We research on the adoption of Blockchain Technology (BC) used by auditors because BC has the power in essentially transform the audit industry. At an early stage we examined the knowledge held by auditors in accounting and audit, their legality of using software of accounting, and their knowledge of BC. We use this aspects because they have positive impact on the auditor's intention to adopt BC. We also examine the auditor's judgment regarding the sample size of the transactions taking into account the concept of materiality. Ultimately, we consider the role of the auditor's degree of professional skepticism (PS), which is defined as a professional standard that critically assesses existing evidence and questions minds. We assume that materiality and Professional Skepticism have a negative impact on BC adoption. Questionnaire to survey was conducted on external auditors, aims to obtain empirical data that can verify our research model. Our research's intention is to analyze extant research about blockchain technology, also assess the impact of blockchain in the audit profession, also to identifies several important components that can influence auditors to adopt BC and provides guidance for research and practice.
The adoption of blockchain technology (BT) is becoming increasingly important to the logistics industry. It is expected to make the entire supply chain process more efficient and competitive by providing visibility, reliability, and economic viability. This study aims to explore factors influencing the adoption of blockchain in the logistics industry and examine the effects of the reciprocal causal relationship between the identified factors. Empirical research aimed at understanding the functional characteristics of BT and bolstering its application is considerably lacking. This study, therefore, aims to examine the concepts and the types of BT based on a literature review related to blockchain. Factors affecting blockchain adoption are identified using a model, which was developed using the unified theory of acceptance and use of technology (UTAUT) and the technology-organization-environment (TOE) frameworks as well as a literature review. The results provide fundamental insights into the adoption of BT in the logistics industry by increasing the understanding of associated factors and underscoring the functional characteristics of this emerging technology.
Abstract With the development of Internet finance, existing financial platforms have gradually formed a large-scale, dynamic operating environment. How to ensure information security and realize personal credit evaluation is an urgent problem to be solved in the development of Internet financial platforms. The rise of blockchain technology has provided new solutions for the management of Internet financial platforms and information security. In view of the shortcomings of the current Internet financial credit evaluation, this article discusses the key standards of personal credit evaluation. With the help of blockchain, decision tree, and other technologies, this paper designs the credit evaluation process and establishes personal credit evaluation technology. Experiments and analyses show that this technology can effectively improve the transparency of personal credit information in Internet finance. This technology is used to study credit risk assessment factors and provide new solutions for the intelligent transformation and upgrading of Internet finance.
The advent of blockchain technology has sparked a revolution in various industries, with a profound impact on financial accounting practices. This review research paper explores the transformative potential of blockchain in reshaping traditional accounting frameworks. By leveraging a decentralized and transparent ledger system, blockchain introduces unprecedented levels of security, efficiency, and accuracy to financial transactions. This paper delves into the key components of blockchain technology, such as distributed ledgers, consensus mechanisms, and smart contracts, elucidating their role in revolutionizing financial accounting. The review critically examines the implications of blockchain adoption for financial reporting, audit processes, and regulatory compliance, shedding light on the emerging challenges and opportunities. Furthermore, the integration of artificial intelligence (AI) in conjunction with blockchain is explored as a synergistic force that amplifies the transformative impact on financial accounting. AI-driven algorithms enhance data analysis, fraud detection, and decision-making processes, augmenting the overall efficiency and reliability of financial information.
Bitcoin is the most popular cryptocurrency with the highest market value. It was said to have potential in changing the way of trading in future. However, Bitcoin price prediction is a hard task and difficult for investors to make a decision. This is caused by nonlinearity property of the Bitcoin price. Hence, a better forecasting method is essential to minimize the risk from inaccuracy decision. The aim of this paper is to first compare three different neural networks which are Feedforward Neural Network (FNN), Nonlinear Autoregressive with Exogenous Input (NARX) Neural Network and Nonlinear Autoregressive (NAR) Neural Network by obtaining the predicted result for each model. The best model is identified by evaluating the performance measurement of each model. After obtaining the best model, it is used to undergo 30 days ahead forecast. The result showed that the performance of NARX out-performed FNN and NAR. It is proven NARX is the suitable neural network to forecast Bitcoin price. The resulting model provides new insights into Bitcoin forecasting using NARX which directly benefits the investors and economists in lowering the risk of making the inaccurate decision when it comes to investing in Bitcoin.
