Blockchain Papers

Dileep Reddy Goda

International audience

Hongwei Shi, Shengling Wang, Qin Hu, Xiuzhen Cheng · 5 authors

Bitcoin has witnessed a prevailing transition that employing transaction fees paid by users rather than subsidy assigned by the system as the main incentive for mining.

Chunxia Yu, Yi Leng, Jing Li, Jiacheng Yu

Purpose This paper aims to propose a novel blockchain crowdfunding projects evaluation approach using extended techniques for order preferences by similarity to ideal solution (TOPSIS) under fuzzy environment. Design/methodology/approach By analyzing the characteristics and operation process of blockchain crowdfunding model, this paper formulates the evaluation index system from three dimensions of human resources, capital and publicity. In addition, the entropy method is used to calculate the weight of each indicator to avoid subjective judgments; different alternatives are evaluated using the grey correlation analysis (GRA) and TOPSIS-integrated method which considers the distance and similarity between alternatives simultaneously. Findings By analyzing the characteristics and operation process of blockchain crowdfunding model, this paper formulates the evaluation index system from three dimensions of human resources, capital and publicity. In addition, the entropy method is used to calculate the weight of each indicator to avoid subjective judgments; different alternatives are evaluated using the GRA and TOPSIS-integrated method which considers the distance and similarity between alternatives simultaneously. Originality/value Blockchain crowdfunding has become a new model for fund-raisers to raise funds from public investors. This paper proposes a novel blockchain crowdfunding projects evaluation approach using extended TOPSIS under fuzzy environment.

Sin Yee Teh, Kiew Heong Yap, Siew Chin Wong

"Cryptocurrencies have become the buzzword among society, especially after some prominent companies such as Wikipedia, Microsoft and Amazon accept the use of cryptocurrencies. Nonetheless, accounting treatment of cryptocurrencies appears to be a challenging area for standard setters, financial statement preparers, and also users. This is mainly because elements of cryptocurrency do not explicitly fall under any existing accounting standards. The fact that cryptocurrencies are held for different business models and intentions may affect how it should be treated under accounting standards. Hence, this research aimed to examine factors that affect the accounting treatment of cryptocurrencies in Malaysia. Different factors were examined including the function of cryptocurrencies, conceptual framework of financial reporting and the legal status of cryptocurrencies. Targeted respondents involved in this research were accountants in Malaysia. Data collected were analysed using SPSS and SmartPLS 3. SPSS was mainly used to analyse the demographics of respondents whereas SmartPLS 3 was used to carry out reflective measurement model and structural model evaluation. The results concluded that all the independent variables which are the functions of cryptocurrencies, conceptual framework of financial reporting, and the legal status of cryptocurrencies have a significant relationship with the accounting treatment of cryptocurrencies. The results of this study provide an insight about factors that standards setters and financial standards should consider when accounting for cryptocurrencies’ transactions in order to provide faithful representation and relevant information. Some limitations and suggestions are included in this research to provide ideas for future researchers to carry out further research. Keywords: Cryptocurrencies, Accounting Treatment"

Anna Vacca, Andrea Di Sorbo, Corrado Aaron Visaggio, Gerardo Canfora

The International Conference on Software Maintenance and Evolution is the premier international forum for researchers and practitioners from academia, industry, and government to present, discuss, and debate the most recent ideas, experiences, and challenges in software maintenance and evolution.

