Blockchain Papers

Jinqi Cai, Shuxian Li, Bing Fan, Tang Liangrui

No abstract is available for this record.

Santiago Pinto

It is well-known that competition for factors of production, including competition for residents, affects the public services provided in the communities. This paper considers the determination of local investment in urban transport systems. Many specialists question the effectiveness of the current U.S. top-to-bottom transportation institutional arrangement in which the federal government plays a dominant role and recommend a shift toward a decentralized organization. We examine how such a shift would affect the levels of transport investment. Specifically, we consider a model of two cities, and assume, as in Brueckner and Selod (2006), that transport systems are characterized by different time and money costs. We compare the outcomes reached when the transport system is decided by a central authority (a state or federal government) to the one decided by each jurisdiction in a decentralized way. In the latter case, city or local transportation authorities choose the system that maximizes residents' welfare, taking as given the decisions made elsewhere, essentially competing for residents (or workers). Our analysis shows that even though a shift toward a decentralized arrangement of the transportation system would generally lead to overinvestment (relative to the centralized case), the extent of this bias depends on the specific factors that drive transport authorities in deciding the transportation system, on the landownership structure, and on the financing arrangements in place. The paper also shows that, in a more general setup, when the two cities differ in their productivity levels, the more productive city will tend to overinvest in transportation systems that connect the two cities, and the less productive city will tend to underinvest in those systems.

Prateek Reddy Yammanuru, Ayush Jain, Harihara Vinayakaram

Blockchain is the latest buzzword in the FinTech scene and all companies big and small are vying to launch blockchain enabled products. At the basic technology level Blockchain is a distributed technology application. The challenges of operating such an application are known [1]. But the techniques of developing distributed applications by large enterprise teams, in a typical SDLC lifecycle (Develop, Test, Deploy and Upgrade) is not well known. Without proper methodologies / Formal Tools as is the case with most blockchain systems, bugs slip in easily. Studies on failures point to developers missing low handing bugs as most of the errors are simulated with 3 nodes or less [2]. The developer ecosystem is fast changing with technologies like containers and the emerging Micro Services architectures and Cloud Native Computing. The decisions on setup, build, CI/CD, Automated Testing are not taken at the beginning and as pointed out by [3] affect the entire project. The good news is that there are lot of tools available in the Open source domain that addresses the needs. The bad news is that picking the right combination to work in team sizes of 5 or more is not straight forward. This paper details our journey and lessons learnt on setting up Application Development Teams for Rapid Development in Blockchain using multiple blockchain tools like Ethereum and the HyperLedger Fabric. It details both our application architecture and the modifications needed to enable a Cloud Native architecture and the build/ deploy/ testing frameworks that we used.

Chris Baraniuk

No abstract is available for this record.

Timothy Revell

No abstract is available for this record.

Marko Modsching, Axel Apfelbacher, Johann Horch, Nathan Kummer

This paper discusses concepts and approaches to settling and clearing processes in securities trading, and how they can be optimised by shared ledger technology. The principal idea is that a trade is ultimately a simple swap of ownership IDs of two individual assets. By successfully updating the link between the ID and asset on a distributed ledger, the ownership transmission is irreversible and visible to other traders, signalling that the asset is now assigned to someone else. The paper introduces digital assets in conjunction with digital asset issuers as special players in order to run such an infrastructure. In addition, an adapted model of transaction as the swapping unit is introduced to enable a trade without one party taking a leap of faith. With that set-up in mind, the paper discusses different blockchain architectures and technologies that the system could potentially run on.

Shreekanth M. Prabhu

Governance and Social Change are ongoing processes. In this work we attempt to develop a framework for good governance to catalyze social change. Zachman did pioneering work to define a framework for Enterprise architecture. It is a comprehensive ontology that guides information architecture. Here we evaluate Zachman framework for its applicability to achieve good governance. In addition, we draw on concepts from Unified Foundational Ontology to extend our framework. We also look at applying Balanced Score-Card approach for the governance scenario. In addition we also see how information management framework can inter-operate with models like theory of change and Bartels' theory of separations. We also evaluate the use of distributed global ledger protocols/methods such as Block-chain, Paxos and Raft to manage the state change in governance related information.

