Blockchain Papers

Manish Thakral, Sandeep Singh

No abstract is available for this record.

Mario Ivan Contreras Valdez, Daniel Cerecedo Hernández

No abstract is available for this record.

Seung Ah Lee, George Milunovich

No abstract is available for this record.

Assen Slim

Cet article propose une méthode dite « factuelle » (unités émises, gouvernance, fonctions, répartition, réglementation, sphère circulatoire, adoption par des États souverains, diffusion à de nouveaux usages), pour déterminer la nature du bitcoin. Il ressort que le bitcoin est un objet inclassable (un OI) qui ne rentre dans aucun cadre préétabli (monnaie, actif, or numérique, titre de propriété) et qu’il revêt un caractère évolutif lui ayant déjà fait traverser trois âges (naissance, croissance, âge adulte). Étant paramétrables à volonté, le bitcoin et ses dérivés peuvent être utilisés par les groupes humains pour le meilleur et pour le pire. L’article esquisse trois pistes d’utilisation des cryptomonnaies pour l’avenir (l’inclusion financière, la socialisation de la valeur, la sortie de la société ubérisée).

Johrha Alotibi, Badriah Almutanni, Tahani Alsubait, Hosam Alhakami · 5 authors

In recent years, money laundering activities have shown rapid progress and have indeed become the main concern for governments and financial institutions all over the world. As per recent statistics, $800 billion to $2 trillion is the estimated value of money laundered annually, in which $5 billion of the total is obtained from cryptocurrency money laundering. As per the financial action task force (FATF), the criminals may trade illegally obtained fiat money for the cryptocurrency. Accordingly, detecting and preventing illegal transactions becomes a serious threat to governments and it has been indeed challenging. To combat money laundering, especially in cryptocurrency, effective techniques for detecting suspicious transactions must be developed since the current preventive efforts are outdated. In fact, deep learning and machine learning techniques may provide novel methods to detect suspect currency movements. This study investigates the applicability of deep learning and machine learning techniques for anti-money laundering in cryptocurrency. The techniques employed in this study are Deep Neural Network (DNN), random forest (RF), K-Nearest Neighbors(KNN), and Naive Bayes (NB) with the bitcoin elliptic dataset. It was observed that the DNN and random forest classifier have achieved the highest accuracy rate with promising findings in decreasing the false positives as compared to the other classifiers. In particular, the random forest classifier outperforms DNN and achieves an F1-score of 0.99%.

Hanya Zhang

Bitcoin has had a volatile journey since it was launched in 2009, the current main impressions of Bitcoin are mostly negative, resource-consuming, endangering financial security, and even associated with crimes, such as fraud, money laundering, and so on. However, this paper analyzes the origin of bitcoin and with the creative combination of existing computer technology, the construction of a complete transaction system was founded by Bitcoin, which has caused a huge impact in the fields of finance, technology and the environment. We have to acknowledge its shortcomings and deficiencies in some aspects, On the other hand, realize that Bitcoin has brought great progress and reflection in the fields of finance, technology, environment, etc.

Paul Gilmour

No abstract is available for this record.

Colin Read

No abstract is available for this record.

Yaodan Zhang

With the outbreak of the Russian-Ukrainian war, more and more Western countries have imposed sanctions on the assets of the Russian people overseas, which have triggered a crisis of confidence in the world's currency, the dollar.At this time, the popularity of Bitcoin has also resurfaced.People are starting to think about the future of Bitcoin.This paper starts from the basic technical means of bitcoin and discusses the possibility of the future development of bitcoin by analyzing the characteristics of bitcoin.We believe that although Bitcoin cannot become a world currency in the future, it can become an investment asset and a convenient means of payment.

Giovanna Massarotto

No abstract is available for this record.

Haiou Jiang, Keming Zhang, Xinjian Ma, Yanchun Sun · 5 authors

No abstract is available for this record.

Sudeep Tanwar

No abstract is available for this record.

