Yan Zhuang, Yin-Wu Chen, Zon‐Yin Shae, Chi‐Ren Shyu
BACKGROUND Data coordination across multiple health care facilities has become increasingly important for many emerging health care applications. Distrust has been recognized as a key barrier to the success of such applications. Leveraging blockchain technology could provide potential solutions tobuild trust between data providers and receivers by taking advantage of blockchain properties such as security, immutability, anonymity, decentralization, and smart contracts. Many health technologies have empirically proven that blockchain designs fit well with the needs of health care applications with certain degrees of success. However, there is a lack of robust architecture to provide a practical framework for developers to implement applications and test the performance of stability, efficiency, and scalability using standard blockchain designs. A generalized blockchain model is needed for the health care community to adopt blockchain technology and develop applications in a timely fashion. OBJECTIVE This study aimed at building a generalized blockchain architecture that provides data coordination functions, including data requests, permission granting, data exchange, and usage tracking, for a wide spectrum of health care application developments. METHODS An augmented, 3-layered blockchain architecture was built on a private blockchain network. The 3 layers, from bottom to top, are as follows: (1) incorporation of fundamental blockchain settings and smart contract design for data collection; (2) interactions between the blockchain and health care application development environment using Node.js and web3.js; and (3) a flexible development platform that supports web technologies such as HTML, https, and various programing languages. Two example applications, health information exchange (HIE) and clinical trial recruitment, were developed in our design to demonstrate the feasibility of the layered architecture. Case studies were conducted to test the performance in terms of stability, efficiency, and scalability of the blockchain system. RESULTS A total of 331,142 simulated HIE requests from accounts of 40,000 patients were successfully validated through this layered blockchain architecture with an average exchange time of 11.271 (SD 2.208) seconds. We also simulated a clinical trial recruitment scenario with the same set of patients and various recruitment criteria to match potential subjects using the same architecture. Potential subjects successfully received the clinical trial recruitment information and granted permission to the trial sponsors to access their health records with an average time of 3.07 seconds. CONCLUSIONS This study proposes a generalized layered blockchain architecture that offers health technology community blockchain features for application development without requiring developers to have extensive experience with blockchain technology. The case studies tested the performance of our design and empirically proved the feasibility of the architecture in 2 relevant health application domains.
We propose BSC, a Bitcoin Smart Contract implementation. It integrates the functionality of smart contracts into the Bitcoin system, giving developers the ability to build decentralized applications on Bitcoin. BSC will require a new hard fork, on which Bitcoin holders can use their existing funds directly. BSC combines the unlimited creative space of smart contracts and the vast network effect of Bitcoin, which will bring even more possibilities to the cryptocurrency world.
This paper presents a qualitative study that examine the perception of users on Islamic approach toward \npurification of transaction with cryptocurrency. Bitcoin is has been used as a case study which is one of the \ntype of cryptocurrency. There are huge discrepancies from many Islamic school of thought about \ntransaction with bitcoin. Specifically, some school of thought viewed it as a tool used for illegal purposes \nand that the global public already uses Bitcoin mostly for illegal and non-Shari’ah-compliant purposes \nunder Islamic perceptions. As a result, this study developed an interview-qualitative research approach in \norder to examine how the negative perceptions of cryptocurrency from Islamic views cnd be purify. Sample \nof Eight informant were used in the study. The finding of this study indicated that the use of cryptocurrency \nas a legitimate as any payment method. It is also argued that it facilitated transactions and cut the normal \ncost of international money transfer, and some Muslim countries are actively encouraging the use of \ncryptocurrency due to its easy use and transparency. This has been also supported by “hadith”. Finally, the \nanalysis also confirmed that from the Shari'ah point of view, cryptocurrencies are as compliant as fiat \nmoney and ought to be accepted as another mode of payment that can be used in transaction as its value can \nbe measured and quantified. Therefore, this study has contributed in understanding the Islamic views \nbehind the implementation of cryptocurrency.
