Cryptocurrencies are digital assets desig ned to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. In the past few years there is a growing number of cryptocurrencies like Bitcoin, Ethereum, Ripple, etc. In my paper and presentation I would like to present the difficulties of the legal classification of cryptocurrencies. Countries all over the world have different solutions to this question. It is not written in stone whether cryptocurrencies should be considered a currency, a commodity, or an investment. In my study I examine each of these possibilities.
In today's digital information age, the conflict between the public's growing awareness of their own data protection and the data owners' inability to obtain data ownership has become increasingly prominent. The emergence of blockchain provides a new direction for data protection and data tokenization. Nonetheless, existing cryptocurrencies such as Bitcoin using Proof-of-Work are particularly energy intensive. On the other hand, classical protocols such as Byzantine agreement do not work efficiently in an open environment. Therefore, in this paper, we propose a permission-less blockchain with a novel double-DAG (directed acyclic graph) architecture called DLattice, where each account has its own Account-DAG and all accounts make up a greater Node-DAG structure. DLattice parallelizes the growth of each account's Account-DAG, each of which is not influenced by other accounts' irrelevant transactions. DLattice uses a new DPoS-BA-DAG(PANDA) protocol to reach consensus among users only when the forks are observed. Based on proposed DLattice, we introduce a process of data tokenization, including data assembling, data anchoring, and data authorization. We implement DLattice and evaluate its performance on 25 ECS virtual machines, simulating up to 500 nodes. The experimental results show that DLattice reaches a consensus in 10 seconds, achieves desired throughput, and incurs almost no penalty for scaling to more users.
As a foundational technology, blockchain technology creates the infrastructure for decentralized networked governance that, over time, creates the environment which enables the removal of internal and external monitoring mechanisms previously necessitated by agency problems in corporate governance. Blockchain technology facilitates a substantial increase in efficiency in the agency relationship and lowers agency costs in orders of magnitude.
Nam Yong Lee, Jinhong Yang, Md. Mehedi Hassan Onik, Chul‐Soo Kim
The immutability of the blockchain technology facilitates it to establish a general consensus in a trustless environment, enabling a wide range of new applications, including distributed general-purpose data management and digital data sharing marketplace. This immutability, however, presents disadvantages for the blockchain technology, when it is used in other areas where the modification of data in blockchain is demanded. In this study, we propose a method for building modifiable blockchains in decentralized public network. To be specific, in computing the hash value of the block, the proposed method uses truncated hash values (these are called ‘target values’ in this paper) of the transactions that are modifiable upon future requests, instead of transactions themselves. By doing so, the proposed method provides an opportunity to modify those transactions by making truncated hash values of modified versions equal to their original target values. The proposed method uses several cryptographic techniques to prevent the modification of the transaction from being performed for malicious purposes, and a multichain structure to improve the efficiency in transaction modification. By accommodating the modification feature to the blockchain, proposed architecture complies to key demands of the data protection regulations such as ‘right to rectification’, ‘right to withdraw consent’, and ‘right to be forgotten’, et cetera. In addition, detailed threat analysis demonstrates that the proposed truncated hash-based modification is sufficiently secure to open up a wide range of new blockchain based services through added modifiability feature.
Open access
Blockchain Technology Applications and Security
Advanced Steganography and Watermarking Techniques
The article deals with questions about the rules of effective, efficient and rational management through the results of marketing communications of administrative units of local self-government. The authors point to the Polish experience in this area with regard to systemic transformation since 1990, based on the decentralization of power and the effective dismissal of social potential, by focusing marketing communications of local governments on activating citizens to take action and ensure citizens' responsibility for the environment. These changes set new tasks for local governments, the proper implementation of which should be based on the implementation of management through the results that can be identified in local government bodies as a process of setting measurable goals for the administration responsible for specific public tasks. implementation of the mechanism of continuous monitoring of these goals, as well as the adaptation mechanism in the context of changes in the internal and external conditions of the organization and informing the public about the results achieved. The results management is based on modern tools used in public finance management, that is, budget execution and management. In order to improve the activities of local self-government bodies, the authors offer lifelong learning in the form of short forms of support (training, courses, seminars) in the process of non-formal learning, taking into account the educational prerequisites for sustainable development. The authors recommend short forms of acquiring new competencies required by the changing environment, challenges related to technological changes and increasing efficiency of market institutions (enterprises), indicating that non-formal education in the field of results management, combining economic, social and ecological aspects is an indispensable element improving the staff of local government administration, aimed at the proper implementation of statutory tasks and competent service of the local community while at the same time rational and effective use of public funds, and thus an essential element of sustainable city management. New management tools implementation combined with the education process can be treated as organisational innovation.
