<ns4:p>The decentralized approach of blockchain technology has resulted in innovations across various industries, including finance which is facing challenges due to the rise of decentralized finance (DeFi) in the market. Decentralization improves business processes and spurs product innovation through increased transparency and removing intermediaries. A taxonomy, created through literature review and expert interviews, outlines the four dimensions of these advancements: key drivers, products, benefits, and emerging threats. Proposed solutions are also included to tackle the threats.</ns4:p>
Today, ride-hailing platform operations are popular. Facing pandemics (e.g., COVID-19) some customers feel unsafe for the ride-hailing service and possess a “safety risk-averse” (SRA) attitude. The proportion of this type of SRA customers is unfortunately unknown, which makes it difficult for the ride-hailing platform to decide its optimal service price. In this article, understanding that blockchain technology (BT) based systems can help improve market estimation for the proportion of SRA customers, we conduct a theoretical study to explore the impacts that the BT-based system can bring to the platform, customers, and drivers. We consider the case in which the platform is risk-averse (in profit) and serves a market with both SRA and non-SRA customers. We analytically prove that using BT, the optimal service price will be increased and BT is especially helpful for the case with a more risk-averse ride-hailing platform. However, whether it is more or less significant for the more risk-averse SRA customers depends on their degree of risk aversion. We uncover that when the use of BT is beneficial to the customers, it will also be beneficial to the drivers, and vice versa. We derive in closed-form the analytical conditions under which the use of BT can be beneficial to the ride-hailing platform, customers, and drivers (i.e., achieving “all-win”). When all-win cannot be achieved automatically, we explore how governments can provide sponsors to help. We further extend the analysis to consider the general case in which BT incurs both a fixed cost as well as a cost increasing in demand. We prove that the main conclusion remains robust. In addition, we reveal that the required amount of government sponsor to achieve all-win is the same between the two different costing models explored in this article.
Blockchain front-running involves multiple agents, other than the legitimate agent, claiming a payment from performing a contract. It arises because of the public nature of blockchain transactions and potential network congestion. This paper notes that disputes over payments are similar to classic ownership disputes (such as King Solomon's dilemma). We propose a simultaneous report mechanism that eliminates blockchain front-running. In each case, the mechanism relies on threats to remove ownership from all claimants and preferences from the legitimate claimant over allocations to other agents.
Interlocal cooperation has long been promoted in the Philippines to address the resource limitations of local government units; however, there is a lack of discussion on how it can efficiently deliver urban services. This study aims to investigate cooperation models in the delivery of critical urban services by evaluating the management structure, financing strategies, sustainability, and issues/challenges of the interlocal arrangement in relation to operationalization. It focuses on answering the following policy questions: (1) what forms of interlocal cooperation have been utilized in the delivery of urban services; (2) how has interlocal cooperation improved the delivery of urban services; and (3) how can interlocal cooperation work better and be sustained given the decentralized nature of local politics. A closer look through findings from desk reviews and interviews is given to solid waste management and healthcare since they have been identified as services wherein cooperation among LGUs is extensively developed. Reforms are then proposed to improve the effectiveness of interlocal cooperation in efficiently delivering urban services.
