One of the most tone-deaf suggestions in the Brexit proceedings so far came in August 2017, when the UK Brexit team released a long-awaited position paper setting out its proposal on how to manage its border with Ireland. It suggested that "technology-based solutions" - meaning blockchain, the technology behind cryptocurrencies such as Bitcoin - could be implemented to "make it easier to comply with customs procedures." The UK's vague and misguided solution was quickly ridiculed by experts at home, as well as seasoned counterparts abroad. Although blockchain technology has now been around for ten years, it has not seen any meaningful implementation in global supply-chains, let alone within customs offices. Indeed, a "seamless and frictionless" border in compliance with fundamental customs procedures - itself a unicorn - cannot simply be coded into existence on its own. In reality, questions of capacity and time constraints mean that technological solutions are actually unworkable ...
“In the future, virtually every function in the world of financial services will be displaced, disintermediated and decentralized. The Internet gave us a powerful way to share and access information. Blockchain now gives us a powerful way to share and access value.” During a February 2017 AICPA roundtable, Chairman of the Wall Street Blockchain Alliance and previous Global Head of Trading Analytics at Thomson Reuters, Ron Quarantana spoke to the revolutionary scale of blockchain. Quaranta, viewed by many as an expert in financial technology, predicts that the adoption of blockchain, both by the Big Four accounting firms and their clients, will disrupt the accounting industry by greatly reducing the time and skill needed to perform a quality audit. Some, such as Thomson Reuters’ Jon Baron, even claim that blockchain may eliminate the need for financial statement audits altogether. To many, blockchain is synonymous with Bitcoin, the cryptocurrency that, over the past three years, has returned 3,310%, compared to 35% and 36% returns of the S&P 500 and Dow Jones Industrial Average (DJIA), respectively. Blockchain, however, is much more than Bitcoin, with applications stretching further than cryptocurrency. Rather, it is a peer-to-peer hosted public ledger that does not require a central authority to support or verify transactions, and is unalterable in future periods. In this study, I propose to examine what blockchain technology means for the 887,000 people currently employed by the Big Four. More specifically, I seek to expand upon whether the potential adoption of blockchain in the coming years will reduce audit fees, impact audit quality, or perhaps do away with the audit completely.
Tracie Lea Scott, Armand L Post, Johnny Quick, Sohail Rafiqi
Abstract. We evaluated the feasibility of using a blockchain technology to create a traceability solution for pharmaceutical drugs that would promote compliance with recent legislation. Counterfeit and other illegitimate pharmaceutical drugs threaten patient safety, drug efficacy, and patient trust. The purpose of the Drug Supply Chain Security Act (DSCSA) is to greatly reduce distribution of illegitimate drugs by requiring all pharmaceuticals to be serialized and traceable from the manufacturer through the supply chain to the dispenser. A software application to serialize and track pharmaceuticals must overcome numerous obstacles. In particular, the solution must provide a high degree of trust while also protecting privacy for manufacturers, distributors, and patients. This research will propose that a blockchain-enabled application will solve for many of the most challenging needs for this solution.
The article is devoted to the definition of problems using of blockchain technologies, and ways to overcome them to create distributed, secure applications. The paper considers the theoretical fundamentals of blockchain technologies and blockchain applications, new models of blockchain business, blockchain applications development platform, blockchain applications security, blockchain applications development problems, prospects for further research. The analysis of recent research and publications in the field of blockchain technologies are made in the article. Based on this analysis, it was determined that the blockchain industry has not yet completed the process of generating a generally accepted multilevel technology description. The overview of existing models of business blockchain, their characteristics and areas of application are done in the article. Software tools for creating and maintaining blockchain applications are considered. The article deals with the features, advantages and problems of using blockchain technology for creating distributed, secure applications. The problem of integration of new and existing private systems with an open blockchains is considered. A possible solution to this problem is the creation of a blockchain authentication service to implement a global security level. Such a service can become a standard security infrastructure for new models of mixed private and public systems that will be useful to all participants in different areas of the economy. The directions of development of protected blockchain applications in the sphere of public administration and private business in Ukraine are determined. In addition, the priority tasks that need to be solved for successful implementation of technology in Ukraine are determined based on the analysis of the current state of development of blockchains. There are three main areas of development of blockade technology: standardization, application security and integration of block systems with existing private systems and modern technologies of artificial intelligence, large data and the Internet of things, and described prospects for further research for them.
