Blockchain Papers

Cheonjin Park, Byoung Hoon Seok

No abstract is available for this record.

Oleh Harmash, Наталія Трушкіна, Tamila Patlachuk

International Scientific Conference Ensuring sustainable economic development in the context of globalisation challenges : Conference Proceedings (November 1-2, 2024. Kielce, Poland). Riga, Latvia : Baltija Publishing, 204 pages.

Sodiq Adewunmi, Sodiq Adewunmu

No abstract is available for this record.

Neeraj, Shivani Taya, Divya, Anupama, Nidhi Gupta

Bitcoin, introduced in late 2008 and implemented in early 2009, has emerged as the most successful cryptographic currency in history, pioneering the concept of a decentralized global cryptocurrency. Despite its quiet launch, Bitcoin rapidly grew to represent billions of dollars in economic value, leading to extensive analysis and research into its design, properties, vulnerabilities, and future challenges. This paper provides a comprehensive overview of Bitcoin, focusing on its benefits and examining the specific challenges and issues it faces in India. Additionally, the paper highlights the risks associated with investing in Bitcoin. The proposed problem centers on the regulatory, technological, and market challenges that hinder Bitcoin's adoption and stability in the Indian context. The solution involves analyzing these challenges and suggesting strategic measures, such as regulatory frameworks and risk management practices, to enhance the secure and sustainable growth of Bitcoin in India.

Xinyan Jiang

No abstract is available for this record.

Chen Wang, Xu Ke

No abstract is available for this record.

Sean Foley, Yann Thorens, Martin Angerer

No abstract is available for this record.

Diogo Pereira Coelho

No abstract is available for this record.

Evgeny Exter, Milan Radosavljević

Commercial real estate transaction processes are inherently complex, multi-faceted, and multifarious due to multiple intermediaries, a high volume of signed documentation, high costs, and the illiquid nature of these transactions. An emerging area in blockchain technology is smart contracts which hold much potential to transform the commercial real estate industry through the digitalization of decentralized business models that ensure transaction transparency and validity. Despite the potential benefits of smart contracts, their use in the commercial real estate industry is at a nascent stage. In response to this gap, this study proposes a novel approach using Ethereum blockchain technology to enable intermediaries to transact in an informationally symmetrical way within an open real estate in Switzerland. The proposed conceptual model employs tokenisation on the blockchain and is developed using the action design science research methodology. The model undergoes several stages of evolution from pre-design, which is validated through expert interviews, to arrive at the final conceptual design. The study identifies key factors that influence the application of blockchain in real estate transactions, namely adoption, governance and compliance, transaction costs, transparency and immutability, security, and scalability. The results indicate that smart contracts have the potential to significantly reduce transaction costs and improve efficiency in the commercial real estate industry.

Marko Savić, Nikola Pavlović, Aleksandar Stanković

In recent years, a special type of electronic, i.e. digital currency, which is better known as cryptocurrency, has been developed. The increasing use of cryptocurrencies in the world leads to many new opportunities in the world of electronic commerce, and the formation of a completely new, decentralized payment system. Degree of adoption of cryptocurrencies on a global level varies from country to country. In some more developed countries, cryptocurrencies are slowly becoming a regular system for payment of goods and services, so most sites offer the possibility of paying in cryptocurrencies. In our country, that system has not been much developed yet and there are not many sellers who receive cryptocurrency as compensation for sold goods. The goals of this research study are to examine what opportunities cryptocurrency owners have for exchanging cryptocurrencies for traditional money, what opportunities for purchasing goods and services are available to cryptocurrency owners, and which cryptocurrencies are most widely used in the Republic of Serbia.

Nimrah Saeed

No abstract is available for this record.

<p>Wang Lifang</p>

Virtual property, including digital currencies and virtual goods on online platforms, has become an important component of the digital economy. Digital currencies such as Bitcoin and Ethereum are characterized by decentralization and anonymity, possessing both currency attributes and investment tool characteristics. At the same time, virtual goods like in-game equipment and pets carry emotional significance for users and have economic value. However, the legal status of these virtual properties is ambiguous, leading to uncertainty in dispute resolution and protection mechanisms. This article explores the current legal protection status of virtual property, particularly focusing on digital currencies and game-based virtual assets, and emphasizes the need to establish a regulatory framework that adapts to rapid technological changes. The article analyzes the legal attributes of digital currencies and the legal status of virtual goods, proposing that legislation should clarify the legal attributes of virtual property and optimize regulatory mechanisms to promote healthy market development and protect consumer rights.

