IOTA Tangle is a distributed ledger technology (DLT), primarily designed for Internet-of-Things (IoT) networks and applications. IOTA Tangle utilizes a direct acyclic graph (DAG) structure for the ledger, with its protocol offering features attractive to the IoT domain, over most blockchain alternatives, such as feeless transactions, higher achievable transactions per second (TPS), and lower energy consumption. The original IOTA implementation relied on a bootstrap centralized coordinator solution for consensus which limited its degree of decentralization and scalability. This concern, alongside other limitations to its adoption, such as lack of smart contracts, are being addressed with the release of IOTA 2.0. This update brings with it significant changes in order to remove the coordinator and achieve a scalable decentralized solution. To this end, this paper provides a technical overview of the key features of IOTA 2.0 while discussing their relevance and benefits for the wider IoT ecosystem. The paper also provides performance insights and future research directions for IOTA 2.0.
Marin Jovanovic, Nikola Kostić, Ina M. Sebastian, Tomaz Sedej
The proliferation of blockchain-based platform ecosystems in recent years has prompted scholars across various disciplines to explore the conditions leading to their successful deployment. However, developing a blockchain-based platform ecosystem creates various challenges for the platform sponsor that may influence industry-wide adoption and, ultimately, the platform's success. This study follows the development of TradeLens, a leading global shipping platform ecosystem underpinned by blockchain technology. We examine the factors affecting industry-wide adoption among global supply chain actors by unpacking platform value drivers and platform governance mechanisms identified at TradeLens. While the platform value hinges on the digitalization of workflows and the ecosystem leverage, the platform governance includes strategic (off-chain), technology (on-chain), and interoperability (on- and off-chain) governance – as mechanisms for effectively managing a blockchain-based platform ecosystem. This paper contributes to the literature on blockchain-based platform ecosystems and the platform literature.
The purpose of this paper was to propose a model that examined a study adopting the technology acceptance model with additional constructs (i.e., innovativeness) and the mediating role of attitude and perceived risk to use the cryptocurrency platform in Thailand. The data were collected through a questionnaire-based survey (456 usable responses) from consumers in Thailand. A two-step SEM approach (i.e., a measurement model and a structural model) was used to analyze the data. The findings showed a significant positive influence of perceived usefulness, perceived ease of use, innovativeness, attitude, perceived risk, and cryptocurrency platform adoption. Moreover, attitude mediated the relationship between perceived usefulness, perceived ease of use, innovativeness, and cryptocurrency platform adoption. Overall, our results showed that the model of perceived usefulness, perceived ease of use, and innovativeness explained 62.9% of the variance in the intention to use the cryptocurrency platform in Thailand. Our study has contributed to the technology acceptance model and highlighted its effectiveness in explaining the adoption of the cryptocurrency platform in Thailand.
Within the past years, enterprise blockchain solutions were frequently developed within different industry consortia. In most cases, this resulted in isolated solutions competing against each other due to similar approaches and goals. Today, decision makers do not necessarily need to establish entirely new blockchain consortia, as established ones already exist, and participation is a considerable way to avoid unreasonable efforts. In this paper, we apply an iterative literature review to identify different factors relevant for practitioners, who face the challenge of joining an existing enterprise blockchain consortium. In a second step, we discuss these factors utilizing supply chain management as a role model. As a main finding, we propose an evaluation framework for the purpose of enterprise blockchain consortium analysis. Additionally, we provide several questions relevant for practitioners during their evaluation stages. With our evaluation framework we contribute to blockchain research, where - despite its high relevance - the topic of consortium evaluation has so far been neglected. We also contribute to research in the field of technology evaluation by proposing and merging five different evaluation dimensions.
