Blockchain Papers

Linta Islam, Syada Tasmia, Mafizur Rahman, Ayesha Aziz · 7 authors

In today’s world, crowdsourcing is a highly rising paradigm where mass people are engaged in solving a problem. Though this system has a lot of advantages, yet people are not interested in working on this platform. Thus, we survey people to find out the constraints of this platform and the main reason behind their unwillingness. 59% of people think that security and privacy is the major challenge of a crowdsourcing platform. Therefore, we propose a blockchain-based crowdsourced system which can provide security and privacy to the user’s information. We also have used a smart contract to verify the task so that the users get the exact output that they have wanted. We implemented our system and compared the performance with the existing systems. Our proposed approach outperforms the current methods in terms of cost and properties.

Geethu Mary George, L. S. Jayashree

Blockchain, the foundation of Ethereum, has received greater attention on recent years as a decentralised and distributed public ledger technology that offers different properties like security, privacy, scalability and immutability during online data transactions, reduces cost of transactions, and enables verification and efficient exchange of personnel information across many computers without any trusted parties. The goal of this survey is to propel some methods in preserving user privacy during data transactions using Ethereum smart contract. We analysed the privacy challenges in blockchain and figured out the existing cryptographic mechanisms in preserving the transaction privacy. We also addressed some technique for simplifying claim settlement process in healthcare insurance. By using Ethereum blockchain via smart contract, current challenges in insurance such as being time-consuming, can be avoided thereby preventing insurance frauds and thus improving transparency to all members in-network. It also helps to avoid paper-based contracts, which are prone to errors, and removes the intermediaries. Furthermore, there is still a need to examine and consider future research in order to overcome privacy attacks when using blockchain.

Muhammad Athar Nadeem, Zhiying Liu, Abdul Hameed Pitafi, Amna Younis · 5 authors

The share of electronic transactions in the global payments continues to increase all around the globe. In the recent years, cryptocurrencies (also known as a system of electronic transaction) have caught significant attention from governments, policymakers, and practitioners worldwide. Cryptocurrencies as an innovative method of exchanges without any physical form boast several potential benefits such as speedy transactions, cross-border usage, low transaction fee, transparency, high security, anonymity, and privacy, and thus are expected to bring huge revolution in the future economic system. This study aims to investigate the adoption factors of Bitcoin, a most known cryptocurrency in China. Based on Technology Acceptance Model, a research framework has been developed to test the proposed hypotheses. The data have been collected via a survey questionnaire from 385 Chinese respondents. The findings show that the perceived ease of use and the perceived usefulness have a positive relationship with the intention to use Bitcoin. The perceived usefulness mediates the relationship between the perceived ease of use and the intention to use Bitcoin. Furthermore, the results reveal that the transaction processing and the perceived ease of use have significant impacts on the perceived usefulness. However, the security and control shows an insignificant effect on the perceived usefulness. This study contributes to the growing literature of Bitcoin and offers valuable information to individual users (payees), fund managers (investors), and companies/businesses (receiving Bitcoin as a payment method). Research implications and limitations are also discussed.

Horst Treiblmaier, Daniel Leung, Andrei O. J. Kwok, Aaron Tham

Blockchain technologies are predicted to substantially transform the tourism industry. At present, cryptocurrencies are the most advanced application of public blockchains that promise benefits such as a universal means of payment and minimal fees through the removal of intermediaries. In the tourism industry, though many tourism vendors have been accepting cryptocurrencies and the potential of using cryptocurrencies in travel-related consumption has been intensively documented, existing knowledge about travellers’ intention to use cryptocurrencies for payment purposes is limited. Traditional models do not account for the idiosyncrasies of cryptocurrencies and are therefore less appropriate to foster the understanding of travellers’ adoption of travel-related payments. To fill this knowledge gap, an exploratory study was conducted with 161 travellers from the Asia-Pacific region who have previously consumed travel-related services with cryptocurrencies. Their previous usage experiences are analysed and reported. Through harnessing the correspondence analysis, several technological contingency factors were identified, as well as positive and negative perceptual antecedents. Additionally, their levels of satisfaction and intention to re-use the technology in future trips were investigated. Based on these findings, several propositions are suggested for guiding future research on travellers’ cryptocurrency adoption in the travel and tourism contexts.