Liao Zhou

This article explores the application of blockchain technology in accounting and financial information systems, emphasizing its advantages in transparency, security, and efficiency, and proposing challenges that need to be addressed in widespread adoption.The decentralized nature of blockchain technology can revolutionize traditional accounting practices.Through distributed ledger technology, each transaction information is recorded on an immutable blockchain, ensuring the authenticity and traceability of product information.The article also discusses the application of blockchain in agricultural ecological product supply chain management, how to improve transportation safety and reduce logistics costs by improving the transparency and efficiency of information flow.Finally, the article investigates the impact of blockchain on corporate financial risk, using panel data from listed companies from 2019 to 2023 for empirical analysis, and evaluating corporate financial risk through the Z-Score model.

Elisha Blessing

<div xmlns="http://www.tei-c.org/ns/1.0"> The financial industry is undergoing a transformative evolution driven by technological advancements and shifting consumer expectations. "Future Trends and Opportunities: Opportunities for innovation and disruption in the financial industry" provides a comprehensive exploration of key trends shaping the industry's future. From the rise of digital transformation and blockchain to the integration of artificial intelligence and sustainable finance, the abstract highlights the multifaceted opportunities for innovation. Emphasis is placed on enhancing customer experiences, improving operational efficiency, promoting financial inclusion, and addressing the challenges of regulation, cybersecurity, and privacy. The abstract concludes by emphasizing the critical importance of adaptation, continuous innovation, and collaborative efforts between traditional institutions and fintech disruptors to navigate the dynamic landscape and seize the opportunities that lie ahead in the evolving financial ecosystem I. Introduction A. Brief overview of the financial industry B. Importance of innovation and disruption in driving growth C. Purpose of exploring future trends and opportunities II. Current Landscape of the Financial Industry A. Traditional banking and financial services B. Rise of fintech companies C. Emerging technologies (blockchain, artificial intelligence, etc.) D. Regulatory environment and its impact III. Future Trends in the Financial Industry A. Digital transformation and the shift to online platforms 1. Mobile banking 2. Digital wallets 3. Contactless payments B. Blockchain and cryptocurrencies 1. Decentralized finance (DeFi) 2. Central bank digital currencies (CBDCs) 3. Smart contracts C. Artificial Intelligence (AI) and Machine Learning (ML) 1. Robo-advisors 2. Predictive analytics for risk management 3. Chatbots and virtual assistants D. Open banking and API integration 1. Collaboration between traditional banks and fintechs 2. Enhanced customer experience 3. Data sharing and security concerns IV. Opportunities for Innovation and Disruption A. Enhanced customer experience 1. Personalized services 2. Real-time financial insights 3. Seamless onboarding processes B. Improved efficiency and cost savings 1. Automation of repetitive tasks 2. Streamlined back-office operations 3. Enhanced fraud detection and prevention C. Financial inclusion 1. Serving the unbanked and underbanked populations 2. Microfinance and alternative lending solutions D. Sustainable finance 1. ESG (Environmental, Social, Governance) investments 2. Green financing options 3. Social impact investing V. Challenges and Considerations A. Regulatory hurdles B. Cybersecurity concerns C. Privacy and data protection D. Resistance to change in traditional institutions VI. Conclusion A. Summary of key future trends and opportunities B. Importance of adaptation and continuous innovation C. Encouraging collaboration between traditional and new players in the financial industry </div>

