burnie, J. and Henderson, A. (2018) Developing a Cryptocurrency Assessment Framework: Function over Form. Ledger, 3.

Balleste, R., Hanlon, M. (2018) How blockchain technology can track humanity’s lunar heritage sites. The Space Review.

Jain, A., Tripathi, S., Dwivedi, H.D., Saxena, P. (2018) Forecasting Price of Cryptocurrencies using Tweets Sentiment Analysis. India. International Conference on Contemporary Computing (IC3).

Gjesvik, J.T., Hestmann, O. (2018) Facing the crowd – An assessment of credit quality in crowdlending platform portfolios. Norwegian School of Economics.

Havrylchyk, O. (2018) Regulatory framework for the loan-based crowdfunding platforms.  OECD Economics Department Working Papers. p.11,12,13,16-19.

Čermáková, J. (2018) Credit Risk of P2P Lending on the Czech Market. Czech Republic. Charles University.


Rijanto, A. (2018) Donation-based crowdfunding as corporate social responsibility activities and financing. Journal of General Management, 43(2), 79-88.

Lowies, B., Whait, R., Viljoen, C. and McGreal, S. (2018) Fractional ownership – an alternative residential property investment vehicle. Journal of Property Investment & Finance, 36(6), 513-522.

QI, Y. (2018) crowdfunding industry in China. Politecnico di Milano, Italy. p.8,10.

Nigam, N., Mbarek, S., Benetti, C.  (2018) Crowdfunding to finance eco-innovation: case studies from leading renewable energy platforms. Dans Journal of Innovation Economics & Management 2018/2(26). 195-219.

Masciandaro, D. (2018) Central Bank Digital Cash and Cryptocurrencies: Insights from a New Baumol-Friedman Demand for Money. Australian Economic Review, 51(4), 540-550.

Stratopoulos, T. (2018) Blockchain Technology Adoption. SSRN Electronic Journal.

Reinsberg, B. (2018) Blockchain technology and the governance of foreign aid. Journal of Institutional Economics, 1-17.

Ølnes, S. and Jansen, A. (2018) Blockchain technology as infrastructure in public sector. Proceedings of the 19th Annual International Conference on Digital Government Research Governance in the Data Age – dgo ’18.

Ito, K. and O’Dair, M. (2018) A Critical Examination of the Application of Blockchain Technology to Intellectual Property Management. Business Transformation through Blockchain, 317-335.

Vermeulen, E., Fenwick, M., Kaal, W. (2018) Why Blockchain will Disrupt Corporate Organizations – What Can be Learned from the Digital Transformation.The JBBA, 1(2), 91-100.

Yanik, S. and Kiliç, A. (2018) A Framework for the Performance Evaluation of an Energy Blockchain. Studies in Systems, Decision and Control, 521-543.

Walther, M. (2018) EU General Data Protection Regulation and Distributed Ledgers (Blockchain): Solutions to a Worst Case Scenario. Faculty of Economics, DHBW Stuttgart.

Sobey, A. (2018) Blockchain policy inertia: Where’s the disruption?. CUSPE Communications.

Masciandaro, D., Cillo, A., Borgonovo, E., Caselli, S. and Rabitti, G. (2018) Cryptocurrencies, Central Bank Digital Cash, Traditional Money: Does Privacy Matter?. BAFFI CAREFIN Centre Research Paper No. 2018-95.

Kouhizadeh, M. and Sarkis, J. (2018) Blockchain Practices, Potentials, and Perspectives in Greening Supply Chains. Sustainability, 10(10), 3652.

Mosakheil, J.H. (2018) Security Threats Classification in Blockchains. St. Cloud State  University, Minnesota. p.40.

Wibowo, S. and Hw, E. (2018). Blockchain Implementation Assessment Framework, Case Study of IoT LPWA Licensing in Indonesia. 2018 International Conference on ICT for Smart Society (ICISS).

O’Dair, M. (2018) Distributed Creativity. p.55-79,95-112.

Borgonovo, E., Cillo, A., Caselli, S. and Masciandaro, D. (2018) Between Cash, Deposit and Bitcoin: Would We Like a Central Bank Digital Currency? Money Demand and Experimental Economics. BAFFI CAREFIN Centre Research Paper No. 2018-75.

