Blockchain Papers

Gurucharan Singh Bagga

No abstract is available for this record.

Mykola Pasichnyi

The aim of the article is to determine the nature of and justify the priorities for improving the efficiency of budget expenditures in the context of institutional changes in the government finance system. It is proposed to consider the category of cost-effectiveness in the context of fulfilling the objectives of fiscal policy, in particular, those concerning ensuring macroeconomic stability and creating incentives for economic growth, and of results achieved in improving the welfare of the population. An analysis of the trends in changes of the share of expenditures of the consolidated budget of Ukraine as a percentage of GDP for the period from 1992 to 2017 is carried out. The average forecast of this indicator for 2017–2021 is presented. It is identified that in the period of economic growth, the domestic budget policy was pro-cyclical in nature. The increase in expenditure weights was carried out without systemic institutional changes in government finance, which affected the decrease in cost-effectiveness and unbalanced the budget system in the following budget periods. The importance of fiscal decentralization in ensuring the growth of the overall level of budgetary performance is substantiated. The directions for improving the efficiency of budget expenditures on education and science, health care, social protection, and social security are proposed. The necessary changes in the functioning of the higher education system are modernizing the financial basis to conduct scientific research and implement their results in the educational process; focusing on the applied aspects of studying a specialty; developing mechanisms to assess the quality of higher education; providing financial independence to educational institutions. Important aspects of the public policy are the further introduction of the insurance and fee-for-service medicine on the basis of co-financing; compiling of the basic list and standards of relevant medical services guaranteed by the state, financed by the budget. In the field of social protection, it is advisable to develop tools to ensure the targeting of the benefits provided and streamline the categories of recipients.

Wei‐Tek Tsai, Zihao Zhao, Chi Zhang, Lian Yu · 5 authors

Recently digital currency has received significant attention, and among many topics within digital currency, CBDC (Central Bank issued Digital Currency) has been a hot topic as it will affect national currency systems. RSCoin is the first CBDC model sponsored by Bank of England, and it uses the UTXO model from Bitcoin. This paper proposes a new CBDC model Panda model that can store account balance like current banking systems, but use efficient consensus protocols to ensure that relevant parties have consistent views of transactions and accounts. The Panda model is scalable as it can include as many financial institutions or individuals as possible in the system with increasing or decreasing workloads. The model has been simulated in the TaiShan Sandbox in Qingdao.

Hasan Sobhani, aliasghar ghaeminia

Money is one of the powerful institutions that humankind created and developed and nowadays it affects all of aspects of social human life. Money essentially is production of human socialization and we should think of it as a social reality that although has a special and independent role for each individual, but it has overall acceptance in the society. Bitcoin is a decentralized electronic fiat currency implemented using cryptography and peer-to-peer technology. Because of increasing development of bitcoin and also other similar currencies, our monetary policy-makers should take proper position about it. In this study we make an analysis about value of bitcoin in context of Etebariat theory developed by Allameh Tabataba’i and argue that value of bitcoin is consistent with this context. Our study about monetary and banking schools like metalism, chartalism, money in circle and banking shows that because of peer-to-peer system of Bitcoin, although Bitcoin is inconsistent with all of the abovementioned theories, but it is consist with Etebariat theory because of no need to third party. So Bitcoin is a counter-example to classical theory of money and it verify Etebariat theory.

John Weru

John Weru is a Kenya-born writer, blogger and co-founder of PayHub East Africa. In a conversation with ICT Update, John talked about the rise of cryptocurrency, the potential of the blockchain to improve efficiency in the agricultural value chain in Africa, and theurgent need to educate people about the technology itself and the economy that it is creating.

Yiwen Du, Jianwei Liu, Zhenyu Guan, Hanwen Feng

Usually, medical information including physical examination results and treatment of patients is stored in the hospital's centralized database. Although sophisticated access control strategy is adopted, it is still high-risk to expose patients' privacy in complex network environment. Moreover, a practical service platform is missed to share this kind of information under patients' authentication. To solve these problem, we elaborate an efficient and secure medical information service platform based on distributed cloud and blockchain technology, simultaneously guarantee security and confidentiality by hierarchical identity-based broadcast encryption system. Within our proposed framework, medical data are stored on distributed cloud after encryption. An incentive mechanism is designed to encourage customers and miners to maintain the platform. It shows that our platform is safe and effective in practice.