Michał Wnęk

Objectives: With each passing year, cryptocurrencies are becoming more popular and play an increasinglyimportant role in economic trading. This growing importance is related not only to the increased interest in thissubject, but also to the growing theoretical and practical problems. The author’s goal is to portray circumstances and implications of the adoption of cryptocurrency by the Republic of El Salvador – which recently included bitcoin as part of the state budget – as well as discuss possibility of similar precedent in Poland. Research Design & Methods: Cryptocurrencies are still a relatively new invention and, simultaneously, a complicated one. Therefore, reliable sources and references are still scarce, and those which exist are mostly in the Internet space. In the following article, I have used dogmatic-theoretical method of research in subsequent steps; I analyse proper subject literature, journalistic reports, as well as legal regulations. Findings: El Salvador has become the first country in history that had decided to equate the status of a cryptocurrency with its native currency. Recently, it was also followed by the Central African Republic. However, the Republic of El Salvador takes a step forward and includes bitcoin as part of the state budget, thus bindingthe country’s economic condition with the market pricing of cryptocurrency. A one-year’s investment has, sofar, gone negatively for the country, as Bitcoin price has declined sharply throughout the year. When comparingthe situation of El Salvador to the Polish reality, it should be stated that cryptocurrencies may, in the current legalstate, be part of the state budget. However, this applies only to single instances; therefore, such a negligible share can be omitted in further discussion. Certainly, adoption on El Salvador’s scale is not currently possible. Apart from obvious risks, it would require a thorough reform of not only the legal system, but, above all, the economic mentality of the society. Implications/Recommendations: Given the fact that Bitcoin is a cryptocurrency with neither issuer nor centralauthority, such step is to be considered a significant precedent in the history of world’s economy and for cryptocurrencies themselves. Due to the well-known price volatility of the market, the adoption seems to be highly risky, but, if successful, it may bring measurable benefits to country’s economy. However, the true question is – is it justified to base the state’s budget, which is economic foundation of society, on cryptocurrencies? Almost a year after the adoption, bitcoin price is significantly lower and, consequently, El Salvador’s loss is higher. Yet, bitcoin proved to recover many times – even after slumping over 90%. To conclude, it is advisable to observe El Salvador’s economic situation in order to be able to more precisely define the impact of such a decision in the future, both on the country and on the cryptocurrency market itself. Contribution/Value Added: The adoption of cryptocurrencies by El Salvador was broadly discussed not onlyin the cryptocurrency community, but also in the financial and economical ones. Journalists from around the world as well as international institutions such as the International Monetary Fund and the World Bank all became interested in the situation of El Salvador. In this article, I organise information, assessments, and opinions of the international community regarding the Salvadoran precedent. I also indicate whether and at what level cryptocurrencies can be part of the Polish budget under current legal regulations. The Salvadorian case, due to being a precedent, has already become a valuable lesson for the future legal proposals, research, and discussion. Yet, the development of such a situation may be surprising, which is why further observation is advisable. Article classification: theoretical (conceptual) article JEL classification: K23, E58, F53

Mélissa Fortin, Erica Pimentel

No abstract is available for this record.

Iqbal Azad

No abstract is available for this record.

Matheus Lolli Pazeto

No abstract is available for this record.

M. Schullitsch, M. Striedner, V. Mühlbacher, D. Silian · 11 authors

This paper gives a short overview of the financial world affected through COVID-19. To be more precise, it is about the changing (negative) interest rates of Europe, the US as well as India. At the same time, the paper discusses the Bitcoin exchange rate as well as the current situation regarding money laundering.

Kenneth See

Purpose The purpose of this paper is to examine the currently known techniques to tackle money laundering in Bitcoin mixers, and examine what gaps exist that would allow a criminal to get away with laundering Bitcoin obtained through illicit activities. Design/methodology/approach This paper first establishes the relevant properties of Bitcoin, how transactions occur over the Bitcoin network and then introduces the Bitcoin transaction graph as an important data structure for any analysis of Bitcoin transactions. Next, the paper outlines how Bitcoin mixing works, along with the relevant properties of mixers that would be relevant for money laundering. The paper then assesses the known methods for identifying mixed transactions within the Bitcoin network, followed by an assessment on identifying money laundering activities on known mixed transactions. Findings This paper argues that there remains a gap for criminals to launder money through Bitcoin mixing services as known methods would unlikely be able to trace a tainted transaction that goes through a decentralized mixer that uses off-chain communication techniques to coordinate the mixing and charges randomized mixing fees. Research limitations/implications The study of known methods is restricted to literature published in the public domain. There are private organizations that are tackling similar problems, but their methods are not published and therefore cannot be included in this paper. Originality/value To best of the author’s knowledge, this is the first paper that performs a contemporaneous review on anti-money laundering in the context of Bitcoin mixing. This paper could assist regulators and policymakers in their understanding of Bitcoin mixers and provide guidance on where they should focus their resources to address the money laundering problem of Bitcoin mixing.

Deven R. Desai, Mark A. Lemley

No abstract is available for this record.

Hilmar Páll Stefánsson, Huginn Sær Grímsson, Jón Kristinn Þórðarson, María Óskarsdóttir

Money laundering is a serious problem worldwide, especially in the crypto market. This is mostly because of the anonymity that many cryptocurrencies offer. That is one of the reasons why cryptocurrencies are a haven for money laundering, because it is easier for criminal entities to buy the currency and then trade it for real fiat money. Detecting money laundering in cryptocurrency can be tricky because the crypto network is large and convoluted and nearly impossible to analyze by hand. What we can do is look at addresses that took part in transactions as actors and then use machine learning to predict what addresses are possibly laundering money. In this paper we intend to analyze methods that can be used to detect money laundering in Bitcoin using machine learning to empower investigators to more accurately and efficiently determine whether a suspicious activity is money laundering.

Nora Chiriță, Ionuț Nica, Mihaela Cornelia Popescu

No abstract is available for this record.

Yue Xue, Jialu Fu, Shen Su, Md Zakirul Alam Bhuiyan · 8 authors

No abstract is available for this record.

Daniel Tut

No abstract is available for this record.

Dun Jia, Yifan Li

No abstract is available for this record.