Anti-forgery information, transaction verification, and smart contract are functionalities of blockchain technology that can change the traditional business processes of IT applications. These functionalities increase the data transparency, and trust of users in the new application models, thus resolving many different social problems today. In this work, we take all the advantages of this technology to build a blockchain-based authentication system (called the Vietnamese Educational Certification blockchain, which stands for VECefblock) to deal with the delimitation of fake certificate issues in Vietnam. In this direction, firstly, we categorize and analyze blockchain research and application trends to make out our contributions in this domain. Our motivating factor is to curb fake certificates in Vietnam by applying the suitability of blockchain technology to the problem domain. This study proposed some blockchain-based application development principles in order to build a step by step VECefblock with the following procedures: designing overall architecture along with business processes, data mapping structure and implementing the decentralized application that can meet the specific Vietnamese requirements. To test system functionalities, we used Hyperledger Fabric as a blockchain platform that is deployed on the Amazon EC2 cloud. Through performance evaluations, we proved the operability of VECefblock in the practical deployment environment. This experiment also shows the feasibility of our proposal, thus promoting the application of blockchain technology to deal with social problems in general as well as certificate management in Vietnam.
Financial Technology (FinTech) has transformed Capital Markets, Payments, Lending and Risk Management through faster processing of financial decisions in real-time and expanding access to financial services digitally. Beneath these user-friendly applications, FinTech platforms rely on foundational Data Structures and Algorithms to provide consistent Latency, Scalable Throughput, Auditing capabilities, and Resilience under adversarial conditions. The purpose of this paper is to review which core Data Structures (Arrays, Linked Lists, Hash Tables, Balanced Trees, Heaps and Graphs) are used to support key FinTech Workload applications (Algorithmic Trading, Fraud Detection, Credit Risk Assessment and Blockchain-based Recordkeeping). In addition, this paper will review the Algorithmic Foundations used to enable common tasks across all these workload applications including Sorting/Searching, Optimization, Statistical Learning and Cryptography, and how Asymptotic Complexity must be evaluated with respect to practical system constraints including Caching Behavior, Concurrency and Failure Modes. There is evidence from the academic literature that Algorithmic Trading can increase liquidity in certain Market Structures while also introducing Systemic Fragility during Stress [1],[2],[3]. And, similarly, there is evidence that Fraud Detection is an inherently adversarial domain where Models and Features must evolve as Attacker Behavior evolves [4],[5]. Lastly, the Paper will discuss several open challenges associated with Scale, Security, Model Governance and Privacy; and evaluate Future-Facing Directions such as Privacy-Preserving Analytics (Federated Learning and Zero-Knowledge Proofs) and Cryptographic Agility to prepare for post-Quantum risk.
We analyse the determinants of success for 630 ICOs undertaken from August 2015 up until the end of December 2017, a period in which the market for ICOs grew to an unprecented level. We find evidence that ICOs are more successful in raising funding when they disclose more information to investors (i.e. have a higher profile rating), have a higher quality rating by cryptocurrency experts, have a pre-ICO GitHub repository, organise a presale, refrain from offering bonus schemes, have shorter planned token sale durations and have a larger project team. ICOs that disclose more information to investors and that have a higher quality rating at the time of the campaign show stronger ex-post performance. Longer-term project success is positively impacted by having a pre-ICO GitHub repository, a shorter planned token sale duration and having a larger project team at the time of the ICO, although these results depend on the ex-post success measure used. We conclude that for entrepreneurs it is important to make an ICO as transparent as possible and that profile and expert ratings are a valuable means to overcome the information asymmetry problems associated with token sales.
