Blockchain Papers

Iris H‐Y Chiu

No abstract is available for this record.

Marianne Ojo

What roles exist for public and private partnerships within the context of central bank digital currencies (CBDCs), in an increasingly digitalized global system? Do central bank digital currencies (CBDCs) serve as public goods rather than tools which should primarily remain within the realm and governance of private sector firms? What challenges or risks are presented through the use of CBDCs and how can such risks be mitigated through current existing structures - as well as models which have been propounded in relation to public – private partnerships? This paper aims to contribute to the literature on the topic through a consideration of several variants and models of CBDCs under which the public private partnership would function, namely the synthetic CBDC (sCBDC) and the two-tiered CBDC. Further, two other types of CBDCs, namely the wholesale CBDC and the retail CBDC will be distinguished - as well as the account based CBDC, which is contrasted to CBDCs based on digital tokens. Whilst concerns for privacy and security remain paramount and cannot be undermined, particularly from the perspectives of distributed ledger technologies (and blockchains – through which such platforms operate), such concerns need to be weighed against the need for identification since regulators will be better supported in their goals in enforcing the law, as well as identifying fraudulent operations, where sufficient identification procedures have been put in place

Volker Brühl

Die Distributed Ledger- bzw. Blockchain-Technologie führt zu einer zunehmenden Dezentralisierung von Finanzdienstleistungen ("Decentralised Finance"), die weitgehend ohne die Einschaltung von Finanzintermediären angeboten werden können. Dazu trägt wesentlich die sog. "Tokenisierung" von Vermögensgegenständen, Zahlungsmitteln und Rechten bei, die verschlüsselt als "Kryptowerte" in verteilten Transaktionsregistern digital abgebildet werden können. Der vorliegende Beitrag erläutert die Grundlagen und Anwendungsfelder dezentraler Finanzdienstleistungen mit Kryptowerten, die mittelfristig die gesamte Architektur des Finanzsektors verändern könnten. Dieser Trend betrifft längst nicht nur die kontrovers diskutierten Zahlungsverkehrssysteme mit Kryptowährungen wie dem Bitcoin, sondern Handelsplattformen, Kapitalmärkte oder Unternehmensfinanzierungen. Es bildet sich ein rasch wachsendes Ökosystem aus Startups, Technologieunternehmen und etablierten Finanzdienstleistern, für das jedoch noch ein verlässlicher regulatorischer Rahmen fehlt. Die derzeit auf europäischer Ebene diskutierte Initiative "MiCA (Markets in Crypto Assets)" geht in die richtige Richtung, sollte aber im Interesse der Wettbewerbsfähigkeit des europäischen Finanzsektors zeitnah umgesetzt werden.

Luisa Scarcella

No abstract is available for this record.

Олександр Сергійович Омельчук, Д. Р. Байталюк

Omelchuk O. S., Baitaliuk D. R. Problems and prospects of legal regulation of country funding in Ukraine. – Article. The article is devoted to the problems of legal regulation of crowdfunding relations in Ukraine. It is determined that today the financing of commercial and socially important projects is becoming decentralized. Crowdfunding as a phenomenon has not been found to be new, but it has become widespread in the information age due to the spread of Internet technology. The opinion on the impossibility of correct definition of the sphere of regulated crowdfunding relations and methods of legal regulation is argued due to the fact that the domestic legislation does not establish a normative definition of the concept of crowdfunding. The available views on the definition of crowdfunding are analyzed, the author’s vision of the content of crowdfunding relations is formed. Crowdfunding relations were classified according to the type of project (commercial, social, environmental, creative crowdfunding), depending on the status of participants in crowdfunding relations (p2p-crowdfunding, p2b-crowdfunding, b2b-forms of crowdfunding), depending on the form of investment and the form of funds return. It is concluded that crowdfunding relations go beyond relations in the field of charity, credit, corporate or any other traditional contractual civil relations. It is proved that the private nature of these relations causes risks of violation of the rights of the parties to crowdfunding relations and public interests in cases of lack of proper legal regulation. According to the results of the study, the current legislation does not provide clear, transparent and effective mechanisms to protect donors’ rights in crowdfunding relations due to insufficient regulation of collective financing relations, lack of unity in law enforcement practice in determining the nature of such relations, uncertainty of crowdfunding status. An additional obstacle to resolving these issues at the legislative level is the transnational nature of such relations (the most popular crowdfunding platforms are outside domestic jurisdiction; a large number of projects involving funds are international and do not have a clear identification of their legal status in the public domain) and electronic form od relationships (cryptocurrency assets or platforms that do not provide personal and financial information to the recipient are increasingly used for crowdfunding).