The land is an immovable property. Tracing the details of property and involvement of third-party is the challenging task. Fraudulent may forge documents and mislead the purchaser and if it's a litigate land it takes many years in the court battle, waste of time and resource. Problems escalate in this current land registration process which is non-transparent. Such demands made to integrate technologies and lead to the blooming of blockchain technology. Blockchain is a decentralized and transparent ledger. The smart contract is the confirmable and permanent document between two parties. This proposed framework is used to develop a registration application system in which new purchaser has to register and continue with the further process. The proposed research work is implemented using SHA256 algorithm which provides unique hash values for the messages getting stored in blocks and ethereum blockchain technology is used to store both smart contract and transaction details.
The blockchain is a revolutionary technology that works on a distributed ledger system. It is a decentralized network topology with a heightened level of security. All the transactions are stored in individual blocks. Each new transaction is recorded in a new block which has to be validated by the users connected to the network. All of these blocks are interlinked in the form of a chain. Hence, the name blockchain. The timestamp of each transaction is recorded in a tamper-proof manner. In other words, any addition or changes in data is recorded with a time stamp that cannot be altered. Because of the high level of transparency in the system, the blockchain is much more secure and the data integrity is preserved. Machine learning is when a machine learns either by programs or by its experience, it is called as machine learning just the way the name suggests. Just like the process of human learning, machine learning also constitutes of identifying patterns in given data and designing a more efficient system to outperform the previous versions. A simple day-to-day example of this is when we mark an email as spam and the mailbox assigns the future emails from that email id to the spam folder without human intervention. Machine learning can be very useful in financial sectors or consulting sector where new patterns can be unearthed. Machine learning is a technology that relies on extensive quantities of data for model building and accurate prediction. A lot of time is invested in collecting, organizing and auditing this data for accuracy. This is where blockchain comes into play as the time taken can be considerably decreased by using blockchain technology. By using smart contracts in this case, data can be transferred directly and securely. Blockchain and machine learning perfectly complement each other and very much are the two pillars on which the future innovations are to be built. These two together are bound to make ground-breaking innovations in the near future while also making our present more secure. By using machine learning to govern the chain, thereβs also an opportunity to significantly enhance security. Further, as machine learning loves to work with a lot of data, it creates an opportunity to build better models by taking advantage of the decentralized nature of blockchains (that encourage data sharing).
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 βhash,β which connects the previous blocks with succeeding ones. Overall, this is called a βblockchainβ 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.
Chantique Putri Alessandra Talakua, Muhammad Azhari
Cardano becomes the first cryptocurrency designed and built on scientific philosophy and academic research reviewed by peers. Market participants can assess the potential of Cardano to use it for cryptocurrency investment alternative which can be done through comparing Cardano with traditional financial asset particularly stock and gold. Purpose of the research is to know the difference between Cardano performance to stock and gold. This research used quantitative methods with a comparative and descriptive approach. Performance of each asset measured by Sharpe, Treynor and Jensen indexes from October 2017 to April 2019. Result of the research is Cardano shows good performance in comparison to other assets. It concluded that Cardano shows a significant difference in performance with LQ45 index using Sharpe, Treynor and Jensen indices. While Cardano in comparison to ANTAM gold shows that there is a significant difference in performance using the Sharpe index but no significant difference using Treynor and Jensen indeces. Keywords: cryptocurrency; Cardano; portfolio performance; Sharpe index; Treynor index; Jensen Index DOI: 10.7176/RJFA/11-16-10 Publication date: August 31 st 2020
Evidence-based applications of resources remain one of the greatest challenges faced by governments, businesses, and policymakers. The United States Government Accountability Office (GAO) evaluated ten large programs, which together cost more than $10 billion/year, through randomised control trials β the highest standard of evidence-based practice (EBP). The evaluation found that nine of them had βweak or no positive effectsβ on their participants. Many programs were not evaluated at all. In January 2019, U.S. President signed the βFoundations for Evidence-based Policy Making Actβ into law. A USAID (US Agency for International Development) study looked at 43 blockchain projects and companies claiming to have solved various problems using distributed ledgers. The study found that almost no company was willing to share their results and MERL (monitoring, evaluation, research and learning) processes. Other observational data revealed that 80β90% of blockchain-based token offering projects failed to deliver on their promises, a prediction also made by Vitalik Buterin, the founder of Ethereum blockchain, in 2017. The concept of evidence-based blockchain (EBB) was first introduced by Naqvi in 2018. We conducted an evaluation of 517 blockchain firms against PCIO framework of evidence-based practice: Problem β Comparison β Intervention and Outcomes. We define the fundamentals of EBB (Ask, Acquire, Appraise, Apply, Assess), provide a review of the literature on EBB, report findings of our study and propose an Assessment Framework of Evidence Based Blockchain.
