Blockchain Papers

Lingjuan Lyu, Jiangshan Yu, Karthik Nandakumar, Yitong Li · 6 authors

No abstract is available for this record.

Gary Leeming, John Ainsworth, David A. Clifton

No abstract is available for this record.

Rémy Zgraggen

There are still many open issues and questions concerning the supervision and the legal and regulatory assessment of cyber security issues in the insurance sector, especially regarding smart insurance contracts and similar issues. In the present case the focus shall be on the underlying legal framework in the European Union and in Switzerland, including the most relevant ordinances and circulars as well as public and private guidelines, followed by an outlook and some general ideas how Brexit could potentially have an impact on the general recognition and acceptation of smart contracts within the legal and regulatory framework and the society in general.

Kristen W. Carlson

Background. Expert observers and artificial intelligence (AI) progression metrics indicate AI will exceed human intelligence within a few decades. Whether general AI that exceeds human capabilities (AGI) will be the single greatest boon in history or a disaster is unknown. No proofs exist that AGI will benefit humans or that AGI will not harm or eliminate humans. Objective. I propose a set of logically distinct conceptual components that are necessary and sufficient to 1) ensure that most known AGI scenarios will not harm humanity and 2) robustly align AGI values and goals with human values. Methods. By systematically addressing each pathway category to malevolent AI we can induce the methods/axioms required to redress the category. Results and Discussion. Distributed ledger technology (DLT, blockchain) is integral to this proposal, e.g. to reduce the probability of hacking, provide an audit trail to detect and correct errors or identify components causing vulnerability or failure and replace them or shut them down remotely and/or automatically, and to separate and balance key AGI components via decentralized apps (dApps). Smart contracts based on DLT are necessary to address evolution of AI that will be too fast for human monitoring and intervention. The proposed axioms. 1) Access to technology by market license. 2) Transparent ethics embodied in DLT. 3) Morality encrypted via DLT. 4) Behavior control structure with values (ethics) at roots. 5) Individual bar-code identification of all critical components. 6) Configuration Item (from business continuity/disaster recovery planning). 7) Identity verification secured via DLT. 8) Smart automated contracts based on DLT. 9) Decentralized applications - AI software code modules encrypted via DLT. 10) Audit trail of component usage stored via DLT. 11) Social ostracism (denial of societal resources) augmented by DLT petitions.

Hugh Morris

Long Finance's Distributed Futures research programme has produced a report entitled “To Be, To Have, To Know: Smart Ledgers & Identity Authentication”, the latest in a series of exciting projects in the programme. The event offered the opportunity to join the discussion on the findings of the report, which showed how identity management and authentication systems can make use of leading technology, such as smart ledgers, as well as to explore the social, economic, and political implications of their use. The research provides alternative models for practical identity management and authentication, and suggests considerations for policy makers, regulators, businesses, and individuals, both for the present and looking forward.

Kazuhiro Yamashita, Yoshihide Nomura, Ence Zhou, Bingfeng Pi · 5 authors

Blockchain is a decentralized ledger technology, and it is the technology underlying Bitcoin and Ethereum. The interest in blockchain has been increasing since its emergence. Hyperledger Fabric is one of the permissioned blockchain frameworks. One of the characteristics of Hyperledger Fabric is it utilizes general-purpose programming languages, e.g., Go, Node.js, and Java, to implement smart contracts (called chaincode in Hyperledger Fabric). The advantages of utilizing these languages are already known to potential developers, and development tools might already exist. However, one of the disadvantages is that these languages were not originally designed for writing smart contracts. Hence, there may be risks that developers do not need to consider when using specific languages such as Solidity of Ethereum. Furthermore, even though development tools exist, how many risks are covered by the tools is an open question. In this paper, we focus on Go language and the tools. First, we surveyed what kind of risks are associated with chaincodes are developed using Go language and observed there are 14 potential risks. Then, we investigated how many risks can be covered by Go tools, e.g., golint and gosec, and a vulnerability detection tool for chaincodes called Chaincode Scanner. From our results, we observed that some risks are not covered by the existing tools. Hence, we develop a detection tool to cover risks by static analysis. Finally, in this paper, we describe how to find the risks with our tool and evaluate the usefulness.

Angela Walch

This chapter addresses the myth of decentralized governance of public blockchains, arguing that certain people who create, operate, or reshape them function much like fiduciaries of those who rely on these powerful data structures. Explicating the crucial functions that leading software developers perform, the chapter compares the role to Tamar Frankel’s conception of a fiduciary, and finds much in common, as users of these technologies place extreme trust in the leading developers to be both competent and loyal (ie, to be free of conflicts of interest). The chapter then frames the cost-benefit analysis necessary to evaluate whether, on balance, it is a good idea to treat these parties as fiduciaries, and outlines key questions needed to flesh out the fiduciary categorization. For example, which software developers are influential enough to resemble fiduciaries? Are all users of a blockchain ‘entrustors’ of the fiduciaries who operate the blockchain, or only a subset of those who rely on the blockchain? Finally, the chapter concludes with reflections on the broader implications of treating software developers as fiduciaries, given the existing accountability paradigm that largely shields software developers from liability for the code they create.