Abstract: Crowd funding has come to a popular form of collaborative backing, in which small donations or investments, made by groups of people, support the development of new systems in exchange for free products or different types of recognition. Social network spots, in this paper, we present Fundaid, a block chain-grounded decentralized platform that combines social relations with crowdfunding mechanisms, allowing any user to raise finances while getting popular in the social network. Being erected over the ethereal block chain, Fundaid is structured as a Decentralized Autonomous Organization (DAO) that fosters crowdfunding without the intervention of any central authority, and recognizes the active part of benefactors, enabling them to support artists or systems, while making gains
Abstract The potential of blockchain technology (BCT) to modify and innovates established business structures and frameworks has received widespread attention. Academia and businesses are becoming increasingly curious about how this technology could be used to improve and refine consumer services and operations. Despite the growing popularity of blockchain research in consumer services, there remains a dearth of detailed summaries in the literature. Hence, this bibliometric analysis, combined with a systematic literature review (SLR) using SPAR‐4‐SLR protocol with the theories, characteristics, contexts, and methods framework (A hybrid review), aims to convey qualitative and quantitative knowledge on the ever‐evolving subject of blockchain application in consumer services in an organized manner. Specifically, this article analyses: (1) the current publication trends in studies devoted to blockchain‐based applications for consumers, (2) the most important publications and themes of research in this field, (3) the evolution of blockchain in consumer service over the years, and the most current trends in this field, (4) the advantages and challenges of incorporating BCT into consumer services, (5) gaps in the existing literature that future researchers should investigate. In addition, this review also describes the widely used theories, characteristics, and methods in the application of blockchain in consumer service research by examining the most applied theories, methods, constructs, and study contexts and paving the way for new research directions. The review includes 417 documents after searching for scholarly publications in two databases (Web of Science and Scopus) and choosing documents based on their relevance to the stated goals.
Tanusree Sharma, Yujin Potter, Kornrapat Pongmala, Henry E. Wang · 7 authors
Decentralized Autonomous Organizations (DAOs) have emerged as a novel way to coordinate a group of (pseudonymous) entities towards a shared vision (e.g., promoting sustainability), utilizing self-executing smart contracts on blockchains to support decentralized governance and decision-making. In just a few years, over 4,000 DAOs have been launched in various domains, such as investment, education, health, and research. Despite such rapid growth and diversity, it is unclear how these DAOs actually work in practice and to what extent they are effective in achieving their goals. Given this, we aim to unpack how (well) DAOs work in practice. We conducted an in-depth analysis of a diverse set of 10 DAOs of various categories and smart contracts, leveraging on-chain (e.g., voting results) and off-chain data (e.g., community discussions) as well as our interviews with DAO organizers/members. Specifically, we defined metrics to characterize key aspects of DAOs, such as the degrees of decentralization and autonomy. We observed CompoundDAO, AssangeDAO, Bankless, and Krausehouse having poor decentralization in voting, while decentralization has improved over time for one-person-one-vote DAOs (e.g., Proof of Humanity). Moreover, the degree of autonomy varies among DAOs, with some (e.g., Compound and Krausehouse) relying more on third parties than others. Lastly, we offer a set of design implications for future DAO systems based on our findings.
Blockchain technologies are of great interest to marketers uncovering opportunities in the context of the sharing economy. The novel appeal of blockchain is that it provides an immutable audit trail of digital tokens and contracts via a peer-to-peer (P2P) network without the need for a market intermediary. It thus enables digital exchange without the need for a trusted central authority or third party, affording an infrastructure for a variety of applications. We assess how blockchain technologies facilitate sharing beyond its role as a technological protocol and how it instead operates as a social machine. We explore these implications for marketing philosophically through the lenses of assemblage and pharmakon. We identify two contradictions for marketers: (1) how marketing with blockchain technologies in the sharing economy challenges past institutional roles of marketers and seeks to eradicate them, and (2) how these technologies produce a new notion of capitalized sociality devoid of trust.
