Follow blockchain research across journals, conferences, and preprint repositories.
1,898 results · page 31 of 80
Chao He, Chunqiao Tan, W.H. Ip, C.H. Wu
No abstract is available for this record.
Carolyn Guthoff, Simon Anell, Johann Hainzinger, Adrian Dabrowski · 5 authors
Key management is an integral part of using distributed ledger technology (DLT). Previous work has primarily focused on key management for single-user scenarios on Bitcoin. Over the last decade, DLT has evolved to commercial and financial sectors; for example, a new German law allows the trading of a variety of financial securities via DLT. Instead of a single-user paradigm, financial institutions follow a multi-user paradigm. Combining multi-user key management with single-user key management solutions leads to unique challenges with usability and security. We extend current research through a two-stage qualitative interview study with 13 finance professionals. We investigate how the technical reality contrasts with perceptions of key management practices in corporate financial organizations. Our interdisciplinary study shows, among other things, that DLT does not meet real-world requirements in this particular domain. Moreover, it introduces additional challenges in terms of authentication and auditing. Our findings suggest that corporate financial institutions strongly support the adoption of blockchain solutions. However, to comply with regulatory and operational requirements, they face additional usability and security challenges, e.g., authentication and access control. Better mechanisms or novel design approaches are required to cover professional environments. This includes how multiple users can access the same assets and approve joint transactions.
Yu-Chin Wen, Araya Hongchindaket
As the world becomes more digitalized, decentralized financial transactions using digital currency known as cryptocurrency may become more accepted and used by the general public. 16 young adults were interviewed in a qualitative research about their basic cryptocurrency literacy and investment intention. The interviewees were asked open-ended questions about their knowledge on how to make cryptocurrency transactions, willingness to invest in cryptocurrency, barriers to cryptocurrency investment intention, and their future vision of cryptocurrency. The results showed a lack of basic cryptocurrency literacy amongst young adults, high unwillingness or reluctance to invest in cryptocurrency due to its poor reputation, and uncertainty about the future of cryptocurrency. Numerous barriers that must be overcome to make cryptocurrency more acceptable to general public use include addressing their issues of untrustworthiness, riskiness, and volatility, as well as improving certain conditions of the cryptocurrency market with increased stability, security, and more regulation to discourage criminal activities. If the issues with using cryptocurrency are addressed, digital marketing and banking will be revolutionized.
Huayi Qi, Minghui Xu, Xiuzhen Cheng, Weifeng Lyu
No abstract is available for this record.
Authors unavailable
The rising popularity of e-commerce has led to the widespread adoption of electronic coupons (e-coupons) due to their convenience and portability. However, traditional e-coupon services that rely on centralized servers often face security concerns. Centralization can result in issues like counterfeit e-coupons, difficulties in proving ownership, and the possibility of double-spending on expired e-coupons. In order to address these challenges, we have developed an innovative e-coupon service that harnesses the power of blockchain technology to enhance security. Our approach involves the creation of a dedicated server that facilitates the e-coupon service and interacts seamlessly with the blockchain system. To ensure the integrity of the e-coupon business logic and implementation information, we have developed a smart contract on an Ethereum-based blockchain system. By leveraging this blockchain infrastructure, we can establish a trustable and transparent environment for e-coupon transactions. Through rigorous experimentation and analysis , we have demonstrated that our proposed service significantly bolsters security while incurring only minimal performance impact when compared to existing e-coupon services. By integrating blockchain technology, we provide a robust solution that effectively addresses the concerns surrounding e-coupon security, paving the way for a more reliable and trustworthy e-commerce experience.
Tsan‐Ming Choi, Jing Chen, Li Guo, Xiaohang Yue
Platforms are giants in today’s operations. Companies like Amazon and eBay are huge enterprises which belong to top enterprises in the world. In this article, we discuss platform supply chain innovations in the blockchain era. We first search the literature and identify the level of popularity of the topic over the past years. Next, we review some closely related studies in the literature and introduce the featured papers in this IJPR special issue. After that, we identify research gaps, present the ABCDE framework and propose a future research agenda.
Komal Rauniyar, Xiaobo Wu, Shivam Gupta, Sachin Modgil · 5 authors
The objective of this paper is to understand the industry perspective towards the benefits of embedding blockchain technology (BCT) in global supply chains (GSC). A qualitative approach with the view of transaction cost economics (TCE) and diffusion of innovation (DOI) theory is applied. Semi-structured interviews with 23 industry experts showcased the benefits of application of BCT into GSC and this yielded interesting themes and sub-themes using the thematic analyses first yielding, the critical issues and challenges in traditional supply chains (TSC) and second, how BCT can contribute to overcome these challenges to support digital GSC; and third, possible challenges adapting BCT. This study advances the supply chain decision making complemented with elements of TCE and DOI theory through the application of BCT. GSC managers can deploy BCT integrated with the Internet of Things to effectively meet worldwide supply chain demands and complex situations.