И.Ю. Загоруйко, И.В. Шкрëба, С.М. Леготкина

Вопрос о экономико-правовом регулировании использования технологичной формы смарт-контрактов в предпринимательстве на сегодняшний день не находит отражения в научных исследованиях ученых в связи с недавним появлением и развитием этого направления. В настоящий момент отсутствует специальное исследование возможности использования смарт-контрактов в различных сферах предпринимательской деятельности, несмотря на перспективность этого вопроса и возможности экономии временных и денежных затрат для физических и юридических лиц. Существует достаточное количество научных статей, освещающих экономико-правовые особенности смартконтрактов. Смарт-контракт относится не столько к новой форме договора в предпринимательстве. Это связано с тем, что смарт-контракт может применяться во всех видах договоров (поставки, аренды, страхования, купли-продажи) в предпринимательской среде, что не делает его каким-либо универсальным, новым видом договора. Он направлен лишь на упрощение процедуры заключения таких договоров в предпринимательстве. Но вместе с тем, его уникальные признаки и особенности, возможности по программированию условий договора в предпринимательстве, установлению возможности их автоматического исполнения не позволяют отнести его к обычной письменной форме экономико-правовых договоров, но и не дает выделить его в новую форму договорных отношений в предпринимательстве. The issue of economic and legal regulation of the use of a technological form of smart contracts in entrepreneurship today is not reflected in scientific research of scientists in connection with the recent emergence and development of this direction. At the moment, there is no special study of the possibility of using smart contracts in various areas of entrepreneurial activity, despite the promising nature of this issue and the possibility of saving time and money for individuals and legal entities. There is a sufficient number of scientific articles covering the economic and legal features of smart contracts. A smart contract refers not so much to a new form of contract in entrepreneurship. This is due to the fact that a smart contract can be used in all types of contracts (supply, lease, insurance, purchase and sale) in the business environment, which does not make it any universal, new type of contract. It is aimed only at simplifying the procedure for concluding such contracts in business. But at the same time, its unique features and features, the ability to program the terms of the contract in business, to establish the possibility of their automatic execution do not allow it to be attributed to the usual written form of economic and legal contracts, but also does not allow it to be singled out into a new form. contractual relations in entrepreneurship.

Peter Howson

Abstract A blockchain is a smart electronic database, distributed to all users, immutably tracking every transaction that has ever taken place between nodes on a network. The technology is being used by some nonprofits to address various operational challenges, including attaching automated conditions to charitable donations facilitated by programmable “crypto‐giving” platforms. Drawing from analysis of technical documents provided by active crypto‐giving projects, this review considers how these platforms enable radical shifts in sectoral power relations through “surveillance philanthropy”. This algorithmic surveillance ensures project funding fully reflects the interests of donors, while potentially restricting nonprofits in meeting the dynamic and complex needs of project beneficiaries. The paper considers the benefit trade‐offs from crypto‐giving platforms in three areas of utilization: (a) new forms of donor engagement and fundraising, (b) new tools for organizational governance, and (c) novel provision of development assistance. Despite the possible efficiency and transparency benefits of crypto‐giving platforms, more research and practitioner engagement is required to ensure the sector's funding is secure and sustainable, without entailing significant risks for proposed beneficiaries.

Chan-Jong PARK

2009년 처음 공개된 이래, 비트코인이 대안화폐로서 기능할 수 있을 것인가를 둘러싸고 많은 논쟁이 진행되었다. 본 연구는 비트코인의 화폐적 가능성 자체보다는 ‘비트코인 현상’을 사회적 사실로 인식한다. 즉, 비트코인 현상이 금융화를 배경으로 어떠한 사회적 힘들에 의해 전개되었는지 주목하면서, 지난 10년간의 비트코인의 역사를 재검토한다. 비트코인은 2008~2009년의 글로벌 금융위기에 대한 자유지상주의적 비판으로서, 국가와 자본으로부터 독립적인 대안적 화폐 구성을 목표로 등장했다. 그러나 오래지 않아 채굴기업이나 거래소와 같은 비트코인 생태계 내의 새로운 권력중심이 출현하고, 제도적 금융시장을 통해 막대한 투자자금이 유입되었다. 그 결과 비트코인은 가격변동성이 높은 금융자산의 성격이 강화됨으로써 화폐로서는 실패했다는 평가가 확산되었다. 그런데 최근 각국 정부와 중앙은행이 블록체인을 기반으로 중앙은행디지털화폐의 개발에 본격 착수하게 되면서, 비트코인에서 시작된 대안적 디지털암호화폐의 실현가능성은 그 어느 때보다 높아졌다. 이는 ‘비트코인 현상’의 중대한 역설을 보여준다. 기존 금융질서에 대한 자유지상주의적 비판이자 화폐적 유토피아 운동으로서의 비트코인이 10년의 역사를 거쳐 자신이 비판하고자 했던 바로 그 형상을 가지고 비로소 실현될 운명에 처해 있기 때문이다.

