Blockchain Papers

Renlord Yang

© 2016 Renlord Yang

Percy Venegas

No abstract is available for this record.

Ismael Santiago Moreno

No abstract is available for this record.

Ekaterina Y. Kalmykova, Anna V. Ryabova

Fast development of technologies has led to emergence of the new market – FinTech – which is very attractive for investors today. By now this market has a great number of different concepts: P2P-crediting, E-wallets, Bitcoins, mPOS-acquiring, T-commerce, mobile banks, etc. Many of these tools have already heavily entered our ordinary life. People can obtain any credits through special services on the Internet from other users without participation of banks, pay by credit card using mobile devices, and get information about expenses and incomes according to the card anywhere in the world. Users do not need to go to banks anymore and to spend their time for credit arrangements, currency exchange, to look for ATMs to remove cash. Purchases on the Internet can be paid not only in rubles, but also in new digital currency. These tools make life easier, however, they pose a serious threat for banks. Now, bank institutions should create more convenient and utility services for the clients to keep clients. Therefore, bank and credit systems start to change actively.

Wulf A. Kaal, Erik P. M. Vermeulen

No abstract is available for this record.

Haroldo Malheiros Duclerc Verçosa

Submitted by Tiago Carvalho (ctscarva@stj.jus.br) on 2016-05-06T17:14:10Z No. of bitstreams: 2 breves_consideracoes_economicas_vercosa.pdf: 666801 bytes, checksum: aabcbbd2da9242c2066736eae88a9927 (MD5) license.txt: 1239 bytes, checksum: c9b4c351324448672315a00808efb725 (MD5)

Rita Rahmawati

Giving local government to arrange regional receipt to purchase expenses bugget is part of Regional Otonomy. Not only depend on Central Government, Government genuine Receipt is one regional receipt that shows how stronger local goverment finance can handled all the expenditure. Metro as a local government in Indonesia, has the increase in regional otonomy espescialy in finance. The higher decentralization is a indicatoin that indicate higher ability on local government to fulfill all expenditure. It can be shown on share of Government Genuine Receipt and Tax and non Tax Share compare Total Regional Receipt and Total Regional Expenditure. Higher fiscal Desentralization needed by Metro to get higher Regional otonomy. Government Genuine Receipt and Tax and non Tax must be increased to get higher regional receipt and increasing share in Total Regional Receipt and higher share to offord the Total Regional Expenditure.

Raymond C. W. Leung

This dissertation is a compilation of three papers that investigate the role of optimal contracting in a delegated portfolio management setting. While the study of optimal contracts in classical principal-agent setup has been extensively studied, relatively few have been studied in the context of delegated portfolio management in finance. And even delegated portfolio management papers in finance, there are still several open questions and unresolved issues that are beyond the scope of a standard principal-agent problem. In Chapter 1, I study a continuous-time principal-agent problem with drift and stochastic volatility control. While the problem with drift-only control by an agent has been extensively studied recently, very few existing papers allow an agent to endogenously influence volatility. Endogenous volatility control is particularly important in delegated portfolio management settings as volatility is one of the defining aspects of modern financial portfolio management. In Chapter 2, I study a model that encompasses dynamic agency, delegated portfolio management and asset pricing. Traditionally, the fields of ``asset pricing'' and ``corporate finance'' are studied independently of each other. However, as the modern portfolio management industry blooms in size and influence, the role of the portfolio manager and the contracts that are extended to them arguably has a role in the securities that they invest in, and hence in equilibrium, the asset pricing implications of the market overall. This paper is an attempt to bridge ``asset pricing'' and ``corporate finance'' (specifically interpreted to mean delegated portfolio management contracting) into one. In Chapter 3, I study whether a principal investor is better off delegating most of his money to a single portfolio manager (centralized delegation), as opposed to multiple portfolio managers (decentralized delegation), especially when there is the possible presence of moral hazard. With the size of the hedge fund industry and growing empirical support that moral hazard is a growing risk among hedge fund managers, it becomes imperative to understand when an investor decides to delegate his money, should it be delegated in a more centralized or decentralized fashion.