Blockchain technology and artificial intelligence (AI) are current hot topics\nin research and practice. However, the potentials of their combination have\nbeen studied just recently to a larger extend. While different use cases for\ncombining AI and blockchain have been discussed, the idea of enabling\nblockchain-based smart contracts to perform "smarter" decisions by using AI or\nmachine learning (ML) models has only been considered on the conceptual level\nso far. It remained open, how such AI-enabled smart contracts could be\nimplemented in a robust way for real-world applications. Therefore, in this\npaper a new, enterprise-class implementation of AI-enabled smart contracts is\npresented and first insights regarding its feasibility are discussed.\n
There is A finite amount of portable water which is decreasing day by day. Rapid degradation of useful water on earth results in an unkind impact on livelihood. In future, people may have to face (DAY 0) problem therefore, conservation of water is essential. A solution has been proposed to this problem that is “decentralized water management system” using blockchain technology. Blockchain technology can help to use water more efficiently so that every household can lend/borrow the required/extra water from its peer household in the network. In this research work, water ledger architecture has been proposed. This architecture can serve as the basis for Blockchain implementation which can help inbuilding transparency in the water management system with the ultimate goal of Water Conservation. To purpose a system architecture that meets the “demand and supply” of all consumers in a peer-to-peer network so that water can be conserved. A smart contract has been written for transactions (P2P network of 10 household) using Ethereum as a platform. A web interface is created for consumers. Hence, the overall objective is to create a smart water management system for 10 households using blockchain technology to conserve water by medium of sharing water among peer-to-peer as per their needs.
Yaşam koşulları, ihtiyaçların değişimi, teknolojik gelişmeler ve finansal krizler paranın gelişiminde önemli rol oynamıştır. Literatürde, özellikle 2008 yılında yaşanan finansal kriz sonrasında Bitcoin kripto parasının doğduğu ifade edilmektedir. Satoshi Nakamoto tarafından geliştirilen eşler arası nakit sistemi, Bitcoin ile birlikte, kripto varlık, blokzincir ve dağıtılmış defter teknolojisi kavramlarının da gündeme gelmesine neden olmuştur. Günümüzde çok sayıda kripto varlığın mevcut olduğu, kripto varlıkların sayısında, türünde ve işlem hacimlerinde artış olduğu gözlenmektedir. Bu genişleme beraberinde Bitcoin ve diğer kripto varlıkların muhasebeleştirilmesi konusunu da gündeme getirmiştir. Bu çalışmada kripto varlıklar, kripto varlıkların çeşitleri, temini ve mevcut durumu hakkında bilgi verilmeye, IASB tarafından kamuoyunun görüşüne sunulan kripto paraların muhasebeleştirilmesine ilişkin geçici gündem kararı incelenmeye, kripto para dışındaki diğer kripto varlıkların muhasebeleştirilmesi incelenmeye çalışılmıştır. IASB kripto paraların satılmak için elde tutulması durumunda IAS 2 Stoklar Standardı kapsamında, diğer hallerde IAS 38 Maddi Olmayan Duran Varlık Standardı kapsamında değerlendireceğine dair geçici karar bildirmiştir. Diğer taraftan, kripto para dışındaki kripto varlıkların muhasebeleştirilmesi için gerekli düzenlemelerin yapılması da önerilebilir.
Security of payment (SOP) issues still persist in the construction industry despite numerous investigations and incremental reforms. Various solutions and policies have been proposed and analysed in-depth in previous studies. However, limited studies have focused on the integration of advanced technologies to address SOP issues. The aim of this research is to develop a comprehensive framework that integrates practical advanced technologies to address SOP issues in the construction industry. A concurrent mixed-method design was adopted to (a) identify the industry's perspective on what advanced technologies can be accepted to address SOP issues through a questionnaire survey, and (b) identify the use of advanced technologies through a live construction project as a case study. Subsequently, a data flow diagram framework was developed to articulate the whole process flow of how the system delivers automatic payments to subcontractors upon the completion of their contractual obligations and work done. This research contributes new and practical insights into the application and integration of smart sensors, oracles, BIM, blockchain technology and smart contracts in addressing SOP issues in the construction industry.