Abstract Research Summary This abductive study investigates how management occurs without managerial authority as part of a previously unseen organizational form—the decentralized platform with an independent market value. Our mixed‐methods study of the cryptocurrency industry draws on fuzzy‐set qualitative comparative analyses (QCA) to analyze archival and interview data and offer new theory on how decentralized platforms coordinate activities to grow in an early‐stage, before network effects kick in. We find that, in the absence of a central authority, platforms coordinate activities with three mechanisms, namely decentralized (a) algorithmic coordination, (b) social coordination, and (c) goal coordination. Our QCA treat these mechanisms as explanatory conditions and, using a representative sample of 20 cryptocurrency platforms, reveal which configurations of decentralized coordination mechanisms nurture, or hinder, early‐stage platform growth. Managerial Summary Firms operate around a managerial hierarchy that distributes tasks, resources, information, and rewards to organizational members who pursue common goals as contract‐bound employees. From 2009, a new organizational form, called the “decentralized platform,” emerged and diffused without relying on hierarchy nor managerial authority—and without having to employ anyone. The most prominent decentralized platform, Bitcoin, has millions of users, thousands of contributors, and a market valuation never achieved before by an organization without a CEO nor shareholders. This study explicates how this unprecedented level of organizational decentralization functions in practice. We foreshadow implications for the digital economy, wherein “Web3” innovations, such as non‐fungible tokens and DAOs, have already shifted the orchestrating role played by platforms in capitalist societies.
We study the competition between blockchains in a \emph{multi-chain} environment, where a dominant EVM-compatible blockchain (e.g., Ethereum) co-exists with an alternative EVM-compatible (e.g., Avalanche) and an EVM-incompatible (e.g., Algorand) blockchain. While EVM compatibility allows existing Ethereum users and developers to migrate more easily over to the alternative layer-1, EVM incompatibility might allow the firms to build more loyal and ``sticky'' user base, and in turn a more robust ecosystem. As such, the choice to be EVM-compatible is not merely a technological decision, but also an important strategic decision. In this paper, we develop a game theoretic model to study this competitive dynamic, and find that at equilibrium, new entrants/developers tend to adopt the dominant blockchain. To avoid adoption failure, the alternative blockchains have to either (1) directly subsidize the new entrant firms or (2) offer better features, which in practice can take form in lower transaction costs, faster finality, or larger network effects. We find that it is easier for EVM-compatible blockchains to attract users through direct subsidy, while it is more efficient for EVM-incompatible blockchains to attract users through offering better features/products.
Joaquín Delgado Fernández, Tom Barbereau, Orestis Papageorgiou
With advancements in distributed ledger technologies and smart contracts, tokenized voting rights gained prominence within decentralized finance (DeFi). Voting rights tokens (a.k.a. governance tokens) are fungible tokens that grant individual holders the right to vote upon the fate of a project. The motivation behind these tokens is to achieve decentral control within a decentralized autonomous organization (DAO). Because the initial allocations of these tokens is often undemocratic, the DeFi project and DAO of Yearn Finance experimented with a fair launch allocation where no tokens are pre-mined and all participants have an equal opportunity to receive them. Regardless, research on voting rights tokens highlights the formation of timocracies over time. The consideration is that the tokens’ tradability is the cause of concentration. To examine this proposition, this article uses an agent-based model to simulate and analyze the concentration of voting rights tokens post three fair launch allocation scenarios under different trading modalities. The results show that regardless of the allocation, concentration persistently occurs. It confirms the consideration that the ‘disease’ is endogenous: the cause of concentration is the tokens’ tradability. The findings inform theoretical understandings and practical implications for on-chain governance mediated by tokens.
Background: The adoption of and improvements in new technology in the South African capital market historically led to increased trade capacity and liquidity, which may be linked to the growth in market size.Aim: In this study the aim is to investigate factors that will influence the adoption of blockchain technology in the South African clearing and settlement industry.Methods: In this study semi-structured interviews to collect data among stakeholders in the clearing and settlement cycle/process of securities in the South African capital market are employed. Participants were identified through a combination of purposive, snowball sampling and targeted sampling using social media. Data were analysed using thematic data analysis with the aid of Atlas.ti software.Setting: The South African capital market, with specific focus on the clearing and settlement of equity.Results: This study identifies People, Organisation, Technology, Industry and Country (POTIC) as factors important in influencing blockchain technology adoption in South Africa. The study expands and contributes to traditional frameworks for adopting blockchain technology in the South African clearing and settlement industry by adding five factors: trust, load shedding, unemployment/layoffs, current infrastructure, useful life and educational campaigns.Conclusion: The POTIC framework will be beneficial to the Johannesburg Stock Exchange (JSE) and Shares Transactions Totally Electronic (STRATE) when considering the adoption of blockchain technology for the integration of trade, execution and post-trade services to reduce the settlement cycle. In addition, when regulators need to formulate new regulations they will benefit from considering the POTIC framework.