Laila Ohk, Cam-Duc Au, Alexander Zureck

No abstract is available for this record.

Peng‐Fei Dai, John W. Goodell, Toan Luu Duc Huynh, Zhifeng Liu

No abstract is available for this record.

Joseph J. Lee

No abstract is available for this record.

Bryane Michael

No abstract is available for this record.

Karthik Raman

Cryptocurrency, powered by blockchain technology, is transforming retail finance by introducing decentralized payment systems and alternative financial instruments. This study examines the technological, economic, behavioral, and regulatory factors influencing cryptocurrency adoption among consumers and businesses. Cryptocurrencies such as Bitcoin, Ethereum, and stablecoins offer benefits including faster transactions, cross-border payments, greater transparency, and reduced reliance on centralized intermediaries. However, challenges such as price volatility, regulatory uncertainty, cybersecurity risks, limited merchant acceptance, and low consumer awareness continue to hinder widespread adoption. Using a conceptual research framework, the study analyzes factors such as perceived usefulness, security, trust, ease of use, financial benefits, and regulatory support. The findings indicate that cryptocurrency adoption is gradually shifting from speculative investment toward practical applications, including digital payments, cross-border settlements, loyalty programs, and decentralized financial services. Stablecoins and blockchain-based payment solutions show greater potential for retail finance due to their stability and usability. The study concludes that successful cryptocurrency integration requires a balance between innovation, security, regulatory compliance, and consumer trust, while improved regulations and financial education are essential for sustainable adoption.

Archie Chaudhury, Brian Haney

No abstract is available for this record.

Teresa Guarda, Maria Fernanda Augusto, Lídice Haz, José María Díaz Nafría

No abstract is available for this record.

Shada Alsalamah, Hessah A. Alsalamah, Thamer Nouh, Sara A. Alsalamah

An emerging healthcare delivery model is enabling a new era of clinical care based on well-informed decision-making processes. Current healthcare information systems (HISs) fall short of adopting this model due to a conflict between information security needed to implement the new model and those already enforced locally to support traditional care models. Meanwhile, in recent times, the healthcare sector has shown a substantial interest in the potential of using blockchain technology for providing quality care to patients. No blockchain solution proposed so far has fully addressed emerging cross-organization information-sharing needs in healthcare. In this paper, we aim to study the use of blockchain in equipping struggling HISs to cope with the demands of the new healthcare delivery model, by proposing HealthyBlockchain as a granular patient-centered ledger that digitally tracks a patient’s medical transactions all along the treatment pathway to support the care teams. The patient-centered ledger is a neutral tamper-proof trail time-stamp block sequence that governs distributed patient information across the decentralized discrete HISs. HealthyBlockchain connects patients, clinicians, and healthcare providers to facilitate a transparent, trustworthy, and secure supporting platform.

Yuyan Zhou, Yana Zhou, Yana Zhou, Yana Zhou

As an important part of China's national economy, small and medium-sized enterprises (SMEs) play an important role in promoting China's economic growth, expanding jobs and increasing national tax revenue. However, due to the small scale of SMEs, low level of credit, lack of collateral, they are often plagued by narrow financing channels, financing difficulties and expensive financing, so a new technology is urgently needed to solve the current financing plight of SMEs. In recent years, block chain technology has attracted wide attention worldwide due to its decentralized and trustfree technical mechanism, and has become another new thing that can be popularized and applied on a global scale after the Internet. In this paper, "block chain" and "finance" are perfectly combined, aiming to use the properties of decentralization, immutability and traceability of block chain technology to improve the credit level of small and medium-sized enterprises and expand their financing channels. It is expected to effectively solve the financing difficulties of small and medium-sized enterprises, promote the sustainable and healthy development of small and medium-sized enterprises, and make greater contributions to the national economic growth.