Kwang O. Park

The adoption of blockchain technology (BT) is becoming increasingly important to the logistics industry. It is expected to make the entire supply chain process more efficient and competitive by providing visibility, reliability, and economic viability. This study aims to explore factors influencing the adoption of blockchain in the logistics industry and examine the effects of the reciprocal causal relationship between the identified factors. Empirical research aimed at understanding the functional characteristics of BT and bolstering its application is considerably lacking. This study, therefore, aims to examine the concepts and the types of BT based on a literature review related to blockchain. Factors affecting blockchain adoption are identified using a model, which was developed using the unified theory of acceptance and use of technology (UTAUT) and the technology-organization-environment (TOE) frameworks as well as a literature review. The results provide fundamental insights into the adoption of BT in the logistics industry by increasing the understanding of associated factors and underscoring the functional characteristics of this emerging technology.

Shakirullah Hamza

Rapid technological advancements in the last few decades have given rise to various new products and fields, such as cryptocurrencies, social media and sentiment analysis. The massive surge in internet usage has caused organizations and investors to increasingly base their decisions on content placed on social media platforms which are flooded with data from its users. One of those platforms is twitter, a micro-blogging platform which allows people to share their opinions in a limited number of characters. Certain users on these platforms have the ability to influence other users' decision making, including investing. Although stock market prediction through sentiment analysis has been researched often, the amount of research done on prediction Bitcoin prices is relatively low. Furthermore, there is a gap in existing research in which samples are not limited to users that have more knowledge than individual investors. This paper uses sentiment analysis on tweets made be cryptocurrency influencers to see whether they can be used to predict Bitcoin price fluctuations. This paper, additionally researches differences in predictive capabilities between regions and differences in predictive capabilities between a bear and a bull market. The results in indicate that tweets made by cryptocurrency influencers contain statistically significant information about the future value of bitcoin. Thus, analyzing those tweets to exploit profitable opportunities can be worthwhile.

Farris Ian Gillies, Chun-Teck Lye, Lee-Ying Tay

Bitcoin is an emerging digital asset and is getting more attention in the media as of writing. Though, despite the regulatory matters, this paper is more concerned with the factors that influence the behavioral intention to use Bitcoin by the Malaysian. Although there are some recent studies on the intention and acceptance of Bitcoin, yet there is limited evidence from Malaysia. Therefore, this study intends on shedding some light on the current stance of the Malaysians on Bitcoin by examining the factors that affect the behavioral intention to use Bitcoin in Malaysia grounded on the Unified Theory of Acceptance and Use of Technology (UTAUT) model. The data was collected using an online self-administered questionnaire through the relevant local Malaysian forums and local cryptocurrency groups. The result shows that performance expectancy has the greatest influence on the users’ behavioral intention to use Bitcoin, followed by other factors such as social influence and facilitating conditions. Additional analysis of variance and moderation analyses show no significant difference in the mean of the behavioral intention between different demographic characteristics, and the interactions of the demographic characteristics and the UTAUT factors also demonstrate an insignificant effect on the behavioral intention to use Bitcoin. The result suggests that the behavioral intention to use Bitcoin by the Malaysian may increase if the use of Bitcoin can provide convenience to the public and businesses, but it is also influenced by the social and facilitating conditions. The result well reflects the main function of Bitcoin, that is as a currency and also as an investment tool. The finding echoes the effort and policies of the government of Malaysia to find an equilibrium between the use and the abuse of digital currencies as a currency, as well as the risks and returns of digital currencies as an investment tool.

Eloy Gil‐Cordero, Juan-Pedro Cabrera-Sánchez, Manuel Jesús Arrás-Cortés

Cryptocurrencies are a new form of digital asset that operate through blockchain technology and whose purpose is to be used as a means of exchange. Some, such as bitcoin, have become globally recognized in recent years, but the uncertainty surrounding cryptocurrencies raises questions about their intended use. This study has the task of investigating the different factors that affect the intention behind the use of cryptocurrencies by developing a new research model and using Partial Least Squares (PLS) to assess it. The results show that all the constructs proposed have significative influence, either directly or indirectly, on the intention behind the use of cryptocurrencies. The findings provide value and utility for companies’ and cryptocurrencies’ intermediaries to formulate their business strategies.