Mitra Madanchian
Cryptocurrency has transformed the global economic system. It offers a novel and creative form of trade that has rapidly transformed the financial markets and the world of cash. A person's best allocation is determined by combining their priorities for risk reduction and upside opportunity with bitcoin's predicted diversity and return qualities. However, people have a poor tolerance for blockchain-based cryptocurrencies, owing to the rise of online fraud and the lack of a legal framework. In addition, there is a widespread misperception about its use on various platforms, which has left a void in the literature addressing this topic. This chapter will discuss the role and views of cryptocurrency users.
Stephan A. Davenport, Spencer C. Usrey
ABSTRACT The IRS issued Notice 2014-21 in which they classify cryptocurrency as property. However, the variety and usage of cryptocurrency has increased since Notice 2014-21 so that cryptocurrency has become a significant and widely accepted component of the global financial system. Cryptocurrency includes a diverse group of digital assets with different origins and uses. One type of cryptocurrency, Bitcoin, has been adopted as legal tender in two countries. Yet the IRS guidance for reporting cryptocurrency has not changed. In this paper, we examine the current regulatory framework regarding cryptocurrency. Next, we discuss alternative tax treatments for cryptocurrency and the tax effects of those potential treatments. Finally, we make policy recommendations for the tax treatment of cryptocurrency.
Renuka Sharma, Kiran Mehta, Ritik Rana
Young investors, fuelled by the hype and ads, are rushing to cryptocurrency exchanges with the hopes of generating rapid riches, and investors of the millennial generation especially believe cryptocurrency can make them billionaires. Crypto Research and Intelligence Business found that over 15 million Indians had accepted cryptocurrencies and invested close to $10 billion in crypto assets. Because of the ongoing changes over the last few years, changing from paper to virtual currency, a new type of currency, namely cryptocurrency, has emerged. Shorter transaction times and lower transfer fees are two of the advantages that cryptocurrencies offer to their potential users. The concept of cryptocurrency is underpinned by decentralised technology, which has captivated the interest of a variety of stakeholders. This research examines millennial cryptocurrency adoption behaviour in India.
Won Seok Choi, Jongsoo Woo, James Won‐Ki Hong
With the rise of NFTs, which serve as proof of ownership for assets, security tokens that enable transactions without intermediaries have become a popular topic. Tokenization eliminates the need for centralized markets and allows for fast trades. In addition to tokenization, there are attempts to increase asset liquidity by fractionalizing them, a concept known as fractional ownership. Despite the existence of some platforms that use tokenization and fractional ownership, there is still limited research on fractional NFTs, and institutional support is lacking. In this paper, we propose possible implementations of fractional NFTs and evaluate their gas costs, which are crucial for providing fractional NFT-related services. As most NFTs are minted based on the Ethereum blockchain, we implement fractional NFTs using ERC standards. Our evaluation shows that ERC-721 or ERC-1155 NFTs fractionalized into ERC-20 FTs have the lowest long-term gas costs.
Biao Xu, Hao Li, Xiaodan Zhang, Thomas G. Brashear
No abstract is available for this record.
Darcy W E Allen, Jason Potts
The development of Web3 — a stack of decentralised technologies underpinned by blockchains — isn’t simply a technical or financing challenge, it is also a problem of innovation and entrepreneurial discovery. In this paper we apply the lens of user innovation toolkit theory to the development of Web3. Toolkits are an organizational design solution to an innovation problem with sticky and local information. Our aim is to explore how toolkits theory applies to Web3 innovation, proposing that Web3 innovation is being organized through toolkits (e.g., blockchains, token standards, DAO frameworks) that enable efficient organization of sticky information to facilitate innovation. The contribution of this paper is the first application of toolkits theory to Web3, reframing its development as a problem of entrepreneurship and innovation in the context of distributed information. We provide implications for the role of developers as user innovators, the economic problem of emergent toolkit stacking, and the design of toolkit business models.
Marcelo Garson, Mário Messagi, Leonardo De Marchi
Este artigo analisa a ideologia, os usos e as implicações do NFT (Non-Fungible Token) para a economia da música. O NFT resgata a ideologia da desintermediação das relações econômicas ao prometer retornos financeiros mais altos ao artista, decorrentes de sua conexão direta com o consumidor. A tecnologia, no entanto, reorienta a carreira dos artistas, bem como sua relação com os fãs. Informado pela filosofia anarcocapitalista, o uso do NFT tem condicionado artistas a verem suas obras como ativos valorizáveis, cabendo aos fãs o papel de investidores. A partir da análise bibliográfica, investigamos: (1) a ideologia da desintermediação na economia da música, (2) a inspiração anarcocapitalista no desenvolvimento de tecnologias financeiras, como o NFT, (3) o uso do NFT no mercado de música e (4) o papel dos fãs em uma economia da música financeirizada. Como conclusão, apontamos como o uso de tecnologias como o NFT faz parte de outro momento da indústria da música que pode ser rotulado como pós-streaming.