Pastor, I.G., Olaso, J.R., Fuente, F. (2018) Unveiling the Opportunities of Using Blockchain in Project Management. 1st International Conference on Research and Education in Project Management – REPM 2018. 22-25.

Dunphy, P., Garratt, L., Petitcolas, F. (2018) Decentralizing Digital Identity: Open Challenges for Distributed Ledgers. Innovation Center, VASCO Data Security.

Tasca, P.  (2018) Token-Based Business Models. Palgrave-Macmillan. Disrupting Finance: FinTech and Strategy in the 21st Century. 135-148.

Zīle, K. and Strazdiņa, R. (2018). Blockchain Use Cases and Their Feasibility. Applied Computer Systems, 23(1), 12-20.

Adams, W. (2018) Strategic Implications of Blockchain. BYU Marriott School.

Fenwick, M., Kaal, W. and Vermeulen, E. (2018) Why ‘Blockchain’ Will Disrupt Corporate Organizations. Lex Research Topics in Corporate Law & Economics Working Paper No. 2018-3.

KAFOL, C., BREGAR, A., TRILAR, J. (2018) Blockchain for Energy Utilities. DAAAM International Scientific Book, p.159-174.

Romero Ugarte, J. (2018) Distributed Ledger Technology (DLT): Introduction. Banco de Espana Article 19/18.

Brilliantova, V. and Thurner, T. (2018) Blockchain and the future of energy. Technology in Society.

Serrano-Calle, S. and Delarue, E. (2018) Smart Technologies Applied to the Energy Sector. Renewable Energy Expansion Strengthened by Digital Communications and Distributed Ledger Technologies?. Trento. 29th European Regional ITS Conference.

Temelkov, Z., Boshkov, T., Zezova, A. (2018) Alternative Financing Sources Supporting Smes Growth. SocioBrains, 2018(52), p. 232,233.

Garriga, M., Arias, M. and De Renzis, A. (2018) Blockchain and Cryptocurrency: A comparative framework of the main Architectural Drivers. Argentina. National Scientific and Technical Research Council.

Kukurba, M. and Waszkiewicz, A. (2018) Crowdfunding as a Form of Funding for Businesses in the Culturally-Changing Global Economy: A Literature Review. Journal of Intercultural Management, 10(2), 99-137.

Masciarelli, F., Pietro, F., Prencipe, A. (2018) Believe or not believe? The effect of local religion on individuals’ participation on crossregional reward-based crowdfunding projects. Copenhagen, DRUID18, Copenhagen Business School.

England, C., Fratrik, C. (2018) Where to Bitcoin?. The Journal of Private Enterprise, 33(1), 9–30.

Guzman, R.M. (2018) How Financial Tech Can Aid Financial Inclusion in Mexico. Cornell Policy Review.

Huang, Z., Chiu, C., Mo, S. and Marjerison, R. (2018) The nature of crowdfunding in China: initial evidence. Asia Pacific Journal of Innovation and Entrepreneurship, 12(3), 300-322.

Jan, C. (2018) The Evolution of the Online Marketplace, and its Viability as an Institutional Asset Class. Harvard Kennedy School. p.19,28,30.

Saric, M.S., Pepur, S., Viskovic, J. (2018) State of the Early Stage Market in Croatia. International Scientific Conference on Economic and Social Development, 254-263.

MOLNÁR, J. (2018) What does financial intermediation theory tell us about fintechs?. Budapest Management Review.

Campbell-Verduyn, M. (2018) Bitcoin and Beyond: Cryptocurrencies, Blockchains, and Global Governance. Taylor & Francis.

Truby, J. (2018) Decarbonizing Bitcoin: Law and policy choices for reducing the energy consumption of Blockchain technologies and digital currencies. Energy Research & Social Science, 44, 399-410.

Demertzis, M., Merler, S. and Wolff, G. (2018) Capital Markets Union and the Fintech Opportunity. Journal of Financial Regulation, 4(1), 157-165.

Wu, K., Wheatley, S., Sornette, S. (2018) Classification of cryptocurrency coins and tokens by the dynamics of their market capitalisations. ETH Zurich.

Saad, M., Khormali, A. and Mohaisen, A. (2018) End-to-End Analysis of In-Browser Cryptojacking. University of Central Florida.

