Blockchain Papers

Masafumi Nakano, Akihiko Takahashi, Soichiro Takahashi

No abstract is available for this record.

Christopher M. Bruner

Review of Traceable Shares and Corporate Law, 113 Nw. U. L. Rev. __ by George S. Geis (forthcoming 2018)

Riccardo Sibani

The recent emergence of a distributed technology named blockchain, clearly created a new point of view in the data storing and data distribution fields. If on one hand blockchain is mainly known for Bitcoin (an auto-regulated decentralized digital currency), on the other hand it has the potential to set up an auto regulated economy.In this thesis, the blockchain technology will be analyzed and described starting from P2P architecture and its origin in 2009 Satoshi Nakamoto’s whitepaper, and leading to the most up to date blockchains. The advantages and disadvantages of such architecture will be pointed out keeping in mind the security, speed and cost of such infrastructure.While Real Estate companies have often anticipated the technological innovations, land registries, instead, derive and keep a working manner which is extremely old and out of date: made of unclear procedures and wet signatures. The market needs and legislation will be researched mainly referring to other works and integrated with a technical point of view with particular focus on the decentralization of such systems.After analyzing the flow, problems and flaws of the current system, a new proposal will be researched, in particular trying to minimize the dead time in between the different steps of the mortgage, increase transparency, as well as reducing dependence on the central authorities, leading to more convenient interactions among the properties’ stakeholders. An attractive low capitalization decentralized financial product will also be proposed and implemented able to lower the interest rate and create a profitable investment with low risk, low interest and durable in time.Secure and ad-hoc algorithms will be presented and, in a later section, analyzed in combination with different blockchain technologies. Scalability and performance will also be evaluated, taking into account all the current technology limitations and the near future opportunities.

Mikayla Novak

Purpose The purpose of this paper is to conceptualise the chief aspects of policy interest in blockchain technology. Design/methodology/approach The paper outlines policymaking processes in the context of innovation and technological change, assesses generic variations in policy treatment towards blockchain, and identifies manifestations of policy entrepreneurship using national case studies of blockchain policies. Findings Favourable policy dispositions towards blockchain technology are interpreted as political efforts to develop local, blockchain-enabled economies. So-called “crypto-friendly” jurisdictions proactively clarify regulatory and tax treatments of cryptocurrency and other blockchain applications, and trial blockchain uses in fields predominated by public sector activity. Policymakers in countries hostile towards blockchain-related activity have instigated bans or strict limitations with respect to blockchain engagement by developers and users. Research limitations/implications Reliance upon case studies suggests the need for alternative study approaches (e.g. index construction, empirical research) as blockchain use consolidates throughout the global economy. Practical implications This paper provides insight to policymakers and blockchain practitioners regarding the attributes of accommodative policies towards distributed ledger technology. Social implications Countries and sub-national regions exhibiting a more welcoming policy stance are more likely to attract entrepreneurs and investors in the crypto-economic blockchain space. Originality/value This paper develops a policy “crypto-friendliness” construct to assess the extent to which policymakers enact accommodative policies for blockchain development.

Matti Pärssinen, Mikko Kotila, Rubén Cuevas, Amit Phansalkar · 5 authors

The 200-billion-dollar per annum online advertising ecosystem has become infested with thousands of intermediaries exploiting user data and advertising budgets. All key stakeholders in the value-chain are infected: advertisers with fraud, publishers with their diminishing share of advertising budgets, and users with their right to privacy. Blockchain presents a possible solution to addressing the critical issues in the online advertising supply chain. The question remains whether blockchain scalability, energy-efficiency, and token volatility issues can be solved in the coming years to the extent that online advertising could widely leverage trustlessness and the benefits gained from blockchain technology. This paper aims to review the current progress and to open a discussion to address the issues. We present new requirements for blockchain-based online advertising solutions. We have also analyzed the available solutions against the requirements and recommend directions for future research and solution development. Evidence from our research points out that blockchain is not yet ready to be widely implemented in online advertising. More research is needed, and new proof-of-concepts need to be developed before blockchain technology can be considered a trusted alternative for the current online advertising marketplace based on open real-time bidding.

Wenli Yang, Saurabh Garg, Ali Raza, David Herbert · 5 authors

No abstract is available for this record.

Christoph Berger, Urs Hoffmann, Stefan Braunreuther, Gunther Reinhart

Regarding the changing market environment in terms of logic requirements, production planning and control recently contribute significantly to fulfilling these demands. Logistic command variables, particularly adherence to schedule, are becoming the crucial parameters to satisfy the customer's needs. Cyber-Physical production Systems (CPPS) with their characteristics decentralized organization, autonomous control, real-time capability and smart data processing offer new possibilities of production monitoring and control. For this purpose, this paper proposes a new event-based approach in order to improve adherence to schedule in production by using the potential of CPPS. Control loops close to production shop floor provide a fast identification of events. Based on an activity list, the production control is able to react adequately to the different events e.g. machine disturbance or urgent orders. The activities initiated by the Manufacturing Execution System (MES) affect the whole production system while the production. In a final step, the developed concept of an event-driven production control was implement in a simulation.