One of the most efficient methods of crowdfunding in today’s world is using websites such as GoFundMe or KickStarter or Indiegogo. Those are websites where people are creating a project, presenting it with a whitepaper and people who like the idea or for an example, there are also people who are looking to get some money to do something like a wish or a dream come true, and for their medical treatments. The downside of this is that people who are creating the ideas or “projects” they are obliged to pay 20% or more in commissions to these platforms. Here comes the new era of cryptocurrency where decentralization is the main point of its existence. By cutting the middle man, such as the banks, these type of websites, people can use this technology to send peer to peer transactions to each other without being tracked by a third party or being in some way commissioned for some service. The technology developed by Vitalik Buterin and his team, who are developers of the Ethereum cryptocurrency, they made this coin and a platform to code with it. The language for coding in the Ethereum network called Solidity. With some or none coding skills, anyone can make their own “token” which is an expressed currency depending on the needs of the creator, could be any service or platform that can accept anyone’s token. The momentum of this movement is that anyone can create a project, for example a crowdfunding that will be expressed with the currency of the token, which will be given from the creator (the one who is having the idea) and the price also. Therefore, a creator is generating the token and is selling it proportional with the price of the Ethereum (ETH). When people are buying this token they are actually supporting the creator who receives the ETH from the supporters and they in return get Token which in the future if the project is successful they can use that token for the services of the platform or to sell it on an online cryptocurrency exchange. The presented work shows the process of creating a personal ICO (Initial Coin Offering). The goal is to create a powerful anonymous way to fund projects and to receive a product from the developers, which in this case would be a Token named ServiceCoin (SRV), for which they would have to buy it using Ethereum cryptocurrency in order to receive the tokens. We will go thru the process of installing a cryptocurrency wallet using MetaMask (Google chrome extension wallet), then we will use Brackets text editor in order to sort our code. After we will use Remix IDE to compile that code and at the end we will use MyEtherWallet.com service to publish our ICO so everyone can verify and see the actual tokens.
The rapid development of blockchain has inspired many traditional centralized intermediaries to transform their transaction models, especially for the peer‐to‐peer market. Lately, the token‐based (blockchain) system (with cryptocurrency) is gaining popularity. However, little is known about the (comparative) performance of different operating types. In this study, we build an analytical framework to find the optimal strategies for the token‐based and non‐token‐based blockchain (as a special application scenario) platforms and derive the essential model properties and characteristics. We analytically show how the optimal mining bonus depends on the fraction of reserved tokens sold to customers and on the price‐to‐sales ratio. Furthermore, we obtain several actionable findings for choosing suitable platform types under different scenarios. The shift from the non‐token‐based platform to the token‐based platform may yield greater social welfare unless the non‐token‐based system operates with a much larger ride price, which we show to be unrealistic for the considered Beijing case through numerical studies. Moreover, we find that the matching probability for the token‐based platform is predominantly higher than that for the non‐token‐based one. Besides, government interventions may encourage a path toward a fair consensus mechanism or a high decentralization level in order to enhance social welfare. One unanticipated finding is that a higher decentralization level may lead to a lower mining capacity shortage and so to a more efficient system, indicating that the combination of blockchain and the sharing economy has much potential.
This project proposes a blockchain-based framework from the existing centralized framework for a ride- sharing service and implements the same as a decentralized application based on smart contracts on Polygon Blockchain. A ridesharing system helps riders to reach a particular destination driven by the owner of the ride. Most services available in the market are centralized and hosted by a third party which gives them the authority to monitor features like fare calculation, user data, etc. Privacy and trust are major concerns in such a system. The purpose of our project is to make a decentralized application for ride sharing where all transactions, fare calculation, matching and information is stored on a Distributed Ledger. The ledger will be accessible to all the peers in the network. This will match users with rides in a decentralized way without relying on third parties of any centralized network which makes the system transparent and reliable. The data on blockchain is immutable. Hence, this technology is used to store rides and user information to maintain security and ensure user privacy. Finally, this project provides guidance for future research with the promising and important directions in blockchain-based ride-sharing services. Key Words: Blockchain; Peer to peer network; Security; Transactions; Ridesharing; Smart Contract; Polygon.
The rise of information technology has led to a surge in interest of investors and businesses in advanced futuristic technologies like Blockchain and Cryptocurrency. Blockchain is the heart of web3 technologies. One of the fields that could be revolutionized using it is crowdfunding. Crowdfunding is the process of supporting a project by obtaining modest contributions from a large number of individuals, usually online. Modern day crowdfunding websites are centralized, prone to cyberattacks, charge high amounts of transaction fees, have print rules & regulations and intellectual property risk. Blockchain has emerged as a technology which promises decentralization of a system along with a highly secured database. Blockchain is a distributed immutable ledger used to record transactions. Our project proposes a model to switch traditional crowdfunding processes on a Blockchain Network called Polygon. Apps made on Polygon use the same frontend as that used in traditional web2 websites but the backend instead of being a centralized database is an open peer-to-peer network. Our proposed work has a promising future and lots of room for development.
