Blockchain Papers

Yining Hu, Madhusanka Liyanage, Ahsan Mansoor, Kanchana Thilakarathna · 6 authors

A blockchain-based smart contract or a "smart contract" for short, is a computer program intended to digitally facilitate the negotiation or contractual terms directly between users when certain conditions are met. With the advance in blockchain technology, smart contracts are being used to serve a wide range of purposes ranging from self-managed identities on public blockchains to automating business collaboration on permissioned blockchains. In this paper, we present a comprehensive survey of smart contracts with a focus on existing applications and challenges they face.

Kathy Ning Shen, Valerie Lindsay, Yunjie Xu

The rapid proliferation of digital technologies with new functionalities has profoundly changed competitive environments, reshaping traditional business strategies and processes (Bharadwaj, Sawy, Pavlou, & Venkatraman, 2013). Such technologies also give rise to new ways of collaboration, leveraging resources, product/service design, development, and deployment over open standards and shared technologies (Markus & Loebecke, 2013). At the microlevel, digital technologies also reshaped the mentality of entrepreneurs (Domenico, Daniel, & Nunan, 2014) and hence affect their decision-making processes (Shepherd, Williams, & Patzelt, 2014). Digital entrepreneurship includes ventures and transformation of existing businesses by creating novel digital technologies and/or novel usage of such technologies. Currently, many countries consider digital entrepreneurship as a critical pillar for digital economic development. It is imperative to develop a fine-grained understanding of digital entrepreneurship. Traditionally, research on entrepreneurship seeks to understand “how, by whom, and with what effects opportunities to create future goods and services are discovered, evaluated, and exploited” (Shane & Venkataraman, 2000) and how entrepreneurial activities, processes, and outcomes are influenced by certain contexts (Zahra, Wright, & Abdelgawad, 2014). Despite the increasing numbers of entrepreneurs and businesses that are currently using digital technologies to pursue opportunities, research has lagged far behind practice and paid limited attention to the phenomenon (Grégoire & Shepherd, 2012). Particularly, the understanding about the role that digital technologies play in entrepreneurship and the role that users and agents play in digital entrepreneurship remains limited (Nambisan, 2016). Several review articles on entrepreneurship also clearly point out the gaps in understanding the novel usage of digital technologies by entrepreneurs (Kiss, Danis, & Cavusgil, 2012; Mainela, Puhakka, & Servais, 2014; Shepherd et al., 2014). Research in the IS field has a relatively long tradition of investigating entrepreneurial actions enabled by digital technologies within an organizational context (Bharadwaj et al., 2013; Sambamurthy, Bharadwaj, & Grover, 2003). However, only a few recent studies have shed light on the characteristics and design of digital platforms for entrepreneurial activities, such as crowdfunding (Burtch, 2013; Burtch, 2014; Zheng, Li, Wu, & Xu, 2014). The objective of this special issue is to provide a forum for IS and other business scholars to engage in this important dialogue on digital entrepreneurship and to contribute to the development of cumulative knowledge in this pivotal area. The selected articles address digital entrepreneurship from quite diversified perspectives with different methodologies and shed light on the roles of technologies. In particular, these studies reveal some interesting interactions among platforms, players, institutions, and agency and offer rich insights to guide future research on digital entrepreneurship. The study on “Digital Transformation by SME Entrepreneurs: A Capability Perspective” by Li, Su, Zhang, and Mao (2018) offers a special perspective to understand the transformation of SMEs in a digital ecosystem. This paper presents case studies that describe how seven SMEs have transformed from local, incapable small firms to active and successful cross-border e-commerce (CBEC) players on the Alibaba platform. From the authors' view, these Chinese firms were “least likely to embrace IT and complex digital platforms for foreign trade.” The miracle happened through dynamic managerial capability building, organization capability building for CBEC, and strategic changes. A key perspective to appreciate the paper is its exposition on how SMEs acquire capabilities through the Alibaba digital platform. While the authors rightfully focus on SMEs' acquisition of capabilities necessary for CBEC and beyond, a reader may as well appreciate how a digital platform plays a nurturing role in this process. Almost