Ioana Deleanu

De bitcoin is sinds zijn inceptie paradoxaal genoeg zowel besmet als aansprekend geweest. De aanhangers ervan menen dat de bitcoin in een eerlijker, meer gedecentraliseerde vorm van financiering zal gaan voorzien. Tegenstanders wijzen er daarentegen op dat dubieuze klanten veel gebruik maken van bitcoin-betalingen. De traditionele regels voor klantidentificatie werken echter niet goed voor deze bedrijfstak. Het gebruik van financiële prikkels kan wel leiden om tot een identificatiesysteem te komen dat het nationale niveau overstijgt.

Robert Herian

Abstract There are important synergies between the trust of blockchain and that of trusts law. This article critically examines the intersection between law and blockchain technology through an exploration of the notional impacts upon orthodox practices and principles of trusts law made by blockchain and other “disruptive” technologies, including smart property and the Internet of Things.

David Burth Kurka, Jeremy Pitt

The increasing automation and capacity of communication of industrial systems brings new possibilities and challenges to the sector. We investigate a problem of distributed and collective supply and discuss solutions to the issue of fair and reliable decision making in open systems. By combining principles of social organisation with blockchain and smart-contract technologies, we show that it is possible to develop a system for common-pool resource management able to take quick decisions on an industrial scale, while ensuring cooperation and self-organising strategies that encourage compliance. Our results demonstrate that our model -- the Smart-CPR - is able to distribute resources efficiently and is capable of detecting and punishing non-compliant or unhelpful behaviour.

Qianwen Xu, Jianfang Xiao, Xiaolei Hu, Peng Wang · 5 authors

No abstract is available for this record.

Н. В. Корень

Radical transformation processes in the economy, administrative reform and modernization of the public relations system entail the need for building adequate regulatory mechanisms to eliminate influences of negative factors, stabilize and sustain the development dynamics in the conditions of limited resources. The prolonged prevalence of situational analysis for purposes of administrative decisions making on budget-related issues prevented from effective setting and implementation of strategic objectives, which, once coordinated, would enhance the effectiveness of reforms in the budget system in the whole and the mechanism for interbudget relations in particular. Their high effectiveness is a key and complicated objective of public finance administration in a country. Solutions of problems related with stabilization of economic dynamics, overcoming of consequences of financial and economic crisis require advanced theoretical approaches to enhancing the effectiveness of inter-budget relations as an important component of budget control. The amendments to the budget legislation, adopted in 2014-2015, are supposed to provide for anew model for financing of local budgets and inter-budget relations and the guidelines for reforms of budget and taxation decentralization. The practice of budget control in 2015 shows that the current legal system for control of inter-budget relations had many unsettled issues which calls for its further improvement. Further implementation of the reform of budget decentralization and enhancement of inter-budget relations effectiveness requires extension of rights of local governance bodies, enlargement of their budget autonomy and clearly specified responsibilities.

Olexandr Palagin, Volodymyr Romanov, Igor Galelyuka, Volodymyr Hrusha · 5 authors

In the article the features of wireless smart biosensor for sensor networks in ecological monitoring are considered. The developed wireless smart sensors manufactured on certified contract manufacture, is described. The results of wireless sensors testing are given.

Orrala Cajas Kattya De Los Ángeles, Chompol Pincay Luis Eduardo

No abstract is available for this record.