Ana S. Trbovich

This paper interprets the principles of good governance and corporate governance in the context of distributed ledger technologies, namely blockchain, analyzing specifically how these principles apply to a blockchain-enabled energy market. With blockchain, governance becomes decentralized and automated, creating a new, tech- nical bureaucracy. However, a programmed decision tree does not inevitably produce a digitized democracy and a functional marketplace. While blockchain governance decisions have been predominantly technical, they increasingly embroil legal, moral, cultural and even philosophical considerations. As a result, governance is increasingly recognized as a critical challenge in the future development of blockchain-enabled marketplaces. Future, multidisciplinary research by lawyers, engineers, political scientists and philosophers should venture further into develop- ing good governance principles for blockchain, focusing on equity and inclusion.

Evmorfia Biliri, Minas Pertselakis, Marios Phinikettos, Marios Zacharias · 6 authors

In recent years, there is growing interest in the ways the European aviation industry can leverage the multi-source data fusion towards augmented domain intelligence. However, privacy, legal and organisational policies together with technical limitations, hinder data sharing and, thus, its benefits. The current paper presents the ICARUS data policy and assets brokerage framework, which aims to (a) formalise the data attributes and qualities that affect how aviation data assets can be shared and handled subsequently to their acquisition, including licenses, IPR, characterisation of sensitivity and privacy risks, and (b) enable the creation of machine-processable data contracts for the aviation industry. This involves expressing contractual terms pertaining to data trading agreements into a machine-processable language and supporting the diverse interactions among stakeholders in aviation data sharing scenarios through a trusted and robust system based on the Ethereum platform.

David Schechtman

No abstract is available for this record.

George Pickering

Given Bitcoin’s apparent lack of non-monetary uses, Luther (2018) argues that its emergence as a medium of exchange invalidates the regression theorem, or at least severely limits its relevance to identifying which commodities could emerge as media of exchange in the absence of State intervention. However, this view misinterprets both the regression theorem itself and the problem it was developed to address. The goal of the regression theorem was not to identify which commodities could become monies, but to provide a subjectivist explanation of the purchasing power of money. To do this, it requires only that some individuals valued the good in question before its use as a medium of exchange, not that it had some objective pre-monetary use.

Steven A. Wright

The paper considers the technical and legal challenges impacting recent proposals for healthcare applications of blockchain and smart contracts. Healthcare blockchain data and actors are rather different to cryptocurrency data and actors, resulting in a different emphasis on blockchain features. Technical issues with healthcare blockchain implementation and trust are considered, as well as a variety of potential legal issues. Conclusions and recommendations are proposed for open source and standardization efforts to reduce technical and legal risks for healthcare blockchains and smart contracts.

A.V. Tyurin, I.V. Tyuluandin, V.S. Maltsev, Iakov Kirilenko · 5 authors

Blockchain technologies are gradually being found an application in many areas, especially in FinTech. As a result, a lot of blockchain platforms have emerged with the support of smart contracts that are intended to automate party interactions. However, it has been shown that they are prone to attacks and errors which lead to money loss. To date, there has been a wide range of approaches for making smart contracts safer that included analysis tools, reasoning models, and safer and more rigorous programming languages. In this paper, we provide an overview of smart contract programming languages design principles, related vulnerabilities, and future research areas. The provided overview is meant to outline the to date state of languages and to become a possible basis for future proceedings, and show approaches, used by the community, to reach safe and usable language for smart contracts. We have split all found vulnerabilities by source of their arising. Various languages’ characteristics such as abstraction level, paradigm, Turing completeness and main features are summarized in the table. Additional information about languages is provided, e.g. model of execution and tools for static analysis.

Misha Abraham, K. P. Jevitha

No abstract is available for this record.

Alain Giordanengo

Security, privacy, transparency, consent, and data sharing are major challenges that healthcare institutions must address today. The explosion of the Internet of Things (IoT), the enactment of the General Data Protection Regulation (GDPR), the growing trend of patients self-managing their diseases, and the eagerness of patients to share their self-collected health data with primary and secondary health organisations further increase the complexity of these challenges. Smart contracts, based on blockchain technology, can be a legitimate approach for addressing these challenges. Smart contracts define rules and penalties in an agreement, enforce those rules, and render them irrevocable. This paper presents a state-of-the-art review (as of May 2018) of the possible usages of smart contracts in healthcare and focuses on data sharing between patients, doctors, and institutions.

Aleksandr Kormiltsyn, Chibuzor Udokwu, Kalev Karu, Kondwani Thangalimodzi · 5 authors

No abstract is available for this record.

Clare Sullivan, Eric Burger

No abstract is available for this record.