Authors unavailable

Increased adoption of the Internet of Things (IoT) in multiple domain areas continuously increases the volume of data and transactions from the IoT devices. The IoT systems are vulnerable to more attacks because of increased adoptions and technology adoptions. Protecting the data and providing security to the data and transactions is one of the critical issues for the effective quality of service (QoS) in the IoT environments. An adaptable IoT framework is proposed based on the research approach of 'ADOPT' that leverages the blockchain technology and features considering security as one of the QoS parameters. In the proposed model of a three-layer IoT architecture with an application layer, network layer, and perception layer, the blockchain features are adopted for the resource-constrained IoT environment. In the perception layer, the model uses a local and temporary memory to maintain the local chain, which is managed based on the memory size and time constraints. The application layer nodes manage the synchronization of the data from the corresponding local chain at the edge node. The implementation of the proposed model uses Ethereum, an open-source public blockchain, and using mobile devices as an edge node. The results are verified for security factors like access, authorizations, confidentiality, and computing resources.

Murat Tahir Çaldağ, Ebru Gökalp

Utilization of Intelligent Transportation Systems (ITS) provides increasing demands on decreasing traffic congestions, transportation safety, and environmental problems as well as increasing transportation capacity. Over the past few years, one of the most disruptive and transformational technologies, blockchain technology, has emerged. As a result of offering more security, privacy, traceability, transparency, and decentralized authority, the utilization of blockchain technology in ITS have increased drastically. Despite this increase, there is a lack of a good understanding of what are the Critical Success Factors (CSF) to support IT providers for designing their products properly, and to provide industry leaders to focus on the main drivers of their outstanding projects. This study aims to explore and analyze CSFs that can facilitate the success of blockchain-based ITS, which has so far been neglected despite its remarkable relevance. In doing so, eleven primary studies, identified as a result of conducting a systematic literature review (SLR), were taken as a baseline to develop the model of CSFs. Additionally, since the number of existing studies related to CSFs for blockchain and ITS are limited, an expert panel was formed to evaluate and contribute to the model. The developed model of CSF for blockchain-based ITS, having a comprehensive approach, consists of 29 CSFs defined under five main contexts, namely technical, management, governance, quality of service, and quality of life. Doi: 10.28991/esj-2020-SP1-03 Full Text: PDF

Nazir Ullah, Waleed S. Alnumay, Waleed Mugahed Al-Rahmi, Ahmed Ibrahim Alzahrani · 5 authors

In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.

Ebru Gökalp, Mert Onuralp Gökalp, Selin Çoban

This study investigates the importance of the determinants affecting the adoption and usage of blockchain-based SCM systems in the context of organizations. Hence, an SLR method was followed to uncover critical determinants in the literature. Then, a research model, including 14 key determinants, was developed based on the TOE Framework. Subsequently, the AHP method was applied to rank the adoption determinants. The findings reveal that environment-related determinants are more critical than technology-related or organization-related determinants.

Karoline Busse, Mohammad Tahaei, Katharina Krombholz, Emanuel von Zezschwitz · 7 authors

Payment cultures around the globe are diverse and have significant implications on security, privacy and trust. We study usable security aspects of payment cultures in four culturally distinct societies. Based on a qualitative study in Germany and Iran, we developed an online survey and deployed it in Germany, Iran, China, and the United States. The results reveal significant differences between the studied countries. For example, we found that participants from Iran and China are more comfortable with credential sharing and German participants were most accepting towards cryptocurrencies. We suggest these kinds of differences in payment culture need to be considered in the context of HCI research when evaluating current payment mechanisms or designing new ones.