While previously a nascent theoretical construct, decentralized autonomous organizations (DAO) have grown rapidly in recent years. DAOs typically emerge around the management of decentralized financial applications (DeFi) and thus benefit from the rapid growth of innovation in this sector. In response, global regulators increasingly voice the intent to regulate these activities. This may impose an excessive compliance burden on DAOs, unless they are deemed sufficiently decentralized to be regulated. Yet, decentralization is an abstract concept with scarce legal precedence. We investigate dimensions of decentralization through thematic analysis, combining extant literature with a series of expert interviews. We propose a definition of “sufficient decentralization” and present a general framework for the assessment of decentralization. We derive five dimensions for the assessment of decentralization in DAOs: Token-weighted voting, Infrastructure, Governance, Escalation and Reputation (TIGER). We present a discretionary sample application of the framework and five propositions on the future regulation and supervision of DAOs. We contribute new practical insights on the topic of compliance and decentralized organizations to the growing discourse on the application of blockchain technology in information systems (IS) and management disciplines.
This study examines Kenyan youths' level of knowledge and involvement in the cryptocurrency industry. Digital currencies, known as cryptocurrencies, use a peer-to-peer technology to speed up internet transactions. The idea of cryptocurrencies started in the 1980s but has since developed significantly. The study collected secondary data and conducted online surveys. In this study, panel data from four different cryptocurrencies' values, transaction fees, and volumes over a six-year period were studied. The findings indicate a connection between the number of cryptocurrency transactions, their prices, and their transaction costs. The research also demonstrates how much the youth in Kenya are aware of and use cryptocurrencies. This paper also highlights some factors that may be considered when engaging in crypto business. It also highlights some of the principal properties of cryptos. The study concludes that there is a need for both local and international regulation of the cryptocurrency market to boost investor confidence and improve security.
In our rapidly globalizing and digitalizing world, data transfer can be done quickly in multimedia, communication, computer systems, etc. On the other hand, a blockchain database is a technology that allows us to transfer assets such as digital money that we attribute value to. This technology, which eliminates centralization and distributes reliability and transparency among all users, is also known as the technology under virtual currencies such as Bitcoin and Ethereum. El-Salvador is the first country to accept Bitcoin as a legal currency. It is one of the most fundamental issues to wonder how this will affect the economy of El-Salvador and the spread of financial services to all members of society. In this study, it is examined how the process of accepting Bitcoin as legal money has an effect on the economy of El-Salvador and the percentage of people's access to financial services. Although there is not a great background to make an empirical assessment on the subject, it seems that a large part of the society has started to use Bitcoin through the official mobile application of the state. It is seen that even citizens who did not have a bank account before can access financial services with this method. In addition, the rapid increase in the investments coming to the country due to the tax advantages provides a great added value for the country's economy.
Sina Rafati Niya, Simon Bachmann, Claudio Brasser, Michael Bucher · 6 authors
Abstract Event tickets being sold in their electronic instances are subject to counterfeiting, profiteering, and black markets. Therefore, suitable service management mechanisms are required to overcome such deficits. This work designs, develops, and evaluates the approach of a Decentralized Ticketing platform—called DeTi—for managing the distribution of electronic event tickets and “regulating” the aftermarket. DeTi offers a dedicated service management functionality by operating through Smart Contracts of Ethereum, such that users can verify tickets’ validity for a given event. Especially, a new mechanism for users to detect fraudulent events is introduced, too. The evaluation performed indicates that DeTi invalidates or validates tickets efficiently via its decentralized and BC-based service management approach. By securing technically a set of underlying processes, DeTi obviates forging, replication, and scalping of tickets, allowing for a well-managed resale ecosystem of tickets based on and limited to the organizers’ initial pricing.
