Mian Wasim Layaq, Alexander Goudz, Bernd Noche, Muhammad Atif
The main purpose of this paper is to investigate the research development in supply chain risk management (SCRM) and to connect the new emerging digital technology Blockchain that could help to mitigate risks in any supply chain. Emerging literature, case studies, citations are used to fulfil this the task. The study will explore Blockchain and supply chain risks in details and will compare, how Blockchain based supply chain can mitigate these risks. There are many risks associated to supply chains but we will limit our study to only supply risk and study different areas of Blockchain application in supply chain with supply risk. Blockchain technologies have a potential to upgrade current supply chains. This will not only increase its performance in terms of speedy flow of raw material, finished goods, information and money flow but also help to mitigate current risk in supply chain by increasing visibility and transparency of supply chain. Smart contracts, IoT and Blockchain can serve together to achieve maximum efficiency and effectiveness in SCM. This research contributes to explore further research fields of Blockchain technology in different areas of supply chain risk management.
The tax treatment of cryptocurrency forks presents four unique challenges: parent/child designation, taxpayer access to the new token, assessment of fair market value, and assessment of comparable contemporaneous fair market values. We provide empirical evidence that each of these issues is a hurdle in determining whether income has been realized, or in apportioning the basis. We consider three existing approaches for assets acquired without a purchase. We conclude that the least problematic approach (adopted by Japan) is giving zero tax basis to the new coin and taxing the proceeds upon a sale, while treating the new coin as realized income (as recently ruled in the US) is the most problematic.
The systematic integration of the Internet of Things (IoT) and Cyber-Physical Systems (CPS) into the supply chain to increase operational efficiency and quality has also introduced new complexities to the threat landscape. The myriad of sensors could increase data collection capabilities for businesses to facilitate process automation aided by Artificial Intelligence (AI) but without adopting an appropriate Security-by-Design framework, threat detection and response are destined to fail. The emerging concept of Smart Workplace incorporates many CPS (e.g. Robots and Drones) to execute tasks alongside Employees both of which can be exploited as Insider Threats. We introduce and discuss forensic-readiness, liability attribution and the ability to track moving Smart SPS Objects to support modern Digital Forensics and Incident Response (DFIR) within a defence-in-depth strategy. We present a framework to facilitate the tracking of object behaviour within Smart Controlled Business Environments (SCBE) to support resilience by enabling proactive insider threat detection. Several components of the framework were piloted in a company to discuss a real-life case study and demonstrate anomaly detection and the emerging of behavioural patterns according to objects' movement with relation to their job role, workspace position and nearest entry or exit. The empirical data was collected from a Bluetooth-based Proximity Monitoring Solution. Furthermore, a key strength of the framework is a federated Blockchain (BC) model to achieve forensic-readiness by establishing a digital Chain-of-Custody (CoC) and a collaborative environment for CPS to qualify as Digital Witnesses (DW) to support post-incident investigations.
Huge storage volume is one of the main bottlenecks for the development of blockchain, so how to release the burden by optimizing the storage mechanism has become an important problem. Most of the current solutions would modify the architecture of blockchain, which weakens the characteristics of the decentralization, such as cloud storage. In this paper, a storage optimization mechanism based on residual number system is proposed to reduce the storage volume on each node. In addition, the recovery procedure of CRT-II (The new Chinese Remainder Theorem) is used to detect garbled data from devil nodes, which enable the proposed storage mechanism with strong fault tolerance capability. Both theoretical analysis and simulation results prove the effectiveness and reliability of the proposed scheme.
A peer-to-peer network for conducting encrypted digital trade called cryptocurrency was created eight years ago. The first and most well-known cryptocurrency, Bitcoin, is leading the charge as a disruptive technology to decades-old, largely unaltered financial payment infrastructure. Although cryptocurrencies are unlikely to displace traditional fiat money, they might alter how Internet-connected global markets communicate with one another by removing restrictions imposed by conventional national currencies and exchange rates. Technology develops quickly, and the success of a particular technology is almost entirely determined by the market it attempts to better.
Käesolevas bakalaureusetöös tutvustatakse plokiahela tehnoloogiat, võrreldakse kahte erinevat platvormi, Ethereum ja Hyperledger Burrow, luukse kaks detsentraalsed rakendust ning viimasena analüüsitakse, kas on praktiline rakendada Hyperledger Burrow platvormi keerukamatele rakendustele nagu näiteks Caterpillar. Töö raames tutvustatakse plokiahela ja hajusraamatu tehnoloogiaid. Järgnevalt selgitatakse miks ja mis põhjustel antud tehnoloogiad võrdleva analüüsi tegemiseks valiti. Analüüs põhineb kahe näidisrakenduse võrdlemisel, näidates mis on peamised erinevused ja sarnasused Ethereum ja Hyperledger Burrow vahel.
