Blockchain Papers

Lutz Anderie

No abstract is available for this record.

Darcy W E Allen, Chris Berg

Understanding the complexities of blockchain governance is urgent. The aim of this paper is to draw on other theories of governance to provide insight into the design of blockchain governance mechanisms. We define blockchain governance as the processes by which stakeholders (those who are affected by and can affect the network) exercise bargaining power over the network. Major considerations include the definition of stakeholders, how the consensus mechanism distributes endogenous bargaining power between those stakeholders, the interaction of exogenous governance mechanisms and institutional frameworks, and the needs for bootstrapping networks. We propose that on-chain governance models can only be partial because of the existence of implicit contracts that embed expectations of return among diverse stakeholders.

Amany Alshawi

The worldwide growth in electronic commerce has led to the emergence of digital currencies, which have been gaining public and research attention as an alternative method of payment. In recent years, Bitcoin has become a global currency with a multibillion USD market value. This is a result of the many attractive features of the currency including its distributed algorithms, cryptography, and incentive-driven performance. This chapter offers an in-depth investigation of the Bitcoin network along with its security and financial implications. All the components of the network are described along with details of the cryptographic foundations of the system. The chapter also describes the security and privacy implications of Bitcoin and proposes methods to minimize their effect. Finally, the chapter discusses the regulatory and financial implications of the Bitcoin network to show how countries around the world are reacting to the widespread use of cryptocurrencies.

Tassos Dimitriou

No abstract is available for this record.

FIP CIPP E Ademola Adeyoju

No abstract is available for this record.

Jason Xiong, Yong Tang

Information and communication technologies (ICTs) have been proven to promote the development of countries and regions. Asia is one of the leading regions in adopting new ICTs like mobile payment, artificial intelligence, and blockchain. The innovative technologies, relevant business values, and impacts related to blockchain are overestimated in the short term yet underestimated for a long time. While the blockchain is in the hype of both research and practice, there is minimal research related to the blockchain adoption. Among many blockchain-based applications, cryptocurrency been widely utilized in Asia. This Emergent Research Forum (ERF) Paper provides preliminary research in understanding how blockchain-based cryptocurrency revolutionizes ICT for development in Asia. This research introduces a model that considers Cryptocurrency/Bitcoin Innovation Factors (BIF), including cryptocurrency advantage, cryptocurrency complexity, and cryptocurrency compatibility as moderators. The survey method is selected and will be conducted in the future.

Dimitrios Linardatos

No abstract is available for this record.

Stijn Van Hijfte

As blockchain entered the world with new possibilities concerning data and financial instruments, it has taken decision makers a lot of time to consider the technology and introduce regulation that is both relevant and necessary to protect people from this technology. This chapter includes a short introduction to the major concepts that are currently being debated when it comes to the distributed ledger technology.

Ashish Sharma, Yogesh Sharma, Radhika Bansal, Sushant Kumar Verma

The paper aims at creating ERC-20 Token and crowd sale step-by-step with Ethereum smart contracts. In the process, it focuses on testing the smart contracts, deploying the smart contracts to the Ethereum blockchain, and building an ICO website deployed to the web for the buying and selling of the tokens. The Ethereum blockchain provides a platform for creating our cryptocurrency, or tokens that can be purchased via Ether which is the native cryptocurrency of the Ethereum blockchain. ERC-20 is a standard document that specifies the behavior of the tokens so that they are compatible with other platforms like cryptocurrency exchanges. We used Ethereum which is a blockchain like Bitcoin. We created a token called ;Token ; and there are 100,000,000 such tokens. Firstly, the token smart contract keeps track of some token attributes which are basic. It also keeps track of who owns ;My Token ; and how much. ERC-20 tokens can be used as a payment just, just like any other cryptocurrency, from one account to another. They can also be purchased in a crowd sale, like an ICO.

Ashutosh Ranade, Zaheed Shaikh

No abstract is available for this record.

Pablo Lamela Seijas, Alexander Nemish, David Smith, Simon Thompson

Marlowe is a DSL for financial contracts. We describe the implementation of Marlowe on the Cardano blockchain, and the Marlowe Playground web-based development and simulation environment. Contracts in Marlowe can be exhaustively analysed prior to running them, thus providing strong guarantees to participants in the contract. The Marlowe system itself has been formally verified using the Isabelle theorem prover, establishing such properties as the conservation of money.

Olusegun Oluwajebe, Mary Duah, Polina Golnikova

No abstract is available for this record.

Ligia Catherine Arias‐Barrera

No abstract is available for this record.

Joseph Lee, Vere Marie Khan

This paper discusses the implications of smart contracts in energy trading for the protection of consumer and individual rights. It examines the legal risks and regulatory solutions for a peer-to-peer energy trading platform (P2P-ETP) in creating a sustainable energy ecosystem. Part I discusses the conceptual framework of P2PETP, which enables consumers to become energy ‘producers' and traders. Smart technologies—smart contracts, smart meters, and distributed ledger technology (DLT) platforms, are the main components of this platform. The study examines the legal basis for these components. Part II analyzes the legal uncertainty of the smart contract, such as its enforceability, and the inadequate protection for consumers and their individual rights through price manipulation, violation of rights to privacy, and data breaches. Part III discusses the potential policy implementations and the principles behind a legal and regulatory framework for establishing a trusted peer-to peer energy trading platform.