Tu, C., Odorico, P.D., Suweis, S. (2018) Critical slowing down associated with critical transition and risk of collapse in cryptocurrency. University of California, Berkeley.

Saad, M. and Mohaisen, A. (2018) Towards characterizing blockchain-based cryptocurrencies for highly-accurate predictions. IEEE INFOCOM 2018 – IEEE Conference on Computer Communications Workshops (INFOCOM WKSHPS).

Brown, K. (2018) Bitcoin and Ethereum: Empirical Evidence on Node Distribution. University of Colorado, Boulder.

Gao, W., Hatcher, W. and Yu, W. (2018) A Survey of Blockchain: Techniques, Applications, and Challenges. 2018 27th International Conference on Computer Communication and Networks (ICCCN).

Alessandretti, L., ElBahrawy, A., Aiello, L. and Baronchelli, A. (2018) Anticipating Cryptocurrency Prices Using Machine Learning. Complexity, 2018, 1-16.

Paul, K. (2018) Ancient Artifacts vs. Digital Artifacts: New Tools for Unmasking the Sale of Illicit Antiquities on the Dark Web. Arts, 7(2), p.12.

Morency, D.S. (2018) Regulatory Implications of Cryptocurrency on The Bank Of England. Lehigh University.

Lustig, C. (2018) Algorithmic Authority of the Bitcoin Blockchain. UC Irvine.

Ankenbrand, T., Bieri, D. (2018) Assessment of cryptocurrencies as an asset class by their characteristics. Investment Management and Financial Innovations, 15(3), 169-181.

Frebowitz, R. (2018) Cryptocurrency and State Sovereignty. Naval Postgraduate School Monterey United States.

Costanza, N. (2018) Cryptocurrency: The Argument for its Allocation Within the Traditional Investor’s Portfolio. Sam M. Walton College of Business.

Ram, A. (2018) Bitcoin as a new asset class. Meditari Accountancy Research.

McCook, H.  (2018) The Cost & Sustainability of Bitcoin.

Hollekim, E.R., Raa, J. (2018) Exploration of bubble properties in cryptocurrencies. Norwegian School of Economics.

Fu, Y., Du, R. and Li, D. (2018) Distribution of CA-Role in Block-Chain Systems. Cloud Computing and Security, 276-285.

Peprah, W.K., Afriyie, A.O., Abandoh-Sam, J.A.,  Afriyie, E.O. (2018) Dollarization 2.0 a Cryptocurrency: Impact on Traditional Banks and Fiat Currency. International Journal of Academic Research in Business and Social Sciences, 8(6), p.341-349.

Oehler, A., Wendt, S. (2018) The Impact of Increasing Digitalisation and the Financial Crisis. The Return of Trust? Institutions and the Public after the Icelandic Financial Crisis, 195 – 211.

Mayer, C., Siegel, D. and Wright, M. (2018) Entrepreneurship: an assessment. Oxford Review of Economic Policy, 34(4), 517-539.

Leong, K., Sung, A. (2018) FinTech (Financial Technology): What is It and How to Use Technologies to Create Business Value in Fintech Way?. International Journal of Innovation, Management and Technology, 9 (2), p.74-78.

Doan, M. and McKie, D. (2018) Developing investor relations and strategic financial communication: Contemporary opportunities, risks, and tensions. Asia Pacific Public Relations Journal, 19, 1-15.

McMillan, J. (2018) The end of the banks: Why we do not need them.

Mitra, J. (2018). Sharing, Giving and Taking: Enabling Citizen Entrepreneurship. Piero Formica , Martin Curley (ed.) Exploring the Culture of Open Innovation, 69 – 106

Gibilaro, L. and Mattarocci, G. (2018) Peer-to-peer lending and real estate mortgages: evidence from United Kingdom. Journal of European Real Estate Research, 11(3), 319-334.

Baccega, T. (2018) P2P lending: credit scoring e analisi di performance. Ca ‘Foscari University of Venice.

DOAN, M.A. (2018) Expanding financial communication: Investor relations, crowdfunding, and democracy in the time of fintech. The University of Waikato. p.102,109,137,169,194.

Wati, C.R., Winarno, A. (2018) The Performance of Crowdfunding Model as an Alternative Funding Source for Micro, Small, and Medium-Scale Businesses in Various Countries. The First International Research Conference on Economics and Business (IRCEB). p.16–33.

