Juan Emmanuel Delva Benavides, Alondra Guadalupe Mora Hernández
The inherent changes brought by the implementation of technology in everyday life have repercussions in all areas, one of them, to mention a few among the most significant, is in the financial market, which it is among the most regulated sectors by both national governments and international entities
Dan Freeman, Tim McWilliams, Sudip Bhattacharyya, Craig Hall · 5 authors
Trust is paramount for the effective operation of any monetary system. While the distributed architecture of blockchain technology on which cryptocurrencies operate has many benefits, the anonymity of users on the blockchain has provided criminal users an opportunity to hide both their identities and illicit activities. In this paper, we present a scoring mechanism for cryptocurrency users where the scores represent users’ trustworthiness as safe or risky transactors in the cryptocurrency community. In order to distinguish law-abiding users from potential threats in the Bitcoin marketplace, we analyze historical thefts to profile transactions, classify them into risky and non-risky categories using several machine learning techniques, and finally calculate a reputation score for every unique user based on their past association with any unlawful Bitcoin incident. The Support Vector Machine model based on two key attributes produces an accuracy of 86% and is considered the most applicable for our dataset. Our reputation score ranges from 0 to the total number of transactions by a given user where a higher score indicates greater trustworthiness in making Bitcoin transactions. This score helps to identify reputable users and, therefore, acts as a guideline for safe Bitcoin transactions. In the cryptocurrency marketplace, our self-attestation metric in the form of a reputation score offers a foundation for enhancing trust between transacting parties.
Lightweight clients are gaining increasing adoption in existing blockchain deployments, owing to their reduced resource consumption. There are currently a number of libraries that implement lightweight clients (e.g., BIP37, Electrum, LES, filter commitments). Notice that these libraries are intrinsically different and require significant effort to be integrated across blockchain platforms. Additionally, lightweight clients require the cooperation of full nodes, which are expected to invest in their computational (to run filters) and bandwidth resources in order to serve lightweight clients. Existing blockchains however offer no rewards for full nodes in exchange-which offers little incentives for full nodes to correctly serve lightweight clients.
Cryptocurrencies are a sort of digital money created and managed through the use of advanced encryption techniques known as cryptography. This paper has made a simple explanation of cryptocurrencies (particularly Bitcoin) as well as an attempt to make some future assumptions regarding such virtual currencies with the aid of previous literature and published online sources. The various aspects of these virtual currencies are yet to be discovered in detail, but the author hopes that this simple, basic and narrative paper will be helpful to those seeking basic references regarding this newest issue.
Bitcoin is the first decentralized cryptocurrency to be traded. There has been drastic increase in the price of bitcoin since 2013. Granger Causality analysis has been carried out to examine whether the price of commodities and the exchange rates helps in predicting the future price of bitcoin. For this study, the price of bitcoin, commodity prices and exchange rates have been considered from Jan 2103-Sep 2017. After the analysis it can be concluded that the price of commodities and the exchange rates does not help in predicting the future price of bitcoin. The past data of the price of bitcoin helps in predicting the future price of copper and British pound exchange rate with that of U.S dollars. Using Regression analysis, it can be determined that when the price increases by 0.0084 dollars there is one unit increase in the volume of transaction. Using variance analysis it can be observed that the price of bitcoin is more volatile compared to the price of commodities and the exchange rates.
The invention of "BiT Coin (BTC)", by Satashi Nagamoto circa 2008, remains as a formidable task. There is a plenty of benefits to motivate a further development of BTC without the rare metal material as the token, as the early Digital Crypto Currency (DCC), e.g. ( "I owe you such under this reneging condition." The major difference in secured feature is taking the available World Wide Web broadcasting one-way to all memberships in the Cloud. However, only the (1) involved trading partners can read with their private keys, (2) no third party banking or broker fee, (3) no International currency exchange fee, and (4) no one can rob the digital bank, etc. These benefits have been endorsed by Small Business Innovative Research.
Dragos Strugar, Rasheed Hussain, Manuel Mazzara, Víctor Rivera
Electric Autonomous Vehicles (EAVs) promise to be an effective way to solve transportation issues such as accidents, emissions and congestion, and aim at establishing the foundation of Machine-to-Machine (M2M) economy. For this to be possible, the market should be able to offer appropriate charging services without involving humans. The state-of-the-art mechanisms of charging and billing do not meet this requirement, and often impose service fees for value transactions that may also endanger users and their location privacy. This paper aims at filling this gap and envisions a new charging architecture and a billing framework for EAV which would enable M2M transactions via the use of Distributed Ledger Technology (DLT).