Rohmat Taufiq, Meyliana Meyliana, Achmad Nizar Hidayanto, Harjanto Prabowo

The purpose of this study is to find the influence factors of blockchain technology adoption of payments system in Indonesia banking industry. Moreover, the researchers proposed new model of payment system by using blockchain technology in Indonesia banking industry. All this time, the researchers of blockchain in payment systems were done in major countries such as UK, USA, Australia, Scotland, Germany, Japan, France, Italy, and China. Systematic Literature Review (SLR) used as a method in this study and there were five databases that taken as references, such as IEEE, Science direct, AIS electronic, ACM and Google Scholar. The researchers were found 26 references Studies Included in Quantitative Synthesis and 9 variables (Easy to use, Usefulness, Transaction fees, Risk perception, Behaviour intention of use, Attitude toward, Cognitive style, Subjective Norm, Effectiveness). Based on the result of data analysis and discussion, there were two conclusions in this study, the first, the researchers found nine factors that expected tobe used as a reference if Indonesia banking industry wants to adopt blockchain technology for payment system; and second, the researchers had to propose payment system model by using blockchain technology in Indonesia banking industry.

André Souto

Security of data is crucial in nowadays societies. One of the most basic security protocols are the zero-knowledge protocols where a prover convinces a verifier of the knowledge of a secret information without revealing that piece of information. The tradicional approach to prove the security of these protocols is based on the (im)possibility of simulation of the interactions. A more fundamental way to prove the security is based solely on the information conveyed about proof. In order to establish that connection and quantifying the number of possible transformations that one can use in these protocols, we use Kolmogorov complexity and in particular we focus on the incompressibility theorem. In this paper we study the counterpart of this theorem by, instead of providing the number of x such that for a fixed y, Kt(x|y) ≈ Kt(x), we study for a fixed y the number of x such that Kt(x|y) ≈ Kt(x). As a second contribution of this paper we present an extension of the results regarding Kolmogorov one-way functions started in [3]. This cryptographic primitives have the property to be easy to compute but hard to invert and are a basilar ingredient for digital security.

Hadeel Mohammed Taher, Ahmad Subhi

Bitcoin it is digital currency used for any Electronic Financial Transactions, created in 2008 by Satoshi Nakamoto as Peer-to-Peer Electronic System cash. The precise prediction of bitcoin exchange rate with respect to the US dollar is an essential matter because it effected on the world economic constancy. Meanwhile the technology that used in Bitcoin has flickered a revolution in world. This paper aim to a survy on the use artificial neural networks to predict the exchange rate of a Bitcoin(BTC ) currency. https://doi.org/10.24897/acn.64.68.172

Kavita Saini

The increase use of the Internet and digital currency by layman around has given direction to many researchers to evaluate its effectiveness and applications. The blockchain's effectiveness includes the increased security, transparency, cost reduction, of various transactions taking place in real life.The paper discuss about the emerging technology blockchain. Blockchain a cryptographically secure digital currency and can perhaps transform how the world works. The paper discuss about the challenges and how digital transformation is taking place. Paper also discuss about the future scope of Blockchain.

Charles Hoffreumon, Nicolas van Zeebroeck

In the present article, we analyze the transaction fees market on smart contracts-enabling blockchains. On such systems, as opposed to traditional on-premise and cloud computing solutions, users are effectively competing for computational resources through an auction for priority. This paper proposes a way to estimate the bid one has to offer to have a transaction included in the next block. This method outperforms naive bidding (bidding the optimal value of the last block) if the user is realistically "impatient" to have a transaction processed. It also shows that users collectively spend several million of dollar every years for transaction fees that could be avoided without degrading the service received. This is this "waste" we seek to reduce throughour forecasting method.

Oleksandr Snihovyi, Oleksii Ivanov, Vitaliy Kobets

This paper is a sequel to our previous works related to Robo-advisors and cryptocurrencies. Our goal now is to build two application modules for a single Robo-advisor. The first module is a Long short-term memory (LSTM) neural network which forecasts cryptocurrencies prices daily. The second module uses Robo-advising approach to build an investment plan for novice cryptocurrencies investors with different risk attitude investment decisions. The third module does ETL (Extract-Transform-Load) for a statistics dataset and neural networks models. Results of the investigation show that investing in cryptocurrencies can give 23.7% per year for risk-averse, 31.8% per year for risk-seeking investors and 16.5% annually for riskneutral investors.