Juan F. Prados-Castillo, José Manuel Guaita Martínez, Agnieszka Zielińska, Dolores Gorgues Comas
The deployment of Blockchain technology in the tourism industry is already becoming a reality with the gradual emergence of innovative business models. At its core is the promise of improving the efficiency of the tourism service value chain and enhancing the quality of the service provided to the end customer. This paper analyses research trends focused on using Blockchain technology in tourism. The aim is to determine how this technology impacts the tourism sector and its sustainability. A systematic review, descriptive bibliometric analysis, and network analysis based on co-authorship, co-citation, and keyword analysis criteria, among others, have been used. The results reveal that the subject matter analysed is generating a growing trend in academic research in the fields of sustainable management and supply chain efficiency. The activities in the tourism sector that are incorporating this technology to a greater extent are those related to the areas of marketing, logistics, and smart business models, according to the data extracted from the analysis. This technology already enables the application of solutions that predict and promote tourist behaviour based on sustainable behaviour and consumption habits, generating value for the different stakeholders.
The use of blockchain technology in Decentralized Finance (DeFi) has gained popularity, with 23 public companies and one country holding bitcoin. DeFi aims to create an open and decentralized financial ecosystem that is accessible to everyone, eliminates intermediaries like financial institutions, and is verifiable, immutable, globally accepted, fast, low-cost, anonymous, and non-custodial. Despite its benefits, the rapid growth of DeFi has led to increased security risks. This study assesses the validity of DeFi's superiority claims in light of security incidents and events in 2022 and Twitter trends. This study used a Systematic Literature Review from various research articles and news from 2022. This research found that DeFi's superiority claims seem to be inconsistent with what is being advertised. It also found that if DeFi is not properly prepared and audited, its strength (Anonymous, open-source, decentralized, non-custodial, eliminates third parties and regulation) may become its weakness. Despite this, users still exhibit high levels of trust and optimism, as seen in the most popular terms shared by user tweets during significant losses, with 301,654 unique tweets between April 30 and May 31, 2022 and 344,519 unique tweets between October 3 and December 3, 2022, that are crypto, nft, and blockchain.
Nejc Rožman, Marko Corn, Gašper Škulj, Tomaž Berlec · 6 authors
This study investigates the effects of blockchain technology scalability limitations on the performance of Blockchain-Based Shared Manufacturing (BBSM), an innovative smart-manufacturing paradigm aimed at enhancing the utilization of global manufacturing resources via peer-to-peer (P2P) collaboration of self-organized manufacturing assets. Despite the prevalence of research highlighting blockchain technology’s scalability limitations as the main barrier for adoption, few studies have explored their effects on the operation of blockchain-based systems. The primary goal of the presented research work is to explore the implications of blockchain technology scalability limitations on the BBSM system’s performance and user behavior. To obtain realistic behavior, an experiment is conducted using an online game played by human participants. Analysis of the players’ strategy is used for implementation of a multi-agent simulation model, which is then employed to assess the influence of varying blockchain network configurations on the BBSM concept’s performance. Preliminary experimental findings reveal that a congested blockchain network leads to increased transaction costs and reduced service prices, consequently devaluing the manufacturing role in the BBSM system and causing underutilization of existing maximum production capacities. Moreover, allocating funds to financial activities rather than manufacturing activities yields superior outcomes for system users. Simulation results indicate that the BBSM system’s response to alterations in blockchain network throughput is contingent upon the production function. The findings of this study reveal that the scalability limitations of blockchain technology impair the performance of the BBSM system and affect user behavior in the system, underscoring the necessity for future research to concentrate on incorporating scalable solutions within blockchain-based manufacturing systems.