Selina Demi, Mary Sánchez‐Gordón, Monica Kristiansen
Abstract Blockchain technology has emerged as a “disruptive innovation” that has received significant attention in academic and organizational settings. However, most of the existing research is focused on technical issues of blockchain systems, overlooking the organizational perspective. This study adopted a grounded theory to unveil the blockchain implementation process in organizations from the lens of blockchain experts. The results revealed three main categories: key activities, success factors, and challenges related to blockchain implementation in organizations, the latter being identified as the core category, along with 17 other concepts. Findings suggested that the majority of blockchain projects stop at the pilot stage and outlined organizational resistance to change as the core challenge. According to the experts, the following factors contribute to the organizational resistance to change: innovation–production gap, conservative management, and centralized mentality. The study aims to contribute to the existing blockchain literature by providing a holistic and domain‐agnostic view of the blockchain implementation process in organizational settings. This can potentially encourage the development and implementation of blockchain solutions and guide practitioners who are interested in leveraging the inherent benefits of this technology. In addition, the results are used to improve a blockchain‐enabled requirements traceability framework proposed in our previous paper.
Payment channel networks (PCNs) enhance the scalability of blockchains by allowing parties to conduct transactions off-chain, i.e, without broadcasting every transaction to all blockchain participants. To conduct transactions, a sender and a receiver can either establish a direct payment channel with a funding blockchain transaction or leverage existing channels in a multi-hop payment. The security of PCNs usually relies on the synchrony of the underlying blockchain, i.e., evidence of misbehavior needs to be published on the blockchain within a time limit. Alternative payment channel proposals that do not require blockchain synchrony rely on quorum certificates and use a committee to register the transactions of a channel. However, these proposals do not support multi-hop payments, a limitation we aim to overcome. In this paper, we demonstrate that it is in fact impossible to design a multi-hop payment protocol with both network asynchrony and faulty channels, i.e., channels that may not correctly follow the protocol. We then detail two committee-based multi-hop payment protocols that respectively assume synchronous communications and possibly faulty channels, or asynchronous communication and correct channels. The first protocol relies on possibly faulty committees instead of the blockchain to resolve channel disputes, and enforces privacy properties within a synchronous network. The second one relies on committees that contain at most f faulty members out of 3f+1 and successively delegate to each other the role of eventually completing a multi-hop payment. We show that both protocols satisfy the security requirements of a multi-hop payment and compare their communication complexity and latency.
Abstract: Today’s OSNs are controlled by major companies such as Facebook, Instagram and Twitter who have complete control over user data. These companies store the user data in a centralized server which.This has several issues. For example, if their servers go down there no backup copies might be available and the chances of getting hacked are more in a centralized architecture. These companies can also censor the contents and post targeted ads in the user feeds. To overcome the drawbacks of the centralized OSNs, in this paper we are implementing a decentralized social media with the help of Ethereum smart contracts. Here, the data is not stored in a centralized server and the major disadvantages of centralized servers can be overcome by this approach.
The aim of this paper is to analyze how the governance of an enterprise blockchain ecosystem changes as it matures and increases in size. A review of the literature serves to identify five behavioral drivers of governance, which appear to affect the long-term viability of a blockchain ecosystem: access rights, decision rights, incentives, accountability, and conflict resolution. We subsequently report the findings from a comparative case study of how three large blockchain ecosystems implemented various governance mechanisms to exploit and modify the five behavioral drivers over time. Based on twenty-six interviews and approximately 200 h of participant observations, we propose an analytical framework that consists of three distinctive stages in the life cycle of a blockchain ecosystem. Each stage is characterized by an intricate relationship between off-chain and on-chain governance mechanisms. Based on these findings, various recommendations are provided to increase the long-term viability of blockchain ecosystems.
