Blockchain Papers

Avinandan Taron, Surajit Ghosh, Giriraj Amarnath

No abstract is available for this record.

Molla Ramizur Rahman, Muhammad Abubakr Naeem, Sitara Karim, Larisa Yarovaya

No abstract is available for this record.

Diogo Costa-Cunha

1. L’évolution des techniques et du droit. Il y a presque vingt ans, le législateur national accueillit favorablement les évolutions de l’économie numérique, en consacrant le commerce électronique comme « l’activité économique par laquelle une personne propose ou assure à distance et par voie électronique la fourniture de biens ou de services »1. Le droit européen participe également activement

Promitheas Peridis

No abstract is available for this record.

Henri B. Meier, John E. Marthinsen, Pascal Gantenbein, Samuel S. Weber

Abstract The value chains of Switzerland’s incumbent market players, such as banks and insurance companies, will be increasingly challenged by new technologies and competitors like FinTech, InsurTech, and RegTech firms. Digitalization, artificial intelligence, big data, machine learning, smart contracts, data analytics, distributed ledger technologies, robotics, biometrics, and gamification are just a few ingredients spurring the FinTech revolution and breaking up existing value chains. These developments will fuel the consolidation of processes and collaborations with third parties and shift the boundaries between financial services providers. To support new business models in banking and insurance, the Swiss finance sector has invested in its infrastructure to trade digital assets. It has also been one of the very few early movers globally in providing a comprehensive and solid DLT regulation.

Yulin Zheng, Jianxin Hu, Ying Zhu, Tao Wang

The guarantee rule system of digital RMB is a system that needs to be continuously improved. Its core is to establish the legal status and guarantee rules of digital RMB. Based on the research of the existing guarantee rule system, on the basis of drawing lessons from the existing blockchain technology and intelligent contract technology, this paper puts forward the idea of using intelligent contract to assist in the construction of digital RMB guarantee rule system. By embedding smart contracts in the whole process of digital RMB issuance, circulation and destruction, we can provide more enforceable guarantees for digital RMB, and gradually establish a digital RMB guarantee rule system that is compatible with China's current legal system and meets the needs of China's financial innovation.

Josephine Permata Sari, Joniarto Parung

Blockchain as a distributed ledger technology that can guarantee transparency and speed in real time is increasingly being used to increase supply chain performance directly or indirectly.Blockchain in the form of smart contracts in the insurance business will speed up insurance claims and increase transparancy, which will indirectly improve supply chain performance.This article aims to identify the role of smart contracts in increasing efficiency and applying smart contract designs to disbursing life insurance claims.The method for designing and implementing smart contracts was developed on the Ethereum platform involving several parties such as insurers, customers, and CAIPY Dapp.CAIPY is the name of the system being developed.CAIPY ensures that the system can prevent data manipulation, data leakage and guarantees the security of the smart contract itself.This research includes planning what data is needed in the smart contract design.Based on these data requirements, a system architecture, system mechanism is prepared, and closed with the design of a smart contract.This research produces a life insurance claim system in the form of a website by utilizing smart contracts.Analysis of the impact of implementing this system found an accelerated claim process, transparency of reasons for rejection in real time, and claims that are guaranteed as long as the conditions meet the policy requirements.

Baocheng Wang, Shiping Chen, Qin Wang

No abstract is available for this record.

Brian Haney

No abstract is available for this record.

Ganesh Makam

The emergence of smart contracts and the increasing integration of artificial intelligence (AI) have introduced new dimensions to traditional contract law. This research paper aims to explore the profound impact of smart contracts and AI on the foundations and principles of contract law. It examines the benefits, challenges, and legal implications that arise from the adoption of these technological advancements. By analysing relevant case law, scholarly literature, and regulatory frameworks, this paper provides insights into the potential transformation of contract law in the era of smart contracts and AI. This research paper aims to contribute to the ongoing discussion on the impact of smart contracts and AI on traditional contract law. By examining the benefits, challenges, and legal implications, it provides a comprehensive analysis that can inform policymakers, legal practitioners, and scholars in navigating the evolving landscape of contract law in the digital age.

Cameron MacDonald, Laura Zhao

No abstract is available for this record.

