Everyone may have a different understanding of the utility of cryptocurrency, but blockchain technology is esteemed as the main technology. In blockchain technology, a series of data are linked together. This technology binds every single transaction with a chain of transactions linked in batches by building different blocks based on the principles of cryptography. These blocks are mutually connected with a unique identifier code called “hash,” which connects the previous blocks with succeeding ones. Overall, this is called a “blockchain” which forms an incessant ledger of transactions. This is not under the control of a single entity, but is decentralized. The whole chain is formed connecting many computers. The ledgers are shared, copied, and stored among those computers. Bitcoins and similar cryptocurrencies are based on blockchain technology. The specialty of blockchain technology, as well as the reason for its popularity, is its transparency and security. On 1 August 2019, the retail business giant Wal-Mart filed a patent for a stable coin via blockchain, which is backed by USD. Various other industries have also been heavily influenced by this technological revolution. Blockchain technology has the potential to become the next major disruption. Blockchain is the technology that countenances cryptocurrencies to occur. The blockchain has the latent to reform the way the financial worth of products is measured in trade. The prospect of blockchain technology is full of perspectives and opportunities. The significance of cryptocurrencies is reliant on the cost of generating belongings of its fundamental blockchain. This chapter deliberates the introduction of the blockchain, background of Bitcoin and cryptocurrency, its history, and definitions. Nevertheless, this chapter also discusses some cybersecurity aspects of blockchain.
Purpose With the conceptualization of the blockchain as a socio-technical assemblage, this study aims to critically examine the blockchain initiatives in Korea in terms of the opportunities, risks and challenges embedded in their development. Design/methodology/approach This paper analyzes blockchain design and development from socioecological views: social, technological and cultural phenomena that represent the strategic interaction among people, technology and society. The qualitative data were collected from a variety of sources and diverse means. Findings The results imply that blockchain needs a close socio-technical examination to avoid simplistic assumptions of its promises and pitfalls. The development of blockchains in Korea will need to consider a range of socio-technical issues to facilitate the best outcomes for blockchain in society. Research limitations/implications Despite proactive drives, new risks, such as security, privacy and transparency, emerge as critical concerns of the social implications of the blockchain and their impact on the new digital environment. Questions are raised as to how to govern blockchains, and how to address the unexpected outcomes that such a policy choice may have on society and industry. Originality/value The sociopolitical implications of Korean blockchains are examined to identify key concerns and issues as the country progresses rapidly toward a blockchain-driven society.
The blockchain is a distributed, decentralized, and immutable database system built on top of peer-to-peer (P2P) network through which digital assets can be transferred securely from all over the world. After the successful implementation of blockchain in Bitcoin, many applications and platforms evolved for the development of blockchain technology. Ethereum is one of the most widely used blockchain platforms for developing the Dapps. This chapter presents the specifics of functioning, drawbacks, and problems in the current crowdfunding platforms such as Kickstarter. Using Ethereum and the concept of smart contracts, the crowdfunding platforms can be implemented in a secure and profound way without being afraid of the fraudulent spending of the money raised through the funding. In this chapter, all the details and the technicalities in the implementation of the crowdfunding platform through Ethereum blockchain network are elucidated in a scholarly manner.
ABSTRACT This case examines auditing implications of Bitcoin and blockchain, and is intended for either undergraduate or graduate auditing and assurance courses. Students are asked to engage in aspects of planning and risk assessment for the audit of an online retailer. The case provides an interesting setting in which to achieve the learning objectives of: (1) identifying risks of material misstatement, (2) linking risks of material misstatement to relevant financial statement assertions, (3) explaining changes in audit procedures for responding to risks, (4) understanding a financial statement auditor's use of service auditor reports, and (5) understanding management specialists and the role they play in an audit. The modular case can be used for in-class discussion or as an out-of-class assignment and requires minimal advance preparation by the instructor. The case may be assigned in part or in its entirety. Student responses indicate the case is interesting and offers a positive learning experience.
