next generation fintech eugene kagansky financial architecture digital assets cryptocurrency bitcoin blockchain financial reform risk management blocknet financial regulation nordo financial innovation decentralized exchange ingo walter public funds principal-agent restricted diversification asset management conflict of interests portfolio diversification portfolio management conflicts of interest moral hazard clustered diversification principal agent tranche convertible debt bailout viral acharya systemic risk catastrophe bond gideon greenspan massimo massa hedging tranches options tranched futures finite payoff capped payoff collateralized contract smart contract financial crime
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