Blockchain can be used to store data safely while ensuring data transparency in quality control of advanced manufacturing. A smart contract running on blockchain can prevent data from being tampered with, along with specifying data transmission rules efficiently and securely. This paper proposes a smart contract system for manufacturing quality control that encompasses machine learning to solve dynamic multi-objective combinatorial optimization problem in production. The proposed system was experimented in various production scenarios. Experimental results showed that the system can effectively restore data through smart contracts when the data were artificially tampered with. In addition, the machine learning algorithm can improve the efficiency of the productions and achieve the combined optimization of multiple objectives.
Purpose: The aim of the paper is (1) to analyze the DARQ (Distributed ledger, Artificial Intelligence, Extended Reality, Quantum Computing) technology in terms of its implementations and (2) to compare these technologies with the SMAC technology (Social, Mobile, Analytics, Cloud). We present the thesis that DARQ technologies can help in building information systems aimed at both predicting and monitoring global crises. We argue that the DARQ technology will support the management of network organizations in the first period of development. Design/methodology/approach: The research procedure consists of the following steps: literature analysis, conducting qualitative research and its presentation, obtaining expert opinions and recommendations for further research. Findings: The results of work on the DARQ technology that supports management systems allowed for the evaluation of usability both in terms of the expected effects and the areas of risk of application. Research limitations/implications: Due to the lack of practical applications of all the elements that make up the DARQ technology, the analysis of such components as Extended Reality (Virtual Reality), Quantum Computing (Virtual Computing Technology) is not complete and requires complementary research and a more complete analysis of its applications. We consider the presented work as an introduction to broader research. Originality/value: The thesis has been substantiated that the transition from SMAC to DARQ technology can be done gradually. Both of these technologies are compatible. This may result in gradual and collision-free changes in the quality of the management system. Elements of the new DARQ technology, such as Distributed ledger, Artificial Intelligence, Extended Reality and Quantum computing, allow for abrupt changes in both the management system and the functioning of the organization. Already today, each component of the DARQ technology has a significant impact on various sectors of the economy. However, it should be noted that apart from the positives, the DARQ technology also poses some threats. The article contains conclusions from the research and indicates a recommendation for further work, which concerns extending the application of DARQ technology to predict and monitor disasters and unpredictable events. To this end, we analyze the Black Swan theory (based on the COVID-19 pandemic case study) as the theoretical framework for the use of DARQ technology as a tool to reduce the occurrence of unpredictable events.
Something is happening and we don’t know what it is. Suddenly last summer, the internet went nuts for “non-fungible tokens” or “NFTs.” In a matter of months, NFT sales swelled from a sleepy slough of the blockchain to a thundering cataract that shows no sign of slaking. Special NFTs sell for millions of dollars, and some are even securitized. It’s a big business that’s only getting bigger. But no one seems to know why. Objectively, NFTs are useless, meaningless, and worthless. So why are people willing to pay millions of dollars for them, even begging for the opportunity? Maybe it doesn’t matter. If themarket says NFTs are valuable, who are we to doubt it? Still, I’m curious. Why are people buying NFTs, and what accounts for their value?
Natalia A. Van Heerden, Juan Cabral, Nadia Luczywo
In recent years, cryptocurrencies have gone from an obscure niche to a prominent place, with investment in these assets becoming increasingly popular. However, cryptocurrencies carry a high risk due to their high volatility. In this paper, criteria based on historical cryptocurrency data are defined in order to characterize returns and risks in different ways, in short time windows (7 and 15 days); then, the importance of criteria is analyzed by various methods and their impact is evaluated. Finally, the future plan is projected to use the knowledge obtained for the selection of investment portfolios by applying multi-criteria methods.
Yang Li, Biaoan Shan, Beiwei Li, Xiaoju Liu · 5 authors
The emergence of machine learning (ML) and blockchain (BC) technology has greatly enriched the functions and services of healthcare, giving birth to the new field of "smart healthcare." This study aims to review the application of ML and BC technology in the smart medical industry by Web of Science (WOS) using bibliometric visualization. Through our research, we identify the countries with the greatest output, the major research subjects, funding funds, and the research hotspots in this field. We also find out the key themes and future research areas in application of ML and BC technology in healthcare area. We reveal the different aspects of research under the two technologies and how they relate to each other around five themes.