Blockchain enabled digital scarcity has opened up a whole new dimension of possibilities for the token economy, particularly with regards to rights and assets that have not been traded electronically before. Blockchain based tokenization of rights and assets has also brought a new set of legal and regulatory challenges. Regulators and legislators are yet to address many of the issues raised by blockchain based tokenization, from decentralisation and token characterisation to cross border harmonisation and regulatory compliance with traditional market infrastructure. Lack of regulatory alignment can undermine many of the benefits of the token economy. Lack of legal certainty may not only stifle innovation and slow down mainstream adoption of blockchain based tokenization, but can also raise the risks for investors and harm the reputation of the industry. The emerging regulations vary in approach. Liechtenstein became the first country to have comprehensive technology-neutral regulation of the token economy. Malta and Singapore also represent progressive jurisdictions for blockchain regulation. However, most jurisdictions, including the US and the EU, have not yet formed clear policy for blockchain regulation and many legal questions remain open. The paper examines whether there is an emerging predominant regulatory approach or prevailing regulatory direction for the future of the token economy. It also highlights the existing regulatory void and divergent approaches to blockchain based tokenization. Finally, the paper concludes that there is an urgent need to provide a clear legal and regulatory framework if the potential of the token economy is to be realised.
Crowdfunding is an innovative way of financing projects that allows anyone to contribute money online and support various initiatives, such as businesses, causes, or solutions. However, traditional crowdfunding platforms face some challenges, such as lack of transparency and security, high fees, and limited control over the funds by the contributors and the project owners. Blockchain technology, which is a P2P, decentralized ledger, which is distributed can offer a more reliable, secure, and transparent solution for crowdfunding. Blockchain-based crowdfunding can leverage smart contracts, which are self-executing agreements that encode the rules and conditions of the funding process and ensure that the funds are released only when the predefined criteria are met. This paper aims to propose a concept for designing efficient smart contracts for crowdfunding, which can enable both the contributors and the project owners to have more control and influence over the funds and the project outcomes. Unlike the existing literature-based ideas, our proposed method not only allows the contributors to invest their own money, but also guarantees them that their token values will be preserved. This method can be integrated without disrupting the existing logic of the blockchain. The methodology provides higher control and transparency for all the parties involved in the crowdfunding process.
Traditional contracts are being replaced in an increasing number of instances by smart contracts that is, “decentralized agreements built in computer code and stored on a blockchain”, which are able to automatically execute the terms within the contract and control the relations between parties so that no further “explicit but redundant” negotiations are needed. This paper assesses current and evolving concerns regarding the adoption of blockchain technology in the areas of financial services, and corporate and public governance. The author evaluates the risks and benefits of the utilization of smart contracts and assesses their suitability (in terms of transparency, accountability, responsibility and fairness) for use in the public services’ “space”. It concludes that while the benefits outweigh the disadvantages, great care should be exercised in terms of design and use because this is still a developing area in terms of both the technology itself and the regulatory environment.
Rowan van Pelt, Slinger Jansen, Djuri Baars, Sietse Overbeek
In this article, we introduce a blockchain governance framework that defines the governance of a blockchain as a combination of six dimensions and three layers. An evaluation through eight expert interviews confirms the perceived usefulness and operational feasibility of the presented framework. Furthermore, the framework, is demonstrated by an application in two case studies. The introduced blockchain governance framework establishes a shared understanding and discussion surrounding the topic of blockchain governance.