Sandhya Sharma, G. Pandi Selvi, Shailaja M L, Arushi Mehta, Aparna Srivastva, Alok Gupta

this is a potentially game-changing development that could come from fusing blockchain technology with IoT and artificial intelligence (AI) to improve the efficiency of smart contracts in the banking industry. We can greatly increase the transparency, security, and efficiency of banking transactions by utilizing the decentralized and rigid nature of blockchain technology, real-time data from Internet of Things (IoT) devices, and artificial intelligence's (AI) intelligent decision-making capabilities. These three things working together make this possible. This paper examines the methods by which these technologies can facilitate operational simplification, fraud reduction, and stakeholder confidence building. The research specifically focused on how these technologies are used. We have out a thorough analysis of numerous fabrics and case studies to highlight the synergistic advantages of this integration. This helps pave the way for it by making a more open and responsible financial environment feasible. By addressing the challenges that are now being encountered and identifying the unspoken pathways that will lead to the deployment of these cutting-edge technologies in the banking institution, this investigation seeks to shed light on the future of financial transactions. We shall conduct this research too.

Madeleine Smith, Cleve Mesidor

No abstract is available for this record.

Mathew Fukuzawa, Brandon M. McConnell, Michael G. Kay, Kristin Thoney-Barletta · 5 authors

Purpose - Demonstrate proof-of-concept for negotiating and executing a small-scale contracting job based on letter of credit within a blockchain network using smart contracts. Design/Methodology/Approach - Using Ethereum smart contracts, we model a small-scale general contracting scenario under perfect conditions. Execution is demonstrated with the Remix Integrated Development Environment (IDE). Findings - We show the feasibility of conducting a small-scale contracting job using smart contracts. The entire process, including job details, payment, and verification, can be conducted digitally. Originality/value - This research continues the efforts of previous research on letters of credit on blockchain but applies it to the general contracting scenario at small scale. Research limitations/implications - Further work is required to investigate variations in the assumptions, such as dishonesty and incompetence. Also, full-scale decentralized application is not explored here. Practical implications - This process expands the scope of current practices and tools, such as Angi, in a decentralized manner with blockchain. Social Implications - Full-scale adoption at the small scale is likely difficult due to disbelief in technology, cost, and resistance to change.

Yogi Yashwanth Gopathi, prof. Amit Joshi

The traditional money transfer system faces disruption with the emergence of blockchain technology.This paper explores how blockchain's decentralized approach revolutionizes speed and efficiency.By eliminating intermediaries and streamlining verification through a distributed ledger, blockchain offers significant improvements.The paper analyses blockchain's underlying principles and explores real-world applications, highlighting its potential to reshape the financial sector.It further examines the challenges and opportunities associated with widespread adoption for money transfer services.By illuminating this technology's transformative potential, the paper contributes to a deeper understanding of its role in creating a faster, more efficient global money transfer system.

Laila Junaid, Kashif Bilal, Junaid Shuja, Abdullateef Oluwagbemiga Balogun · 5 authors

A land administration system (LAS) is a structured framework designed to govern the management of land resources in a specific region or country. However, LAS faces challenges like inefficiencies, a lack of transparency, and susceptibility to fraud. The digitization of land records improved efficiency but failed to address manipulation, centralized databases, and double-spending issues. Traditional lease and mortgage management systems also suffer from complexity, errors, and a lack of real-time validation. At present, a significant influx of land transactions produces substantial data, classifiable as big data due to constant minute-to-minute occurrences like land transfers, acquisitions, document verification, and leasing/mortgaging transactions. In this context, we present a Blockchain-driven system that not only tackles alteration and double-spending issues in traditional systems but also implements distributed data management. Current state-of-the-art solutions do not fully incorporate crucial features of Blockchain, such as transparency, prevention of double-spending, auditability, immutability, and user participation. To tackle this problem, this research introduces a comprehensive Blockchain-powered framework for lease and mortgage management, addressing transparency, user involvement, and double-spending prevention. Unlike existing solutions, our framework integrates key Blockchain characteristics for a holistic approach. Through practical use cases involving property owners, banks, and financial institutions, we establish a secure, distributed, and transparent method for property financing. We verify the system by employing smart contracts and assess the cost and security parameters while validating the blockchain-based mortgage and lease functions.