Ayodeji Emmanuel Oke, Clinton Aigbavboa, Stephen S. Segun, Wellington Didibhuku Thwala
In the previous chapters, the emergence of the use of cryptocurrency has been highlighted through the application of bitcoin and other electronically devised means. Cryptocurrency generally has aided many segments of the economy that would have been subjected to redundancy or reduced competence through the use of process and methods that are obsolete in a rapidly changing world. Blockchain, which is another system embedded into the cryptocurrency value management, provides a better platform by which transaction can take place without too much trouble. The non-involvement of third parties and the influence of the central bank have extended the need for a middle platform that has aided in cost and time management. The way it further affects the way human transactions are conducted and related efficiencies are explained in this chapter.
S. Hanumanth Sastry, Teck Heang Lee, MELISSA TENG TENK TEOH
Technologies such as blockchain technology and data analytics are causing major disruptions in various other professions and the audit profession will be no different in due time. The main aim of the study is to look at whether these technologies of blockchain and data analytics will assist the auditors in the various audit processes such as obtaining sufficient appropriate audit evidence, detection of fraud and exercising professional judgment. This study also aims to identify the future direction that the audit profession is heading with the introduction of these technologies and the potential skills that auditors would require in the upcoming years. Data was collected by the researcher in the form of primary data by conducting interviews. 12 auditors were interviewed. The data collected was analyzed using thematic analysis and the findings are presented accordingly to solve the research objectives. From the study, most respondents believe that these two technologies will assist the auditors in these audit processes in various ways. The study also shows that the auditors would have to equipped with skills such as IT related skills to stay relevant in the audit profession which is transforming to a technological/data driven profession.
Purpose Accurate evaluation of the consequences of new technologies in various industries is of great significance. So, it will be essential to examine the impact of this technology on the banking industry, representing how to create, deliver and gain value in this industry. This study aims to investigate whether blockchain can affect the business intelligence efficiency of banks. This study also aims to examine the impact of security, fraud reduction and privacy of blockchain, equal and anonymous access to the blockchain, decentralization and sustainability of blockchain, accountability and transparency of blockchain, quality, speed and efficiency of blockchain on business intelligence efficiency. Design/methodology/approach Technological changes are creating new challenges and opportunities for various industries. The inability of organizations to adapt to these changes may even lead to their deletion from the market. Blockchain is one of the most critical technologies in recent years. One of the sectors that will undergo significant changes in blockchain technology is the banking industry. According to the reviewed literature in this study, a comprehensive model has been proposed to examine the impact of security, fraud reduction and privacy of blockchain, equal and anonymous access to the blockchain, the decentralization and sustainability of blockchain, accountability and transparency of blockchain and quality, speed and efficiency of blockchain on business intelligence efficiency. A survey method was used to collect data from banks of the Nanjing city. The partial least square technique was used for data analysis. Findings The results showed that the fit of the proposed model was very good. Also, all assumptions except one were confirmed. It means that security, fraud reduction and privacy of blockchain factor have a remarkable and positive impact on all aspects of business intelligence efficiency, namely information technology, employees, competitors and customers. Also, equal and anonymous access to the blockchain factor has a positive and significant effect on all aspects of business intelligence efficiency. The decentralization and sustainability of blockchain factors have an impact on business intelligence efficiency. Also, blockchain's accountability and transparency as a fourth factor have a positive and significant impact on all aspects of business intelligence efficiency. Finally, the last factor (quality, speed and efficiency of blockchain) has a positive and significant effect on information technology, employees and customers' dimensions. But, it does not affect the competitors' dimension, and this hypothesis has not been confirmed. Practical implications This paper offers valuable insight for business intelligence practitioners into how blockchain technology has the potential to disrupt existing business intelligence provisions. Originality/value This paper is one of the first studies to examine the impact of blockchain on IT dimension, organizational employees' dimension, customer dimension and competitors' dimension. It lays a firm foundation for future research.
Recent technological developments are gradually causing changes and transformations in the existing global money and payment systems. The worldwide interest in electronically created cryptocurrencies as an alternative payment system is growing day by day. As a natural result of this interest, the payment system has been receiving attention with the potential to integrate into project processes as an alternative to traditional payment methods. The construction industry is one of the sectors, where cryptocurrencies could be integrated into several processes including money transactions. In this study, the awareness of cryptocurrencies among construction professionals and the possibility of their use in the future projects are investigated. For this purpose, a survey was prepared and administered to 284 professionals working in construction companies in Turkey. The collected results showed that the awareness of cryptocurrency among construction professionals changed based on firm size by revenue and having international or national operations. In general, it could be stated that cryptocurrencies would be considered as an alternative payment tool in the construction projects as the awareness increases.