Dziuba, D. (2018) Crowdfunding Platforms in Invoice Trading as Alternative Financial Markets. Warsaw University, Faculty of Economic Sciences. p.459,462,463,464.

Nchabeleng, L.M. (2017) The determinants of the financial bootstrapping strategies used by rural small, medium and micro enterprises in fetakgomo municipality, limpopo province, south africa. University of Limpopo. P.46,146.

Bueno, P. (2017) Speculative investment, heavy-tailed distribution and risk management of Bitcoin exchange rate returns. Journal of Progressive Research in Social Sciences, 5(1), 347-355.

Bednarz, J., Markiewicz, M., Płoska, A. (2017) The determinants and development of crowdfunding in the Central and Eastern Europe countries. Ekonomia i Prawo. Economics and Law, 3, p.275-285

Coakley, J., Huang-Meier, W., Tsvetanov, D. (2017) The role of crowdfunded debt in early stage entrepreneurial finance.

Barin Cruz, L., Aquino Alves, M. and Delbridge, R. (2017). Next steps in organizing alternatives to capitalism: toward a relational research agenda. M@n@gement, 20(4), p.322.

Coakley, J., Huang-Meier, W., Tsvetanov, D. (2017) P2P debt and the capital structure of private SMEs.

Sales, A.L.S. (2017) Equity Crowdfunding in the UK. University of Porto.

Macchiavello, E. (2017) Microfinance and Financial Inclusion – The challenge of regulating alternative forms of finance. Taylor & Francis.

Premoli, F. (2017) The impact of digital innovations on the current banks’ offering towards SMEs. Politecnico Di Milano.

Easley, D., O’Hara, M. and Basu, S. (2017) From Mining to Markets: the Evolution of Bitcoin Transaction Fees. Cornell University.

Peterson, T. (2017) Metcalfe’s Law as a Model for Bitcoin’s Value. Alternative Investment Analyst Review, 7(2), 9-18.

Furche, P., Madeira, C., Marcel, M., Medel, C.A (2017) FinTech and the Future of Central Banking. Banco Central de Chile.

Novak, I., Knežević, B., Skrobot, P. (2017). Crowdfunding of Entrepreneurial Projects in Sport. Entrenova Conference Proceedings.

Kim, M., Lee, H. and Hwang, S. (2017) An Economic Analysis of the Sharing Economy: Benefits, Concerns and Policy Implications. Korean Development Institute.

CRUZ, J.V. (2017) The Economics of Crowdfunding: Entrepreneurs’ and Platforms’ Strategies. Universite Paris 13.

Lowies, B., Viljoen, C. and McGreal, S. (2017) Investor perspectives on property crowdfunding: evidence from Australia. Journal of Financial Management of Property and Construction, 22(3), 303-321.

Borgonovo, E., Caselli, S., Cillo, A. and Masciandaro, D. (2017) Beyond Bitcoin and Cash: Do We Would Like a Central Bank Digital Currency? A Financial and Political Economics Approach. Baffi Carefin Centre Research Paper No. 2017-65.

Del Río, C. (2017) Use of distributed ledger technology by central banks: A review. Ecuador. Universidad de Otavalo.

Chen, H., Tsai, CH. (2017) Changing Regulations of Peer-to-Peer Lending in China. Banking & Financial Services Policy Report, 6(11), 13-25.

Monika, K., Janina, H. (2017) Alternative payments – taxonomy, development, and related risks. Bezpieczny Bank Issue, 4(69), 88-108.

ElBahrawy, A., Alessandretti, L., Kandler, A., Pastor-Satorras, R. and Baronchelli, A. (2017) Evolutionary dynamics of the cryptocurrency market. Royal Society Open Science, 4(11), 170623.

Østbye, P. (2017) The Adequacy of Competition Policy for Cryptocurrency Markets. Norges Bank.

Sun Yin, H. and Vatrapu, R. (2017) A first estimation of the proportion of cybercriminal entities in the bitcoin ecosystem using supervised machine learning. 2017 IEEE International Conference on Big Data (Big Data).