Peter Korošec

V diplomski nalogi je predstavljen digitalni placilni sistem Bitcoin. Opisana je kriptografija, na kateri je sistem zasnovan. Predstavljeno je delovanje in kratka zgodovina sistema. Vecji poudarek je na oceni anonimnosti pri placevanju z Bitcoinom in na zagotavljanju varnosti pri izvedbi transakcij. V sklopu anonimnosti je opisan nivo prikrivanja identitete, ki ga zagotavlja sistem in dodatni mehanizmi in opozorila, ki so potrebni za anonimno placevanje. V sklopu varnosti so nastete potencialne ranljivosti sistema Bitcoin, izpostavljena je sibka tocka pri sprejemanju hitrih placil, ki napadalcem omogoca izvedbo tako imenovanega double-spending napada. Prakticno je prikazano, kako je možno brez posebnih orodij z odprtokodno programsko opremo, ki jo razvija Bitcoin skupnost sama, izvesti napad.

Viktor Tigerström

The monetary policies of states and systems built upon them do not naturally allow transactions of a very small value, as the transaction costs exceeds the actual value of the transaction. These types of transactions are called micropayments. This is problematic as it removes the possibility to monetize content that has a valuation that is so low that the costs of the transaction exceeds the value of the content. In this thesis we aim to create a system that allows micropayments to monetize low value content. We do so by developing a design theory based on Gregor and Jones conceptual model for design theories within Information Systems research. The system that we develop will use the end users computational power to generate a value, by running a cryptocurrency miner. We present the background knowledge required to fully understand the presented design theory. Within the design theory, we present a theoretical framework to base systems on that enables micropayments through cryptocurrency mining. We also present a developed proof of work prototype that proves the validity of the theoretical framework. Lastly we discuss our design theory. We conclude that the design theory enables transactions of a very low value, such as 0,0001 \\$ cents. Transactions of such small value is not possible with systems built upon states monetary policies. We also conclude that the proposed design theory can be further developed to function independently of cryptocurrency mining. Instead the value for the transaction could be generated through solving complicated problems if institutions are willing to pay for computational power to solve them.

Edouard Cruysmans

No abstract is available for this record.

Panagiota K. Makrichoriti, George Moratis

No abstract is available for this record.

Алексей Чурилов

Cryptocurrencies have become very popular in past few years. At recent time Bitcoin holds a dominant position on cryptocurrency markets. Lots of economists, programmers, bloggers, even lawyers call Bitcoin ?money of the future? or ?a pure means of payment?. But is Bitcoin and cryptocurrencies the money in the classic meaning of this phenomenon? Economic theory identifies money through the role that it plays in society, but can Bitcoin fulfill these functions? This paper discusses the nature of Bitcoin from the economic and legal perspective.Despite all controversies Bitcoin is used in business. Bitcoins and their use are a very actual issue, especially with a high popularity and high cost of Bitcoins. The paper covers the issue of legal status of Bitcoin and how can it be used in business activity, including examination of both advantages, such as ?free advertisement?, simplicity, and other and disadvantages, such as security risks, uncertainty in a legal status, etc. Because of very different approaches to regulation of Bitcoin in different national jurisdictions, therefore this paper is interested in a comparative analysis of a regulation of Bitcoin?s legal status in different national jurisdictions.

Adam Hayes

No abstract is available for this record.

Daniel Bryk Silveira

A revolução tecnológica na área da computação e da Internet trouxe modificações importantes nos mais variados setores da sociedade. Atualmente, a maioria das transações financeiras ocorre virtualmente, nesse contexto surgiu a moeda digital Bitcoin. O conceito desta moeda foi introduzido em 2008 e pode ser descrito como a primeira criptomoeda descentralizada do mundo. As transações em Bitcoin ocorrem sem a necessidade de um intermediário e não dependem da confiança em nenhum emissor centralizado ou instituição financeira. Ao longo deste trabalho serão expostas as características, o funcionamento, as vantagens e desvantagens desta nova moeda, contrastando-a à moeda tradicional de cunho forçado. O objetivo principal é observar se essa nova tecnologia pode ser uma alternativa concorrente aos meios tradicionais, até o ponto de substituir por completo as moedas usadas nos dias de hoje, centralizadas em bancos centrais, ou se a criptomoeda será uma aliada cooperativa à moeda tradicional. Conclui-se que o Bitcoin é no curto e médio prazo uma moeda paralela, ou seja, que coopera e é aliada aos meios tradicionais.