Bitcoin is a tremendously debated phenomenon in the world of finance and in recent the scientific literature on the topic has expanded. In this thesis,the bitcoin to US dollar exchange rate is examined through various conditional variance models to describe its highly volatile nature. We examine whether the introduction of bitcoin futurescontractsin late 2017 has had a decreasing impact on price volatility by estimatingthe unconditional variance. The log-return of the bitcoin exchange rate is analysed,and there is evidence of volatility clustering and time-varying volatility. Consequently, the variance is modelled through the GARCH(1,1), EGARCH(1,1) and GJR-GARCH(1,1) modelswith innovations followingthree distributions. The in-sample selection method selectedthe EGARCH(1,1) model where innovation terms follow a generalizederror distribution as the most parsimonious model. The findings show that volatilityhas not decreased after the introduction of bitcoin futures on regulated exchanges. \nKeywords: Bitcoin, conditional variancemodelling, bitcoin futures, price volatility exchange rate, statistical analysis
Virtual Currencies are becoming popular these days in Pakistan like other countries. These currencies have no physical value, no intrinsic value & no central control. It has only the unique feature is easy to use, control by block chain network. It is not common in Pakistan due to less publicity. This research paper discusses the popularity of Bitcoin in Pakistan and its impact on Economy. Risk and Return related to virtual currency. The price determinants of Bitcoin and exchange rate. Key w ords : Bitcoin, Risk & Return, Virtual Currency. DOI : 10.7176/RJFA/10-7-02 Publication date : April 30 th 2019
Security Token Offerings (STOs) are a very recent phenomenon that has started to replace the Initial Coin Offering (ICO) one for financing companies through blockchain networks. Contrary to ICOs, which are based on “utility tokens”, STOs issue “security tokens” that are likely to achieve revenues in the same way that bonds or shares do. However, because they utilize the blockchain network, they are expected to benefit from lower intermediary and transaction costs. The objective of this paper is to examine, for the first time in financial research, to what extent this nascent market can become a liquid one, adapted for small and medium-sized enterprises (SMEs). To address this still unexplored issue, we proceed in two stages. First, we develop the technical characteristics of security tokens. Then, we analyze the trading volumes of a very few ones, although it has proved difficult to conduct a relevant empirical analysis. Our results are that, as for ICOs, the technical nature of security tokens can greatly facilitate their listing and exchange. However, there are significant disparities in their use and, for the moment, most of them remain locked in the wallet of so-called accredited investors. As a result, the potential of the blockchain-based equity market is still uncertain: STOs are likely to represent a growing and liquid alternative to IPOs, private equity and crowd funding to finance SMEs. Nevertheless, the liquidity of their digital assets strongly depends on the quality of their issuers and on the existence of specialized trading platforms.
Blockchain frameworks enable the immutable storage of data. A still open practical question is the so called "oracle" problem, i.e. the way how real world data is actually transferred into and out of a blockchain while preserving its integrity. We present a case study that demonstrates how to use an existing industrial strength secure element for cryptographic software protection (Wibu CmDongle / the "dongle") to function as such a hardware-based oracle for the Hyperledger blockchain framework. Our scenario is that of a dentist having leased a 3D printer. This printer is initially supplied with an amount of x printing units. With each print action the local unit counter on the attached dongle is decreased and in parallel a unit counter is maintained in the Hyperledger-based blockchain. Once a threshold is met, the printer will stop working (by means of the cryptographically protected invocation of the local print method). The blockchain is configured in such a way that chaincode is executed to increase the units again automatically (and essentially trigger any payment processes). Once this has happened, the new unit counter value will be passed from the blockchain to the local dongle and thus allow for further execution of print jobs.
In general, the construction industry has been pretty resistant to change. While most industries have gained in productivity over the years through implementation of new technologies and other factors, construction industry productivity has been on a steady decline since the 1960s. Even though there are a multitude of reasons for this, including more complex building types and a decline in the workforce, the major problem holding construction back are project management issues and alienation of project stakeholders in the construction process. Some improvements have been made to help with collaboration between parties, like BIM (building information modeling) and project management software like Procore and Plangrid, but there isn’t one application that pools information to share data between parties. This is where blockchain can make a difference and help solve the collaboration problem. Blockchain is a peer-to-peer, controlled, distributed transactional database used to record and store lists of transactions (called blocks) that are verified through cryptography. This paper explores the emergence of blockchain, highlights the progressive companies implementing this technology in construction, and analyzes the best practices and applications needed for blockchain to succeed in the construction industry.