Open access
Polish socio-economic development
Local Governance and Planning
Sustainable Development and Environmental Management
The purpose of this study was to analyze and understand the attitude of the millennial generation towards cryptocurrency. This topic of Cryptocurrency is in the growth stage and hence the understanding of the attitude of this generation shall be an addition to the current study available on cryptocurrencies. This dissertation will be beneficial to the upcoming or existing companies or offerers of cryptocurrency to estimate their future viability based on the millennial generation’s attitude. \nThe results were formed based on the data collected through interviews of eight millennials from different professional background but having awareness about cryptocurrency. The questionnaire was formed to collect data about knowledge, experience, trust, and other investment factors of the millennials towards cryptocurrency. The research aimed to analyze the data collected and conclude the overall attitude of millennial generation towards cryptocurrency. \nThis report focuses on the numerous factors and challenges that go into the decision-making process of the typical millennial investors. We can conclude that the millennials have positively accepted the concept of cryptocurrency but are doubtful when it comes to actual trading since they lack proper awareness and skills to do. But the experienced millennials have accepted it as a useful financial asset after. Thereby, the overall study on Cryptocurrency would help one to understand the merits and demerits of it in the present world along with the logical reasoning that has given a direction to the findings.
This present paper investigates day-of-the-week effect in some notable cryptocurrency in terms of pricing and market capitalizations. We applied fractional integration regression approach with dummies. We found non-significance of day-of-the-week effect in returns, while there is possible evidence of Monday and Friday effects in volatility of Bitcoin only. Non-significance of day-of-the-week effect in returns of Bitcoin and some other cryptocurrencies further support market efficiency of these markets.
Blockchain technology is one of the most widely acclaimed technologies of recent years. It enables the creation of distributed applications involving multiple actors or organizations in which transactions and data are not under the control of a central authority. Transactions are stored in a distributed public ledger in an immutable format in such a way that they can be verified by participants. This disintermediation promises to remove much of the “friction” (and lower costs) from distributed transactions by cutting out the intermediary party, thus enabling a variety of applications in finance, government, health, etc. This paper provides an overview of recent research in the application of blockchain technology to higher education for those who are interested in working in this area or just understanding how higher education may be positively impacted in the future by blockchain.
The subject of this paper is city municipalities, one of the forms of local government at the lowest level in cities. The process of urbanization, the expansion of cities and the emergence of new ones, creates the need for internal decentralization. Decentralization comes when there is a need and it is estimated that another, lower level of government will perform more efficiently certain jobs. Due to the large number of inhabitants and the growing territory, the big cities are often organized two-step. Municipalities are the result of decentralization and are part of the territorial organization of cities. Although they are not units of local self-government, they have their own administration and affairs delegated by the city government from its own competencies. The regulation of city municipalities, their jobs and the way of financing, as well as a review of comparative solutions in the region, are the main issues discussed in this paper.
У статті проведено аналіз основних характеристик біткоїна як першої криптовалюти, досліджено особливості подальшого розвитку ринку криптовалют та застосування технології блокчейн. Розглянуто динаміку капіталізації основних криптовалют та визначено лідери даного ринку за рівнем капіталізації
In the rapidly developing cyber sphere dominated by cryptocurrencies and code, it is perhaps not uncommon for firms to focus on cutting-edge technological developments leaving the law behind as an ...
Despite calls for regulation in the crypto utility token market, it is unclear how crypto token investors value current regulatory proposals. We find that on average, investors react negatively to news that increases the likelihood of securities and transparency-related regulation. We also find that this negative reaction is attenuated for tokens rated higher on quality and transparency by intermediaries, those that have higher levels of disclosure, and listed on more liquid exchanges. The observed variation in token transparency and this muted reaction suggest investors perceive disclosure costs to be lower for tokens in more transparent environments, suggesting that transparency matters to investors.