Thomas Brzustowski, Alkis Georgiadis-Harris, Balázs Szentes
This paper reconsiders the problem of a durable-good monopolist who cannot make intertemporal commitments. The buyer’s valuation is binary and his private information. The seller has access to dynamic contracts and, in each period, decides whether to deploy the previous period’s contract or to replace it with a new one. The main result of the paper is that the Coase conjecture fails: the monopo-list’s payoff is bounded away from the low valuation irrespective of the discount factor. (JEL D42, D82, D86, L12)
Vincent Gramlich, Tobias Guggenberger, Marc Principato, Benjamin Schellinger · 5 authors
Abstract While decentralized finance (DeFi) has the potential to emulate and, indeed, outperform existing financial systems, it remains a complex phenomenon yet to be extensively researched. To make the most of this potential, its practitioners must gain a rigorous understanding of its intricacies, as must information systems (IS) researchers. Against this background, this study uses a multivocal literature review to capture the state of research in DeFi. Thereby, we (1) present a consolidating definition of DeFi as we (2) analyze, synthesize, and discuss the current state of knowledge in the field of DeFi. We do so while adapting the blockchain research framework proposed by (Risius and Spohrer, Business & Information Systems Engineering 59:385–409, 2017). Furthermore, we (3) identify gaps in the literature and indicate future research directions in DeFi. Even though our findings highlight several shortcomings in DeFi that have prevented its widespread adoption, our literature review shows a large consensus on DeFi’s many promising features and potential to complement the traditional financial system. To that end, this paper is presented to encourage further research to mitigate the current risks of DeFi, the payoff of which will be an enriched financial ecosystem.
Alex Norta, Indrek Ibrus, Alan R. Milligan
Abstract The audiovisual media content (AMC) industry, focused on film and television drama production, is confronted with a broken business model due to the dominance of centralized streaming platforms. The top platforms dominate global distribution but only offer slices of produced and heritage content. In addition, they compete with the AMC industry by producing a majority of content distributed. This leaves fewer gatekeepers deciding on the content to be distributed and less diverse content easily accessible to audiences Consequently, audiences are compelled to engage in pirating movies despite a willingness to pay. Recent blockchain innovations towards the so-called Web3 promise to restore this broken business model by re-establishing direct contact between the producers of films and their audiences. The benefits of networks (peer-to-peer or community based) in combination with Web3 follow the principle of decentralized disintermediation while comprising elements such as FIAT to crypto-payment mechanisms, self-sovereign identity authentication, blockchain oracles, decentralized autonomous organizations (DAO), and so on. A gap exists with regard to methodological designs of Web3 decentralized applications (DApp) and their ecosystems for restoring a viable AMC business model that not only eliminates the need for piracy activities but even the need for platforms. The DApp architecture designs for the film- and media industry ecosystem creation in this paper allow, on the one hand, for a legal compliance check ahead of a costly deployment. On the other hand, the DApp designs of this paper also allow for a tailored blockchain technology stack development. Ultimately, this research is a continuation of an earlier whitepaper to establish a participatory economy in the film industry from peer-to-peer streaming.
Dun Li, Dun Li, Dezhi Han, Tien-Hsiung Weng · 8 authors
No abstract is available for this record.
Arindam Das
No abstract is available for this record.
Jorge Saldivar, Elena Martínez-Vicente, David Rozas, María Cruz Valiente · 5 authors
Upon its arrival, the Ethereum blockchain promised to introduce a new paradigm of Internet-based applications that would revolutionize multiple fields, from finance to IoT to the public sector. Until now, scientific efforts have been primarily focused on theoretical discussions about the implications of the technology and on technical proposals to improve and consolidate the underlying infrastructure, neglecting the experience of people using blockchain-based systems. However, for this technology to permeate the mainstream, blockchain technology should be easily accessible to the general public. This paper reports on evaluations conducted with first-time blockchain users of two Internet-mediated communities using prototype applications built on Ethereum. Results unveil that even users familiar with technology experienced severe difficulties using blockchain-based apps. Also, we saw how blockchain metaphors and transaction-mediated interactions challenge established mental models for modern applications, imposing heavy workloads on users. We conclude the paper by discussing design implications resulting from blockchain’s paradigm change.