Olivia Johanna Erdélyi, Judy Goldsmith

Given the ubiquity of artificial intelligence (AI) in modern societies, it is clear that individuals, corporations, and countries will be grappling with the legal and ethical issues of its use. As global problems require global solutions, we propose the establishment of an international AI regulatory agency that --- drawing on interdisciplinary expertise --- could create a unified framework for the regulation of AI technologies and inform the development of AI policies around the world. We urge that such an organization be developed with all deliberate haste, as issues such as cryptocurrencies, personalized political ad hacking, autonomous vehicles and autonomous weaponized agents are already a reality, affecting international trade, politics, and war.

Wai Wai Wong, Chin Lay Gan

In this era of increasing cyber dependency in business dealings there is huge potential in the adoption of Distributed Ledger Technologies (DLT) particularly in the context of smart contract in the commercial world. The phenomenon of smart contract operates independently without the cumbersome need to engage any intermediary and is capable of executing specific task.(Thake, 2018) People relates it more to a piece of code (known as a software agent) that is designed to execute certain tasks if pre-defined conditions are met. Such tasks are often embedded within, and performed on a distributed ledger.”(Stark, 2016) However, if one accepts the contention that smart contract is not merely as a set of computer code but a smart legal contract which contains obligations and legal terms that are enforceable, hence, in programming or writing smart contract, one must ensure that the software developers who design smart contract take note of the legal rules and principles behind the specific type of contract in question. It has been argued that there is too much dependency on the programming aspect in the creation of smart contracts by programmers and computer scientists. (Khalil et al., 2017)

Maher Alharby, Amjad Aldweesh, Aad van Moorsel

Blockchain based smart contracts are computer programs that encode an agreement between non-trusting participants. Smart contracts are executed on a blockchain system if specified conditions are met, without the need of a trusted third party. Blockchains and smart contracts have received increasing and booming attention in recent years, also in academic circles. We carry out a systematic mapping study of all peer-reviewed technology-oriented research in smart contracts. Our interest is twofold, namely to provide a survey of the scientific literature and to identify academic research trends and uptake. We only focus on peer-reviewed scientific publications, in order to identify how academic researchers have taken up smart contract technologies and established scientific outputs. We obtained all research papers from the main scientific databases, and using the systematic mapping method arrived at 188 relevant papers. We classified these papers into six categories, namely, security, privacy, software engineering, application, performance & scalability and other smart contract related topics. We found that the majority of the papers falls into the applications (about 64%) and software engineering (21%) categories. Compared to our 2017 survey [1], we observe that the number of relevant articles has increased about eightfold and shifted considerably towards applications of smart contracts.

Vimal Dwivedi, Alex Norta

Smart contracts play an advent role in automated business participation by rendering collaboration processes more time-efficient, cost-effective and establishing more transparency. Smart contracts facilitate trust-less systems, without the need for intervention from third-party intermediaries. Existing smart-contract languages mainly focus on technical utility and do not take into consideration social and legally relevant issues, e.g., lack of semantics, ontological completeness, and so on. In this research, we address the gap by developing with rigorous means a smart contract's language that aims to be legally relevant, and that comprises socio-technical utility for cross-organizational business collaboration. The proposed language seeks to retain the strengths of the already existing languages of different generations while eluding their limitations. We aim to identify and implement abstract grammar patterns for a smart-contract language that has the expected application utility and verifiability. We evaluate the developed language based on automating industry-collaboration cases with our novel smart-contract language to test the suitability, utility, and expressiveness.

Stephen Castell

No abstract is available for this record.

Gili Vidan, Vili Lehdonvirta

Subscribing to a techno-utopian discourse replacing institutions and experts with “trust in code,” digital alternative currency Bitcoin is pitched as a “math-based money” governed by incorruptible code rather than human regulators. In three cases, which occurred between 2013 and 2015, we examine this system at moments of breakdown. In contrast to the discourse, we find that power is concentrated to critical sites and individuals who manage the system through ad hoc negotiations, and who users must therefore implicitly trust—a contrast we call Bitcoin’s “promissory gap.” But even in the face of such contradictions between premise and reality, the discourse is maintained. We identify four authorizing strategies used in this work: conflating people with devices, assuming actors conform to notions of economic rationality, appealing to technical expertise, and explaining contradictions as temporary bugs. We contend that these strategies are mobilized widely to legitimize a variety of applications of algorithmic regulation and peer production projects.

Maximilian Wöhrer, Uwe Zdun

The idea to digitally facilitate contract law and business practices through computer programs has led to the notion of smart contracts. Today's most prominent smart contract ecosystem is Ethereum, a blockchain based distributed computing platform. Due to the inherent nature of blockchain based contract execution, missing low level programming abstractions, and the constant evolution of platform features and security considerations, writing correct and secure smart contracts for Ethereum is a difficult task. Based on a Multivocal Literature Research and an analysis of the gathered data based on qualitative research methods, we mined a number of design patterns providing design guidelines. We describe those patterns in detail and provide exemplary code for better illustration. Our research shows that the patterns are widely used to address application requirements and common problems. We expect generalizability of some or all of the patterns for other smart contract ecosystems, but this is outside of the scope of this study, which studied only smart contract patterns in Ethereum.