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The Structure and Evolution of an Offline Peer-to-Peer Financial Network

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Complex Networks X (CompleNet 2019)

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Abstract

In this work, we investigate the structure and evolution of Venmo, one of the most popular peer-to-peer (P2P) mobile payment applications. A unique aspect of the network under consideration is that the edges among nodes represent financial transactions between individuals who shared an offline social interaction. We present a series of static and dynamic measurements that summarize the key aspects of any social network, namely the degree distribution, density, and connectivity. We find that the degree distributions do not follow a power-law distribution. With regards to density and connectivity, Venmo’s network exhibits densification and resilience, which indicate a high level of engagement from its users. Last, we examine the “topological” version of the small-world hypothesis, and find that Venmo users are separated by a mean of 5.9 steps and a median of 6 steps.

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Notes

  1. 1.

    https://bit.ly/2qhCRvG.

  2. 2.

    https://lendedu.com/blog/venmo.

  3. 3.

    http://fortune.com/2017/11/17/dan-schulman-paypal-venmo/.

  4. 4.

    We experimented with different values and found that after 2000 our results do not change.

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Author information

Authors and Affiliations

  1. Graduate School of Management, University of California, Davis, Davis, CA, USA

    Pantelis Loupos

  2. McCormick School of Engineering, Northwestern University, Evanston, IL, USA

    Alexandros Nathan

Authors
  1. Pantelis Loupos
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  2. Alexandros Nathan
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Editor information

Editors and Affiliations

  1. Center for Complex Network Research, Northeastern University, Boston, MA, USA

    Sean P. Cornelius

  2. Enginyeria Informàtica i Matemàtiques, Universitat Rovira i Virgili, Tarragona, Tarragona, Spain

    Clara Granell Martorell

  3. Department of Condensed Matter Physics, University of Zaragoza, Zaragoza, Spain

    Jesús Gómez-Gardeñes

  4. JPMorgan Chase & Co (United States), New York, NY, USA

    Bruno Gonçalves

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Loupos, P., Nathan, A. (2019). The Structure and Evolution of an Offline Peer-to-Peer Financial Network. In: Cornelius, S., Granell Martorell, C., Gómez-Gardeñes, J., Gonçalves, B. (eds) Complex Networks X. CompleNet 2019. Springer Proceedings in Complexity. Springer, Cham. https://doi.org/10.1007/978-3-030-14459-3_9

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