Islam El‐Sayed, Komal Khan, Xavier Domínguez, Pablo Arboleyá
The ever growing energy demand due to population growth, higher penetration of electric vehicles and smart appliances, as well as superior living standards, is a demanding incentive to the better utilization of conventional and renewable energy systems. Moreover, to facilitate the emerging requirements of prosumers to participate in the electricity market and monetise their efforts towards distributed energy deployment, traditional centralised energy trading architectures are no longer viable. In this context, blockchain-based ledger technology emerges as the most feasible solution which offers a peer to peer (P2P) energy trading platform providing a unique distributed local energy market model for beneficial energy exchanges among participants. This will represent a significant evolution for future smart grids. In this regard, this work provides a ground understanding as well as all the necessary technical details and procedures required to implement a pilot-platform P2P energy trading system based on blockchain technology. All the source codes have been uploaded and socialized. This may support academics and entrepreneurs at the initial development stage of these kind of initiatives.
Abstract The energy system is evolving from smart grid to energy Internet. Virtual power plant (VPP), as an important part of the energy Internet, plays an important role in the distributed energy generation and trading. In this article, a blockchain‐based VPP transaction model is established for the future energy Internet driven by real‐time electricity price. Then the smart contracts for distributed energy trading in VPPs using blockchain technology are proposed, and the key technological difficulties are analyzed and the solutions are given. Experiments show that the proposed model can reflect the supply and demand information in real time, so that two‐way selection can be carried out under the condition of information symmetry when distributed energy is connected to the grid. If our method is applied, we can help distributed energy suppliers set electricity prices, reduce the trust cost and improve the energy trading efficiency. Also, we can help the distributed energy voluntarily participate in VPPs and joint maintain the system, then solve the problem of VPP's coordinated control and scheduling of distributed energy resources.
The recent spurt of incidents related to copyrights and security breaches has led to the monetary loss of several digital content creators and publishers. These incidents conclude that the existing system lacks the ability to uphold the integrity of their published content. Moreover, some of the digital content owners rely on third parties, results in lack of ability to provide provenance of digital media. The question that needs to be addressed today is whether modern technologies can be leveraged to suppress such incidents and regain the confidence of creators and the audience. Fortunately, this paper presents a unique framework that empowers digital content creators to have complete control over the place of its origin, accessibility and impose restrictions on unauthorized alteration of their content. This framework harnesses the power of the Ethereum platform, a part of Blockchain technology, and uses S mart Contracts as a key component empowering the creators with enhanced control of their content and the corresponding audience.
Blockchain Technology Applications and Security
FinTech, Crowdfunding, Digital Finance
Advanced Steganography and Watermarking Techniques
Distributed banking platforms and services forgo centralized banks to process financial transactions. For example, M-Pesa provides distributed banking service in the developing regions so that the people without a bank account can deposit, withdraw, or transfer money. The current distributed banking systems lack the transparency in monitoring and tracking of distributed banking transactions and thus do not support auditing of distributed banking transactions for accountability. To address this issue, this paper proposes a blockchain-based distributed banking (BDB) scheme, which uses blockchain technology to leverage its built-in properties to record and track immutable transactions. BDB supports distributed financial transaction processing but is significantly different from cryptocurrencies in its design properties, simplicity, and computational efficiency. We implement a prototype of BDB using smart contract and conduct experiments to show BDB’s effectiveness and performance. We further compare our prototype with the Ethereum cryptocurrency to highlight the fundamental differences and demonstrate the BDB’s superior computational efficiency.