Eun-Jung Shin, Hyoung‐Goo Kang, Kyounghun Bae

This study investigated the application of a blockchain for promoting the sustainable development of non-profit organizations (NPOs). Transparency and good governance are important for operating NPOs in addition to building trust with relevant stakeholders. NPOs consume a large amount of resources (including funds) to monitor their operations and present their transparency and soundness of governance to interested stakeholders. Blockchain technology can fulfill an NPO’s requirements at a lower cost and with a higher efficiency. We reviewed the existing research on NPO governance and blockchain applications. In addition, through case studies, we identified sustainable development strategies for NPOs involving blockchain technologies to increase donation, reduce cost, enhance transparency, and improve governance structure.

Kyeongbaek Kim, Gayeoun Lee, Sang-Bum Kim

Blockchain technology has been recognized as one of the emerging technologies that can significantly innovate many industries. Major advantages of using blockchain technology includes reducing transaction costs, preventing data forgery and alteration, and further flexibility. The construction industry is generally considered as an industry that has great potentials for blockchain technology utilization mainly due to the high volume of transactions among various entities. Despite the perceived positive impact, there have been few cases of blockchain applications within the construction industry. This study is conducted with an aim of finding ways to apply blockchain technology to the construction industry. In order to identify potential application areas, construction lifecycle and project management knowledge areas are used in developing a survey questionnaire. Data collected from the survey is analyzed by employing importance performance analysis (IPA) method considering both applicability of the technology and anticipated impact from utilizing the technology. In relation to the construction project lifecycle, ‘Project Cost/Change Management’, ‘Contract Bidding and Formation’, and ‘Procurement Evaluation’ are emerged as top three candidates for blockchain application with high applicability and impact. Regarding the knowledge area, ‘Procurement Management’ and ‘Cost Management’ are identified as the main blockchain application areas with high applicability and impact. All the identified specific construction tasks with high applicability and impact are related to ‘Procurement’, ‘Contract’, and ‘Cost’. Therefore, it is reasonable to start focusing blockchain convergence efforts these areas and then expand them as the technology matures.

Francesco Bolici, Chiara Acciarini, Lucia Marchegiani, Luca Pirolo

Purpose Technological innovations provide huge opportunities to expand and revolutionize the scope of products and services offered. This is particularly true for tourism, which is undergoing significant changes due to the development of new technologies. The level of technology diffusion depends on several factors like the exchange of information among peers, and the attitude and shared perception among the contributors. The aim of the study is to explore the diffusion of technology in tourism with a specific focus on the social media discourse around new technologies. Thus, the paper investigates the level of interest in these new technologies analysing the information exchange occurring between individuals on Twitter in order to explore the influence of reciprocal networking. Design/methodology/approach To capture the attitudes expressed in the industry, the study analyses the ongoing discourse on Twitter as a proxy for the participants “interest in new technologies. Through a social network analysis of the tweets and retweets conducted over a period of nine months, the research maps the level of information exchange about the diffusion of new technologies. Moreover, the sentiment analysis provides an interesting overview of the individuals” attitudes towards the awareness or the adoption of new technologies. Findings Our analysis has provided several insights: (1) the information network on blockchain in tourism consists of participants who change very quickly over time ( high turnover of accounts ); (2) some contributors have an extremely important role in influencing the flow of information in the system ( information centralization ), they can have a generalist (discussing several topics) or a specialist (focusing on a specific topic) behaviour and this strategic choice influences their network's structure; (3) these central nodes also have an impact on the definition of positive and negative sentiment towards a topic ( sentiment influencer ). Research limitations/implications The paper contributes to the literature on technology diffusion, by focusing on one of the preconditions of diffusion that is the shared positive attitude towards technological innovation. More specifically, we adopt a network-based approach, which is useful to explain the level of information exchange and the public discourse that can impact the shared perception and attitude towards technological innovation. The study also highlights the role of knowledge brokers in influencing this public discourse. Future studies can deepen the association between positive perception, higher levels of information exchange and increasing usage of specific technologies. Our results also suggest further exploring the opportunity to combine social media data and other sources of information to shed more light on the technological innovation diffusion processes. Practical implications This paper shows how practitioners can benefit from the analysis of information exchange about new technologies in tourism adopting a network perspective with the aim of understanding the level of influence among contributors. Moreover, the increasing interest in blockchain technology and the potential combination between social media data and other sources of information can offer promising insights. Social implications The present study explores the level of technology diffusion through the analysis of information exchange on social media (Twitter). Furthermore, the dynamics of individual user behaviour offers a better understanding about media effects. Originality/value While previous research is focused on the users' perception towards the development of new technologies in tourism, the aim of this study is to investigate the dynamics behind the level of diffusion of information and awareness about these new technologies, which still represents an unexplored area of research.