at every step, the platform goes the extra mile in motivating SMEs, providing hands-on training on the use of the platform, providing social networking and mutual learning among SMEs, building CBEC tools to overcome trading barriers, and motivating SMEs for strategic transformation. Therefore, the moral of the story is really not only about how individual SMEs became heroically successful but also about what a platform should do to build a digital ecosystem, with CBEC being an example. The authors call it the “management-oriented service” of the platform, which could be interpreted as the “nurturing,” “coaching,” and “scaffolding” roles of the platform. The intricate relationship between the platform and SMEs is what makes this case study different. A plausible explanation of this phenomenon is the Chinese business culture on relationships or “guanxi.” If so, this study offers an interesting contrast to the typical arms-length business relationship that exists between firms and a platform in the West. The paper, “From a Marketplace of Electronics to a Digital Entrepreneurial Ecosystem (DEE): The Emergence of a Meta-Organization in Zhongguancun, China,” by Du, Pan, Zhou, and Ouyang (2018), focuses on the digital entrepreneurial ecosystem (DEE) and, particularly, the role of the external environment, using a case-based approach. The paper reports on the findings from a single case study of an emerging DEE in China, often referred to as “China's Silicon Valley.” Meta-organizational theory is used to show that the emergence of the DEE involves the development of a meta-organization or “community.” The meta-organization comprises elements of labour (institutional supporters, coworking space operators, and niche players) and integration effort, which is concerned with the construction of a common infrastructure and the cultivation of an entrepreneurial culture. The study adds to the literature by providing a rich account of the emergence of a DEE and showing the importance of taking a community perspective in examining how the actors involved organize to exploit the entrepreneurial opportunities available through digital technologies. Given that much of the research on digital entrepreneurship is at the single firm level, this study makes an important contribution by examining the ecosystem and the meta-organization formation process. This provides a richly grounded basis for guiding entrepreneurs on the dynamics of a DEE and the roles and processes involved. Sometimes, digital platforms may pose negative challenges to heterogeneous entrepreneurship. The stigma of a digital platform is one of such challenges that might affect entrepreneurs and their ventures on the platform. The study by Ingram Bogusz and Morisse (2018), entitled “How Infrastructures Anchor Open Entrepreneurship: The Case of Bitcoin and Stigma,” brings a fresh perspective to understand the relational aspects of digital platforms by using an ideological lens to examine how a digital platform (in this case bitcoin infrastructure) is described and interpreted by open entrepreneurs and how such ideologically heterogeneous entrepreneurship responds to stigma towards bitcoin communities. The authors used a case study of the bitcoin community and entrepreneurs to reveal the possible ideologies held by entrepreneurs over bitcoin communities, ranging from mainstream, pragmatist, technologist to libertarian. Entrepreneurs with different ideologies develop different interpretations of the stigma towards bitcoin communities and hence respond in different ways. Financing is a critical issue for entrepreneurship, and crowdfunding offers a novel approach. Two papers in this special issue provide interesting and supplementary insight. The paper entitled “Sponsor's Cocreation and Psychological Ownership in Reward-based Crowdfunding” by Zheng, Xu, Zhang, and Wang (2018) addresses the topic of online reward-based crowdfunding. The study draws on data from a sample of individual crowdfunding investors in China. It focuses on how the sponsor's psychological ownership of the entrepreneurial project is promoted by their value cocreation process and leads to an improvement of the sponsor-entrepreneur relationship and commitment. Sponsor's cocreation positively influences psychological ownership by generating perceptions of control and intimate knowing about the project, which the authors showed as important mediators of the relationship. The study found that the relationship between sponsor cocreation and psychological ownership was moderated by the entrepreneur's activeness, as well as by social connections, implying that active involvement of the entrepreneur and sharing of information were important factors in enhancing the relationship. The paper makes an important contribution to a so-far neglected