Christian Hugo Hoffmann

Purpose Following the call for strengthening the third pillar of knowledge in entrepreneurship as well as work-applied management contexts constituted by pragmatic design principles, we present a case study on an insurtech for insurance firms specialized in smart contract insurance solutions such as flight delay or ski resort insurance. Design/methodology/approach Design science. Findings This not only serves as a pointer for how insurances may master their digital transformation while remaining competitive. But moreover, on the meta level, we find that the adoption of entrepreneurial design principles by the students, whose experiential project represents our case study, does not necessarily require continuous support or foundational knowledge to be delivered beforehand. However, for a deeper or more holistic assessment of the case sketched in their project, it makes sense to introduce them to newer developments such as the simple, practical framework of the Entrepreneur's Question Index. Originality/value Innovative teaching method on innovative topics.

Adeel Nasir, Kamran Shaukat, Kanwal Iqbal Khan, Ibrahim A. Hameed · 6 authors

A new era awaits the development of cryptocurrency and blockchain technologies. This study highlights the influential and conceptual aspects of blockchain and cryptocurrency literature with bibliometric analysis. There are 1965 related documents from 2015 and 2020, represent various structures and technologies, cryptocurrencies, and blockchain applications. We have deployed “bibliometrix 3.0”, the r-package, and VOS viewer to analyze key literature aspects. IEEE Access is the core journal for cryptocurrency and blockchain publications. The University of Cagliari, Notreported, and Peking University are key affiliations, and the USA, China, and India are core countries for literary research. H. Wang is the core author with the central theme of security of blockchain technologies. It is a set basis for conceptual aspects, core, and future research streams and themes. The study proposes three research streams: the structure of cryptocurrencies and implications of blockchain technologies, privacy, security management of data and information, and development of optimal information systems. The study further segregates themes into highly centralized and motor themes that are also core themes. Topics related to Consensus protocols, proof of work, distribution ledger technology, blockchain, and cryptocurrency procedures and structure comes under core themes. Highly developed and emerging themes are considered as a stepping stone for future directions. Underlying topics are related to fintech, Islamic finance, valuations, and dynamics of cryptocurrencies.

Piera Centobelli, Roberto Cerchione, Emilio Esposito, Eugenio Oropallo

No abstract is available for this record.

Ryan Randy Suryono, Indra Budi, Betty Purwandari

Digital transformation creates challenges in all industries and business sectors. The development of digital transformation has also clearly triggered the emergence of fintech (financial technology) initiatives, which are recognized as some of the most important innovations in the financial industry. These initiatives are developing rapidly, driven in part by the sharing economy, regulations, and information technology. However, research in the field of fintech remains in its infancy. Fintech offers several services, such as funding, payment (including electronic wallets), e-aggregators, e-trading, and e-insurance, and cryptocurrencies such as Bitcoin. This provides an opportunity to more closely examine fintech’s research challenges and trends. This study aims to (1) determine the state of the art of financial technology research; (2) identify gaps in the financial technology research field; and (3) identify challenges and trends for future research potential. The novel proposal in this study includes theoretical contributions regarding financial technology. Using the systematic literature review approach of Kitchenham, in addition to thematic analysis, meta-analysis and observation to validate the quality of literature and analysis, the results of this study provide a theoretical basis fintech research from an information systems perspective, including the formulation of fintech technology concepts and their development.

Alexandros A. Papantoniou

This essay examines whether the smart contract innovation is capable of displacing the orthodox adherence to traditional contracts. This examination is underpinned by an analysis of the legality of smart contracts in which it is exemplified that smart contracts ought to be considered legally binding instruments. The essay proceeds to explore the superiority of smart contracting in a technical and theoretical basis. The advantages generated through smart contract automaticity and enforceability present a concrete basis for undermining reliance on traditional contracts. Blockchain Technology also enhances the benefits of smart contract by acting as a smart contract enabler through guaranteed performance and enforceability. Nevertheless, such novel technologies inevitably suffer from several shortcomings. This essay considers examples illustrating the inflexibility of smart contracting. Apart from being susceptible to hacking and code exploitation, smart contracting is unable to deal with ambiguities and potential modifications. Overall, this suggests that the advantages of smart contract practice are currently confined to some specified limited scenarios. Smart contracts perform a different function to traditional contracting by merely guaranteeing technical enforceability as opposed to legal enforceability. This essay thus concludes that, for the time being, it is prone to regard smart contracting as a supplement to traditional contract rather than an outright displacement.