Given the exploding number of the elderly and patients with chronic diseases and the uneven distribution of clinicians, it is economically impossible to continue traditional medicine. Hence, the healthcare sector has been gradually gravitating towards telemedicine, which applies intelligent systems for more comprehensive medical services with minimum costs. The criticality of data and process involved in telemedicine raise various concerns in terms of reliability and security. To this end, in this paper, we propose HapiChain, a blockchain-based framework for patient-centric telemedicine. HapiChain exploits blockchain technology to improve security, scalability, and reliability of medical workflows. Although HapiChain is patient-centric, it also helps the clinicians to save time and prevent unnecessary trips without improvising the level of treatment. In HapiChain, we embed two primary telemedicine services, namely telemonitoring and teleconsultation. For the former service, Hapicare, an existing healthcare monitoring system with self-adaptive coaching using probabilistic reasoning, is used. HapiChain then completes this service by adding teleconsultation services exploiting blockchain technology. The HapiChain framework includes three main layers: (i) interface layer, (ii) DApp layer, and (iii) blockchain layer. In the first layer, Hapicare is used to communicates with the users, i.e., patients and doctors. DApp layer includes the required procedures for security and scalability of HapiChain, namely smart contracts and distributed storage. The latter is achieved using the InterPlanetary File System (IPFS). In the blockchain layer, Ethereum blockchain is used as a platform of DApps. We evaluate the HapiChain framework and the proposed teleconsultation services in a use-case.
In 2019, a team at the Federal Reserve Board (Board) conducted small-scale experimentation, named the "FooWire project," to build a payment system using distributed ledger technology (DLT). The team built the system using Hyperledger Fabric, a popular DLT platform, because it generally met the team's design requirements of a closed network, mature technology, and enterprise readiness.
Blockchains are globally gaining traction and gradually disrupting the traditional transactional eco-systems by eliminating the non-value adding parties in the value chain. Although blockchains enables digital currency transactions, distributed consensus models and provenance, the problem of scalability, security and privacy has to be solved for the blockchains to be utilized in its full potential. Typically all the transactions recorded in blockchain are visible to all the participants. Even though some blockchain frameworks offers private transactions they still lack transactional privacy and confidentiality. Privacy preserving smart contracts is an emerging field which guarantees the privacy of transactions during runtime and ensures confidentiality as well. In this paper we analyze various frameworks and methodologies and propose a systematic way of choosing the right privacy preserving smart contract framework for enterprise needs and requirements.
There are three stages in the development of supply chain finance. At present, online supply chain finance serves the supply chain business with its significant advantages. Due to the information asymmetry caused by the joint tampering of transaction information, supply chain finance is facing the bottleneck of credit crisis. The financing difficulty of small and medium-sized enterprises has affected their survival. As a new forward-looking technology, blockchain has the characteristics of decentralization, information tamperability and traceability. This paper introduces blockchain technology into the supply chain financial service system, reflects the whole chain business logic through blockchain network, proposes the supply chain financial model based on blockchain technology, constructs the cloud computing credit service system based on blockchain network, and effectively relieves the supply chain Chain credit crisis promotes the development of supply chain financial business.
This paper proposes a smart contract based approach enabling Internet of Things devices to exchange data in a secure and automatic way. This leads to new digital business models as pay-per-use establishing the vision of the Economy of Things. By using a blockchain there is no need for a trusted third party to secure transactions. We propose a novel use of smart contracts for assurance of data integrity, encryption key provision and payment. Thereby, a three layer architecture consisting of physical layer, on-chain layer and off-chain layer is designed. Proof of concept is based on an Ethereum Blockchain using Bosch XDK devices.
Aug 1, 2020·2020 IEEE Intl Conf on Dependable, Autonomic and Secure Computing, Intl Conf on Pervasive Intelligence and Computing, Intl Conf on Cloud and Big Data Computing, Intl Conf on Cyber Science and Technology Congress (DASC/PiCom/CBDCom/CyberSciTech)
Multi-Agent Systems (MAS), a group of agents that work together to solve complex problems, always have concerns around trust management among the agents in a cyber physical system. With the technological advancements in decentralization, automation, and interactions between physical and software agents, the demand for using MAS is increasing though trust management between the agents remain challenging. To alleviate these challenges, the focus of this paper is to explore blockchain based smart contracts for trust management in MAS, especially in the following three aspects: analyzing the interaction mechanism of smart contracts within a MAS environment; providing a potential framework for smart contract based trust management for MAS; and finally, discussing the challenges of deploying and integrating smart contracts within a MAS framework. The outcome of this paper provides a novel approach to solidifying agent to agent trustworthy communication.