Hyong S. Kim, Ke Wang

The main advantage of Blockchain technology is the immutability of data maintained by decentralized systems. Earlier studies introduce the probability of attackers succeeding in modifying legitimate data in the blocks. We propose “immutability measure”, a metric that indicates the degree of difficulty in modifying existing data in Blockchain. We propose different blockchain structures that can be more appropriate for different applications. There are several parameters that determine the difficulty of modifying data in Blockchain. We analyze the impact of each of these parameters on the immutability measure of various blockchain structures. We also study the required computational and electrical power as well as the time for a successful attack in various blockchain structures. We demonstrate that our proposed blockchain structures can exponentially improve the immutability measure with a nominal increase in computing resources.

Alessio Meloni, Syam Madanapalli, Sanil Kumar Divakaran, Steven F. Browdy · 8 authors

While initially conceived as a system for cryptocurrency transactions' validation among untrusted parties, blockchain technology has gained momentum as a tool that can theoretically be applied to many domains beyond the intended one. Among these domains, one of the biggest and most promising is the Internet of Things. The IEEE 1931.1 WG is currently working on the definition of an Internet standard for technical and functional interoperability of federated IoT systems for Real-Time Onsite Operations Facilitation (ROOF) that operate and function in a secure, semi-autonomous, and decentralized manner. Blockchain technology can play a key role in accomplishing this goal. In this article, after discussing the use of blockchain technology in the IoT, the architectural framework as well as the use of blockchain technology in the IEEE 1931.1 standard are discussed in terms of advantages brought, criticalities, and future improvements that are necessary for fruitful deployment within ROOF.

Rohit Sharma, Suchetana Chakraborty

Smart interconnected vehicles generate a huge amount of data to be used by a wide range of applications. Although cloud based data management is currently in practice, for many applications serving road safety or traffic regulation, it is utmost important that applications access these data at the site itself for improved quality of service. Road side units (RSUs) play a crucial role in handling these vast amount of vehicular data and serving the running applications in turn. In this current era of edge computing, in-place data access is also proven to be advantageous from cost point of view. As multiple applications from different service providers are interested to access different fragments of these data, a robust access control mechanism is needed to ensure desired level of security as well as reliability for these data. In this paper, we introduce B2VDM, a novel architecture for vehicular data management at RSUs, that provides a seamless access control using Blockchain technology. The proposed B2VDM framework also implements a simple load distribution module, which maintains the reliability by minimizing the number of packet drops at a heavily loaded RSU during peak hours. An extensive evaluation using Etherium Blockchain validates the effectiveness of the proposed architecture.

Vasyl Lytvyn, Volodymyr Kuchkovskiy, Victoria Vysotska, Oksana Markiv · 5 authors

System of integration and content formation taking into account the cryptocurrency consumer needs imports courses from cryptocurrency trading exchanges and exchangers. The method is based on the algorithms of forecasting and constructing of the corresponding graphs. It should also support the aggregation of information from social media such as Twitter. Import of news related to cryptocurrency. System based on this method should be optimized for search in search engines and services and distributed by servers. Such a system will serve to inform about currency rate fluctuations depending on the news background.

Akash Sarda, Vijesh Ghandare, Aditya Malu, Jibi Abraham

In the last decade, there has been an exponential growth in the number of cryptocurrencies and the technology that underpins all the cryptocurrencies is the Blockchain. The blockchain serves as a decentralized, cryptographically signed ledger that enables payments in a trustless manner. While there are limitless applications of the blockchain, the problem that persists is the limited scaling of the blockchain. The bitcoin blockchain and the ethereum blockchain, are able to process only 7 transactions per second and 15 transactions per second respectively. All the participating mining nodes in the blockchain network perform heavy computation and compete to mine a block, but only one of them succeeds and others waste their computation. In this paper, we propose a new node count based transaction propagation protocol for less competitive mining called as NoCo. NoCo distributes a transaction from a node to the nearby miners based on the node count between them and thereby decreasing the competition, and hence this is beneficial for the miners as well as for the networks scalability. The protocol tries to parallelize the mining in the network. The protocol scales the transaction rates almost linearly.

Angelo Capossele, Andrea Gaglione, Michele Nati, Mauro Conti · 6 authors

Smart health (s-health) is an emerging paradigm that brings together a whole new range of digital data, both personal and non-personal, in order to deliver a holistic approach to health that overcomes the boundaries of the traditional patient caring system. By including non-personal smart city data, mobile s-health applications can improve prediction, prevention, and prescriptive care, while generating feedback that make cities smarter when accounting for and adapting to individual needs. As a result, the constantly ongoing societal challenge of improving individual life will receive additional support. As an example of such life improvement, cities might reduce pollution by promoting mobile applications that incentivize people lacking of adequate physical activity to use alternative transport means. Despite of the envisioned benefits, the diverse nature and jurisdiction of infrastructures and data required to develop s-health applications open up a number of challenges that need to be addressed. In this position paper, we first present a sustainable model for fostering the creation of s-health applications, then identify and discuss the existing challenges, and finally explore the role of blockchain in overcoming some of them.

