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Published in:
2015 | OriginalPaper | Chapter
The Bitcoin Market Potential Index
Author : Garrick Hileman
Published in: Financial Cryptography and Data Security
Publisher: Springer Berlin Heidelberg
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Abstract
The Bitcoin Market Potential Index (BMPI) is a new composite indicator that conceptualizes and ranks the potential utility of bitcoin across 178 countries to show which countries have the most and least potential to see bitcoin adoption. The index utilizes a data set with 40 variables grouped into the index’s seven equally weighted sub-indices: technology penetration, international remittances, inflation, size of informal economy, financial repression, historical financial crises, and bitcoin penetration. Data across the different BMPI variables were first standardized as follows.