Nica, O., Piotrowska, K. and Schenk-Hoppp, K. (2017) Cryptocurrencies: Concept and Current Market Structure. University of Manchester, FinTech working paper no. 1.

Martén, M. (2017) Digital rights management : blockchain and digital music content management. University of Jyväskylä. p.21.

Hubrich, S. (2017) Know When to Hodl ‘Em, Know When to Fodl ‘Em’: An Investigation of Factor Based Investing in the Cryptocurrency Space.

Jayasinghe, D. (2017) Enhancing the Security of Centralised and Distributed Payments. University of London.

ElBahrawy, A., Alessandretti, L., Kandler, A., Pastor-Satorras, R. and Baronchelli, A. (2017) Bitcoin ecology: Quantifying and modelling the long-term dynamics of the cryptocurrency market.

Rubanov, P., Marcantonio, A. (2017) Alternative Finance Business-Models: Online Platforms. Financial Markets, Institutions and Risks, 1(3), 92-98.

Dorfleitner, G., Hornuf, L., Schmitt, M. and Weber, M. (2017) FinTech in Germany.

Koetter, M., Rehbein, O. (2017) Enabling the wisdom of the crowd: Transparency in peer-to-peer finance. Halle Institute for Economic Research (IWH).

SORIANO, M.A. (2017) Factors driving financial inclusion and financial performance in Fintech new ventures: An empirical study. Singapore Management University. 49.

Daskalakis, N. and Yue, W. (2017) User’s Perceptions of Motivations and Risks in Crowdfunding with Financial Returns. SSRN Electronic Journal.

Ollivaud, P. (2017) Boosting productivity in Switzerland. OECD Economics Department Working Papers.

Sedita, S.R. (2017) When the crowd becomes shareholder: an enquiry on Italian Equity Crowdfunding initiatives. Italy. UNIVERSITA’ DEGLI STUDI DI PADOVA

Langley, P., Leyshon, A. (2017) Capitalizing on the crowd: The monetary and financial ecologies of crowdfunding. Environment and Planning A: Economy and Space, 49(5), 1019–1039.

Mohammadi, A. and Shafi, K. (2017) How Wise Are Crowd? A Comparative Study of Crowd and Institutions. Academy of Management Proceedings, 2017(1), 13707.

Light, A. and Briggs, J. (2017) Crowdfunding Platforms and the Design of Paying Publics. Proceedings of the 2017 CHI Conference on Human Factors in Computing Systems – CHI ’17.

Blaće, M. (2017) CROWDFUNDING. Croatia. Polytechnic of Sibenik. p.8, 28,39,40.

Schmitt, M. (2017) Equity Crowdfunding: Local Bias, Capital Structure, and Venture Performance. Universität Trier. p.2,3,4,74,130.


Wright, M., Lumpkin, T., Zott, C. and Agarwal, R. (2016) The Evolving Entrepreneurial Finance Landscape. Strategic Entrepreneurship Journal, 10(3), 229-234.

Milne, A. (2016) Competition Policy and the Financial Technology Revolution in Banking. UK. Loughborough University. 4,19.

Franks, J. and Sussman, O. (2016) Marketplace Lending, Information Aggregation, and Liquidity. SSRN Electronic Journal. 6,32.

Dorfleitner, G., Hornuf, L., Schmitt, M. and Weber, M. (2016) The Fintech Market in Germany. SSRN Electronic Journal.

Sharma, S., Lertnuwat, N. (2016) THE FINANCIAL CROWDFUNDING WITH DIVERSE BUSINESS MODELS. Journal of Asian and African Social Science and Humanities, 2(2), 74-89.

Paulet, E. and Relano, F. (2016). Exploring the Determinants of Crowdfunding: The Influence of the Banking System. Strategic Change, 26(2), 175-191.

Scharnagl, C.A. (2016) Equity Crowdfunding: A Possible Replacement for Traditional Financing Sources?. Portugal. Universidade Católica Portuguesa. p.69,70,89,90.

Langley, P., Leyshon, A. (2016) Platform capitalism: The intermediation and capitalization of digital economic circulation. Durham University. p.39.

Estrada, D., Zamora, P. (2016) P2P Lending and Screening Incentives. The Second International Workshop P2P Financial Systems.

Regulatory and policy impact and citations

Regulatory and policy impact and citations from CCAF’s research.