Artur Sierpiński

Streszczenie: Celem zreferowanych w artykule bada jest ocena speniania przez kryptowalut funkcji ekonomicznych i spoecznych pienidza. W trakcie bada za pomoc programu komputerowego uzyskano 7561 Satoshi, ktre nastpnie poddano prbom uytkowym metod L

Rahul Darmwal

Furious customers disputing bills, issues of payments between operators for roaming services, sim clones and illegal eavesdropping, troubleshooting in multi-vendor-These are some of the most well-known issues faced by Telecom Operator. What if there was a way to overcome these issues. The potential benefits would be huge and at same time greatly improve perception of Operator in eyes of its customers. One such disruptive technology, which uses Distributed Ledgers and operates trustless, is being envisioned to solve such problems within Telco's. A lot of literature is available describing how blockchain can be used to power todays Telecom use cases, however, hardly any papers describe the challenges that needs to be overcome to actually make blockchain a mainstream technology in Telecom sector. This lack of reality check was inspiration for writing this paper. In this paper, we try to understand Blockchains, some proposed blockchain implementation for Telecom use cases and challenges that need to be addressed to enable these use cases.

Daniel W. Moore

This article examines representations of fire-signaling in Greek historiography from Herodotus to Polybius. These historians’ depictions of either the extraordinary potential or the possibility for confusion inherent in this form of communication are understood to be indicative of each’s broader views on the effectiveness of human communication, most importantly through the writing of history. The distinctive portrayals of fire-signaling in the works of Herodotus, Thucydides, and Polybius, therefore, are shown to reflect shifting perspectives toward both technology and historiography.

Velasco González, Rafael Pablo

This thesis offers a critical investigation of the Bitcoin currency and the operation of its technical structure, i.e. blockchain technology. The main objective of the research is to identify and describe the specific power dynamics performed by and through this digital phenomenon. “Power dynamics” are framed in this work largely in terms of authority and sovereignty. To structure an exploration of such dynamics, the narrative is overarched by four different notions of “utopia” —as paradox, ideal, no-place, and imagined governance— that address the following main questions always underpinned by the general inquiry on power: What is the Bitcoin Blockchain? Where is it located? How are power relations performed in it? And how are power relations modified in relation with previous institutional systems? The thesis addresses distinct notions of authority in Bitcoin through the observation of its historical, spatial, and organizational characteristics. It maps the techno-political emergence of the blockchain system, the geographical distribution of Bitcoin’s infrastructural network, and the strategies for governance involved in its development as software. Based on the observation of these settings, this thesis argues that Bitcoin posits a restructuration of power dynamics through the automation of code, in particular, through its process of production. In order to develop this restructuration, the power dynamics of the Bitcoin blockchain are weighted against authority models of the state’s institutions. The thesis builds upon existing political theories of Empire (Hardt and Negri), protocol (Galloway), and the Stack (Bratton) to develop a critical account of Bitcoin’s power dynamics. The work sits in between the disciplines of Media Theory, Software Studies, Political Theory, and Digital Methods, and makes use of qualitative and quantitative methods to empirically support the former argument.

Graham Hand

Technical, economic and social changes are happening so rapidly that it sometimes feels like a parallel universe operates alongside our own lives. The implications for investing are massive but unfathomable. Traditional financial analysis is spun on its head when the market values a company like Tesla higher than General Motors. In 2016, Tesla made a loss and produced only 76,000 cars, while GM had net income of US$9.4 billion and sold over 10 million vehicles. Uber churns through cash by the billion and will probably never make a profit, but is valued at US$70 billion. Have you ever heard of a game called Dungeon Fighter? Unbelievably, it has grossed more revenue since 2005 than Star Wars, Hollywood's leading franchise across eight movies, has earned since 1977.

Michael Bacina, Sina Kassra

Token sales (also known as Initial Coin Offerings ('ICOs')) have made headlines this year as part of huge price increases in the cryptocurrency space. They bring a decentralised form of crowdfunding to the blockchain which is not managed by a third party (such as Kickstarter). The prices of popular cryptocurrencies such as Bitcoin and Ether skyrocketed during early 2017. Huge amounts of money have flowed into the sector, far exceeding the funds made available under traditional forms of fundraising for tech start-ups. This shift in the fundraising landscape has occurred just as the Australian government has finally regulated and permitted crowdfunding for public companies via the Corporations Amendment (Crowd-sourced Funding) Act 2017, with a potential extension to proprietary companies expected later this year.