rmation, and the adoption of certain business models in the context of the maritime trade supply chain industry. Most specifically, it enquires the impact that the former might have on the latter. The question’s relevance is twofold. On the one hand, the pace of both technological and business innovation has accelerated during the last 15 years, especially for certain industries. On the other hand, while there has been some degree of innovation in maritime trade supply chains, the industry lags behind other economic sectors; still working with technologies, business models and processes that predate the contemporary globalization era. Thus, understanding how and why the adoption of certain technologies might generate new ways of creating, delivering and capturing value in maritime trade supply chains, becomes a significant undertaking from both a theoretical and practical perspective. To address this enquiry, we have conducted four separate studies in this dissertation. In Chapter 2, we conduct a theoretical synthesis in order to provide a general theoretical background for the research conducted in the subsequent chapters. Chapter 3 is mainly concerned with physical flows. We investigate what impact does the adoption of Industry 4.0 technologies by seaports might have on their business models. To define these, we refer to the classification of seaports across a generational ladder: from 1st generation to 5th generation ports; referring as well to the novel construct of Port 4.0, and the commonly used “smart port” term. In Chapter 4 we turn to information flows. Most specifically, we explore the influence that distributed ledger technology (DLT) —most commonly known as blockchain— might have on the adoption of sustainable business models in the shipping industry. Chapter 5 focus on financial flows. It presents a design science study on a problem known as the trade finance gap; understood as the difference between the total supply of and demand for trade finance in international trade on a global level. The main question addressed is how to design a new business model that would address the causes behind the said trade finance gap. To conclude, this dissertation explores how digital transformation affects or impacts business models in maritime trade supply chains. It does so, by conducting studies on different contexts, each of them primarily focused on either physical, information or financial flows. From a theoretical perspective, the dissertation provides insights on the interplay between the three flows in maritime trade; with a special focus on how digital transformation, by affecting this interplay, drives or contributes to the adoption of new business models. Most specifically, Industry 4.0 technologies like IoT or DLT improve the way information flows interact with physical and financial flows. From a practical/managerial perspective, the research provides useful insights for business executives and policy makers, on how digital transformation should be faced at the strategic, tactical and operational level. By understanding how new technologies affect the ways in which value is created, delivered and captured, decision makers can design better business models, increasing competitiveness; or implement more adequate policies and strategies. Most importantly, the dissertation aims to serve as a source of ideas for those entrepreneurs who, through their startups, will design and develop innovative use cases and business models for the maritime industry. Aquesta investigació doctoral explora la interrelació entre els fenòmens contemporanis coneguts com a transformació digital i l’adopció de certs models de negoci en el context de la indústria de la cadena de subministrament del comerç marítim. Més concretament, indaga sobre l’impacte que els primers poguessin tenir sobre la segona. La rellevància de la pregunta és doble. D’una banda, el ritme de la innovació tant tecnològica com empresarial s’ha accelerat durant els darrers 15 anys, especialment per a determinades indústries. D’altra banda, si bé hi ha hagut cert grau d’innovació a les cadenes de subministrament del comerç marítim, la indústria va darrera d’altres sectors econòmics; segueix treballant amb tecnologies, models de negocis i processos anteriors a l’era de la globalització contemporània. Per tant, comprendre com i per què l’adopció de certes tecnologies pot generar noves maneres de crear, distribuir i capturar valor a les cadenes de subministrament del comerç marítim es converteix en una tasca important tant des d’una perspectiva teòrica com pràctica. Per indagar-hi, hem realitzat quatre estudis en aquesta dissertació. Al Capítol 2, duem a terme una síntesi teòrica per tal de proporcionar un marc teòric general per a la recerca realitzada en els capítols següents. El capítol 3 s’ocupa principalment dels fluxos físics. Investiguem quin impacte podria tenir l’adopció de tecnologies Indústria 4.0 per part dels ports marítims als seus models de negoci. Al Capítol 4 passem als fluxos d’informació. Més específicament, explorem la influència que la tecnologia de distributed ledger (DLT), més comunament coneguda com a blockchain, podria tenir en l’adopció de models de negoci sostenibles a la indústria del transport marítim. El capítol 5 se centra en els fluxos financers. Presenta un estudi de disseny sobre un problema conegut com la bretxa de finançament del comerç (trade finance gap); entès com la diferència entre l’oferta i la demanda total de finançament al comerç internacional a nivell global. Per concloure, aquesta dissertació explora com la transformació digital afecta o impacta els models de negoci a les cadenes de subministrament del comerç marítim. Ho fa mitjançant la realització d’estudis sobre diferents contextos, cadascun centrat principalment en els fluxos físics, d’informació o financers. Des d’una perspectiva teòrica, la dissertació proporciona informació sobre la interacció entre els tres