Crowd funding is an online cash raising technique that started as a path for the people to contribute limited quantity of money to enable innovative individuals to fund the venture. Using crowdfunding, people can put resources into pioneering businesses through a middle medium or platform. The issue with the current crowd funding technique is that, third party medium don't give the assurance of the money investor contributed for the project and investor don't have control over the cash they contributed. This paper proposes the blockchain based crowd funding by using which the platform can give a private, secure and decentralized path for crowdfunding. The main objective of this paper is to let investors contribute to any project effectively by creating smart contracts through which the contributors can have a control over the invested money and also both the project creators and investors can effectively make and reserve funding for the project.
Purpose The continuous presence and intensity of the Internet of things (IoT) in our lives and the risk of security breaches in traditional transactional and financial platforms are the major cause of personal and organizational data losses. Blockchain emerges as a promised technology to ensure higher levels of data encryption and security. Thus, this study aims to develop a systematic literature review analyzing the previous literature and to purpose of a framework to better understand the process of blockchain security. Design/methodology/approach The 75 articles reviewed were obtained through the Scopus database and a bibliographic-coupling analysis was developed to identify the main themes of this research area, via VOSviewer software. Findings The results enable the categorization of the existing literature revealing four clusters: 1) feasibility, 2) fintech and cryptocurrency, 3) data trust and share and 4) applicability. Blockchain technology is still in its early stage of development and counting on researchers in security and cryptography to take it further to new highs, to allow its applicability to different areas and in long-term scenarios. Originality/value This systematic literature creates a base to reduce the blockchain security literature gap. In addition, it provides a framework that enables the scientific community to access the main subjects discussed and the articulation between concepts. Furthermore, it enhances the state-of-the-art literature on blockchain security and proposes a future research agenda.
Umut Uyar, Göksal Selahatdin Kelten, Tuncay MORALI
Bireysel ve kurumsal yatırımcıların finansal piyasalarda yatırım kararları alırken sıklıkla kullandıkları analizler temel analiz ve teknik analiz şeklinde ikiye ayrılmaktadır. Temel analiz; makroekonomik gidişatı, sektörel gelişmeleri ve spesifik olarak yatırım yapılacak varlığın finansal göstergelerini dikkate alırken, teknik analiz; finansal varlıkların geçmiş fiyat hareketlerinden yola çıkarak bu finansal varlığın gelecekteki fiyat hareketlerini tahminlemeye çalışmaktadır. Teorik altyapısı Dow Teorisine dayanan ve “finansal varlığın geçmiş fiyat hareketleri zamanla tekrarlanacaktır” gibi bir takım varsayımlar barındıran teknik analiz yöntemine göre yatırım kararı alınırken çeşitli indikatörler, osilatörler ve formasyonlar kullanılmaktadır. Bu göstergelerden Hareketli Ortalamaların Yakınsaması/Uzaklaşması (MACD), Bollinger Band (BBand), Göreceli Güç Endeksi (RSI) yatırımcıların sıklıkla kullandıkları göstergeler arasındadır. Bu çalışmada 2014-2018 Bitcoin (BTC) ve Ethereum (ETH) günlük fiyat verileri kullanılarak MACD, BBand ve RSI test edilmiş, BTC ve ETH Al/Sat kararları tahmin edilmeye çalışılmıştır. Çıkan sonuçlar neticesinde kripto paraların yatırımcılara sağlayacağı getiriler hesaplanmıştır. Finansal piyasalarda en fazla işlem gören kripto paraların analiz edildiği çalışmada, yatırım kararlarında teknik analizin ne derece etkili olduğu ve bu yatırımlardan teknik analiz kullanılarak herhangi bir getiri sağlanıp sağlanamayacağı irdelenmiştir. Elde edilen bulgulara göre BBand, RSI ve MACD yöntemleri birbirleri ile çelişkili sinyaller verebilmektedir. Bu nedenle yatırımcıların kullanacakları analiz yöntemine göre kazanç ve kayıplarının farklılaşabileceğini söylemek mümkündür
economics research paper,research journal,paper publish,Economy journal,management ,finance , business,management journal,business journal, finance journal,business and management research journal human resources management
Karsten Schulz, Oskar Josef Gstrein, Andrej Zwitter