Authors unavailable

Digital finance encompasses digital information feedback on credit credibility and electronic transactions based on digital currencies.In recent years, driven by blockchain technology and cloud computing, digital finance has boomed in developed countries, giving rise to new issues and potential risks.With the transformation of digital finance from 'crypto' to 'cloud', a new trend is emerging.Digital finance driven by cloud computing, whether on public clouds or on-chain clouds, offers a plethora of opportunities, but the migration to native digital finance systems based on cloud infrastructure would be fraught with risk.Cloud computing, with its convenience, flexibility, security and scalability, continues to become a mainstream technology in retail finance.Multi-modal federated machine learning and federated cloud transactions can potentially construct a decentralized market with permissioned access while achieving snapshot privacy.Blockchain will continue its widespread adoption in developer-centric financial backends as technology matures, with larger public chains evolving to handle benchmark trading volumes.On miniambilest, native public and enterprise banks, decentralized exchanges, NFT-backed loans and on-chain credit scores will rise, creating liquidity for illiquid assets and granting borrowing access to previously excluded participants.The rising popularity of cryptocurrencies may, on the contrary, accelerate KYC, AML and the adoption of CBDCs.Security issues in cloud computing may cause significant financial losses, as there have been cases in the past where public cloud services have suffered data breaches.In some cases, thousands of GB of customer financial and transaction data have leaked online and caused significant reputational damage, emphasizing the importance of choosing a reliable cloud service vendor [2].Observations made during web scraping consisting of an analysis of exchange user cases showed that data breaches have exposed customer account information, previous transactions, and even 3D model photos of the vault and keys used to hide hardware wallets in a bank deposit facility.Furthermore, the archive and backup of large-scale retail finance databases in the public cloud may incur long data retrieval delay of over 100ms.The lost backup can also put the entire institution at risk if the vendor service becomes bankrupt, or if a natural disaster damages their facilities.Despite the rapid year-on-year growth of this new financial market, currently, only limited assets, such as the Bitcoin reward for blockchain mining, can be traded on-chain.

Md. Asaduzzaman, Farhan Hasib, Zawad Bin Hafiz

In the era of modernization, poverty and hunger is a curse for the developing and under developed countries. Micro- credit is a groundbreaking idea that can help in defending the problem. But there is a problem in accomplishing the task due to trust and security issues. In this critical situation of poverty, these issues hinder the rate of success. Central databases have many issues with security and trust. In this paper, a comprehensive approach to implement a system for the micro-credit distribution and management is described. Being one of the most emerging technologies, blockchain is used to ensure trust, security and reliability. NGO/MFIs and registered miners will be able to act as nodes. The data is completely secure, as each block is encrypted. There is reward for the miners which will enhance the field of employment. Borrowers have a defined credit which is deducted at the time of borrowing and refunded during returning the borrowed amount. Borrowers have a reputation point based on borrow and return. A group of well reputed borrowers will be able to form an MFI. A portion of interest will be deducted as network charge which can be deposited as VAT in the government fund.

Sam Dallyn, Fabian Frenzel

Abstract Postcapitalist commons are a growing area of interest in the efforts to generate alternatives to capitalism in the present. Commons are understood as self‐organised collectives based around shared resources; yet postcapitalist commons have an additional element, in operating within while projecting an “after” capitalism. This can give rise to tensions since commons striving for postcapitalism also require a certain amount of capital to survive and function within capitalism. FairCoop is a radical postcapitalist commons that adopted the cryptocurrency FairCoin in 2014. FairCoop, through FairCoin, was able to generate some trans‐local connections through its use of peer2peer technologies and was thus able to scale‐up. Its design, however, was ultimately unsustainable due to insufficiently clear boundaries from capital. After highlighting the lack of commons boundaries around FairCoop, we identify some additional commons‐capital boundary design principles which could contribute to the sustainability of future postcapitalist commons experiments that are seeking to scale.

Julio C. Mendoza-Tello, Xavier Calderón-Hinojosa

No abstract is available for this record.