Since the first appearance of the World Wide Web, individuals have increasingly relied on the Internet for cyber social activities. The second phase of the World Wide Web, known as Web 2.0, has extensively attracted worldwide people who participate in creating and enjoying the virtual realm. Today, the next Internet revolution, Web3, will open new opportunities for conventional social models. The decentralization property of Web3 is capable of breaking the monopoly of Internet corporations. Moreover, Web3 will lead to a paradigm shift from the Web functioning solely as a publishing medium to one that fosters intensive interaction and participation. This shift will profoundly influence the interactions between users and platforms, relationships within production networks, and global economic models. As a result, it is necessary that this article technically, practically, and more broadly take an overview of Web3. This article presents a comprehensive survey of Web3, focusing on current technologies, challenges, opportunities, and outlook. This article first introduces several key technologies underlying Web3. Then, some types of Web3 applications (e.g., blockchain) are illustrated in detail. Blockchain and smart contracts ensure decentralized organizations are less trusted and more truthful than centralized ones. Decentralized finance will be global, and open with financial inclusiveness for unbanked people. This article also discusses the relationship between the Metaverse and Web3, including the differences and similarities between Web 3.0 and Web3. Drawing inspiration from Maslow’s hierarchy of needs theory, a novel hierarchy of needs theory within Web3 is proposed. Finally, several worthwhile future research directions of Web3 are discussed.
Blockchain-based technology is expected to cause significant disruption to many business applications and processes that are part of e-commerce. Given the capabilities of blockchain and relatedinnovations, and the so-called “unreliabie systems” with unique characteristics, various businesses are required to ensure trust, reliability, and enforcement between companies and consumers (B2C). For this, multiple models and procedures have developed throughout time. In this situation, it is necessary to realign business-to-business (B2B), business-to-government (B2G), and customer-to-customer$(\mathbf{C}2\mathbf{C})$ties. By eliminating illegal mediators or even centralized authority, blockchain is likely to upend the core of e-commerce. Furthermore, executing integrated access to immutable data across the supply chain can fundamentally alter how companies and customers exchange knowledge and value. A newtool is used to address the issue of product tracking in supply chain management thanks to blockchain technology. This research work aims to create a network of related methodologies and approaches for cross-border e-commerce and a blockchain-based architecture for obtaining traceable goods and transactions. Blockchain technology primarily addresses challenges like intermediaries, transparency, decentralization, data security, accuracy, and transactional freedom.
Due to the innovative business model and the digital platform's crucial role, the sharing economy appears to be a new entity in the business world. However, companies rake in by providing both parties with a common platform. This paper focuses on utilizing Blockchain technology (BCT) in the sharing economy. A theoretical model has been suggested that does away with the existing incentives system and permits transparency end to end. By fostering flexible networking architecture with openness and equality at its core, the sharing economy departs from the preexisting economic system and focuses on ownership. While sharing has evolved from a collaborative practice to a viable business model, it goes far beyond blurring the line between paid employment and uncompensated volunteering. Literature suggests that transportation and accommodation are the most promising domains of sharing economy. However, to ensure trust and transparency across the platform, BCT can be used. The proposed model uses tokenization and gamification over the underlying Proof-of-Stake (PoS) consensus mechanism to provide a real peerto-peer network that challenges the current model. The nodes and validators earn tokens as a reward, while the gamification process allows the service to scale and get better incentives.
Sahar Ajmal, Muteeb Bin Muzammil, Muhammad Shoaib, Muhammad Hassaan Mehmood
Charity giving is a fundamental aspect of society, but there are concerns about the accountability and transparency of the donation process. Blockchain technology has emerged as a potential solution, offering a secure and auditable platform for managing charitable contributions. In this paper, we explore the concept of empowering donors through blockchain technology and examine how it can help ensure that contributions reach the right recipients. We review existing literature on the topic and identify key areas for future research, including the development of hybrid blockchain solutions along with the implementation of novel consensus mechanisms. Moreover, providing the idea of decentralized autonomous organizations, self-executing smart contracts, and integration of blockchain with artificial intelligence and Internet of things. By providing a comprehensive overview of the current state of the field and outlining a roadmap for future research, we hope to stimulate further exploration of the potential of blockchain technology to revolutionize charity giving, and create a more accountable and transparent system for managing charitable funds. Some research questions are designed for each novel idea. Our analysis suggests that blockchain has the potential to empower donors and ensure that their contributions make a positive impact in the world, but further research is needed to fully realize its potential.
