In his paper ‘Smart Banks’, Maxi Günnewig, a postdoctoral researcher in the Department of Economics at the University of Bonn, and his co-authors establish a link between banks and blockchain-based smart contracts in a financial system of the future and show how the technology opens up new possibilities for organising the financial system.
Maxi Günnewig: “In our paper, my co-authors and I analyse if and how bank runs and potentially costly government interventions can be avoided. We want to understand how technological advancements can be leveraged to eliminate financial fragility and to avoid future crises. I would like to thank Frankfurt School, the WM Gruppe, the scientific committee and the jury as well as my co-authors. I am particularly proud that the award bears the name of Professor Philipp Sandner, whom I unfortunately never had the chance to meet in person.”
The international Philipp Sandner Award in Digital Finance Research is aimed at young researchers working on topics such as blockchain and digital assets, machine learning and artificial intelligence, as well as payment systems and financial platforms. The prize is awarded following a two-stage selection process: A scientific committee reviews all papers and draws up a shortlist, from which a jury, made up of representatives from business, science, and public administration, selects the winner.