Lulwah AlSuwaidan, Nuha Almegren

Emerging technologies such as Internet of Things (IoT) and blockchain have affected the digital transformation. Blockchain, on the one hand, was initially developed for the purpose of financial trading due to its robustness especially for fault tolerance and cryptographic security in addition to its decentralized architecture. IoT, on the other hand, is an open interconnected network of smart devices able to communicate simultaneously. This arises a challenge in privacy and security, specifically for the data being exchanged. To overcome this, studies have focused on the blockchain to resolve the security and privacy issues of IoT. Indeed, limited studies have proposed to assess blockchain’s viability for IoT and the associated challenges. In this paper, a conceptual model has proposed to identify the crucial factors affecting the adoption of blockchain in IoT. The model consists of four dimensions of factors that we assume will affect the adoption of the two technologies. The dimensions are: attitude-related factors, social influence related factors, data-related factors, and security-related factors. This model is validated through a survey that was distributed between professionals in blockchain and IoT. The findings show a significant impact of data-related factors on the adoption of blockchain in IoT and the intention to use them. The model can play an important role in the development of strategies, standards, and performance assessment.

Ricardo Colomo‐Palacios, Mary Sánchez‐Gordón, Daniel Arias Aranda

Abstract Blockchain is considered as a major emerging technology that is having an ever‐increasing spread both in industrial and academic contexts. As the usage of blockchain keeps increasing, a fourth generation of blockchain platforms is being proposed. Thus, applications of blockchain have evolved towards wider scopes than cryptocurrency and asset management. In this context, it is important for practitioners to have deep understanding of various blockchain assessment initiatives. Therefore, this work discusses blockchain assessment initiatives from a technology evolution viewpoint. Furthermore, a mapping was conducted to identify factors that impact blockchain initiatives, synthesize available evidence, and identify gaps between relevant approaches available in the literature. As a result, nine selected works were analyzed based on applicability, research approach, assessment process, blockchain adoption process, and blockchain waves. The findings can help practitioners to understand the main assessment factors that undermine blockchain implementations.

Hamed Khazaei

Blockchain technology is gaining consideration more and more and will potentially revolutionize most of the industries. Bitcoin cryptocurrency which uses Blockchain platform, has even promoted this technology more. Blockchain is a decentralized source and encrypted database for storing transaction information. Instead of being dependent on a centralised mediator like bank, by using blockchain, parties can transfer fund promptly trough connected ledgers called blocks. Using this method transactions will significantly be more transparent for both parties. Consequently, transactions are performed based on the distributed trust among other blockchain users in the network. Blockchain will promote transparency in every industry, yet implementation of blockchain technology is still limited. This study focuses to study the possible factors affecting adoption of blockchain technology by focusing on literature review and using Unified Theory of Acceptance and Use of Technology as a theoretical basis.

Mahadi Hasan Miraz, Mohamad Ghozali Hassan, Kamal Imran Mohd Sharif

Certain types of blockchains were made and developed for various purposes. Despite the development of cohort systems, the blockchain needs more development from the perspective of Malaysia. In addition, blockchain is the only cryptographic block currency that improves retail marketing. This study has critically analyzed the variables of the current research Framework of the blockchain implementation in retail market. Thus, this study aims to implement blockchain in retail market for increaseing customer benefits in order to improve the retail industrial supply chain activities. In order to achieve the main aim, this study comprises of two main phases, which are theorietical study, developemnt of proposed blockchain factors and its implementation. The blockchain experience of variables, blockchain management, blockchain transaction policy, blockchain adaption and implications were discussed gradually. Finally, we demonstrate the underlying theory, the theoretical framework and the hypotheses were discussed in detail.