Preeti Jain, Rajesh Kumar Singh, Ruchi Mishra, Nripendra P. Rana
Owing to its unparalleled transparency and disintermediation characteristics, blockchain technology has a huge potential to transform the tourism and hospitality industry. Airlines and hotel companies are now turning to blockchain for its multifaceted applications, yet its holistic value realization in the sector is far from reality. The existing literature in terms of theoretical and methodological underpinnings concerning blockchain technology integrated Smart Tourism 4.0 remains limited and fragmented across its lifecycle. With a structured, systematic literature review approach, the study aims to conduct an in-depth review of 56 selected papers obtained from a specific search criterion employed across widespread repositories of Scopus, Web of Science, and EBSCOhost databases, capturing the period from Jan 2012 to May 2022. The study identifies critical research gaps in technology awareness, particularly around the maturity index for a BCT-integrated digitized business model. The emerging themes based on the primary focus areas are summarized and extended further to provide future research directions on the basis of theory, context, and method (TCM) framework. To advance the readers’ understanding to the next level, a few case examples of linked theory, context and methodology are also provided.由于其无与伦比的透明度和非中介化特征，区块链技术具有巨大的潜力来改变旅游业和酒店业. 航空公司和酒店公司现在正转向区块链, 以实现其多方面的应用, 但其在该领域的整体价值实现远未实现. 关于区块链技术集成智能旅游4.0的理论和方法基础方面的现有文献在其整个生命周期中仍然有限且支离破碎. 该研究采用结构化、系统的文献综述方法, 旨在对从Scopus、科学之网和EBSCO宿主数据库的广泛存储库中采用的特定搜索标准获得的56篇论文进行深入审查, 涵盖2012年1月至2022年5月这段时间. 该研究确定了技术意识方面的关键研究差距, 特别是围绕BCT集成数字化业务模型的成熟度指数. 基于主要关注领域的新兴主题被进一步总结和扩展, 以在理论、背景和方法(TCM)框架的基础上提供未来的研究方向. 为了将读者的理解提升到一个新的层次, 还提供了一些相关理论、背景和方法的案例.
In this paper we explore the importance of platform governance. We discuss various problems of centralized architecture in the context of the metaverse or sharing economy applications which may lead to monopoly market structures. We argue that open standards and blockchain-based governance can potentially mitigate some of these issues. We then collect governance data from the first blockchain-based virtual world and conduct an empirical analysis to study voter behavior within Decentralized Autonomous Organizations (DAOs). We provide empirical evidence that open standards and blockchain-based governance are a necessary but not a sufficient condition for a decentralized and neutral platform. Centralization and concentrated voting power may lead to dependencies, rent extraction behavior and create hold-up problems. Consequently, producers, prosumers and service providers must evaluate the governance structure of the platform before establishing a presence.
Blockchain technology is highly regarded for its potential to revolutionize various economic sectors and meet consumer needs. In the tourism industry, blockchain has attracted investor attention due to its characteristics, such as decentralisation, disintermediation, security, transparency, and immutability. Blockchain applications like smart contracts, tokens, cryptocurrencies, decentralised applications (Dapps), and decentralised autonomous organisations (DAOs) have the potential to transform the relationship between tourism providers and tourists by improving trust, automating processes, and reducing costs. However, widespread adoption of blockchain in tourism is limited due to several challenges, including a lack of awareness and expertise, high energy consumption, and a lack of regulatory frameworks for data management and income taxation. Despite these challenges, blockchain technology's potential benefits make it an essential area to watch in the future.