Cryptocurrencies and our society
What role will cryptocurrencies play in our society? Dr Larisa Yarovaya talks about joining Southampton and the future of our financial landscape. (15 seconds)
Reducing impulsive spending
As we increasingly move towards a world without physical money, digital finance must be inclusive and accessible to all.
By teaming up with Dr Thomas Richardson from the School of Psychology and Dr Nic Fair from the School of Electronics and Computer Science, we have developed the My Brain Bankers app.
This is a financial tech (fintech) spin‑out to tackle the often-overlooked problem of impulsive spending linked to mental health conditions.
We have already developed a prototype Android app, which is undergoing testing, and we are seeking funding ahead of a market launch.
Safeguarding the vulnerable
Designed as a supportive digital app, My Brain Bankers helps support vulnerable users, particularly people with bipolar disorder, ADHD and related conditions, who face a significantly higher risk of financial distress due to reduced spending control during episodes, such as mania.
Using smartphone and wearable tech data, the app’s personalised algorithm learns what is ‘normal’ for each person.
When behaviour begins to shift, such as disrupted sleep patterns or sudden changes in activity, the app detects early warning signs and gently alerts the user.
Through carefully designed nudges, cognitive prompts and decision‑delay tools, it supports users to pause, reflect and regain control, reducing the risk of harmful, impulsive purchases.
Support and guidance without judgement
Crucially, this technology is built around dignity and self‑help.
It doesn’t remove financial autonomy or impose hard restrictions. Instead, it enables users to stay in control, offering supportive guidance, rather than judgement.
This approach has resonated strongly with users and families, who value having a trusted tool that complements personal awareness and reduces reliance on others to intervene.
A social and economic force
More broadly, my research looks at digital finance such as cryptocurrency as an investment asset and as a social and economic force.
I examine how crypto assets behave, how they can diversify investment portfolios, and how their future growth might be forecasted using data, modelling techniques, and emerging information sources.
In conventional finance, banks or payment providers act as intermediaries, validating transactions, and confirming ownership. With cryptocurrency, algorithms and computer code verify transactions automatically, confirming that the sender is authorised and that funds can move securely between digital addresses.
The crypto conundrum
Unlike traditional currencies, where exchange rates tend to be relatively stable over short periods, cryptocurrency values can change dramatically in weeks or even days.
This unpredictability makes it difficult to use reliably as a medium of exchange or store of value.
Having said that though, crypto is no longer isolated from traditional finance.
We now see stronger links, shared risks and patterns of the spread of harmful practice, alongside new opportunities for decentralised finance to enhance liquidity and market access.
Unlike many roles in industry, where work is often shaped by predefined targets, processes or performance metrics, our research culture allows us space to explore uncertainty, challenge assumptions, and uncover new perspectives.
The barriers remain significant
Adoption of crypto remains limited, with around 12–15 per cent of people in developed economies engaging with it. This is largely down to retail investors and younger, more tech‑confident users.
Age, trust in technology, access to digital tools, education and media narratives all influence who adopt crypto and who is left behind.
Misperceptions around criminal use, environmental impact and extreme risk continue to erode public trust. These dynamics matter, because innovation can’t deliver broad benefits if there is a lag in confidence and understanding.
My research focuses on practical impact. By identifying where risks, misunderstandings and exclusions arise, I provide evidence to support smarter regulation, better consumer protection, and more inclusive policy design.
The goal is not to slow innovation, but to shape it, so that digital finance can grow responsibly, support stability, unlock opportunity and work for society.
The sweet spot between subjects
Finance is not simply about balance sheets or net worth. It’s about human behaviour, incentives, narratives, and trust.
Markets are shaped as much by psychology and social dynamics as by numbers, and progress depends on recognising that decisions aren’t always made rationally – context matters.
Understanding complexity requires breadth as well as depth. Economics, psychology, data science, politics and policy all influence financial outcomes.
At its core, my work reflects a commitment to using analytical rigour and human insight together.
The space to explore uncertainty and challenge assumptions
These values that are so fundamental to my research are shared with my colleagues at the University of Southampton Business School (USBS).
When I first started work at USBS, it was fantastic to connect with people who were exploring fintech and digital finance. It felt like a rare and exciting opportunity.
At the time, very few people were working seriously in this space, and academia offered an environment where curiosity about emerging technologies could be explored thoughtfully.
Unlike many roles in industry, where work is often shaped by predefined targets, processes or performance metrics, our research culture allows us space to explore uncertainty, challenge assumptions, and uncover new perspectives.
That freedom, to be inquisitive and contribute to original insight, is something few professional environments truly offer.
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