There is an increasing number of construction products that are manufactured globally through complex supply chains. The results of this is that quality requirements are increasing and the construction industry look towards ways to reassure the sustainability of the materials in their supply chains. The aim of this study is to explore how the new blockchain technology may be used to meet today´s and future requirements of the construction industry and analyze the potential consequences of using the technology. Our work examine how the blockchain technology can support supply chain transparency and material traceability. To explore and analyze how the technology may affect the supply chain of a specific material a case study has been carried out. The task has been focused on how a specific material is handled throughout a suppliers supply chain, from where it originates until final use by a contractor. A hypothetical supply chain has been set-up and analyzed in terms of transparency, traceability and the potential consequences of using the blockchain technology. We have specifically focused on how the blockchain system could be set-up, who should own the blockchain system and what are the sustainable aspects of using blockchain. The conclusion is that blockchain technology can improve the transparency throughout the entire supply chain. However the need for a complementary technology is needed in order to handle all the problems with traceability. One example of this complementary technology is RFID tagging. Furthermore, some of the consequences that has been identified are; it improves the way to handle supply chain documentation, the reputation of the industry improves, the possibility to remove third party organs increases.
The consequences of climate change have rapidly become one of the most important issues of the global agenda. Along with the consequences of global warming, the current course of climate change is directly related to a series of environmental impacts such as: the rising of sea levels, increased frequency of extreme weather events, the shifting patterns of rainfall, increased risks for the wildlife, economic instability (especially in the agricultural sector), to name a few. The dimension of the expected impacts, combined with the speed of the climatic events, poses a significant challenge not only to countries, but to the international community as a whole, in designing a set of actions to adapt to and to mitigate those consequences.
With the development of the blockchain technology, and applications of blockchain technologies more and more widely, we can apply the Blockchains to Industrial Control System(ICS) for network security. The key technology of blockchain include: distributed ledge, asymmetric cryptography, consensus algorithm and smart contract. The goal of our works is to realize industrial control system network security and make that is reliable, safety, high efficiency and low cost. We will explain how to apply blockchain technology to industrial control system network for cybersecurity, and also explain how blockchains works and why blockchains technology can realize the cybersecurity of ICS, then describe how blockchains combine with IoT to realize IoT network security and build blockchain-based ICS cybersecurity architecture modal. We also point out a series of problems that should be considered before the deployment of a blockchains network in ICS and Jot Form data transfer to data storage and data management, blockchains technology can solve these problems well include data transfer insecurity, machine malfunction, data storage insecurity and so on. Our solution is that blockchains network replace Industrial Control systems Field network, our conclusion is that blockchains technology can resolve ICS network security and provide a solution for IoT security, Industrial control network security based on blockchain is very meaningful and feasible.
Healthcare data exists in silos. These siloed systems lack open standards surrounding how data is stored, labeled, and tagged. In turn, these data silos decrease data liquidity, or the ability of data to flow throughout the healthcare system. Undeniably, the healthcare industry sees the value in responsibly sharing health data to extract more value and new insights using predictive analytics, open science, and collaborative solutions. Effective collaboration requires collaborative data. Particularly with health-related data, “sending that data from one peer to another in a secure manner, in a compliant manner, and in a transparent manner” is vital. While organizations share this sentiment, a complex regulatory framework combined with data usage agreements and non-interoperable, proprietary databases add friction to this data exchange. Particularly in healthcare, blockchain enables greater transparency between healthcare professionals sharing data, and it empowers patients to have control over their data. First, this paper briefly discusses blockchain. Next, this paper outlines issues that plague the healthcare industry including the laws that serve as the framework. Finally, this paper discusses architecture considerations for a blockchain based healthcare data exchange that also respects the current regulatory environment.
Nowadays the cryptocurrency industry is constantly growing and developing. Each year it attracts a big number of investors and businessmen from all over the world. Since the creation of Bitcoin in 2009, more than a thousand new cryptocurrencies with different features were created. Most countries are already working on an effective regulatory mechanism for the cryptocurrency industry. However, the question is whether the regulation will not contradict the essential features of digital currency, such as decentralization, independence and anonymity. This MA thesis analyzes the issue of cryptocurrency regulation as an important stage in their development and evolution. I compare the regulatory frameworks, developed by Canada, the USA, Great Britain and China, which are considered to be the world leaders in the cryptocurrency industry and the ICO sector. In this MA thesis I also try to explain how cryptocurrencies are perceived both by the cryptocurrency community and the regulators in order to give an answer to the question "What is a cryptocurrency?". Finally, this thesis also discusses the issue of cryptocurrency lobbying as an important part of the communication between the state and the third sector.
This thesis analyses the concept of private cryptocurrencies alongside the conduct of contemporary monetary policy. The technological development of blockchain and cryptocurrencies could imply a disruption in the global economic system and substitution of modern fiat money worldwide. This research aims to discuss whether the mass adoption of cryptocurrencies would lead to substitution of the fiat money system. The viability of such a proposition is analysed through the literature review and the discussion on the topic. \n \nLiterature review consists of a detailed examination of money history and its nature, the conduct of contemporary monetary policy and its critique, and the purpose of cryptocurrency as a solution to financial freedom. \n \nIt is then discussed, how much power over money people have and how it could be increased with the mass adoption of cryptocurrency. The problems of transcending network effects for mass adoption are addressed with the analysis of technical drawbacks. A regulatory approach is examined, and several proposals are presented. \n \nThough the libertarian approach to economies and financial management is virtuous, the contemporary implementation of cryptocurrencies is imperfect. In their pure form, cryptocurrencies are unlikely to gain widespread adoption and substitute fiat money under stable economies.