area of reward-based crowdfunding research by focusing on the postinvestment behaviours and relationships of sponsors and entrepreneur. By considering the role of sponsor cocreation on the relationship and the sponsor's ongoing commitment to the project, the paper provides useful insights into the psychological and behavioural dimensions associated with reward-based crowdfunding. The study by Thies, Wessel, and Benlian (2018), entitled “Network Effects on Crowdfunding Platforms: Exploring the Implications of Relaxing Input Control,” sheds light on the mechanisms that drive the evolution and growth of a crowdfunding platform. Using 8-year data from one of the most popular reward-based crowdfunding platforms, Kickstarter, the authors seek to answer whether, in such digital platforms, the platform growth is mainly driven by funders, entrepreneurial projects, or their reciprocal relationship. The findings suggest asymmetric network effects, in that increasing the number of entrepreneurial projects, as compared with the number of funders, contributes more to network effects and is more critical for platform growth. Hence, should losing input control, one of the mechanisms to increase the number of entrepreneurial projects, be a reasonable choice? The results show that both same-side and cross-side network effects would be compromised. The value in this research is to offer a useful way to understand the dynamics in digital platforms resulting from network structures. The selected articles investigate quite a diversified yet related set of phenomena in digital entrepreneurship and reveal the rich interaction among digital platforms, entrepreneurs, institutions, and investors. We believe these studies add great value to enrich our understanding of digital entrepreneurship and hope the exploration effort made by the authors in this special issue will inspire future research developments. Dr Kathy Ning Shen is an Associate Professor in the Faculty of Business and Management at the University of Wollongong in Dubai. She received her Doctoral degree in Information Systems from the City University of Hong Kong and was the Chairperson of the Management Information System Department at Abu Dhabi University. Her main research areas include human-computer interaction, applications of information systems in organizations, e-marketing, virtual communities, and knowledge management. She has published more than 60 refereed journal and conference articles. Her work has appeared in top refereed journals such as Journal of the American Society for Information Science and Technology, Information & Management, Journal of Business Research, Communications of the ACM, Behaviour and Information Technology, Journal of Computer Information Systems, and Internet Research and top conferences in the field. Professor Valerie Lindsay is Professor of Entrepreneurship and Management, and Director of Graduate Programs (SBA) at the American University of Sharjah (AUS) in the UAE. She has a PhD from the University of Warwick in the UK. Prior to joining AUS, she was the Dean of the Faculty of Business at the University of Wollongong in Dubai, held academic positions at the Victoria University of Wellington, New Zealand, the University of Auckland, New Zealand, and at the University of Warwick, UK, specializing in international business and strategy. Professor Lindsay's research interests lie in the area of international strategy, specifically, internationalization and market entry, SMEs, services internationalization, and business in Asia. Her work has been published in leading journals, including Management International Review, Organizational Dynamics, Industrial Marketing Management, and International Journal of Services Industry Marketing, and she coauthored the book Knowledge at Work. Before joining academia, Valerie was the New Zealand Marketing Manager for ICI Pharmaceuticals and also worked in two New Zealand government departments in the areas of trade and tertiary education. She has consulted widely in strategy and marketing in industry and in government over many years. Professor Yunjie (Calvin) Xu is a Professor at the School of Management, Fudan University, Shanghai, China. He received his PhD in Management Information Systems from Syracuse University, New York, USA. His research interests include electronic commerce, knowledge management, and social media. His research publications appeared in various information systems journals, including Journal of Management Information Systems, Journal of Association for Information Systems, Journal of the American Society for Information Science and Technology, IEEE Transactions on Professional Communication, Communication of the ACM, International Journal of Electronic Commerce, Journal of Retailing, and Decision Support Systems.