Fabio Bassan, Maddalena Rabitti

The issue surrounding the nature and function of smart contracts in the context of legal relationships has garnered significant attention from the European and national legislators, regulatory bodies and legal scholarship. Sections I and II of this essay give an account of the results of the ongoing doctrinal debate, which is not univocal. The objective is to provide an assessment of both the advantages and limitations associated with smart legal contracts. In Section III, the authors introduce a novel negotiation process termed "contracts on chain". This process enables parties to engage in negotiations, formalize agreements and execute contracts directly on the blockchain . Consequently, this negotiation approach serves as a potential bridge between the realms of Web 2 and Web 3. Further, it offers a user experience akin to online contracts but benefits from the inherent capabilities of third-generation blockchains. Albeit on-chain contracts can be deployed on both private and public blockchains, the authors express a preference for their use on the public blockchain within a "logical platform". This choice allows to enhance regulatory compliance and mitigate the effects of decentralization on liability regimes, while simultaneously optimizing the efficiency gains of public blockchains. Notably, this approach ensures a level of protection commensurate with that offered by private blockchains. The ultimate goal of this innovative process is to streamline the ongoing technological transition and cultivate greater trust within the market for emerging technologies.

Runhuan Feng, Mao Li

No abstract is available for this record.

Xia Feng, Haiyang Liu, Liangmin Wang, Huijuan Zhu · 5 authors

Smart contracts hold billions of dollars in digital currency, and their security vulnerabilities have drawn a lot of attention in recent years. Traditional methods for detecting smart contract vulnerabilities rely primarily on symbol execution, which makes them time-consuming with high false positive rates. Recently, deep learning approaches have alleviated these issues but still face several major limitations, such as lack of interpretability and susceptibility to evasion techniques. In this paper, we propose a feature selection method for uplifting modeling. The fundamental concept of this method is a feature selection algorithm, utilizing interpretation outcomes to select critical features thereby reducing the scales of features. The learning speed could be accelerated significantly because of the reduction of the feature size. The experiment shows that our proposed model performs well in six types of vulnerability detection. The accuracy of each is higher than 93% and the average detection time of each smart contract is less than 1 ms. Notably, through our proposed feature selection algorithm, the training time of each type of vulnerability is reduced by nearly 80% compared with its original.

Anne Lafarre, Christoph Van der Elst

Blockchain and distributed ledger technologies are considered as transformative for corporate governance and enabling decentralized autonomous organizations (DAOs) that challenge hierarchical structures. However, legal, governance, and liability issues surround DAOs. Despite the aim for decentralization, practical implementation often reveals centralized elements. The chapter also explores blockchain’s impact on traditional corporations, emphasizing improvements in share issuance, trading, and decision-making. Blockchain can also address custody chain problems, enhancing transparency in securities and stock ownership. Yet, transitioning to blockchain, exemplified by ASX CHESS Replacement, is complex. While blockchain holds promise in fostering shareholder and stakeholder rights, a nuanced assessment of limitations and practicalities is crucial. More classical alternatives like secure and transparent centralized systems should also be considered in corporate governance.

Hyungjin Ko, Bumho Son, Jaewook Lee

No abstract is available for this record.

Nitin Liladhar Rane, Saurabh Choudhary, Jayesh Rane

No abstract is available for this record.

Wanqing Jie, Qi Chen, Jiaqi Wang, Arthur Sandor Voundi Koe · 8 authors

No abstract is available for this record.

Christoph Sendner, Huili Chen, Hossein Fereidooni, Lukas Petzi · 9 authors

Ethereum smart contracts are automated decentralized applications on the blockchain that describe the terms of the agreement between buyers and sellers, reducing the need for trusted intermediaries and arbitration. However, the deployment of smart contracts introduces new attack vectors into the cryptocurrency systems. In particular, programming flaws in smart contracts have been already exploited to lead to enormous financial loss. Hence, it is crucial to detect various vulnerability types in contracts effectively and efficiently. Existing vulnerability detection methods are limited in scope as they typically focus on one or a very limited set of vulnerabilities. Also, extending them to new vulnerability types requires costly re-design. \n \nIn this work, we develop ESCORT, a deep learning-based vulnerability detection method that uses a common feature extractor to learn generic bytecode semantics of smart contracts and separate branches to learn the features of each vulnerability type. As a multi-label classifier, ESCORT can detect multiple vulnerabilities of the contract at once. Compared to prior detection methods, ESCORT can be easily extended to new vulnerability types with limited data via transfer learning. When a new vulnerability type emerges, ESCORT adds a new branch to the trained feature extractor and trains it with limited data. We evaluated ESCORT on a dataset of 3.61 million smart contracts and demonstrate that it achieves an average F1 score of 98% on six vulnerability types in initial training and yields an average F1 score of 96% in transfer learning phase on five additional vulnerability types. To the best of our knowledge, ESCORT is the first deep learning-based framework that utilizes transfer learning on new vulnerability types with minimal model modification and re-training overhead. Compared with existing non-ML tools, ESCORT can be applied to contracts of arbitrary complexity and ensures 100% contract coverage. In addition, we enable concurrent detection of multiple vulnerability types using a single unified framework, thus avoiding the efforts of setting up multiple tools and greatly reducing the detection time. We will open source our dataset and the data labeling toolchain to facilitate future research.