Kaihua Qin, Liyi Zhou, Benjamin Livshits, Arthur Gervais
Credit allows a lender to loan out surplus capital to a borrower. In the traditional economy, credit bears the risk that the borrower may default on its debt, the lender hence requires upfront collateral from the borrower, plus interest fee payments. Due to the atomicity of blockchain transactions, lenders can offer flash loans, i.e., loans that are only valid within one transaction and must be repaid by the end of that transaction. This concept has lead to a number of interesting attack possibilities, some of which were exploited in February 2020. This paper is the first to explore the implication of transaction atomicity and flash loans for the nascent decentralized finance (DeFi) ecosystem. We show quantitatively how transaction atomicity increases the arbitrage revenue. We moreover analyze two existing attacks with ROIs beyond 500k%. We formulate finding the attack parameters as an optimization problem over the state of the underlying Ethereum blockchain and the state of the DeFi ecosystem. We show how malicious adversaries can efficiently maximize an attack profit and hence damage the DeFi ecosystem further. Specifically, we present how two previously executed attacks can be "boosted" to result in a profit of 829.5k USD and 1.1M USD, respectively, which is a boost of 2.37x and 1.73x, respectively.
This thesis investigates blockchain technology and whether its mutually cooperative topology and commons-based peer production practices have implications for society because, instead of the traditional top-down, centralised model of governance, blockchains represent an alternative way of collaborating. Much of the literature anticipates the vast potential of the permanent and publicly auditable nature of the propagated values of blockchains. Indeed, writers have supposed that the smart contract capabilities of the technology may prove revolutionary for areas beyond that of the economic domain targeted by the cryptocurrency Bitcoin, which is the first successful use-case of a blockchain. However, few advanced use cases beyond that economic realm have materialised; this research demonstrates such usecases. This thesis asks four research questions. The first asks whether blockchains can help reduce energy consumption. The second asks whether blockchains can help digitise the informal sector. The third asks whether blockchains can help counter fake news. The final question asks whether blockchains can help address criticisms of humanitarian aid. Those topics are four amongst many urgent problems currently facing humankind, and therefore, the overarching research question of this thesis becomes whether blockchains can help humanity. This work advances the supposed potential of blockchains proposed by current literature by using design science research to create software artefacts that propose solutions for incentivising energy efficiency, fighting financial fraud, providing digital provenance and adding trust to humanitarian aid reporting. By demonstrating blockchain-based software solutions in those four topic areas, this thesis concludes that blockchains can help humanity. However, if they are to help society address some of its problems, blockchains have significant technological and organisational barriers to overcome. Furthermore, the idea that blockchains can help humanity is a form of techno-determinism and this research concludes that it is impossible to solve every issue by diversifying technical operations; humankind must also change political, economic, and cultural goals, too. Nevertheless, this thesis has implications for regulators, despite the barriers and false solutionism offered by technology because, rather than the trusted lawmakers and experts that nations used to look up to as oracles of truth, now it may be possible to look to blockchains, instead.
The fundamental purpose of agri-food supply chain management is to restrict opportunism caused by information asymmetry. Traditional Chinese agri-food supply chain management introduces a contract mechanism and a trust mechanism to manage the uncertainty of the agri-food quasi-organization. However, it is almost impossible to improve the efficiency of transactions and maintain agri-food supply chain stability in the case of asymmetric information. Nowadays, blockchain, Internet of Things technology and big data drive the agri-food supply chain into a vast smart network which would break the information constraints. This paper analyzes the coupling between blockchain-based digital system and the agri-food supply chain. In addition, this paper presents two cases from China, indicating that the proposed blockchain-based system can achieve disruptive transformation in agri-food supply chain management.
In the current discussions around Blockchain and distributed ledger technologies, we find a lack of theory to conceptualize and understand application scenarios. In this paper we propose to conceptualize distributed ledger technologies as trust mechanisms. Whereas previously one had to rely on a trusted third party (e.g. notary), now one must trust a complex software system – the Blockchain and distributed ledger application– as well as the parties that host the software system and ensure its effectiveness. Based on theories of e-commerce, business networks, and trust, we explore relations between trust and Blockchain design. We analyze three case studies of Blockchain applications in the diamond industry. In each case we study two complementary research questions: (1) how does the blockchain application influence trust, and (2) how do trust based requirements affect the design of a blockchain application? We formulate two propositions and find dynamic interactions between trust requirements, blockchain application design, and transaction trust.