fluxos al comerç marítim; amb un enfocament especial com la transformació digital, en afectar aquesta interacció, impulsa o contribueix a l’adopció de nous models de negoci. Més específicament, les tecnologies d'industria 4.0 com IoT o DLT milloren la manera com els fluxos d’informació interactuen amb els fluxos físics i financers. Des d’una perspectiva pràctica/gerencial, la recerca proporciona informació útil per als executius de negocis i els dissenyadors de polítiques sobre com cal enfrontar la transformació digital a nivell estratègic, tàctic i operatiu. En comprendre com les noves tecnologies afecten les formes en què es crea, distribueix i captura el valor, els prenedors de decisions poden dissenyar millors models de negoci, augmentant la competitivitat; o implementar polítiques i estratègies més adequades. El que és més important, la dissertació té com a objectiu servir com a font d’idees per als emprenedors que, a través de les startups, dissenyaran i desenvoluparan casos d’ús innovadors i models de negoci per a la indústria marítima. Esta investigación doctoral explora la interrelación entre los fenómenos contemporáneos conocidos como transformación digital y la adopción de ciertos modelos de negocio en el contexto de la industria de la cadena de suministro del comercio marítimo. Más concretamente, indaga sobre el impacto que los primeros pudieran tener sobre la segunda. La relevancia de la pregunta es doble. Por un lado, el ritmo de la innovación tanto tecnológica como empresarial se ha acelerado durante los últimos 15 años, especialmente para determinadas industrias. Por otro lado, si bien ha habido cierto grado de innovación en las cadenas de suministro del comercio marítimo, la industria va a la zaga de otros sectores económicos; sigue trabajando con tecnologías, modelos de negocios y procesos que son anteriores a la era de la globalización contemporánea. Por lo tanto, comprender cómo y por qué la adopción de ciertas tecnologías puede generar nuevas formas de crear, distribuir y capturar valor en las cadenas de suministro del comercio marítimo se convierte en una tarea importante tanto desde una perspectiva teórica como práctica. Para indagar sobre ello, hemos realizado cuatro estudios en esta disertación. En el Capítulo 2, llevamos a cabo una síntesis teórica con el fin de proporcionar un marco teórico general para la investigación realizada en los capítulos siguientes. Para ello, comenzamos desarrollando una base bibliográfica, fundamentada en 3 disciplinas: Estudios Marítimos, Ciencias de la Gestión e Investigación de Sistemas de Información. El enfoque central se basa entonces en la construcción de los tres flujos presentes en las cadenas de suministro del comercio marítimo: flujos físicos, de información y financieros. Para cada uno de los flujos nos hacemos tres preguntas básicas: ¿qué? (describiendo el contenido del flujo), ¿cómo? (describiendo los mecanismos), y ¿por qué? (comprender qué impulsa el flujo en cuestión). Para los flujos físicos, nos referimos a su contenido con el término global de “carga”, el mecanismo como multimodalidad y la causa impulsora como producción o consumo. Para los flujos de información, el contenido son datos o información (en sentido estricto), el mecanismo es en papel o electrónico, y la causa impulsora es su rol como recurso para la toma de decisiones. Los flujos financieros se refieren al dinero, que fluye ya sea por medio de pagos o créditos, bajo un modelo de flujo circular como lógica impulsora. Luego, el capítulo ofrece una explicación básica de cómo se integran los tres flujos: los flujos físicos y financieros se basan en intercambios mutuos entre actores a lo largo de la cadena de suministro (que se mueven en direcciones opuestas), mientras que los flujos de información se mueven en ambas direcciones, apoyando a los dos primeros. Finalmente, el capítulo tiene como objetivo contribuir a la comprensión del concepto de
In this article, we consider the roles of tokens and distributed ledgers in digital payment systems. We present a brief taxonomy of digital payment systems that use tokens, and we address the different models for how distributed ledger technology can support digital payment systems in general. We offer guidance on the salient features of digital payment systems, which we comprehend in terms of consumer privacy, token issuance, and accountability for system operators.
Xavier Marjou, Tangui Le Gléau, Vincent Messié, Benoît Radier · 6 authors
Reducing energy consumption is crucial not only to reduce OPEX but also to reduce the human debt to our planet. Over the past few years, most service providers (SPs) have actively tackled this issue, particularly targeting periods of low activity. Indeed, having fewer customers during these periods allows SPs to downsize or shut down part of their infrastructure. But this is not always optimal. Despite multiple energy-efficient optimizations, a mobile national operator (MNO) still need to maintain significant radio access network (RAN) infrastructure active at night. Could MNOs do better by cooperating with each other in such a way that an MNO can redirect its subscribers to a partner MNO, thus allowing its entire infrastructure to be temporarily deactivated while switching roles with the partner during a subsequent drop in activity period? To answer this question, we investigated a novel collaborative framework based on multi-agent reinforcement learning (MARL) allowing for negotiations between SPs as well as trustful reports from a distributed ledger technology (DLT) to evaluate the amount of energy saved. We leveraged it to experiment three different sets of rules (free, recommended, or imposed) regulating the negotiation between multiple SPs (3, 4, 8, or 10). Based on the observation of four cooperation metrics (efficiency, safety, incentive-compatibility, and fairness), the simulations showed that the imposed set of rules proved to be the best mode.