David Shakow

In this report, Shakow explains how a decentralized autonomous organization functions and interacts with the U.S. tax system and presents the many tax issues that these structures raise. The possibility of using smart contracts to allow an entity to operate totally autonomously on a blockchain platform seems attractive. However, little thought has been given to how such an entity can comply with the requirements of a tax system. The DAO, the first major attempt to create such an organization, failed because of a programming error. If successful examples proliferate in the future, tax authorities will face significant problems in getting these organizations and their owners to comply with the tax laws.

Bill Buchanan, Naseem Naqvi

A blockchain enabled ‘Digital Single Economy” can act as a catalyst for growth and could provide a platform where borderless innovative practices will thrive and create a true collaborative global economy, with shared goals and objectives for the benefit of wider community. A society where digital economy flourishes irrespective of geopolitical ideologies and where a technology like Blockchain holds transformative potential to unite the nations together. The UK currently has strong collaborations around blockchain including with the British Blockchain Association which aims to integrate with the EU on the adoption of Blockchain based methods around a range of application areas. However, at the core of these alliances must be the promotion of technology which link industry, the public sector, and academia, whilst also integrating key stakeholders, such as law enforcement, finance, health care, professional bodies and the legal industry.

Sergio Nasarre Aznar

Abstract Access to housing is a crucial issue worldwide. It is still under discussion whether collaborative economy is enhancing or, on the contrary, constraining access. In this context, the concept of ‘collaborative housing’ (collaborative economy applied to the funding, access and organisation of housing) arises to address a range of situations that might potentially help people to access housing, such as co-housing or the so-called ‘intermediate tenures’. Disintermediation through blockchain technology, and the resultant effect of a reduction in the transaction costs of access to housing, is one of those trends regarding collaborative housing. Accordingly, the adaptation of the disintermediation mechanism to the real estate conveyance and land registry, as in many other sectors of the collaborative economy, is timely. This can be achieved by exploring the potential of this mechanism in enhancing traditional methods of this sector through possible technological solutions. This paper presents a preliminary discussion on the different types of collaborative housing and the potentials of the blockchain technology to facilitate access to housing in relation to real estate conveyancing and registration.

Pradeep Murugan, Suraj Subramanian, Mr. V Pandarinathan Dr. D. Rajinigirinath

A new model for building massively scalable and profitable applications is emerging. Bitcoin paved the way with its cryptographically stored ledger, scarce asset model, and peer-to-peer technology. These features provide a starting point for building a new type of software called decentralized applications, or dapps. They are more flexible, transparent, distributed, resilient, and have a better incentivized structure than current software models. Centralized systems are currently the most widespread model f software applications. Centralized systems directly control the operation of the individual units and flow of information from a single center. Blockchain, a massively replicated database of transactions that's able to avoid Sybil attacks. For the first blockchain lets us achieve decentralized consensus without the use of a centralized server.

Chris Elsden, Kate Symons, Chris Speed, John Vines · 5 authors

Abstract The OxChain project is investigating the design of blockchain applications in partnership with a large and traditionally trusted institution, Oxfam. We outline some of the potential opportunities that distributed ledger technologies could offer the charity and development sector as a whole, but focus on the challenges of undertaking co-design work in the context of large institutions. We suggest the need to leverage existing trusted relationships and understand the unique value that such institutions offer.

Jan Krämer, Jan Martijn E. M. van der Werf, Johan Stokking, Marcela Ruiz

Distributed Infrastructure Initiatives (DIIs) are communities that collaboratively produce and consume infrastructure. To develop a healthy ecosystem, DIIs require an economic model that balances supply and demand, but there is currently a lack of tooling to support implementing these. In this research, we propose an architecture for a platform that enables DIIs to implement such models, focused around a digital currency based on blockchain technology. The currency is issued according to the amount participants contribute to the initiative, which is quantified based on operational metrics gathered from the infrastructure. Furthermore, the platform enables participants to deploy smart contracts which encode self-enforcing agreements about the infrastructure services they exchange. The architecture has been evaluated through a case study at The Things Network (TTN) a global distributed crowdsourced Internet of Things initiative. The case study revealed that the architecture is effective for the selected case at TTN. In addition, the results motivate future research lines to support scalability (i.e., to deploy the architecture on a larger scale) and security.

Efpraxia D. Zamani, George M. Giaglis

Purpose The purpose of this paper is to argue for the role of the blockchain, i.e., distributed ledger technology, in building innovative business models, including machine money, autonomous economic agents and decentralised organisations. Design/methodology/approach The paper is conceptual/argumentative. As such, it draws on research on (e-)commerce, theories of markets, disruptive innovation and extant studies and conceptual work at the intersection of cryptocurrencies, machine-to-machine commerce and the Internet of Things. Findings The authors highlight three application areas for blockchains, whereby they can function as applications, can help develop autonomous economic agents and can lead the development of decentralised autonomous organisations. With regards to the question of market disintermediation, the authors suggest that, rather than complete disintermediation, the most probable scenario is that of new types of intermediaries finding previously unthinkable roles to play in mediating blockchain-based economic transactions. With regards to the inhibitors that slow down the technology’s adoption and, therefore, the development of new business applications, the authors posit that these relate mainly to the inherent risk of the technology, infrastructure requirements, scepticism of early decision makers and the lack of required new skills and competencies. Originality/value The authors examine how new forms of digital money and technologies embedding trust in decentralised networks will alter markets and commerce, at a time when many regulatory issues remain unresolved; in doing so, the authors focus on how blockchain-enabled technologies can be used to enable and further develop decentralised trusted peer-to-peer transaction ledger systems and applications and lead to sustainable business models.