Usage of technology to help finance audit process is not a new instance. But since the rise of 4th industrial revolution and emergence of smart technology relatively in a short period of time, adopting technology have its challenges and drawbacks. Data Integrity has been an issue for finance audit process because digital data is easy to tamper. This condition makes audit process become difficult and potential of audit fraud is high. In this study we would like to explore usage blockchain technology as future database engine for AIS. Blockchain as a technology relatively unheard before cryptocurrency albeit its advanced technology in data storage to ensure data integrity. We will explore the advantages and risk in adopting blockchain as well as current state of academics and technology regarding blockchain adoption.
Dennis Lamken, Tobias Wagner, Tim Hoiss, Karl Seidenfad · 7 authors
The design and implementation of a blockchain as an infrastructure for a supply chain with efficient tracking and tracing is a recurring software design problem. The design pattern "Blockchain Data Management (BCDM)" provides a meta-model, chaincode for data object management and a REST-API for integration in a supply chain infrastructure. The analysis is grounded in the experiences of the NutriSafe research project with its scenarios and its use of the Hyperledger Fabric framework as technical platform.
Big Data is mixed with huge, autonomous sources like decentralized and distributed control system. For organizations that use the conventional data processing mechanism to handle and archive these large data sets, these capabilities pose an extreme obstacle. A new model has to be defined and the existing framework must be re-evaluated for the analysis and management of big data. The word Business Intelligence (BI) applies to applications, technology and activities for commercial knowledge gathering, review, incorporation and presentation. Business Intelligence’s primary aim is to facilitate quicker and stronger business decision-making process.” Therefore, the strategic review of the literature must study the trend of Information System (IS) adoption factors as a well-designed strategic diagnostic tool that can be used for essential decision-making systems to enable more effective and reliable action plans. We started with discussing some frameworks required for strategic excellence by examining the potential approaches of Big Data Analytics (BDA) and Business Intelligence (BI). In the end, we would design an integrated application that functions as an organization's strategic performance management diagnostic tool. “In general, the emphasis and reach are on the corporate decision-making mechanism, there are some specifics on the analysis, but every conceivable tool and instrument is not specified, the concept is sufficiently concrete to assist in the creation of steps. This research paper therefore examines the position of the system for big data analytics and market intelligence.
Large-scale development and maintenance projects involve numerous dependencies across multiple disparate organizations, and these projects are subject to contractual stipulations, customer requirements, stakeholder expectations, and compliance/regulatory issues. Because these dependencies and constraints can change over time, mechanisms must exist to absorb, propagate, and implement perturbations to the original scope of work. Such mechanisms are generally human-oriented, involving significant effort to confirm successful modification while avoiding systemic regression. Distributed Ledger Technology alleviates concerns of regression while providing costeffective, actionable business insight during the development of large-scale, integrated systems. Fine-grained insights benefit all parties involved in the system's development, allowing for the incorporation of necessary systemic changes in an economical and informed manner. The system described in this work provides users of varying business roles with a single, clear, and concise view of their collaborative, large-scale development projects. This approach provides needed flexibility and functionality, allowing its users to maintain rigorous traceability while minimizing the time and attention needed to maintain valid project records. Further, practitioners are more well-informed regarding change impact and need not rely solely on subject-matter experts' insights and judgments; instead, they rely on artifact provenance to reliably view the past and present of the project and reliably predict future impacts. Combining distributed ledgers and distributed storage creates a scalable, flexible platform for enterprise-grade project management.
Blockchain is an emerging technology that enables two or more entities to conduct secure transactions. After a blockchain transaction is executed, it cannot be altered because the transaction infor...