The Government of the Bahamas (2020) The Digital Assets and Registered Exchanges Bill, 2020

Bank for International Settlements – Bank of England – Centre for Economic Policy Research (2020) Workshop on “Financial innovation: implications for competition, regulation and monetary policy”

Ministry of Finance, Japan (2020) An Overview of Online Alternative Finance: Public Policy Review, Vol.16, No. 4 [p.5/6/18]

Bank of England (2020) The impact of Covid on machine learning and data science in UK banking – Quarterly Bulletin 2020 Q4

World Bank (2020) Promoting Digital and Innovative SME Financing [p. vi/23-25/30-33/48-58/103-104]

Inter-American Development Bank (2020) Reporte Global de Benchmarking para Crowdfunding y Finanzas Alternativas: Una Visón Para América Latina y el Caribe

IFC Report No 10 (2020) Central banks and fintech data issues [p. 3/23]

IMF (2020) Filling the Gap: Digital Credit and Financial Inclusion [p. 2/4/7/29]

Bank for International Settlements (2020) The economic forces driving fintech adoption across countries [p. 3/4/7/11]

IFC Report No 12 (2020) Towards monitoring financial innovation in central bank statistics [p. iv/4/16/46/125]

Parliament of Australia (2020) Select Committee on Financial Technology and Regulatory Technology – Interim Report [p. 10/11/112]

CBI (2020) Reimagining regulation – Creating a framework fit for the future [p. 42]

Asian Development Bank Institute (2020) Macroeconomic Stabilization in the Digital Age [p. x/71/84]

Bank for International Settlements (2020) The dawn of fintech in Latin America: landscape, prospects and challenges [p. 31]

IMF (2020) FinTech in Europe: Promises and Threats WP/20/241 [p. 9-10/20/34-35]

European Parliament (2020) Regulatory Sandboxes and Innovation Hubs for FinTech: Impact on Innovation, Financial Stability and Supervisory Convergence [p. 5/20/24/56]

Financial Stability Board (2020) BigTech Firms in Finance in Emerging Market and Developing Economies: Market developments and potential financial stability implications [p. 9]

IMF (2020) Malaysia: Selected Issues; IMF Country Report No. 20/58 [p. 21]

OECD (2020) Taxing Virtual Currencies: An Overview of Tax Treatments and Emerging Tax Policy Issues [p. 9/12/17/46-47/53/59]

Bank for International Settlement (2020) Fintech and big tech credit: a new database [p. 2/4/6/14/26/27]

FSD Africa (2020) FinTech and Regulation: Thinking outside the (sand)box

Financial Stability Board (2020) Regulating fintech financing: digital banks and fintech platforms [p.4/5/34/35]

OECD (2020) Alternative Financing Instruments for ASEAN SMEs [p. 92-100/108-112/148-149/162]

IMF (2020) The Promise of Fintech: Financial Inclusion in the Post COVID-19 Era [p. v/vii/50/67]

Bank for International Settlements (2020) Leveraging technology to support supervision: challenges and collaborative solutions [p. 4]

Asian Development Bank Institute (2019) Regulating FinTech: Objectives, Principles and Practices [p. 6/7/8/9]

Bank of Greece (2019) A new European landscape towards a unified credit market and the role of the credit bureau

World Economic Forum (2019) As Big Tech gets into banking, these are the risks to watch out for

Financial Stability Board (2019) Global Monitoring Report on Non-Bank Financial Intermediation 2018 [p. 68]

Bank of France (2019) Financial regulation and supervision issues raised by the impact of tech firms on financial services [p. 6]

Deutsche Bundesbank (2019) Digitalization, competition and financial stability [p. 11]

HM Government UK (2019) Cambridge Centre for Alternative Finance launches collaboration network in Chile

IMF – Asia and Pacific Department (2019) Strategy for Fintech Applications in the Pacific Island Countries [p. 53]

OECD (2019) Cryptoassets in Asia: Consumer attitudes, behaviours and experiences [p. 43-44]

World Bank (2019) Regulating Alternative Finance: Results From a Global Regulator Survey

Financial Stability Board (2019) BigTech in Finance: Market developments and potential financial stability implications [p. 13]

Central Bank of the Republic of Turkey (2019) Financial Stability Report, Volume 28 [p. 17]