Blockchain and artificial intelligence are the most important keywords in the Fourth Industrial Revolution. This study sought to apply these core technologies to future validated algorithms that make real estate transactions secure to come up with an encryption algorithm. In addition, the real estate transaction is being paid a large fee by the middlemen, the real estate agent. Furthermore and recently, P2P (peer-to-peer) real estate exchange is used a lot. However, these P2P real estate exchanges also have problems that have not been identified by each other between landlords and tenants. In particular, a research model was established to compare and verify the PBFT (practical Byzantine fault tolerance) algorithm of Hyperledger through the blockchain agreement process. Subsequently, a process for verifying the real estate contract was established. Through VM (virtual machine) research methodology for the verification of blockchain real estate contracts, ElGamal communication was provided to prove quantum cryptography. We also automated lightweight encryption test verification tools and blockchain smart contract VM (virtual machine) models using artificial intelligence. Verification was performed through a reservation server and a monitoring server using a test verification tool for network-based lightweight security IoT (Internet of things) GW (gateway). It presents important ECP (elastic curve program) and elastic curve Qu-Vanstone (ECQV) models among the main functions of the blockchain smart contract, and it is equipped with quantum-based encryption algorithm. In addition, the necessary UML (unified modeling language) source code and performance data were calculated according to the actual experimental environment, and the average value for blockchain for administrative or government authorized assetsβ4000 TPS (transaction per second) were tested. In the future, we want to use this technology for real estate transactions.
Blockchain technology is emerging strong in many areas and is playing a major role in financial transactions, mainly in the banking domain. The study was conducted using primary data by considering the convenient sampling method. The study examined the perceptions on the usage of blockchain technology's implementation with the help of statistical method of discriminant analysis and the results revealed that the perception was higher in case of the attributes such as mitigation of transaction costs and highly secured. The SEM model indicated that smart contracts had a higher impact on the efficiency of financial transactions followed by digital currency. This paper will be useful to the various financial institution regulators, stakeholders, and academicians.
Blockchain is a developing innovation that can possibly reform the worldwide business and make a confided in relationship in a multi-party business organize. Square chain is one of the steadiest open records that jelly exchange data, and is hard to produce. Since, the data put away in square chain is not identified with by and by recognizable data, it has the attributes of namelessness. There are various reasonable use situations where blockchain has been applied. All through the instructive course, students get different sort of execution certificates, score transcripts, marksheets and so on which can turn into a critical ascribe for having admissions to new schools or new works. Because of hostile to manufacture mechanism, its simple to make fraud documents. So, as to take care of the issue of falsifying testaments, the advanced authentication framework dependent on blockchain innovation would be proposed. By the unmodifiable property of blockchain, the computerized authentication with hostile to fake and unquestionable status could be made. Through the unmodifiable properties of the blockchain, the framework not just improves the believability of different paper-based endorsements, yet additionally electronically decreases the misfortune dangers of different sorts of authentications.
Currently, with the increasing scale of the enterprise, a common tendency is that more convenient and intelligent management system is demanded for high security and maximum transparency. One feasible option is via blockchain, which acts as a transparent ledger. This paper is based on a successful project, which primarily aims at the development of smart contracts used for car insurance application. According to this result, the potential benefit of utilizing blockchain in commercial area can be demonstrated, meanwhile, a possible scheme in enterprise management could be inspired. This management model would replace manual operation, for instance, salary distribution, with smart contracts, which could satisfy both security and intelligence demand. This paper will briefly descript the blockchain project mentioned above and raise original method and conception concerning with blockchain based on existed management issues, as well as advantages and disadvantages.