Nikolay Mrochkovsky

The technology of the distributed registry creates new opportunities for changing the management system, which are discussed in the article. The use of the blockchain allows building a decentralized autonomous commercial organization on a network basis. With the help of p2p technology, it is possible to radically reorganize the structure of organization and management, and reduce the management and transaction costs inherent in the traditional hierarchical structure of the firm. The analysis of the steps by means of which real enterprises can be transferred to the blockchain is provided, and the role of smart contracts is analyzed.

André Luis Leite F. Sales, Flávio Fernandes Fontes, Sílvio Yasui

Abstract Even though “militancy” is frequently used in scientific literature and in the daily life of parties and social movements, there are few definitions of the term. Our goal is to convert the idea of militancy into a research problem. A Brazilian scientific literature review shows that the term is used either as an adjective, either as a noun. We conceptualize militancy as a methodology to produce collective action aiming to intervene, or to interfere, in current social norms. This methodology focuses on organizations such as parties and unions, characterized by strict discipline that aims to produce docility, commitment, and obeisance. Then, we show how New Social Movements (NSM) have created unconventional tactics and organizations, offering an alternative to the militant methodology. Organizing teams using horizontal arrangements, operating with decentralized and autonomous networks, recognizing the diversity of its participants, NSM are occupying the streets and reinventing the repertoires of collective action and protest. We suggest the use of the word “activism” to describe this methodology. By distinguishing militancy from activism we wish to re(frame) some problems in the Brazilian scene of political engagement and protest.

Joseph Wall, D. Larry Crumbley, Lewis B. Kilbourne, Caleb Blair

In this report, the authors discuss cryptocurrencies — especially bitcoin — and argue that because the IRS lists them as property, they are taxable, and because they are not as anonymous as once thought, they are not free from fraud. Cryptocurrencies are digital assets used as a medium of exchange, but they are not really coins. They can be sent electronically from one entity to another almost anywhere in the world with an internet connection. There are many cryptocurrencies in the market, including bitcoin, ethereum, ethereum classic, litecoin, nem, dash, iota, bitshares, monero, neo, and ripple. Many of the cryptocurrency networks are not controlled by a single entity or company; instead, a decentralized network of computers keeps track of the currency using a token ID. A ledger maintains a continuously growing list of date stamped transactions in real time called “blocks.” This technology is known as blockchain, which records, verifies, and stores transactions without a trusted central authority. The network instead relies on decentralized autonomous organizations (DAOs) with uncertain legal standing.

Mitri Kitti

No abstract is available for this record.

Srirath Goi Gohwong

This article focused on the investigation of the big picture of top 20 cryptocurrencies for preparing readiness of Thais and inventing the first cryptocurrency for Thais. Documentary research and descriptive statistics like mean and standard deviation were used in this study. The findings stated that cryptocurrecies were mostly developed their products in the stage of fully working product with their own blockchain (native blockchain). C was mostly used as key languages. Decentralized Application (DAPPS), online payment without third party, and Smart Contract were key usages with proof-in-a-consensus, mostly done by Proof-of work (PoW), Proof-of-Stake (PoS) and the hybrid of PoW and PoS, Proof-of Activity (PoA). Finally, the average of block time was 3.25 minutes whereas 70,608.8 transactions per second was in average.

Floarea Nãstase, Andrei Marius Mihalache, Paul Dan Marinescu, Ionut Minciuna

The Internet of Things (IoT) pervades any device that has or that can be upgraded with an Internet connection capability. IoT has become a key concept linking uniquely identifiable things to their virtual representations over the Internet. Currently, this approach has spread widely throughout most of areas, enterprises or groups of people, on the thriving express lane provided by IPv6 protocol. This newer version of IP has more than enough addresses, about 3.4*10^38 addresses to serve all IP networking needs for the foreseeable future when more than twenty-four billion smart things will be connected by 2020. As we move from www (static pages web) to web2 (social networking web) to web3 (ubiquitous computing web), the need for data-on-demand using sophisticated intuitive queries increases significantly.

Venera Shaydullina

This article presents the main economic and legal approaches to determining the status of the cryptocurrency. It is proved that the establishment of effective regulation of the crypto currency is impossible without an understanding of its economic nature. Cryptocurrency is regarded as a currency (digital or virtual currency, analogue of the currency, money), as a universal financial instrument, commodity (property, asset, property), money surrogate. There are the main conceptual recommendations for the regulation of the cryptocurrency as a new economic and legal phenomenon.

Kee-Youn Kang, Seungduck Lee

No abstract is available for this record.

Jabotinsky, Y Hadar

No abstract is available for this record.

Hanna Hałaburda, Guillaume Haeringer

No abstract is available for this record.