Asian Development Bank Institute (2019) Optimal Regulation of P2P Lending for Small and Medium-Sized Enterprises [p. 2/6/12]

Nigeria SEC (2019) Report of the FinTech Roadmap Committee of the Nigerian Capital Market [p.13/14/52]

SUERF (2019) Towards a European Governance Framework for Cryptoassets [p. 3]

Financial Stability Board (2019) Evaluation of the effects of financial regulatory reforms on small and medium-sized enterprises: Consultative document [p. 17]

OECD (2019) Global Blockchain Policy Forum: The Policy Environment for Blockchain Innovation and Adoption

FCA UK (2019) FCA proposes ban on sale of crypto-derivatives to retail consumers

World Bank (2019) Keeping pace with alternative finance

Financial Stability Board (2019) FinTech and market structure in financial services: Market developments and potential financial stability implications [p. 24-25]

European Commission (2019) Creating a more competitive and innovative financial market

Institution of Civil Engineers (2019) ICE reponse to HM Treasury and the Infrastructure and Projects Authority consultation: Infrastructure Finance Review [p.7]

Bank for International Settlements (2019) Central banking and innovation: partners in the quest for financial inclusion [p. 7]

Deutsche Bundesbank (2019) Gathering Fintech Data Outside Statistical Departments: Summary of the IFC WG stock-taking exercise [p.10]

Financial Stability Board (2019) Decentralised financial technologies: Report on financial stability, regulatory and governance implications [p.15-19]

UNSGSA (2019) Early Lessons on Regulatory Innovations to Enable Inclusive FinTech: Innovation Offices, Regulatory Sandboxes, and Reg

British Business Bank (2019) Small Business Finance Markets Report 18/19 [p.83]

International Finance Corporation – World Bank (2019) Blockchain: opportunities for Private Enterprises in Emerging Markets [p.36,54]

European Commission (2018) Banking and Finance Newsletter: Crowdfunding

Bank for International Settlements, (2018) Defining and measuring fintech credit

House of Commons Treasury Committee, (2018) Government and Financial Conduct Authority Responses to the Committee’s Twenty-Fourth Report: SME Finance [p. 1/8]

Bank for International Settlements (2018) Fintech credit markets around the world: size, drivers and policy issues [p.31-32, 34-38, 40, 46]

National Crowdfunding & Fintech Association, Canada (2018) Cambridge Centre for Alternative Finance Launches Global Research to Provide the Most Comprehensive Research on Fintech Available Today

HM Treasury, UK (2018) Explanatory Memorandum on European Union Legislation [p.1]

House of Commons, Treasury Committee (2018) SME Finance Twenty-Fourth Report of Session 2017–19

Oesterreichische Nationalbank, Austria (2018) A primer on peer-to-peer lending: immediate financial intermediation in practice [p.37-39, 48, 50]

United States Agency for International Development (2018) Primer On Blockchain [p.13, 19, 21]

Federal Reserve Bank of Atlanta, Center for Financial Innovation and Stability (2018) Consumer Credit, Blockchains, and Machine Learning

Federal Reserve Bank of Philadelphia (2018) The Roles of Alternative Data and Machine Learning in Fintech Lending: Evidence from the Lending Club Consumer Platform

Federal Reserve Bank of Philadelphia (2018) Do Fintech Lenders Penetrate Areas That Are Underserved by Traditional Banks?

United Nations Economic and Social Commission for Asia and the Pacific (2018) Potential of financial technology in East and North-East Asia [p.1-2]

United Nations Economic and Social Commission for Asia and the Pacific (2018) Financing for development in Asia and the Pacific [p.19, 44]

World Bank (2018) Crowdfunding’s Potential in The Caribbean A Preliminary Assessment [p.7, 19, 31, 33, 117-118]

World Bank (2018) Crowdfunding Has Potential for the Caribbean – Under the Right Conditions

ASEAN (2018) Handbook for MSME Access to Alternative Sources of Finance in ASEAN [p.14, 72]

UNSGSA (2018) Seizing Fintech’s Potential for Financial Inclusion

OECD (2018) Recent Trends in SME and Entrepreneurship Finance [p.58-59]

OECD (2018) Regulatory Framework for the Loan-Based Crowdfunding Platforms [p.12-13, 16-19, 27, 41]