Syed Akhter Hossain

A revolutionary trustable sharable computing outcome, the blockchain is essentially a distributed database of records or public ledger of all transactions originated from digital events and shared among participating parties within a computing framework. Each transaction of the chain in the public ledger is verified by consensus of a majority of the participants in the system and its constituents. Once recorded, information can never be erased and neither altered. The blockchain contains a certain and verifiable record of every single transaction ever made during the business operations. In general sense, the blockchain could be described simply as being a way of storing the information of a transaction, between multiple parties in a trustable way. Recording, sharing, storing and redistributing contents in a secure and decentralized way. Being owned, run and monitored by everybody and without anyone controlling it. Besides, avoiding any kind of modifications or abuses from a central authority. Blockchain technology is non-controversial and has worked flawlessly over the last few years and is being successfully applied to both financial and non-financial world applications and listed as as the most important invention since the Internet itself. Besides, digital transformation is taking off as rapid agent for change as part of the global business convergence. In this article, detail of blockchain technologies is presented from the perspectives of digital business transformation along with its future evolutions.

Dennis H. Martens, Alexander Van Tuyll Van Serooskerken, Mart Steenhagen

Today, financial services firms face more new and impending regulation than ever before. One area where firms are especially struggling is implementing compliant and effective Know Your Customer (KYC) procedures. Banks experience high onboarding costs of corporates, lack of standardisation across the industry, and a lot of manual effort is required for KYC. In addition, banks’ corporate customers have a far-from optimal user experience due to the long onboarding time and repetitive onboardings at multiple banks. Blockchain can address most of the prominent issues and revolutionise how banks address KYC. The new blockchain-enabled KYC utility model entails a network of banks that shares a distributed ledger with corporate client profiles. It replaces the current centralised KYC utility model, enhances data transparency, facilitates the auto-execution of KYC and other checks, increases efficiencies and ensures an enhanced customer experience. Blockchain can provide a solid solution to a number of challenges that KYC faces, but blockchain in itself comes with a number of challenges that need to be solved before it can be used in production on a large scale. Regulations, privacy concerns and market adoption are the important challenges at the moment. To progress with a blockchain-enabled KYC solution, it is advised to carefully address these challenges, apply the right implementation strategy, cooperate with different players within the financial industry, find inspiration and lessons learned from KYC and blockchain start-ups, and balance the long-term blockchain vision with more immediate solutions to KYC challenges.

Michael Mylrea, Sri Nikhil Gupta Gourisetti

Blockchain may help solve several complex problems related to integrity and trustworthiness of rapid, distributed, complex energy transactions and data exchanges. In a move towards resilience, blockchain commoditizes trust and enables automated smart contracts to support auditable multiparty transactions based on predefined rules between distributed energy providers and customers. Blockchain based smart contracts also help remove the need to interact with third-parties, facilitating the adoption and monetization of distributed energy transactions and exchanges, both energy flows as well as financial transactions. This may help reduce transactive energy costs and increase the security and sustainability of distributed energy resource (DER) integration, helping to remove barriers to a more decentralized and resilient power grid. This paper explores the application of blockchain and smart contracts to improve smart grid cyber resiliency and secure transactive energy applications.

Lei Xue, Yunlong Teng, Zhenyuan Zhang, Jianping Li · 6 authors

The problem is discussed that large grid fluctuation caused by distributed generation integration, pointing out that the microgrid power local consumption is a solution to this problem. However, power transaction volume of electricity in microgrid is not large, while management has not simplified, and labor cost is high. The introduction of power market can solve local consumption problem of microgrid. Using blockchain technology can simplify the management of microgrid power transactions and realize peer-to-peer power transaction. Microgrid dispatch centers can also be simplified. The purpose of this paper is to explore applications of blockchain technology related to electricity market on microgrid and to present a framework how blockchain is employed to facilitate peer-to-peer electricity sales in microgrid.