Societies at large still grapple to categorize digital space as a phenomenon. At the same time, scientists and developers are searching for innovative methods to better understand how the fundamental shifts caused by digital change will affect the future of humanity over the coming decades. Interdisciplinary governance research at the intersection of technological and environmental foresight is urgently needed to minimize the risks of technological change and explore how digitalization may support, hinder or re-shape sustainability transformations. In this article, we focus on the case of ‘blockchain’ or distributed-ledger technology (DLT) to investigate how recent digital technologies may support the implementation of sustainable development initiatives. Our investigation is centered on areas of public administration and governance which will most likely see an adoption of DLT over the next two decades, such as digital identity, social service provision, and innovative climate finance. To allow for a meaningful comparison of various use cases, we propose four guiding questions that can help researchers, decision-makers and practitioners to determine whether DLT might be an appropriate choice for the sustainability-related task at hand. Moreover, we illustrate how the initial design and subsequent implementation of DLTs may support more centralized or networked modes of governance.
This paper presents a literature review on the role of the distributed ledger technology in promoting stakeholder trust for charitable organisations. The purpose of this review is to capture existing knowledge on the relationship between the following key variables: charity, trust and accountability, and distributed ledger technology – with emphasis on blockchain technology as a primary example of this technology. After shortlisting the discovered literature pool to 35 papers, the following three themes were identified. The first theme presents the various definitions of key concepts in crypto-philanthropy literature. The second theme captures existing views on why stakeholder trust is declining in charitable conduct. These views include: (1) organisational boundary shifts; (2) monitory complexity; and, (3) poor regulatory design. The third and final theme presents a hypothesis on how the distributed ledger technology can promote trust for charities. The technology is hypothesised to promote trust by drawing on the following three elements: (1) decentralisation; (2) provenance; and, (3) rule-enforcement. A number of shortcomings are then highlighted in the literature pool. The first shortcoming pertains to the inconsistent treatment of key concepts in crypto-philanthropy studies. The second shortcoming pertains to the lack of discussion on whether the distributed ledger technology may potentially decrease stakeholder trust if implemented irresponsibly by charities. In conclusion, a series of future research pathways are provided. These recommendations include: (1) clarifying key concepts; (2) suggesting “crypto-philanthropy” as a formal disciplinary title; (3) highlighting under-researched areas; and, (4) recommending strategies for building a new crypto-philanthropic theory. From an academic perspective, the findings contribute to literature by bridging the gap between crypto-economic, institutional governance and nonprofit accountability theories. The findings may also guide charity managers, regulators and policy-makers in understanding the capacities of the distributed ledger technology in legitimising charitable conduct.
Blockchain is a distributed ledger where transactions are stored in blocks and spread across a peer-to-peer network where every node holds a copy of the ledger. Encryption is a base concept for blockchain. Blockchain is a peer-to-peer technology where the integrity of digital information is protected. The blockchain ledger records every sequence of transactions from beginning to end whether it is many or one. There are certain factors which influence shifting of social media with underlying blockchain technology. Verification of online identities is in increased demand. Fake IDs and vulnerability to fraud can be mitigated where the identities of customers can be verified using blockchain technology and smart contracts. Blockchain-based social media use digital currencies to reward creators and viewers. They are a great alternative to current traditional social media platforms. Some of the platforms of blockchain-based social media are: Steemit, Obsidian, Earn, Indorse, Social X, Enlte, Voice, Sapien, Sola, Ong.Social, Minds, SoMee, Smoke, Alfa, and so on.