Akanksha Jalan, Roman Matkovskyy

No abstract is available for this record.

Junghwan Cho, Sun-Woong Kim, Heung-Sik Choi

무기한 선물(Perpetual Swaps)은 가상 자산 시장에서만 유일하게 관찰할 수 있는 파생상품으로 2020년 이후 현재 약 20여 곳 이상의 가상 자산 거래소에서 서비스를 제공하고 있으며 2020년 전체 거래 시장의 20.4%, 2021년 50.4%를 차지할 정도로 양적 성장을 이루었다. 본 연구는 거래소 간 비트코인 무기한 선물과 현물(Spot) 간의 가격 차이를 이용해 차익 거래 기회에 대한 실증 분석 결과를 제시한다. 연구 결과, 비트코인 현물과 무기한 선물 가격의 음과 양이 역전 될 때를 거래 진입 및 청산 신호로 인식하는 매매를 통하여 차익 거래 수익을 창출할 수 있음을 확인하였다. 또한 분 단위 거래에서 거래수수료는 차익 거래 수익에 민감하게 작용하였지만, 일 단위 거래에서는 거래 수수료에 민감하지 않은 양의 수익을 보여주었다. 그리고 분 단위 거래에서는 월 평균 9%, 일 단위 거래에서는 월 평균 38%의 높은 수익률을 나타내었다.

Jiaqi Qin, Shansong Huang, Boying Yang, Yilin Ma · 6 authors

Everyone is eager for high yield and low risk. In this research, we use Markowitz's investment theory and Monte Carlo simulation to find the optimal investment portfolio and then study the impact of adding Bitcoin to the traditional investment portfolio on the cumulative rate of return. Our results show that the return performance of the investment portfolio with Bitcoin is better than that of the traditional investment portfolio. Moreover, despite the impact of COVID-19 on the global economy and the Federal Reserve's quantitative easing policy, it is beneficial for investors to include Bitcoin in their portfolio allocation.

ZHENG Yue LI Leixiao

As an important part of blockchain technology, smart contracts are widely used in various fields through decentralized applications written by smart contracts, providing important technical support for the development and application of blockchain. However, the development has brought security problems at the same time, and a large number of vulnerability attacks against smart contracts have made researchers pay more attention to the security vulnerabilities of smart contracts. How to quickly and accurately perform vulnerability detection has become an urgent problem to be solved. Firstly, through the analysis of common vulnerabilities such as reentrancy attack vulnerabilities, integer overflow and access control vulnerabilities, researchers can fully understand the common vulnerabilities. Secondly, by investigating the current status of vulnerability detection methods such as formal verification, symbolic execution, machine learning and their corresponding tools at home and abroad, analyzing and discussing the advantages and disadvantages of the tools, at the same time, replicating some tools for experiments, the performance of the vulnerability detection tools is demonstrated based on the detection speed, accuracy, and the number of vulnerabilities that support detection. Finally, suggestions for future research directions are given based on the analysis results of smart contract vulnerability detection tools.

C Turnbull, Wily Sher, Liyaning Tang

Abstract Construction industry professionals suffer regularly from poor cash-flow which reflects non-payment or payment delays down the hierarchical chain. This issue is important as the construction industry has the highest rates of insolvency in Australia, the UK and many other countries. Payment conditions under current construction contracts have proven to be inefficient in delivering timely payments as human interference has control over processing claims. This paper investigated the status of contracts and contract law in Australia and the potential of smart contract technology in improving payment issues in the industry. Qualitative data was collected from secondary literature sources which included observations from industry professionals, real case studies, secondary research and government surveys. It was found that smart contracts feature self-executing digital contracts, immutable data, require no intermediaries and provide transparency on all levels. Although these features are fit for purpose in resolving current contractual issues, smart contracts are not yet available in the construction industry. It was also found that smart contracts do have the potential to provide a trusted and reliable payment system in the construction industry, although there are some aspects it is unlikely to replace such as human performance. Research limitations and future research directions are also provided.