Kamwoo Lee, Sinan Ulkuatam, Peter A. Beling, William T. Scherer

In this paper, we present a novel method to predict Bitcoin price movement utilizing inverse reinforcement learning (IRL) and agent-based modeling (ABM). Our approach consists of predicting the price through reproducing synthetic yet realistic behaviors of rational agents in a simulated market, instead of estimating relationships between the price and price-related factors. IRL provides a systematic way to find the behavioral rules of each agent from Blockchain data by framing the trading behavior estimation as a problem of recovering motivations from observed behavior and generating rules consistent with these motivations. Once the rules are recovered, an agent-based model creates hypothetical interactions between the recovered behavioral rules, discovering equilibrium prices as emergent features through matching the supply and demand of Bitcoin. One distinct aspect of our approach with ABM is that while conventional approaches manually design individual rules, our agents' rules are channeled from IRL. Our experimental results show that the proposed method can predict short-term market price while outlining overall market trend.

Michael S. Pagano, John Sedunov

No abstract is available for this record.

Peder Østbye

Bitcoin and many other cryptocurrencies have currency-caps implemented in their protocols. Bitcoin is capped at approximately 21 million bitcoins. These protocols are complied by consenting operators. This paper discusses whether such currency-caps are illegal quantity-fixing conspiracies in violation of antitrust law. It is found that there is a present antitrust risk for cryptocurrency operators. This may render such operators subject to criminal and civil liabilities.

Hyungmin Cho

Blockchain technology rapidly gained popularity based on its open and decentralized operation. Consensus protocol is the core mechanism of a blockchain network that securely maintains the distributed ledger from possible attacks from adversaries. Proof-of-work (PoW) is a commonly used consensus protocol that requires a significant amount of computation to find a new valid block. As the application-specific integrated circuits (ASICs) that are specially designed for PoW computation begin to dominate blockchain consensus operation, the decentralized nature of blockchain networks is being threatened. Many PoW mechanisms are being proposed to disincentivize the use of ASICs in the consensus operation. Employing multiple hash functions in the PoW computation (i.e., multi-hash PoW) is one of the commonly adopted approaches to achieve such ASIC-resistance. In this paper, we experimentally evaluate the level of ASIC-resistance of the multi-hash PoW mechanisms. We assess the level of ASIC-resistance based on the performance gap between ASICs and general-purpose computing platforms. Contrary to the expectation of the multi-hash PoW mechanisms, our results reveal that ASIC-resistance of these PoW mechanisms is not strong enough to prevent ASIC-based mining. Most of them show similar levels of ASIC-resistance as those of PoW mechanisms that are already defeated by ASIC-based systems.

Aleksandr Lanko, Nikolai Vatin, Artūras Kaklauskas

Nowadays, almost none of the fields of human activity can do without supply chain management. In addition, implementation of one in construction companies contributes to major economic benefits. The article considers the application feasibility of blockchain in logistics of construction materials through the usage of RFID technology. An example of introduction to the process of manufacturing and delivery of ready-mixed concrete is given. The main advantages, shortcomings, perspectives, as well as difficulties arising in the implementation of blockchain technology in the construction industry are described. Special attention is paid to the applicability of these technologies.

Eli Ben‐Sasson, Iddo Bentov, Yinon Horesh, Michael Riabzev

The family of Reed-Solomon (RS) codes plays a prominent role in the construction of quasilinear probabilistically checkable proofs (PCPs) and interactive oracle proofs (IOPs) with perfect zero knowledge and polylogarithmic verifiers. The large concrete computational complexity required to prove membership in RS codes is one of the biggest obstacles to deploying such PCP/IOP systems in practice. To advance on this problem we present a new interactive oracle proof of proximity (IOPP) for RS codes; we call it the Fast RS IOPP (FRI) because (i) it resembles the ubiquitous Fast Fourier Transform (FFT) and (ii) the arithmetic complexity of its prover is strictly linear and that of the verifier is strictly logarithmic (in comparison, FFT arithmetic complexity is quasi-linear but not strictly linear). Prior RS IOPPs and PCPs of proximity (PCPPs) required super-linear proving time even for polynomially large query complexity. For codes of block-length N, the arithmetic complexity of the (interactive) FRI prover is less than 6 * N, while the (interactive) FRI verifier has arithmetic complexity <= 21 * log N, query complexity 2 * log N and constant soundness - words that are delta-far from the code are rejected with probability min{delta * (1-o(1)),delta_0} where delta_0 is a positive constant that depends mainly on the code rate. The particular combination of query complexity and soundness obtained by FRI is better than that of the quasilinear PCPP of [Ben-Sasson and Sudan, SICOMP 2008], even with the tighter soundness analysis of [Ben-Sasson et al., STOC 2013; ECCC 2016]; consequently, FRI is likely to facilitate better concretely efficient zero knowledge proof and argument systems. Previous concretely efficient PCPPs and IOPPs suffered a constant multiplicative factor loss in soundness with each round of "proof composition" and thus used at most O(log log N) rounds. We show that when delta is smaller than the unique decoding radius of the code, FRI suffers only a negligible additive loss in soundness. This observation allows us to increase the number of "proof composition" rounds to Theta(log N) and thereby reduce prover and verifier running time for fixed soundness.

B.T.J. Hooghiemstra, Nienke Smulders, C. van Nieuwenhuizen

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