Tanusree Sharma, Yujin Potter, Kornrapat Pongmala, Henry E. Wang · 7 authors
Decentralized Autonomous Organizations (DAOs) have emerged as a novel way to coordinate a group of (pseudonymous) entities towards a shared vision (e.g., promoting sustainability), utilizing self-executing smart contracts on blockchains to support decentralized governance and decision-making. In just a few years, over 4,000 DAOs have been launched in various domains, such as investment, education, health, and research. Despite such rapid growth and diversity, it is unclear how these DAOs actually work in practice and to what extent they are effective in achieving their goals. Given this, we aim to unpack how (well) DAOs work in practice. We conducted an in-depth analysis of a diverse set of 10 DAOs of various categories and smart contracts, leveraging on-chain (e.g., voting results) and off-chain data (e.g., community discussions) as well as our interviews with DAO organizers/members. Specifically, we defined metrics to characterize key aspects of DAOs, such as the degrees of decentralization and autonomy. We observed CompoundDAO, AssangeDAO, Bankless, and Krausehouse having poor decentralization in voting, while decentralization has improved over time for one-person-one-vote DAOs (e.g., Proof of Humanity). Moreover, the degree of autonomy varies among DAOs, with some (e.g., Compound and Krausehouse) relying more on third parties than others. Lastly, we offer a set of design implications for future DAO systems based on our findings.
Weili Chen, Mingdong Tang, Zibin Zheng
The birth of Bitcoin created the era of cryptocurrency. At present, thousands of tokens are being published on blockchains, led by the popularity of Initial Coin Offerings (ICOs), launched by startups. Many have studied the token ecosystem from the perspective of economics. However, little is known about the characteristics of participants and tokens in the ecosystem. In order to fill this gap, and considering that more than 80% of ICOs are launched based on Ethereum, this article conducts a systematic survey of the Ethereum ERC20 and ERC721 token ecosystem to characterize the creators and holders of the tokens and transfer activities. By downloading the entire blockchain, and analyzing transaction records and event logs, we constructed three complex network graphs, a token creator graph, a token holder graph, and a token transfer graph. By analyzing these graphs, we are able to obtain many observations including token activeness distribution, token holder distribution, token relationship, and characteristics of token creation and decentralized exchanges. In addition, we propose an algorithm to reveal potential relationships between tokens and other addresses on Ethereum. The example shows that the proposed algorithm can effectively discover complex relationships between many accounts and find entities of addresses.
Aggelos Kiayias, Ηλίας Κουτσουπιάς, Philip Lazos, Giorgos Panagiotakos
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms currently deployed in popular platforms as well as previous modeling attempts for the associated mechanism design problem focus on an approach that favors increasing prices in favor of those clients who value immediate service during periods of congestion. To address this issue, we introduce a model that captures the traffic diversity of blockchain systems and a tiered pricing mechanism that is capable of implementing more inclusive transaction policies. In this model, we demonstrate formally that EIP-1559, the transaction fee mechanism currently used in Ethereum, is not inclusive and demonstrate experimentally that its prices surge horizontally during periods of congestion. On the other hand, we prove formally that our mechanism achieves stable prices in expectation and we provide experimental results that establish that prices for transactions can be kept low for low urgency transactions, resulting in a diverse set of transaction types entering the blockchain. At the same time, perhaps surprisingly, our mechanism does not necessarily sacrifice revenue since the lowering of the prices for low urgency transactions can be covered from high urgency ones due to the price discrimination ability of the mechanism.
Lennart Ante, Florian Fiedler, Fred Steinmetz, Ingo Fiedler
With ownership estimates of up to 25%, Turkey is at the forefront of cryptocurrency adoption, rendering it an interesting example to study the proclaimed use cases of cryptocurrencies. Using exploratory factor analysis based on a sample of 715 Turkish cryptocurrency owners, we identified 3 different owner groups and their underlying motives. The first group (payment users) looks at cryptocurrency as an option for payments, thereby disregarding its speculative element, while the second group (crypto investors) can best be described as experienced investors holding cryptocurrency as part of their investment strategy. The third group (crypto traders) consists of risk-tolerant traders. Further analyses show that groups not only differentiate by demographics, income and education, but also by factors such as ideology, purchase intention and the use of domestic or foreign exchanges. The results contribute to the understanding of Turkish cryptocurrency owners, their intrinsic and extrinsic motivations and can be incorporated into the pending regulatory processes in the country. The findings suggest that cryptocurrencies have outgrown the use case of mere speculation in Turkey. Those in the group of Turkish payment users are identified as potential lead users whose current needs may represent common needs for crypto users in similar markets in the future. These findings motivate further research on the diffusion and usage patterns of cryptocurrency in emerging markets and innovation in general in the context of lead markets.