XinRan Wei

No abstract is available for this record.

Sachinkumar Suthar, Naran M. Pindoriya

The blockchain technology and smart contracts have opened up several new horizons for the energy sector. One of them is the possibility of local energy trading in which prosumers can trade their excess energy at the desired price without intermediaries. This paper presents a blockchain and smart contract-based trading platform to realize such kind of local energy trading. The blockchain technology is used to record the power deliveries and transactions, while the smart contract is used to check necessary conditions before executing the energy transactions. An interactive web-based user interface is developed to access the decentralized energy trading platform that incorporates the secure financial and energy deviation settlement mechanisms. It aims to provide transparency, energy affordability, and energy self-sufficiency to the prosumers and consumers at the edge of the grid. It also seeks to increase the usage of distributed renewable energy-based generations and promotes long-term energy security.

Bahar Farahani, Farshad Firouzi, Markus Luecking

No abstract is available for this record.

Saumitra Chattopadhyay

The technology of smart contracts, which is an essential component of blockchain-based systems, has the potential to improve the efficiency, transparency, and safety of these systems. However, there are a number of challenges that need to be conquered in order to develop and implement smart contracts, particularly in regard to security, adaptability, interoperability, and meeting the standards imposed by legal and regulatory authorities. This paper examines ideas for designing and implementing smart contracts, as well as providing an outline of the challenges that have been encountered. In this article, we take a look back at 25 essential works that were published in the field between 2010 and 2019, and we discuss the impact that these works have had. According to the findings of our research, continual collaboration between the necessary stakeholders is required in order to fully realize the benefits given by smart contract technology while also limiting the risks associated with it.

Shurui Zhang, Jian Tang, Qiao Hu, Feng Liu

According to the National Internet Information Office's "Domestic Blockchain Information Service Filing", there had been 72 enterprises registered for providing blockchain-based financial services by the end of 2019, accounting for 17% of the total number, and 120 financial services had been filed. This data reflects the booming blockchain financial application, and the growing interest in blockchain finance. This paper uses qualitative analysis and scale method to analyze the blockchain financial derivatives cluster, based on the collection of 122 operating blockchain financial enterprises’ main businesses. The study finds that blockchain financial derivatives have advantages of mitigating information asymmetry and reducing transaction costs; compared with traditional finance, it also changes the form of transactions rather than the nature of finance (i.e. credit), and innovates related financial businesses focusing on credit and technology. The results of this paper provide an important reference for the business innovation transformation of traditional financial enterprises and investors' investment choices, and also suggests that the government should introduce relevant policies as soon as possible to regulate legal loopholes.

Yashita Goswami, Ankit Agrawal, Ashutosh Bhatia

E-governance, i.e., the use of information technology for government activities to provide services, exchange information, etc. are becoming increasingly popular. One such area of e-governance is e-tendering. While e-tendering makes the tendering process more efficient, a trust deficit remains between the citizens and the government, due to the centralized management of the whole tendering process. Several research works provide a decentralized solution to make the process of e-tendering more secure, transparent, and fair. However, in the present time, the government posts the problems/issues currently they are dealing with; and seems interested in taking the suggestions from the citizens to make the better solution for the problem. Thus, in this paper, a permissioned blockchain-based approach to provide a transparent and fair tendering system with citizens' active participation and tracking of funds is presented. In the proposed scheme, the citizens can see the tendering activities transparently and give ideas and suggestions to solve the government's posted problems and receive a due credit of that contribution is a fair manner.

Edson Corrêa Tavares, Edson Corrêa Tavares, Fernando de Souza Meirelles, Eduardo Corrêa Tavares · 7 authors

Blockchain is a recent certification technology that has strong potential to transform many business models and to have a social impact by providing solutions, including governance and sustainability. This paper presents a case study on a pioneering blockchain application on an online platform to negotiate forest credits issued for environmental services. The context is the management of the Green Treasure Program in the State of Amapá in the Amazon region of Brazil, a complex and interesting case for research. The purpose of this study is to identify how blockchain can contribute to the negotiation of environmental investments between the public and private sectors. For this purpose, we conducted qualitative research, a case study, using the lens of the theory of public value and an interpretative perspective. We seek to understand the connections between public value theory and the blockchain application.