Abderahman Rejeb, John G. Keogh, Horst Treiblmaier

The proliferation of sophisticated e-commerce platforms coupled with mobile applications has ignited growth in business-to-consumer (B2C) commerce, reshaped organizational structures and revamped value creation processes. Simultaneously‚ new technologies have altered the dynamics of brand marketing‚ enabling a broader reach and more personalized targeting aimed at increasing brand trust and enhancing customer loyalty. Today‚ the Internet allows marketers to penetrate existing markets, create new online marketplaces and to generate new demand. This dynamic market engagement uses new technologies to target consumers more effectively. In this conceptual paper, we discuss how blockchain technology can potentially impact a firm’s marketing activities. More specifically, we illustrate how blockchain technology can empower the consumer-centric paradigm and foster disintermediation‚ combat click fraud, reinforce trust and transparency, enable privacy protection, empower security and enable creative loyalty programs. We present six propositions that will guide future blockchain-related research in the area of marketing.

Guych Nuryyev, Yu‐Ping Wang, Jennet Achyldurdyyeva, Bih‐Shiaw Jaw · 7 authors

This paper investigates the factors influencing the intention to adopt cryptocurrency payments among small to medium-sized enterprises (SMEs) in tourism and hospitality through the lens of the technology acceptance model (TAM). This paper uses an original sample of 101 SMEs employing a total of 15,831 people in Taiwan. Structural equation modeling is used to examine the joint effect of both internal and external factors influencing the intention to use cryptocurrency payments. Results show that (1) strategic orientation, owner/managers personal characteristics (self-efficacy and innovativeness) and social influence have a strong effect on the intention to adopt new technology; (2) perceived usefulness mediates the effects of strategic orientation and social influence; and (3) perceived ease of use mediates the effect of self-efficacy on the intention to adopt cryptocurrency payments. The present study is one of few empirical inquiries about cryptocurrency payment adoption among SMEs. This study extends the theoretical foundations of the TAM into the specific characteristics of SMEs. Limitations of the study are sample size and a single survey design. However, findings of this research on the cryptocurrency payment adoption offer practical implications for tourism stakeholders towards supporting SMEs competitiveness. The originality of this study is based on the fact that cryptocurrency payment is a new technology, and on the potential of cryptocurrency payments to disrupt the traditional way of operating tourism and hospitality SMEs. Hence the importance to consider major factors influencing SMEs’ intentions to adopt this technology.

Hyeji Jang, Sung H. Han, Ju Hwan Kim

Emerging technologies have played an important role in driving major changes in human society. However, the advent of most technologies is typically initially accompanied by confusion; this is often because technology developers overlook the user perspective. This study was conducted to systematically determine the fundamental causes of problems that users encounter when they interact with blockchain technology, one of the promising emerging technologies today, and to suggest relevant design strategies. To this end, usability evaluation was conducted for the KDEX decentralized exchange application. To ensure the effective identification of the significant usability problems, heuristic evaluation with four experts and usability testing with 23 experimental participants were carried out. The results obtained show that more user-centered design is necessary to enable the widespread use of decentralized applications. Based on the experimental findings, actionable design strategies that facilitate the effective utilization of emerging technologies are suggested. The proposed strategies are expected to enable users to easily understand and navigate applications based on these technologies.

Fay Koster, Hans P. Borgman

Blockchain has been heralded as a technology that can transform entire sectors, including the public sector where blockchain applications are believed to bring a wide range of benefits. The public sector is lagging behind, however, in its actual adoption of blockchain technology, and our understanding of the factors that explain the slow adoption rate, is lacking. Based on seven case studies of blockchain projects at various adoption stages, this research contributes to our understanding of what factors influence blockchain adoption in the public sector. We use an extended TOE framework that includes an inter-organizational perspective. The findings show that adoption is influenced by the hype around—and resistance to—blockchain technology; by top management support, by (perceptions of) the regulatory environment; as well as by trust between blockchain partners, which is both an antecedent as well as a consequence of blockchain adoption.