OECD (2018) Blockchain Technology and Corporate Governance [p.12-13, 30]

Bank of Finland (2018) Crowdfunding and peer-to-peer lending

ADBI-Bank of Thailand Conference on Innovative Finance for Future Growth (2018) Trends in P2P Consumer Lending

CMVM-I Conference of Crowdfunding (2018) Alternative Finance Market Data

Alliance for Financial Inclusion (2018) Arab policymakers and regulators, AMF, GIZ, AFI, World Bank Group to launch FinTech Symposium and Arab FinTech Agenda

OECD (2018) Workshop on Digital Financial Assets: Opportunities and Challenges

OECD, Greg Medcraft, Director, Financial & Enterprise Affairs (2018) The Global Forces Shaping Finance – Keynote address by Greg Medcraft

British Embassy Santiago and Department for International Trade Chile (2018) UK Cambridge fintech experts visit Chile to share regulatory expertise

OECD, (2017) Boosting Productivity in Switzerland; Economics Department Working Papers No. 1443 [p. 48]

World Bank, (2017) Crowdfunding’s Potential in The Caribbean: A Preliminary Assessment [p.6-7/19/31-33/117-118]

Federal Reserve – USA (2017) Report to the Congress on the Availability of Credit to Small Businesses [p.49]

Financial Stability Board-BIS (2017) Regulatory and Supervisory Issues from FinTech

Reserve Bank of Australia (2017) The Availability of Business Finance

Governor of the Central Bank of Chile (2017) FinTech and the Future of Central Banking: A Latin American Perspective

Financial Stability Board-BIS (2017) FinTech credit – Market structure, business models and financial stability implications [p.6-10, 16, 18-19, 21, 41-42]

Federal Reserve Bank of San Francisco (2017) Asia’s Fintech Revolution

SEACEN (2017) Policy Summit on Shadow Banking and its Financial Stability Implications

FSD Africa (2017) Enterprise Finance in Africa: Learning from New Trends Opportunities and Challenges in Europe and the United States

Australian Government, Treasury (2017) Australia grows to become Asia-Pacific’s second largest alternative finance market

IFC, SME Finance Forum (2017) Africa and Middle East Alternative Finance Benchmarking Report

The International Organisation of Securities Commissions (IOSCO) (2017) Research Report on Financial Technologies (Fintech) [p.10, 12, 14, 16, 67]

BEUC, The European Consumer Organisation (2017) The Never-Ending European Credit Data Mess [p.74]

European Investment Bank Institute (2017) Alternative Finance Forum: Fintech, Social Finance and More

Bank of Israel (2017) What is Marketplace Lending? How is it Different from Banks?

Bank of Israel (2017) annual Report – The Private Sector’s Financial Assets and Liabilities [p.141-142, 146]

Alliance for Financial Inclusion (2017) Sharing AFI’s lessons on FinTech and de-risking through peer-learning in the Caribbean

IMF (2017)  Linkages between Financial Services and Economic Activity in Rwanda [p.15]

OECD (2017) Reviving Productive Investment in Estonia [p.23]

Institute for Public Policy Research (2017) Report: Equitable equity: Increasing and diversifying finance for high-growth SMEs in the UK’s regions [p.25, 26, 50, 53]

Mark Carney, Bank of England (2017) The promise of FinTech – something new under the sun?

HM Treasury, UK (2015)  ISA qualifying investments: consultation on whether to include investment-based crowdfunding

The International Organisation of Securities Commissions (IOSCO) (2015) Crowdfunding (2015 survey responses report)

Working Party No.2 on Competition & Regulation, OECD (2015) Hearing on disruptive innovation in the financial sector [p.9]

Italian Ministry of Economic Development (2015) Annual report on innovative startups and SMEs [p.97, 104]

European Institute of Financial Regulation (2015) Moving mainstream – the European alternative finance benchmarking report

Department for Business Innovation and Skills, UK (2015) Small business investment: equity tracker

European Commission (2015) The European Crowdfunding Stakeholder Forum

FCA, UK (2015) A review of the regulatory regime for crowdfunding and the promotion of non-readily realizable securities by other media [p.3-5, 8]

British Business Bank (2015) Small business finance markets 2014 [p.54]