Alexander Babkin, Т. А. Головина, A.V. Polyanin, Yulia Vertakova

The modernization of traditional process and service industries, organization of trading and procurement procedures, related financial and logistical operations, change in the structure of consumption associated with the through penetration of information technologies and digitization of economic processes creates the basis for formation of new markets and conditions for their functioning. As employees, consumers, businesses, and manufacturing processes become increasingly related as a single digital space, digitalization offers wide possibilities for new decision-making models being the basis for ongoing global economic and social transformations which change business and consumer models, one of which is the sharing economy. The digital model of sharing economy will be developed and transformed in the next few years to achieve the main purpose – the use of unengaged or underused assets in the economy. In this regard, the search for new tools and technologies for business models development is vital. The authors present the content, advantages, current state and prospects for development of the distributed registry technology (blockchain). It is presented that it will increase transparency, security and efficiency of transactions of economic entities in various financial and non-financial fields. A transactional model of the economic system based on the blockchain technology is presented. The sharing economy features and characteristics are given.

Prateek Goorha

No abstract is available for this record.

Thorsten V. Koeppl, Jeremy Kronick

No abstract is available for this record.

William R. Adams

This thesis introduces blockchain, the underlying technology of cryptocurrencies such as Bitcoin, and discusses how best to conceptualize it relative to other technologies. Following an explanation of the fundamentals of blockchain, also known as the distributed ledger, I identify the characteristics of the technology. Building upon blockchain’s inherent strengths and limitations, I explore potential business applications of blockchain. Finally, I recommend that leaders continue to track the development and adoption of blockchain technology, even if they decide that implementing it does not align with their organization’s strategy at present.

Stefano Balbo, Guido Boella, Alex Cordero, Diego Di · 8 authors

We present Co-City, an Urban Innovative Action project funded by the European Commission.Co-City proposes a collaborative management of urban commons to counteract poverty and socio-spatial polarization through the combined use of different actions.In particular, we are developing a Proof of Concept based on distributed ledger technology that enables the development of local economy models.

Dmitri Boreiko, Gioia Vidusso

The fintech revolution, crowdfunding, and blockchain-based funding have dramatically reduced borrowing and lending transaction costs. Many have argued that ultimately this would lead to the complete disintermediation of financing for start-ups and SMEs. However, persistent asymmetric information and moral hazard problems have led to the creation of a new class of intermediaries that play a vital role in these new innovative financing methods. The authors review the new ecosystem built around initial coin offerings (ICOs), and in particular study the role of the ICO aggregators, and listing and rating portals. Using their hand-constructed database of all ICOs from inception in 2013 to September 2017, the authors find robust statistical confirmation that extensive coverage of a particular fundraising campaign in the ICO aggregators’ lists is associated with more successful token sales. However, ratings data seem and appear to vary considerably across different ratings websites and appears to be of mediocre quality. Investors should therefore treat such ratings with caution. <b>TOPICS:</b>Currency, information providers/credit ratings, risk management

Hongjiang Zhao, Cephas Paa Kwasi Coffie

No abstract is available for this record.

Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen

No abstract is available for this record.

Vladimir Plotnikov, Valentina Kuznetsova

The development of information technology in the modern economy is one of the drivers of economic growth. Digital technologies are developing at an accelerating pace. Digitalization stimulates not only economic, but also social and technological progress. The impact of digital technology in different industries is not the same. The authors of the article consider such promising modern technology as Blockchain. Its advantage is that the information is protected from unauthorized modification. This transforms the system of economic relations. The level of trust increases. Opportunistic behaviour of participants in contractual relations is blocked. As a result, economic efficiency improves. These positive effects are analyzed in the case of the pharmaceutical industry. The introduction of Blockchain technologies into pharmaceuticals allows you to track all stages of production of drugs and guarantee their quality. Blockchain technology allows you to confirm the authenticity of recipes and the drugs with the help of special digital devices. The consequence of this is a reduction in the number of counterfeit drugs on the market, as well as improving the quality of medical care for the population.

Thibault Schrepel

No abstract is available for this record.