Anam Bhatti, Haider Ali Malik, Ahtisham Zahid Kamal, Alamzeb Aamir · 6 authors
Purpose In the field of business, digital transformation is the integration of digital technology into all areas of business, from generating to deliver value to customers. This concept is essential for sustainable growth of a company and its overall economy. Based on this fact, this authentic and informative research is conducted whose major aim is to examine the importance of digital transformation within a business through big data, the Internet of things and blockchain-based capabilities for overall strategic performance within the telecom sector in China. Design/methodology/approach For that aim, data quality and technology competence are considered as independent variables, strategic performance as dependent variable and big data analytics capabilities, Internet of things capabilities and blockchain capabilities routinization acted as mediators within this paper. In its data collection mechanism, an online survey was conducted in which questionnaires are randomly distributed to the telecom sector's professionals in which only 343 of them gave their valid outcomes. After collecting primary data, confirmatory factor analysis (CFA) and structural equation modeling (SEM)–based statistical outcomes have been generated. Findings Results indicate that there is a significant relationship between data quality and strategic performance and between technological competence and strategic performance. Also, the big data analytics and Internet of Things capabilities acted as significant mediating role between both independent and dependent variables. But blockchain capabilities routinization is that variable that acts as an insignificant mediator between independent and dependent variables' relationship. Originality/value Overall, this study is an informative and attractive source for the Chinese government, its telecom industry, administrative body and related ones to understand the importance of such IT capabilities' implications within their operating activities for their strategic performance management. Also, related field scholars can utilize its reliable data in their research analysis. Its major limitations are (1) lack of qualitative/ mixed method of research and (2) lack of comparative analysis that may impact the acceptability factor of this paper, and this weakness can be overcome by upcoming scholars in their research.
Bart E. Blakely, Piyush Pawar, Leon Jololian, Shyam Prabhaker
Electronic Data Interchange (EDI) has been a trusted form of communication standard for numerous industries since the 1970's. EDI is used for the exchange of data between two or more entities using an agreed upon EDI standard. With the plethora of data being generated across industries and research, the reliance on technologies such as EDI is more significant than ever. For an industry dealing with sensitive information such as health care, the parameters of security and reliability are of the utmost importance. A traditional EDI protocol provides a structured mechanism for data sharing between a sender and receiver creating pockets of disconnected data across the health care network. With the advent of blockchain there is now a more complete way to connect all these pockets of data. Blockchain is a distributed ledger that can be accessed by any entity, who has been granted access, to the blockchain. Every partner on the blockchain can see the most current data between all partners removing the typical delays and mishandling of data. By coupling together an industry standard such as EDI with blockchain creates a system that can allow for continued use of a trusted system but revolutionize it with ease of access for everyone involved. Creating an end-to-end data mechanism will not only generate more data, but more complete data since it will include data from every entity in the network on a distributed ledger. While blockchain in health care is not a new idea what this paper is proposing is the next step in this trend by looking at how big data analytics can be used along with the improved data transmission system. With the more complete data that would be generated from an EDI and blockchain system big data will be able to make better predictions, and even open the door to some completely new ways of analyzing data. The objective of this paper is to outline the current technologies and explore some possibilities for how integrating these technologies could benefit any industry, but more specifically health care.
ABSTRACT Although research shows that blockchain provides fairly immutable virtual provenance workflows, proof that the blockchain accurately represents physical events lacks truly independent verification. This dilemma, the Oracle Paradox, challenges blockchain architecture and is perhaps one reason why businesses have hesitated to adopt smart contracts. Blockchain proponents claim that people can serve as trusted Oracles in a smart contract. However, auditing research shows that people are the weak link in almost every internal control application, including those pertaining to blockchain. People are susceptible to collusion, bribery, error, and fraud and these tendencies are not entirely mitigated by blockchain technologies (Balagurusamy et al. 2019; Nakamoto 2008). This research proposes a framework to mitigate the paradox of the Oracle: A Business Process Management (BPM) model of a Blockchain Smart Contract-enabled supply chain with IoT as the sole “third-party” Oracle participant, utilizing design science research.
ABSTRACT During recent years, cryptocurrency has gained the attention of many large companies such as Facebook, Expedia, Apple, and Overstock to name a few. The acceptance and use of cryptocurrency in business transactions can have a major impact on a company's accounting system. However, accounting research exploring issues related to cryptocurrencies is sparse. Therefore, we identify research questions that the accounting profession should address concerning cryptocurrencies. We categorize these research questions using Rogers' theory of diffusion of innovation in an attempt to encourage and extend accounting research in cryptocurrencies to influence the design, development, adoption, implementation, and operation of the technology. We recommend that researchers take a more prescriptive approach to research, rather than a descriptive approach, given that cryptocurrency is in the infancy stage of development and adoption.
Manal Hader, Abderrahman El Mhamedi, Abdellah Abouabdellah
This paper represents how supply chain will be more empowered when the ERP system will be integrated with Blockchain technology, it also details out how the two technologies will work together to provide transparency, and cost reduction to supply chain features.