Land has always been an indispensable element in farmers’ production activities, and it is the root of farmers' survival. Under the background of rural revitalization, land transfer has become an important means of boosting rural revitalization. In the process of implementing the rural revitalization strategy, how to effectively solve the problems in rural land transfer, such as fragmentation, decentralization, low utilization rate, breach of contracts and difficult financing, is an important aspect of promoting rural modernization. In this paper, the literature on land transfer at home and abroad is sorted out, the current research status and the problems of land transfer under the background of rural revitalization are summarized and consolidated, and corresponding solutions and prospects are put forward. This is of practical significance to further study the land transfer under the background of rural revitalization in China.
Urban public finance is a hidden force shaping cities and their development. This thesis draws attention to the powerful insights which can be gained from studying cities through a fiscal lens. It argues for an interdisciplinary and relational approach which infuses the fiscal study of cities with political and social interpretations of urban dynamics. Accounting for the city through two very different registers, this thesis draws from urban public finance and from critical scholarship on urban infrastructure. The conventional urban public finance literature is largely technical, produced by urban policy and fiscal experts. In contrast, social and political theorization on urban infrastructure provides a critical reading of the technicist approach and contributes to the refinement of key theoretical concepts within urban studies. There are many incommensurabilities between these two scholarly registers. They have different framings of politics, technical knowledge, and the priorities for change. However, there are several shared interests. They are both concerned with urban institutions, urban places, and the necessity for change. These shared interests provide the foundation for a revised approach to the fiscal study of cities. This synthetic approach is spelled out in a series of conceptual and methodological propositions. The first proposition is the device of the C/city, which distinguishes between an urban settlement (the small ccity) and its governing authorities (the big-C City). The C/city device foregrounds the importance of the city, the City, and the fiscal relationships which operate at the intersections between them. The second proposition frames urban public finance not just as a means of financing urban infrastructure but as an infrastructure itself. Drawing from the infrastructure scholarship, the concept of 'configurations’ is deployed creatively to trace fiscal histories, instruments, and relationships. The third proposition is the importance of grounding inquiry in particular places. To address this, the case study method is used. The case method allows for the use of a variety of types of data and analytical tools, grounded in contextualized experiences. The fourth proposition presents Kisumu, a secondary city in Kenya, as an exemplary case for exploring fiscal C/city configurations. Kisumu provides a useful case for wider generalization precisely because it is an ordinary (African) city. Not only is Kisumu on the margins of Western theorization, its unsensational nature also excludes it from dominant discourses on African cities. However, historically, administratively, and politically, Kisumu has many parallels with smaller urban centers in British East Africa and beyond. It provides a fascinating and widely relevant case of the differentiated nature of fiscal decentralization processes and dynamics. There is much which can be learned from Kisumu and its fiscal story. The bulk of this thesis is dedicated to unpacking the Kisumu case. First, there is a focus on the City. This includes tracing the historical development of Kisumu’s urban institutions and unpacking the ways in which the contemporary City shapes and is shaped by public finance. This is followed by a deeper exploration of particular city infrastructures and their fiscal configurations. The fiscal configurations related to property rates, the corporatized water utility company, and transport finance are traced and exposed. The Kisumu case provides a series of valuable insights. First, it demonstrates the potential and limitations of conventional fiscal analysis. The limitations posed by accounting are particularly important in the context of Kisumu, where the C/city has many misalignments. Second, it makes the case for reading public finance as an urban infrastructure. The process of tracing fiscal configurations illuminates the social, political, material and technical dimensions of public finance. Third, it draws attention to the de facto challenges and complexities related to decentralization (and in fact, the unique recentralization which Kenya has undergone). This includes how the sub-national urban state is constructed and deconstructed, over time and in complex ways. Fourth, it foregrounds the fiscal functionaries whose practices shape the everyday operations of the public finance system. These actors shape fiscal configurations. However, they are often hidden in conventional fiscal analyses. Fifth, it reads the practices of fiscal functionaries as a micro-politics of the state. The heterogeneity of the state and multidimensional nature of power are foregrounded. Finally, the case highlights the challenge of urban infrastructure finance in the context of a post-networked city. It shows the necessity of moving beyond common academic and policy tropes related to infrastructure and services. Collectively, these insights provide a compelling case for urban studies to more deeply engage with the fiscal C/city, in Africa and beyond.