Deane E. Jill

A useful blockchain should possess the following properties, one or more of which many existing blockchain systems lack: 1) A sound consensus protocol. 2) An efficient transaction-processing system. 3) Immutability of history. 4) Decentralization. 5) An effective avenue for hard-forks and rule changes. We propose a system named the “Verex Blockchain” that will fulfill these requirements. This system employs an “Assigned-Majority-Validation” consensus protocol whereby only nodes within a specialized, designated network may vote on the correct state of the blockchain and add new blocks of transactions without proof of work or stake. New nodes to this network must be approved by existing nodes. These nodes will be controlled by entities with high public visibility such as governments or multinational technology companies, whose identities and actions will be made fully transparent on the blockchain. Transactions will be charged fees in cryptocurrency according to a fixed and known fee schedule, which will be earned by nodes in the designated network. Any user in the world may download the blockchain, receive and verify updates, and submit transactions, but only nodes in the specialized network may write updates to the blockchain.

Michał R. Hoffman

Permissioned distributed ledgers (permissioned blockchains) supporting smart contracts that automatically adjust accounts and coordinate records among multiple parties, present a valid platform opportunity for establishing a fully digital tax regime. We propose a permissioned blockchain-based system aimed at eliminating some of the losses that tax authorities globally are currently struggling with. These multi-billion flaws manifest themselves as the tax gap, or the inability to collect the full amount that is owed by a given entity to a particular authority. Illegitimate or inefficient tax operations could be prevented with a global suite of smart contracts deployed on top of a consortium distributed ledger with on-chain governance. We also introduce the vision for a VAT Invoice 2.0 modelled as a Linked Data document. A tax reference generated by a smart contract would allow anyone with the right permissions to immediately investigate the entire commercial chain for any taxable item on an ontology-based tax document.

Alvaro Gonzalez Rivas, Mariya Tsyganova, Eliza Mik

Many expect Smart Contracts (SC’s) to disrupt the way contracts are done implying that SC have the potential to affect all commercial relationships. SC’s are automatization tools; therefore, proponents claim that SC’s can reduce transaction costs through disintermediation and risk reduction. This is an over-simplification of the role of relationships, contract law, and risk. We believe there is a gap in the understanding of the capabilities of SC’s. With that in mind we seek to define an amorphous term and clarify the capabilities of SC’s, intending to facilitate future SC research. We’ve examined the legal, technical, and IS views from an academic and practitioner’s perspective. We conclude that SC’s have taken many forms, becoming a suitcase word for any sort of code stored on a blockchain, including the embodiment of contractual terms; and that the immutable nature of SC’s is a barrier to their adoption in uncertain and multi-contextual environments.

Daniel Haberly, Duncan MacDonald-Korth, Michael Urban, Dariusz Wójcik

While contemporary technological disruption is increasingly conceptualized in terms of the logic and paradoxes of the digital platform economy, discussions of “FinTech” have only engaged to a limited extent with these debates—particularly from an economic geographic standpoint. Here we fill this gap by proposing an adapted Global Financial Network (GFN) framework for conceptualizing the organizational and geographic logic of the digital platform economy in finance, and applying it to examine the impact of the digital platform model on asset management. As we will show, asset management is being profoundly disrupted by what we dub digital asset management platforms—or DAMPs—which encompass services including index fund and ETF provision, robo-advising, and analytics and trading support. Like other digital platforms, DAMPs do not so much leverage technology to enhance their competitiveness within markets, as to radically restructure the market itself. Also, like other platforms, their rise has produced a winner-take-all paradox of centralization through democratization that defies predictions of technology-enabled industry decentralization. However, the logic and implications of the rise of DAMPs diverges, in other respects, from non-financial digital platforms, as finance has long possessed an informational intensity and regulatory and organizational fluidity characteristic of the digital platform economy. Consequently, the digital platform model has mostly developed endogenously in asset management through incremental innovation by major financial firms—in a process that has reinforced the position of leading incumbent asset management centers, and above all New York—rather than being introduced from the outside by upstart technology firms and clusters.

Sina Rafati Niya, Florian Schüpfer, Thomas Bocek, Burkhard Stiller

Abstract This work introduces the design and implementation of an Android-based Peer-to-peer Purchase and Rental Application termed PuRSCA, which leverages Smart Contracts (SC) and the Ethereum public blockchain (BC). As a Device-to-device (D2D) communication protocol, WiFi-Direct is chosen to enable the P2P data transmission between two parties. This work results in a cost-efficient, secure, SC-based, P2P, and Decentralized application (Dapp). Evaluations on performance of this Dapp is specified in terms of its D2D deployment, transaction costs, scalability, security, and privacy.