The blockchain revolution upholds the decentralizing ideal of “control nothing.” It is natural that such a pursuit would face issues of governance that demand reasonable control; control that is both operational as well as adaptive in nature. Eliminating middlemen and handing over controls to a trusted system of trustless agents does not thereby bestow trust across time. This is especially true when relentless change is the order of the day. Issues of governance rise up when blockchain systems (especially those that have embedded smart contracts) are forced to operate increasingly away from their original intent. Smart contracts need governance when beset with the problem of the unknown-unknowns. Guided by the axiomatic approach, this paper looks at the paradoxical issue of blockchain governance from a Complex Adaptive Systems (CAS) perspective that helps frame the fundamental problem of decentralization. The objective is to solve the Blockchain Governance Kernel Design. Real-life examples are used to illustrate the findings.
Blockchain was launched as a social experiment by Satoshi Nakamoto in 2009, when the person \nor persons behind the pseudonym launched an online currency named Bitcoin. What started out \nas a decentralized alternative to traditional finance, has eventually turned into what some people \nbelieve to be a technological revolution. This may in time alter governments and businesses in \nthe same way the Internet did when it was popularized. \nHowever, there has been done little research on corporations and governments adoption of this \nnew technology. The presented study aims to expand this research, and develop a theoretical \nmodel that could explain some of the adoption intentions among corporations and their \nemployees. While being narrow in scope, the research may prove to be a suitable framework for \nbroader future studies on the technology. The established theoretical framework of the \nTechnology Adoption Model, with extensions from the Theory of Reasoned Action and Theory \nof Planned Behavior is the foundation for the research. \nThe data for this research was obtained through a survey (N=102), before the output was \nanalyzed. The results show that subjective norm and perceived usefulness are important factors \nof the intention to use Blockchain technology among Norwegian corporations. All in all, this \nmodel explains 45.7 % of the variance in intention to adopt the technology.
Cryptocurrency, or digital currency that utilizes blockchain technology and cryptography to encode transactions, has excited many with the promise of minimizing governance. Although the structure of cryptocurrency is inherently decentralized, cryptocurrency relies upon complex relationships between different actors with various functions and roles.. The execution of cryptocurrency thus depends on the mutually satisfying interactions of these actors, who form the basis for non-technical governance structures.\nThis paper investigates the extent to which technical governance mitigates traditional governance problems by examining the governance structures of two cryptocurrencies. It first gives background into the origin and technical value proposition of cryptocurrency, as well as governance theory, before analyzing Bitcoin and Ethereum to understand whEther technology mitigates actors’ motivations. This paper finds that despite cryptocurrency’s promise of minimizing governance, both Bitcoin and Ethereum rely heavily on trust networks, indicating that elements of non-technical governance are, in fact, crucial to their effectiveness.
The present work aims to provide a general economic analysis of cryptocurrencies. This \nanalysis refers in a general way to all cryptocurrencies but will mainly focus on bitcoin \nsince it is the currency with the highest usage and worldwide acceptance. Because the \nsubject is relatively new, this work begins by summarizing the history and important \nde nitions of the cryptocurrency ecosystem...
An emergence and a rapid development of cryptocurrencies have its monetary and technological background. From the monetary aspect, cryptocurrencies emerged as one of the solutions to the consequences of the last major World financial and economic crisis. To address the consequences of this crisis, the solution was the expansive monetary policy on the global level. Increasing the quantity of money in circulation leads to the fall of its value, and makes depositors search for the solutions for preserving the value of savings, apart from gold and other precious metals, outside the existing monetary system. In addition to this investment opportunity, the nature of cryptocurrencies as an easily transferable payment method, without an intermediary, further increased their attractiveness. From a technological point of view, the emergence of cryptocurrencies was enabled and supported by the emergence of a blockchain technology as a distributed database. This technology represents a decentralized, publicly available database containing registers of asset and transactions in the socalled peer to peer network run by globally connected computers without the impact of any state institutions or powerful individuals and corporations. Therefore, there is a common belief that transactions with cryptocurrencies are anonymous and, thus, often used on the black market. However, these transactions are only partially anonymous. Governments, as well as other users, may check each and every bitcoin address, the amount of money on these addresses, and the flows of money between those addresses through the Internet. There are also browsers called "blockchainexplorers", on the Internet, where after entering the address, it is possible to obtain information about the cash balance and all incoming and outgoing transactions.
We analyse the triangle of Initial Coin Offerings (ICO) and cryptocurrencies, namely Bitcoin and Ethereum. So far, little is known about the relationship between ICOs, bitcoin and Ether prices. Hence, we employ both bitcoin and Ether prices but also the ICO amount to measure the future development of raised capital in ICOs. First, our results indicate that an ICO has an influence on the subsequent ICO. Second, not only bitcoin prices but also Ether prices play a considerable role with regard to the output of ICO campaigns. However, the effect of Ethereum is of shorter duration on ICO compared to Bitcoin on ICO. A further finding is that the cryptocurrency Bitcoin positively influences Ether. The implications of these findings for investors and entrepreneurial firms are discussed.