Karan Singh, Nikita Singh, Dharmender Singh Kushwaha

Governments and financial Institutions worldwide are in deep need to reduce the payment, clearing and settlement cycles of various transactions thereby eliminating operational and financial inefficiencies and mitigating risks. Various consortia have been formed in order to lay the foundation stones, standards to create industry acceptable solutions. Seamless transactions and information sharing between different banks and financial institutions is still a distant dream. This paper presents a novel architecture to seamlessly integrate e-wallets of different banks and participating institutions using blockchains that shall act as a foundation of Digital ledger technology (DLT) for financial sector in India. A swarm based peer-to-peer network is designed for the proposed e-wallet system. The proposed solution shall minimize the load on the Core Banking Solution of the banks thus reducing the load on the servers at the data centers.

A. Priya, Shruti Garg

Analysis of any currency is done to identifying and quantifying uncertainties, estimating their impact on results. Cryptocurrency, as an encrypted peer-to-peer organize for encouraging digital bargain is created in 2008. i.e., Bitcoin is the most prominent example. It characterizes their exchange rates versus U.S Dollar by fitting parametric dispersions to them. Then analyze the Blockchain (BC), the introduced technology behind the Bitcoin cryptocurrency system, considered both alluring and critical for ensuring enhanced security and privacy for diverse applications in many domains. Another new investment opportunity, new cryptocurrencies known as altcoins. This altcoinuses similar cryptography technology but employs different algorithmic design. Cryptocurrencies may revolutionize digital trade markets by making a free streaming exchange framework without fees. Bitcoin has presenteda SWOT (Strength, Weakness, Opportunity, and Threat) analysis, which lights up a few of the later occasions and developments, that may influence whether Bitcoin contributes to a move in the financial ideal model.

Ometita Radu Adrian

Software engineering principles have enabled us to continually increase the complexity of the problems that we can solve using software by promoting the sensible use of abstraction, separation, composition and generalisation. Writing software for a public blockchain makes the code we write publicly available for inspection, and potential exploits may result in the loss of funds that the program manages. This unprecedented level of exposure and ease of exploitation requires new methods to improve our confidence in the correctness of the code that we write. This paper explores the main current techniques used to achieve this increased level of confidence, especially in the area of programming language design, starting from the first Turing Complete blockchain implementation Ethereum, and ending with some of the more principled approaches, Scilla and Rholang.

Jeong Wook Kim, Chul-Yong Choi

No abstract is available for this record.

Alessandro Gattolin, Cristina Rottondi, Giacomo Verticale

BlAsT is an efficient scheme for achieving certification of data continuity through a history attached to a public blockchain. The scheme guarantees the properties of linearity, non-equivocation, time-stamping and transparency. We discuss the implementation of BlAsT over the Bitcoin and the Ethereum blokchains, provide a techno-economic analysis to evaluate the costs related to blockchain adoption, and numerically assess the performance of the proposed architecture in terms of storage and bandwidth requirements. Results show that the above properties can be guaranteed with a small cryptocurrency payment. The proposed scheme can be used for IoT devices under the assumption that the device is able to either perform blockchain validation or delegate it to a trusted node.

Rourab Paul, Paresh Baidya, Suman Sau, Krishanu Maity · 6 authors

Standard security protocols are heavy weight interms of memory foot prints which make all the security protocol unfit for budgeted platforms such as Internet of Things (IoT). The blockchain (BC) is a very efficient architecture to preserve five basic cryptographic primitives, such as authenticity, integrity, confidentiality, availability and non-repudiation. Conventional adoption of blockchain in IoT causes significant energy consumption, delay, and computational overhead which are not suitable for various resource-constrained IoT devices. In our submission we change the basic architecture of blockchain and make it more efficient for IoT application. The article proposes an IoT based smart city architecture which adopted the blockchain technology preserving all the cryptographic security issues. The adoption of blockchain causes very minimal overhead on IoT platform. Comparison of all security parameters with existing literature shows that the architecture is reasonably efficient in terms of security