This study investigates the possible diversification benefits of multiple cryptocurrencies (Bitcoin, Ethereum and Litecoin) in a diversified portfolio from the perspective of a South African investor over the period 30 July 2015 to 20 December 2017. Cryptocurrencies are mostly still in their infancy, and reliable information regarding their usefulness as an asset class in a diversified portfolio is scarce to come by. This study adopts a quantitative research methodology which incorporates the following statistical methods: i) mean-semivariance optimisation; ii) Kendall Tau-b correlations; and, iii) autocorrelation function for serial correlations. The JSE All Bond Index is used as bond investment proxy, a combination of the JSE Top 40, Resources Index and Financial-Industrials Index is used as an equity investment proxy, and the LBMA Gold PM is used as a gold investment proxy. The study found that all three cryptocurrencies under investigation yielded risk-return benefits for a diversified portfolio. The alternative cryptocurrencies (Ethereum and Litecoin) exhibited higher levels of downside risk (semideviation) than Bitcoin, but proportionately greater returns. Hence, the addition of these two cryptocurrencies to a portfolio that includes Bitcoin and traditional assets resulted in an expansion of the efficient frontier. Ethereum exhibited slightly lower correlations to Bitcoin than Litecoin, which is most likely attributed to its greater technological differences, but performed worse as a diversifier. All three cryptocurrencies yielded similar low to very low correlations to all traditional assets, including gold - representative of the potential diversification benefits. The autocorrelation function resulted in high positive serial correlations for all three cryptocurrencies, indicative of strong trending behaviour and high volatility.
Engelmann Felix, Holland Martin, Nigischer Christopher, Stjepandi cacute Josip
Within the “Industrie 4.0” approach, 3D printing technology is characterized as one of the disruptive innovations. Conventional supply chains are replaced by value-added networks. The spatially distributed development of printed components, e.g. for the rapid delivery of spare parts, creates a new challenge when differentiating between “original part”, “copy” or “counterfeit” becomes necessary. This is especially true for safety-critical products. Based on these changes classicly branded products adopt the characteristics of licensing models as we know them in the areas of software and digital media. This paper describes the use of digital rights management as a key technology for the successful transition to Additive Manufacturing methods and a key for its commercial implementation and the prevention of intellectual property theft. Risks will be identified along the process chain and solution concepts are presented. These are currently being developed by an 8-partner project named SAMPL (Secure Additive Manufacturing Platform).
Open access
3D Shape Modeling and Analysis
Additive Manufacturing and 3D Printing Technologies
Blockchain, as the backbone of the future "Internet of Value," is considered to have the potential to considerably alter the economy and society that we have today. This paper focuses on explaining the state-of-the-art of blockchain technology and its applications, especially presenting the challenges of using blockchain widely in different domains and from the perspective of technology. We conclude this paper by providing suggestions for enforcing the further development of blockchain technologies in China.
In this article, the author analyzes the unrealized project of the department store "Na-Ma" in the neighborhood Trnje in Zagreb from 1960. Planned as a part of the new center of state-socialist Zagreb, this project offers insight into the professional context of imagining department stores as modern retail spaces and specific architectural types, as well as into the economic and social conditions that defined the processes of planning and building department stores, the modern retail network and urban space in Zagreb under Yugoslav state-socialism in the early 1960s. The author argues that the unrealized department store "Na-Ma" shows through the sphere of modern retail the ambitions and challenges present in architecture and urban planning, as well as in the decision-making and financing processes on the city level, and in this way reveals in more detail the functioning of the decentralized Yugoslav administrative and economic system in Zagreb in this period.
АннотацияВ статье рассматривается актуальность создания новых валютных систем, их место и роль в мировой финансовой системе.Проанализирована одна из разновидностей цифровой валюты -криптовалюта, создание и контроль за которой базируются на криптографических методах.Выявлены проблемы функционирования данной валюты и предложены меры по их устранению.Ключевые слова: цифровая экономика,
Derrick Chan, R. O. Decker, William Nguyen, Yuya Oguchi
Cryptocurrencies are rapidly receiving mainstream attention and adoption. As a result, new technologies are developing to store and transact cryptocurrencies to keep up with a rapidly developing market. We have developed a way to utilize a mobile phone to communicate with the Ethereum blockchain in order to monitor and initiate cryptocurrency transactions. The project allows users to create new Ethereum addresses and to send arbitrary amounts of Ether to existing Ethereum addresses, while maintaining security for the end user. We conclude that this method of communication with the Ethereum blockchain is viable and is an avenue for exploration in the future. As a result from this project, we anticipate a growth of new cryptocurrency applications on mobile devices. Furthermore, the various security features utilized in this project such as pin randomization, mnemonic recovery, and hardware level encryption can be implemented in other applications to increase security for all users.