Blockchain is one of the most significant emerging technologies today.Anecdotal evidence suggested that blockchain technology will transform auditing by enabling continuous auditing.However, there is little empirical knowledge of the blockchain implications on the audit profession.The objective of this paper is to explore, through the lens of transaction costs theory, the impact of blockchain technology on the continuous auditing.A proposed research model will be tested using survey data that will be collected from audit firms.The collected data will be processed using R statistical software that is appropriate to data analytics.The expected results should indicate that auditors still need to use professional judgment and gather evidence for assertions factors that blockchain technology does not address.Furthermore, regardless of the role they might choose to fulfill, auditors must keep up to date with the technology if they are to stay in-demand in the world of blockchain.
Jan 1, 2020Β·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Given the increasing interest in blockchain technology, we present a large-scale cross-disciplinary literature analysis of research on the blockchain using topic modelling with the goal of identifying the major research trends, research methodologies, and fruitful areas for further research. In particular, the analysis focuses on abstracting out research trends from relevant terms and topics related to the research disciplines of Business, Computer Science, Economics, Social Sciences, Engineering, Healthcare, and Law. A total of 2,125 articles published between 2008 to up until early 2019 in academic journals and conferences were analyzed. Results of our analysis reveal that research is bipartite between practical and research domains, with academic research on blockchain not clearly aligning with organizational and social benefits. Also, we found β 1) few inter-disciplinary publications, and 2) a small number of studies that use surveys, experiments, and case studies as their research method. Our findings also reveal that research on Blockchain in the social sciences and law is still in the embryonic stage, thus making it essential to develop more direct research efforts for Blockchain to thrive in all research disciplines.
Lukas Christopher Eikeri, Sebastian Andresen Amundsen
Utilizing the generalized spillover index developed by Diebold and Yilmaz (2009,\n2012), we investigate the volatility connectedness between an index consisting of\nnine selected cryptocurrencies, S&P 500, Gold, and Copper. Furthermore, we\nstudy the connectedness and volatility spillover within the nine cryptocurrencies\nin the perspective of the categorization of the cryptocurrency market developed by\nCorbet et al. (2020b). To our knowledge, this is the first study investigating the\nconnectedness between these categories. Lastly, we analyze the initial effect of the\nCOVID-19 pandemic by using an extended set of data to June 2020 on the\nconnectedness within the cryptocurrency market. We also test the connectedness\nbetween the cryptocurrency market, S&P 500, and Gold during the same period.\nWe find that the cryptocurrency market has a weak connectedness with other\nfinancial markets, indicating that most of the volatility comes from within the\ncryptocurrency market. When studying the volatility spillover within the\ncryptocurrency market, in the perspective of categorizations, our results show that\nmost of the volatility is within the respective categories. Adding to this, there are\nsome key differences in the relationship of the categories. Finally, the COVID-19\npandemic increased the volatility and the spillovers across all markets. However,\nthe effects do not affect the results for the cryptocurrencies substantially.
The three cutting-edge technologies virtual reality, blockchain, and 5G have increasingly attracted public attention. While virtual reality became a popular concept in the 1990s, recent technological advances and decreased costs have created a resurgence in the technology. With significant funding and early adoption, blockchain and 5G have begun to make their mark on the world. Each technology alone may disrupt business and society, but, together, they provide multiple opportunities. In this paper, we summarize a 2018 Association for Information Systems Americas Conference on Information Systems (AMCIS) panel session with IS researchers and industry practitioners that tackled important topics related to these technologies. In particular, the panel made the case for IS research that focuses on topics that emerge when these technologies intersect. Each panelist presented their perspectives based on their experience and knowledge along with current issues and future directions. This topic has significant business implications as practitioners continue to note their advancements and develop strategies to adapt in a rapidly changing environment. The topic also has implications for future research as these technologies continue to become more prevalent.