Smart contracts are computer programs stored in blockchain which \nopen a wide range of applications but also raise some important issues. When we \nconvert traditional legal contracts written in natural language into smart contracts \nwritten in lines of code, problems will arise. Translation errors will exist in the \nprocess of conversion since the law in natural language is ambiguous and imprecise, \nfull of conflicts, and the emergence of new evidence may influence the processing \nof reasoning. This research project has three purposes: the first aims at \nthe resolution of these problems from logic and technical perspective to develop \nthe accuracy and human-readability of smart contracts, by exploring a more novel \nand advanced logic-based language to represent legal contracts, and analyzing an \nextended argumentation framework with rich expressiveness; the second purpose \nis to investigate various existing technologies like Akoma Ntoso and Legal- \nRuleML, making the legal knowledge and reasoning machine-readable and be \nlinked with the real world; third, to investigate the implementation of a mature \nmulti-agent system incorporating the software agents with sensing, inferring, \nlearning, decision-making and social abilities that can be fitted onto DLTs.
ABSTRACT: Cryptocurrency, is it just a trend or is it the future of assets? It is a hot topic of conversation among individuals, as well as within companies. This paper will provide an overview of Cryptocurrency as well as discuss its inception, the current state, and the future outlook. As well, the paper will look at negative, neutral, and positive perceptions of Cryptocurrency from the perspective of individuals and organizations. The discussion will also look into Bitcoin, Ethereum, and Ripple, revealing how they differ from each other, even though all three are based on Blockchain Technology. Another section of the paper examines the comparison of Cryptocurrency to other assets. It will examine whether Cryptocurrency is similar to a monetary currency, such as the US Dollar, similar to common stock, such as shares in a public company or similar to money metals, such as Gold and Silver. These assets are all subject to market fluctuations, just like Cryptocurrency. KEYWORDS: Cryptocurrency, Bitcoin, Ethereum, Ripple, Blockchain Technology, Satoshi Nakamoto
Торжевский КРИПТОВАЛЮТА КАК ИНСТИТУТ ЦИФРОВОЙ ЭКОНОМИКИВ статье рассматривается роль криптовалюты (и в частности биткоина -BTC) в процессе перехода к информационному обществу и цифровой экономике через призму трансформации социально-экономических институтов.Анализируется влияние BTC на основные институты общественного развития: института денежного обращения, посреднический, трансмиссионный, накопительный и др
Blockchain technology has attracted a lot of attention in the previous years as a secure way to protect transactions in different processes. It has been particularly used to define cryptocurrencies. While inherently secure against classical single node attacks, the blockchain cryptocurrencies have recently been subject to attacks by malwares able to capture a single user wallet and its included keys. In this work we propose the use of biometric cryptosystems to control the access to the wallets on single machines. After a brief description of the blockchain, the cryptocurrencies and the possible attacks, the paper describes the use of convolutional neural network face recognition as a tool to extract biometric features that help in a key binding approach to protect the personal data in the wallet. Experiments have been conducted on three independent face datasets and the results obtained are satisfactory. The equal error rate between false acceptance and false rejection is negligible when testing on images from the same dataset used for the training of the convolutional neural network. This generalizes well when experimenting on two other independent datasets. These results prove that face cryptosystems can be used to protect the access on sensitive data existing in the wallets of many cryptocurrencies.
Patrick Anderson Matias Araújo, Eder Ahmad Charaf Eddine
O presente artigo estabelece uma metodologia de consulta na plataforma de divulgação científica, SciELO sobre bitcoin e blockchain. O objetivo do trabalho é analisar a moeda virtual e a tecnologia blockchain. Foram encontrados quatro artigos na plataforma, o que favorecerá a análise de todos os trabalhos encontrados. Os objetivos dessa verificação são, no primeiro momento, verificar quais abordagens as ferramentas recebem em textos acadêmicos; e, em segundo, situar as ferramentas nas abordagens acadêmicas aqui no Brasil. Esses dois objetivos servirão para analisar de que maneira as ferramentas têm sido avaliadas pela comunidade acadêmico-cientifica e, assim, discutir possíveis justificativas para tais abordagens
Blockchain, well-known as the Distributed Ledger Technology (DLT) behind cryptocurrencies such as Bitcoin, has attracted plenty of attention from both practitioners and academics and has begun to revolutionize the way businesses handle their day-to-day operations. DLT leads to many interesting new research topics in different business fields. In this study, we applied the systematic mapping method to review existing articles related to blockchain applications and research in different business areas (accounting, finance and banking, information systems, marketing and supply chain). Our goal is to understand the current applications and research status related to blockchain, so that we can identify research gaps and better directions for future research. Following the recommended steps of the systematic mapping method, we extracted fifty primary papers from several scientific databases. Our findings suggest that despite the attention received, blockchain research still has a long way to go. Several future research directions are discussed.