V. Ram Prasath, P. Tamil Selvan

Fintech, or financial technology, has been upending traditional banking and financial services in recent years with innovations like crowdfunding, robo-advisors, peer-to-peer lending, mobile payments, and more. The present study investigates investor attitudes and perspectives of the key factors that will shape the future of fintech, as the industry continues to grow quickly. We analyse the views of 300 individual and institutional investors on new fintech sectors, including reteach,Insurtech, artificial intelligence/machine learning applications, blockchain, cryptocurrencies, and decentralized financing (DeFi).The results show investors' degrees of experience, perceptions of opportunities and hazards, and plans to allocate more funds to fintech investments in the upcoming years.Investor opinion regarding fintech is influenced by a number of important issues, including regulatory uncertainty, data security and privacy concerns, and the possibility of fintech advancing financial inclusion. Investors are generally cautiously optimistic about fintech's long-term prospects, but they are also concerned about how quickly technology is changing relative to regulation. The study offers financial service providers and fintech companies’ valuable perspectives on how to successfully draw in and interact with investors in this ever-changing environment.

Bahadir K&ouml;ksal

The recent growth in blockchain usage has substantially affected the number of transactions executed via smart contracts. In parallel, the number of transactions will likely increase the number of disputes arising from these smart transactions. Some innovative arbitration platforms have emerged in response to the urgent need for a tailor-made dispute resolution mechanism. These platforms tend to promote the anonymity of arbitrators because of their decentralized nature and secured proceedings. Does the anonymity of arbitrators' identities and skills serve to increase the transparency in smart contract arbitration? And to what extent can the anonymity of arbitrators be sacrificed for more transparent proceedings? These are vital questions because concealing arbitrators’ identities contradicts the classical rules of traditional arbitration. As a promising dispute resolution method, smart contract arbitration should untangle such a transparency issue. However, unveiling these data may radically endanger blockchain's decentralized and anonymous nature. Therefore, a trade-off emerges in terms of transparency. This paper is the first to analyze this trade-off comprehensively. The analysis is twofold. First, the paper considers the approach of traditional arbitration to anonymity. In such orthodox justice platforms as traditional arbitration, revealing arbitrators' identities and qualifications may prevail to avert breaching impartiality, independence and lack of required qualifications. Second, the paper examines the anonymity of arbitrators’ identities and qualifications in smart contract arbitration, considering the necessities of blockchain and the requirements of being a dispute resolution mechanism. Moreover, to clarify anonymity issues in smart contract arbitration, the paper also delves into the peer review process because of (i) its similarity regarding the anonymity of parties and (ii) the reviewers’ qualification-based selection process by editors. Then, this paper proposes an innovative smart contract arbitration model that contains (i) a qualification verification process through an entity like an editor in the peer review process and other alternatives for verification, (ii) a fair experience distribution method, and (iii) a competitive incentive model. Consequently, this paper proves that revealing qualifications while keeping identities anonymous because of the decentralized nature may be a game-changer for smart contract arbitration.

Saleh Ghavidel, Babak Naysary, Mohammad Sharif Karimi, Abdolreza Iesvand Heidari

No abstract is available for this record.

Yuhuan Hu, Kai Zhao, Zhang Li

Smart contracts, as a type of contract technology on the blockchain, can effectively address many shortcomings of traditional contract systems in digital environments, including opaque contract execution, regulatory difficulties, and low dispute resolution efficiency, provide publishers with a more

L.V. Kovalchuk, A. A. Vykhlo

A frontrunning attack is one of the most common attacks on smart contracts. Its essence lies in manipulating the order of transaction inclusion in a block to gain an advantage by altering the transaction processing sequence. This attack poses a particular threat to the conduct of p2p auctions for selling “green” electricity. In this paper, different types of such attacks are examined, analyzed, and formalized in step-by-step execution algorithms. Next, a model is proposed to assess the probability of success of such an attack. An explicit formula is derived for the probability of success of a displacement attack and an insertion attack, which are specific cases of a frontrunning attack. The probability of success is shown to depend on network parameters and the ratio between the transaction fees created by an honest user and a malicious user. Numerical examples of practical applications of the derived formula are provided, further confirming the correctness of the analytical results. Keywords: blockchain, smart contracts, auctions, p2p sales of “green” electricity, frontrunning attack.