Kelley E. Hashemi

Adaptive control techniques are often avoided in aerospace systems due to stringent plant structural requirements and validation difficulties. This dissertation seeks to broaden the range of aerospace engineering applications that can utilize an adaptive controller through the development of an extended model reference adaptive control (MRAC) design. First, a partitioned control framework is presented that permits the combined use of an adaptive control law and a nonadaptive control law. The partitioned framework is used to shift full control authority away from the adaptive portion of the system. Next, two MRAC variations that can accommodate the nonminimum phase zeros often seen in aerospace applications are discussed for use as the adaptive system. The parallel feedforward compensator approach proposes inclusion of a user--defied fictitious model in parallel with the plant that is designed to make the plant appear nonminimum phase. The surrogate tracking error approach modifies the typical MRAC structure to handle nonminimum phase plants by requiring knowledge of its nonminimum phase zeros. A tracking error convergence proof is provided for this continuous-time MRAC variant. The partitioned design using the surrogate tracking error approach is applied to the control tasks of an experimental, flexible wing aircraft. A simulation is used to demonstrate much improved flight path angle command tracking when compared to use of the aircraft's existing nonadaptive control law, even in the presence of large--scale modeling error. A second simulation is used to show the design applied to flexible motion control of the same aircraft model and exhibits similarly improved performance.

Adobe Systems, Apoorva Ganapathy

Blockchain technology used in transactions of cryptocurrency with machinery & electronic goods deals with keeping the transactions secure by using blockchain technology so that machinery and electronic goods can be bought by cryptocurrencies. Currently, there are transactions from cryptocurrency based on blockchain networks that can be done securely. The name is coined from the arrangement of records. Single records are referred to as blocks. They are also connected in a list known as chains. Transactions on the blockchain network can be kept secure. Cryptocurrencies can be used just like the normal centralized currencies for any kind of transaction on the blockchain network.

Singh Toor Gurbakshish

The evolution of the traditional electricity infrastructure into smart grids promises more reliable and efficient power management, more energy aware consumers and inclusion of renewable sources for power generation. These fruitful promises are attracting initiatives by various nations all over the globe in various fields of academia. However, this evolution relies on the advances in the information technologies and communication technologies and thus is inevitably prone to various risks and threats. Even though many solutions have been proposed in the recent literature to overcome the security threats in smart grid networks, many issues still need to be addressed to make smart grids a reliable and efficient innovation. In this thesis, we first introduce the background, network architecture, security threats and the security requirements of smart grid networks. Our work focuses on the security aspects of Neighborhood Area Network (NAN) subsystems of smart grid. We present some of the prominent threats and attacks, specific to this subsystem, which violate the specific security goals requisite for its reliable operation. The proposed solutions and countermeasures for these security issues presented in the recent literature have been deeply reviewed to identify the promising solutions with respect to the specific security goals. Then we propose an improved VI dynamic key refreshment strategy for mesh security in the NAN and an authentication scheme based on software defined network (SDN) using dynamic one-way accumulators. The proposed dynamic key refreshment scheme can protect the mesh network system based on IEEE 802.11s standard from DoS attacks during the key refreshment whereby the intruder could launch the attack using the information from previous key refreshment cycle as proposed in the original key refreshment scheme. The use of simple hash based operation makes the scheme cost effective for the resource limited network devices. The proposed scheme also adds an enhancement to the sub-protocol of the original key refreshment scheme for enhanced security and reliability. The proposed SDN based authentication scheme employs one-way dynamic accumulators combined with zero-knowledge proofs for easy and cost efficient authentication process. The availability of the cross authentication among different NAN devices enables us to replicate the mesh network architecture. Using SDN as the backbone of the scheme helps us accommodate the advances of the upcoming wireless technologies where we can update the changes in the scheme conveniently. Our analysis shows that the proposed schemes can achieve the requisite authentication while withstanding multiple attacks and the balance between security and system performance is also achieved.

Zhengrui Qin

A cyber-physical system (CPS) is a sensing and communication platform that features tight integration and combination of computation, networking, and physical processes. In such a system, embedded computers and networks monitor and control the physical processes through a feedback loop, in which physical processes affect computations and vice versa. In recent years, CPS has caught much attention in many different aspects of research, such as security and privacy. In this dissertation, we focus on supporting security in CPS and its communication networks. First, we investigate the electric power system, which is an important CPS in modern society. as crucial and valuable infrastructure, the electric power system inevitably becomes the target of malicious users and attackers. In our work, we point out that the electric power system is vulnerable to potential cyber attacks, and we introduce a new type of attack model, in which an attack cannot be completely identified, even though its presence may be detected. to defend against such an attack, we present an efficient heuristic algorithm to narrow down the attack region, and then enumerate all feasible attack scenarios. Furthermore, based on the feasible attack scenarios, we design an optimization strategy to minimize the damage caused by the attack. Next, we study cognitive radio networks, which are a typical communication network in CPS in the areas of security and privacy. as for the security of cognitive radio networks, we point out that a prominent existing algorithm in cooperative spectrum sensing works poorly under a certain attack model. In defense of this attack, we present a modified combinatorial optimization algorithm that utilizes the branch-and-bound method in a decision tree to identify all possible false data efficiently. In regard to privacy in cognitive radio networks, we consider incentive-based cognitive radio transactions, where the primary users sell time slices of their licensed spectrum to secondary users in the network. There are two concerns in such a transaction. The first is the primary user's interest, and the second is the secondary user's privacy. to verify that the payment made by a secondary user is trustworthy, the primary user needs detailed spectrum utilization information from the secondary user. However, disclosing this detailed information compromises the secondary user's privacy. to solve this dilemma, we propose a privacy-preserving scheme by repeatedly using a commitment scheme and zero-knowledge proof scheme.