Naipeng Dong, Guangdong Bai, Lung-Chen Huang, Edmund Kok Heng Lim · 5 authors

Abstract Blockchain technology has rapidly emerged as a decentralized trusted network to replace the traditional centralized intermediator. Especially, the smart contracts that are based on blockchain allow users to define the agreed behaviour among them, the execution of which will be enforced by the smart contracts. Based on this, we propose a decentralized booking system that uses the blockchain as the intermediator between hoteliers and travellers. The system enjoys the trustworthiness of blockchain, improves efficiency and reduces the cost of the traditional booking agencies. The design of the system has been formally modelled using the CSP# language and verified using the model checker Process Analysis Toolkit. We have implemented a prototype decentralized booking system based on the Ethereum ecosystem.

Andrea Ponza, Simone Scannapieco, Anna De Simone, Claudio Tomazzoli

No abstract is available for this record.

Zaina Kawasmi, E. A. Gyasi, Deneise Dadd

Blockchain has become the new hype term in the business world for the last decade. Due to the new technology’s characteristics and innovative applications, it is being adopted globally in a wide number of industries including the banking industry, yet no adoption model is provided to guide this process. This research aims to contribute to facilitating the successful adoption and implementation of the blockchain new technology in the banking industry. Building on the assumption that the blockchain’s adoption in banking will be directed by the regulations and best practices guidelines of the global banking regulatory bodies and practitioner, this research asks: What is the blockchain adoption model for the banking industry? The currently available official documents of the regulatory bodies, practitioners, and research bodies were collected, text mined and analysed, based on the adoption factors identified in the literature review and investigating the adoption factors’ importance. This research was able to find three categories of adoption factors: supporting, hindering and circumstantial, identify a new adoption factor and establish the factors’ importance. As a result, an adoption model for blockchain technology in the banking industry from an institutional perspective is proposed. Based on this, it is recommended to carry further research on applying the proposed model at banks adopting the new technology to study its fitness.

Hasdi Aimon, Hari Setia Putra, Farid Husein

No abstract is available for this record.

Joongi Hong, Suntae Kim, Duksan Ryu

No abstract is available for this record.

Natasha Blycha, Ariane Garside

No abstract is available for this record.

Authors unavailable

No abstract is available for this record.

Daniel Tischer

Abstract This essay explores the organisational character of Facebook's Libra currency by undertaking a critical reading of documents published by the Libra Association. Drawing on the conceptual work of Marilyn Strathern and Michel Serres, it illustrates how ownership cuts the network and encourages parasitism as a means of driving future profit. Central to this is the claim that Libra is not an exercise in democratising money, but rather, the opposite: Libra is run as a club, for the benefit of club members. The conceptual theme of ‘cutting’ is used to organise the argument. Rather than a cutting-edge technology, Libra's true innovation is organisational and consists in overturning the decentralised character of blockchain, such that distributed ledger technology is re-centralised by big tech firms. Outsiders are thus cut-off from Libra; only those inside the club have the right to participate in Libra and its governance. This position also affords members an exclusive capacity to take a cut of the profits generated through Libra. As a private organisation, members have sole rights to future profits generated from the Libra ecosystem and are in this way incentivised to create new product opportunities over time.

Akkarit Sangpetch, Orathai Sangpetch

In traditional virtual asset trading market, several risks, e.g. scams, cheating users, and market reach, have been pushed to users (sellers/buyers). Users need to decide who to trust; otherwise, no business. This fact impedes the growth of virtual asset trading market. In the past few years, several virtual asset marketplaces have embraced blockchain and smart contract technology to alleviate such risks, while trying to address privacy and scalability issues. To attain both speed and non-repudiation property for all transactions, existing blockchain-based exchange systems still cannot fully accomplish. In real-life trading, users use traditional contract to provide non-repudiation to achieve accountability in all committed transactions, so-called thorough non-repudiation. This is essential when dispute happens. To achieve similar thorough non-repudiation as well as privacy and scalability, we propose PEX, Privacy-preserved, multi-tier EXchange framework for cross platform virtual assets trading. PEX creates a smart contract for each virtual asset trading request. The key to address the challenges is to devise two-level distributed ledgers with two different types of quorums where one is for public knowledge in a global ledger and the other is for confidential information in a private ledger. A private quorum is formed to process individual smart contract and record the transactions in a private distributed ledger in order to maintain privacy. Smart contract execution checkpoints will be continuously written in a global ledger to strengthen thorough non-repudiation. PEX smart contract can be executed in parallel to promote scalability. PEX is also equipped with our reputation-based network to track contribution and discourage malicious behavior nodes or users, building healthy virtual asset ecosystem.

Georgiana-Loredana Schipor

The present paper analyzes the potential of crowdfunding as an alternative source for financing the economy, but also the limitations of the process and the current gaps. Structured as a practical guide in the field, the study offers examples of crowdfunding platforms, systemizing the theoretical background of the concept in accordance with the Romanian context. Community financing is still poor understood by the Romanian public, the analysis focusing on a consistent literature review that reach the mechanism and the main typology of the crowdfunding platforms, defining the concept and exploring its novelty. Legal regulations and technological development are also considered in the frame of the Industry 4.0, revealing the advantages of using the Fintech tools for both investors and entrepreneurs. Due to the distributed risks, the crowdfunding platforms make easier the investment effort, while still protecting the rights of the capital-seeking. The next step of this evolutionary process is the integration of the blockchain technology in the crowdfunding system, adding substantial features as: anonymity, decentralization and transparency.