Since its introduction, blockchain technology has been revered, ridiculed, dismissed, embraced, and presently has become too large to ignore, witnessing exponential growth. The obvious indicator of this growth is that research revolving around blockchain technology has already raised competition in the form of directed acyclic graphs and hashgraph, all of which fall under the umbrella of distributed ledger technology (DLT). Segueing on the back of visibly positive effects of competition, we arrive at the essence of our paper. We show that the current competition regimes around the world are inefficient at promoting and maintaining competition around the world, dominated by the behemoth technology enterprises that have successfully monopolized and monetized data, which is indubitably, one of the most important assets in today’s digital age. Data gathered from users fuels the algorithms, machine learning, and artificial intelligence programs employed by these tech giants, which further entrenches their monopolistic hold over cyberspace. Blockchain and DLTs, just like any other technology, pose new threats to the competition law regimes, while also allowing the authorities to utilize the technology themselves to explore new horizons involving smart contracts, Decentralized Autonomous Organizations (DAOs), Web 3.0, and enforce competition more effectively. In our paper, we briefly illustrate the challenges presented before the competition authorities by the assimilation of blockchain in the existing establishments, and how the competition authorities can themselves collude with blockchain stakeholders to take a holistic approach and establish a symbiotic relationship, which ensures that both, survive, prosper, and enhance consumer welfare.
Lars Karbach, Moritz Korte, Nils Orbat, Daniel Muschiol · 5 authors
Games based on a blockchain exist in all variants and facets, mostly as single- or multiplayer games. This chapter deals with the implementation of a multiplayer strategy game (Connect Four), using blockchain technology for decentralized data storage and the entire game logic. The focus is on the use of the decentralized autonomous organization (DAO) principle, for coordination and voting within the teams. The chosen game just stands as an example; other games or gamification approaches in which users can take decisions collaboratively can be used here. A web application was implemented acting as a central interface between players and the blockchain. Hence, it was possible for players to compete against each other in teams and to collectively decide the next move by participating in a roundly voting. With the help of a standardized questionnaire, answered by each player after each match, possible impacts of the voting mechanism on the usability were determined.
The traditional banking functions of lending, deposit-taking and payment intermediation are being unbundled in the new frontiers of money that extend from virtual currencies to crypto-assets and from shadow payments to quasi-money. The possibility for digital-centred change in the financial industry is illustrated by distributed ledger technology, of which ‘blockchain’ is the most prominent example of automated decision-making. Other forms of decentralised supply of money, payment services, and funding processes may allow households and businesses to obtain loans and pool risks without having recourse to financial intermediaries. This article examines the alternative provision of access to low-cost zero-friction payments from the perspective of the underbanked. Promoting innovation through alternatives to credit means integrating vulnerable and excluded customers into mainstream financial systems. Blockchain technology backed by a possible modification of the law on the recognition and transfer of property rights might prove instrumental in unlocking the value of the assets possessed by the underbanked or even the unbanked.
Many services that are taken for granted in smart cities are not even remotely available in dislocated areas yet, due to the lack of or too costly wide area network connectivity. With the aim to offer a practical and secure way to transport data and allow for communications in such constrained scenarios, we focus on the problem of incentivizing to data mules, i.e. devices dedicated to enable the data transfer even in the absence of the Internet. Our solution combines the use of several distributed technologies for verifying the correct behavior of all the partici-pants and incentivize them. We focus on the use of state channels to support the flow of smart-contract-based tokens as a form of payment, in a condition where participants communicate only with others in physical proximity. Furthermore, we validate the viability of the application through the simulation of peer-to-peer interactions between the participants. In this work we achieve positive results in terms of communication latency and percentage of client nodes which are able to benefit from the system.