Moutaz Haddara, Julie Norveel, M. Langseth

This paper surveys the current status of blockchain technologies integration and its potentials with enterprise systems’ (ES). The blockchain technology has received substantial attention since the recent cryptocurrency-boom. The corporate world seeks to stay on the blockchain-train by exploring how they can benefit from the evolving technology and platforms. Hence, this research explores the capabilities and potentials of blockchain technology illustrated in the extant literature and investigates how it can reinforce, and be integrated with enterprise systems through semi-structured interviews with subject matter experts. The literature and collected data were classified into four components of blockchain technologies; identity, assets, logistics, and transactions. Our main findings suggest that there is scarce literature on blockchain integration with ES. Nevertheless, there is a huge potential for this integration, specifically on the transactions, identity, and logistics dimensions. In addition, our interview results suggest that blockchains can reinforce ES by accomplishing a single source of truth, and a common environment for shared information amongst a larger scope of actors and organizations.

John Silberholz, Di Wu

No abstract is available for this record.

Jianli Luo, Yidan Hu, Yanhu Bai

As one of the disruptive technologies in the fourth industrial revolution, Blockchain has irrevocably changed how people live and work. Many scholars have studied the Blockchain, and the number of related publications has increased over time. Bibliometrics is an excellent method to study the development trend of a specific field. However, few scholars have used bibliometrics to research Blockchain; the inheritance and evolution among its different research themes have not yet been fully understood. This study emphasizes the scientific evolution and research focus of Blockchain through bibliometric analysis. We analyzed 2993 publications from 2014 to 2020 using co-word analysis and cluster analysis with bibliometric tools such as the SciMAT. The most productive author, country, institutions and leading research areas were identified, outlining the Blockchain field's fundamental developments. The results show the changes in keywords regarding Blockchain summarize the research hotspots in different periods. The study discusses the evolution process of various themes in each period, providing a meaningful reference for scholars to identify research hotspots and future research directions in the Blockchain field.

Chung-Lien Pan, Zizhen Chen, Zhi-Xiang Zhou, Zhuocheng Cai · 6 authors

In the era of the rapid development of information technology, the innovation of Fintech continues to send emerging research hotspots to the financial market. Based on the analysis of documents retrieved from the Web of Science database, this article provides a comprehensive data analysis and visualization of keywords such as “blockchain”, “bitcoin”, and “business and economic”. Using big data analysis technology and visual presentation, the author analyzed the details of the author’s keywords, popular organizations, countries, sources, and other key points of the correlation and external development status. Show the researchers the influence of the intersection of keywords, and point out the leading status of the organizations or countries with large resource occupancy in the research progress; at the same time, provide the researchers with an accurate grasp of the direction of the field and provide a reliable basis.

Daniel Beverungen, Sebastian Overhage, Albert Gorlick', Pascal Moerchel · 5 authors

A blockchain features an immutable, encrypted, and distributed ledger that enables transactions even if trust and trusted intermediaries are absent. Despite research on their technological properties, few papers are on record to demonstrate (a) what business scenarios blockchains can enable and (b) under which circumstances they outperform rival technologies. This shortfall of design knowledge obscures blockchains’ value proposition, its conceptual limitations, and its positioning towards rival classes of IT artifacts. We set out to design a blockchain-based IS that enables pay-per-use business models for industrial equipment—a business model that suffers from high transaction costs and complex agency dilemma caused by asymmetric information. We demonstrate how smart contracts deployed in a blockchain can level these information asymmetries. However, we also find that blockchains will only outperform rival technologies if the business scenario fulfils a set of specific properties, narrowing down the scope of application scenarios for applying blockchains substantially.