Björn Eriksson

Bitcoin is a cryptocurrency that has been the focus of a lot of discussions lately and has attracted a large number of users. Its offers many possibilities for cheap transactions and unregulated finances which has been realized in numerous sites and applications on the web and in mobile phones. One medium that seem to have been neglected when it comes to Bitcoins development is email. This is curious since Bitcoin by its nature seem to have many properties that would work well with texted messages. The purpose of this study it to analyze the current papers about Bitcoin to find the current status of email based Bitcoin services, and try to analyze if email as a tool is a suitable medium to be used with Bitcoin. This analyze is done through a systematic literature review of current papers, followed by an examination of past and current Bitcoin companies that has used email as part of their service. In the end the results suggested that the low security in email, and the apparent lack of services that would benefit from an email based Bitcoin service suggest that a service like that would be hard to develop today and not very useful to the public.

René Zahrte

Die vorliegende Bachelorarbeit gibt einen Uberblick uber die Funktionsweise und Auswirkungen der Blockchain-Technologie auf den Wertpapierhandel. Dabei werden zunachst die essentiellen, technischen Grundlagen der Kryptografie und Dezentralisierung am Beispiel der fuhrenden Kryptowahrung Bitcoin untersucht. Danach werden die gewonnenen Erkenntnisse mit einer SWOT-Analyse auf den Wertpapierhandelsprozess angewandt und es wird die Implementierung eines Distributed Ledgers auf Chancen und Risiken fur die Finanzmarkte hin evaluiert. Als Essenz der Literaturauswertung ist festzustellen, dass die Starken der DLT nur nach Einigung auf einen technischen Marktstandard voll abgeschopft werden konnen. Die Basis der Bachelorarbeit sind aktuelle Studien und Arbeitspapiere von Regulierungsbehorden, Beratungsunternehmen und Finanzdienstleistern aus Europa und den USA zur Auswirkung der Distributed Ledger Technology auf den Wertpapierhandel sowie die Fachbucher und Arbeitspapiere von Narayanan (2016) und Nakamoto (2008) zur Funktionsweise der Blockchain-Technologie. Durch die Verknupfung von Informationstechnologie und Finanzwirtschaft erhofft sich der Autor einen interdisziplinaren Erkenntnisgewinn uber aktuelle Entwicklungen auf den Finanzmarkten.

Adam Johnson, R. Saylor Breckenridge, Kara Lucord

The original purpose of this project was to research the capabilities of a relatively new cryptocurrency platform known as Ethereum. Extensive research brought to light Ethereum’s wide range of developmental capabilities and shifted our focus to the consideration of how the features that Ethereum offers can be used to improve some of the flaws within the world of cryptocurrency. Some cryptocurrency users find these systems useful, because it gives them a means of anonymity. This makes it pretty easy to launder money, make illegal purchases, and double spend. Our solution solves all of these issues, by tying a digital currency transaction to a specific purchase in a secure, untouchable, immutable means due to the blockchain’s proof of work. This solution was implemented through use of both blockchain technologies and a programmable “contract.” This contract adds additional data to cryptocurrency transactions. Our contract creates fields and storage that users can use to input dates, product numbers, product names, and notes that are directly associated with their transaction. Once these fields along with a transaction are deployed onto the blockchain, the information can be accessed using the definition or signature of the contract and the address on the block chain to which it is located. This adds the ability to claim warranty, check inventory, catch double spending instances, prevent black market spends, and help many other scenarios because there exists a publicly available proof of the purchase.

Shi Chen, Cathy Chen, TM Lee, Bobby Ong

No abstract is available for this record.

Jong Ho Hwang

No abstract is available for this record.