Crypto currency is variety of digital and virtual currency on a technology is understood as Blockchain. Bitcoin is understood as peer to peer payment network. Bitcoin victimization payment dealing not needed central authority permission. Here all managing and validatory dealing anonymously payment network system. Bitcoin shows new ways that E cash dealing system. E cash send directly to one user to second user. While not interrupted by the another user. Here even have quicker and minimum fees to transfer e cash. Exploitation Bitcoin all the transaction cryptograpically secured. Bitcoin not provide very safe privacy guarantees, payment communication are saved in a public decentralized ledger. Sanket Subhash Mane "Anonymous E-Cash Transaction is using Bitcoin" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-3 , April 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30222.pdf Paper Url :https://www.ijtsrd.com/computer-science/other/30222/anonymous-ecash-transaction-is-using-bitcoin/sanket-subhash-mane
Invoice financing has been a steadily growing component of the financing market as a whole for the last few years, and, in 2016, it became the third largest financing market. Nonetheless, the risk of frauds is still very high, and most solutions proposed so far are based on private, proprietary platforms that cannot match the global nature of such a market. Even the most recent proposals based on blockchain are mainly adopting a private, permissioned blockchain due to the lack of confidentiality in public blockchain. In this article, we propose an Invoice financing platform based on a public blockchain supporting both fully open and group-restricted auctioning of invoices. We addressed the confidentiality issue by storing the confidential data encrypted in IPFS and the corresponding hash in the smart contract hosted on Ethereum blockchain. Our blockchain-based solution ensures data confidentiality and benefits from the main properties of the public blockchain required in Invoice financing systems, such as transparency, immutability, trustworthiness, and security. Furthermore, our platform introduces a reputation system based on the past behavior of entities, computed using the blockchain global ledger. Such a reputation system allows insurance companies to modulate the cost of the insurance contracts they offer. This combination guarantees the complete transparency and tamperproofness of a public blockchain, while it allows reducing insurance costs and fraud possibilities.
Abstract A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin’s digital infrastructure at its core. We explore the worldwide spread of infrastructure necessary to maintain and grow Bitcoin as a system (Bitcoin nodes) and infrastructure enabling the use of bitcoins for everyday economic transactions (Bitcoin merchants). Specifically, we investigate the role of legal, criminal, financial, and social determinants of the adoption of Bitcoin infrastructure. We offer some support for the view that the adoption of cryptocurrency infrastructure is driven by perceived failings of traditional financial systems, in that the spread of Bitcoin infrastructure is associated with low trust in banks and the financial system among inhabitants of a region, and with the occurrence of country-level inflation crises. On the other hand, our findings also suggest that active support for Bitcoin is higher in locations with well-developed banking services. Finally, we find support for the view that bitcoin adoption is also partly driven by cryptocurrencies’ usefulness in engaging in illicit trade.
Blockchain technology is the cornerstone of FinTech. Blockchains offer the infrastructure for online platforms which store information and digital assets. Distributed ledgers are about to be employed everywhere. Regulators have opted for a regulatory sandbox approach which demonstrates the need for efficient private law rules to fill potential lacunae. This paper identifies the crucial parameters for ascertaining the private law foundations of blockchain technology and its applications. Aspects of contract and property laws will be assessed in order to determine whether digital assets are capable of acquiring erga omnes status. This will include a survey of current blockchain statutes and potential negative externalities of a blockchain which might trigger liability of its members.
Innovative technologies, such as distributed ledgers, allow securities to be issued or represented in a new form known as digital tokens. Such "tokenisation" of securities will alter post-trade clearing and settlement, and could improve efficiency in some dimensions. But the fundamental trade-offs involving credit risk and liquidity remain in a tokenised world. To succeed, tokens will need to interoperate with account-based systems, at least in the interim.