Yushi Chen, Ulrich Volz

Summary Motivation Most low‐ and middle‐income countries face an urgent need to scale up sustainable finance for low‐carbon and climate‐resilient infrastructure investment, yet underdeveloped capital markets tend to inhibit domestic resource mobilization for infrastructure investment. At the same time, domestic savers face a scarcity of “safe” local‐currency assets, resulting in the export of capital. Purpose This article explores options for mobilizing domestic savings through financial technology (fintech) solutions to scale up sustainable investment. Methods and approach The article discusses how fintech can help to complement conventional capital markets and mobilize financial resources for sustainable infrastructure investments. Findings The article puts forward a proposal for blockchain‐based project bonds to raise finance through a digital crowdfunding platform which is able to record transparently and certify the use of proceeds, sustainability impact, and revenue streams of projects by combining timestamp, public and private key mechanisms, and smart contract technologies. Policy implications The proposed approach would not only provide investors of different sizes with the opportunity to purchase local‐currency assets and issuers such as municipalities to raise funds for sustainable infrastructure investment, it would also facilitate project management once the project is operational, for example through metering and billing, and create full transparency over the life cycle of the investment, reducing problems concerning the misuse of funds.

Ziqi Ai, Zeyu Yao

With the rapid development of contemporary technology, people are not only satisfied with the economic benefits brought by the traditional financial industry. In 2009, a currency incorporating blockchain Bitcoin was born, thus kicking off the cryptocurrency trend. In this paper, the historical development and status of the cryptocurrency market will be discussed first, including an introduction to the cryptocurrency market as a whole and a detailed description of the major currencies. Secondly, it discusses the various cryptocurrency disruptions in the year 2021, with musk as the key opinion leading the cryptocurrency price trends. Then, it analyzes the factors that affect the value of cryptocurrencies, including supply and demand, public perception and relationship with other currencies, and the value of cryptocurrency investments and future price trends. The regulation of cryptocurrencies is also reviewed. Policies from different countries is firstly discussed, and following this article talks about the impact of different regulation policies on the cryptocurrency market. The prediction for the future regulation tendency is also included. In addition, this study focuses on the case of the Republic of El Salvador's adoption of bitcoin as legal tender, feasibility, risks, and advantages and disadvantages of bitcoin as legal tender.

Bryane Michael

No abstract is available for this record.

Federico Costantini, Bálint Ferencz, Szabolcs Nagypál

“Smart Contracts” are tools based on distributed ledger technologies deployed in order to increase the efficiency of transactions. Their adoption is growing at an exponential scale due to the undisputable advantages brought by their property of self-executing tasks, yet on the opposite it raises concerns since it does not require any sort of moral scrutiny. In our paper we first address how the current ethical discussion can be framed in Decentralized Ledger Technologies, then we unfold the evolution in legal theory of a decentralized approach – epitomized by the motto “code is law” – finally we focus on “smart contracts” discussing the application of “engineering ethics” or the implementation of “ethical oracles”. At the end we conclude with a few remarks and some perspectives for future research.

Saori Costa, Allyson Allex Araújo, Jerffeson Souza

A adoção de blockchain e contratos inteligentes tem se demonstrado uma opção valiosa para organizações inovarem em seus sistemas de informação. Nesse sentido, presencia-se também uma adesão ao desenvolvimento open source por parte dos envolvidos em tal ecossistema de soluções, especialmente com base na plataforma Ethereum e no uso do GitHub. Porém, apesar da presença de pesquisas prévias com foco na manutenção de contratos inteligentes, constata-se uma lacuna de pesquisa quanto 1) a análise do efeito que o processo de deploy na Ethereum exerce sobre os projetos open source em termos colaborativos e 2) na compreensão sobre o que efetivamente mudou nos repositórios após tal processo. Como fruto de uma pesquisa em andamento, este artigo contribui ao discutir um desenho de pesquisa exploratório pautado em Mineração em Repositórios de Software para compreender o efeito do processo de deploy na Ethereum em repositórios open source de contratos inteligentes.