The Bitcoin to be a virtual currency and part of the cryptocurrencies had a fall, this was given by aspects such as speculation and fear of investors, the seasonality of cryptocurrencies by the so-called effect seasonal pattern that consists of abnormally high returns during the month of January compared to the rest of the year). On the other hand, there are the rules of governments and insecurity and the fear that they have reverse investments due to the accumulation of losses in their investments, including the people who use it as a means of payment and who do not have financial backing, cryptocurrencies is a subject where it is causing a lot of controversy at present that is very accelerated and entering countries considered great powers.
Gabriel Henrique Dalmolin, Josemary Sime Ferreira, Lenon da Silva Pio, Ludyson Gustavo Klayn · 5 authors
O presente trabalho tem por finalidade apresentar, a partir da metodologia de pesquisa descritiva bibliografica e exploratoria, a oferta deterministica do Bitcoin, ou seja, mostrar que a moeda possui uma oferta ja determinada e conhecida e enquadra-la com a teoria monetarista. Primeiramente discorre-se sobre a evolucao historica da moeda e as principais funcoes desempenhadas por ela. Posteriormente, explana-se as principais caracteristicas e desafios do Bitcoin. Para atender ao objetivo geral serao abordadas as teorias keynesiana e monetarista, de Milton Friedman, contrapondo-se com uma conducao da politica monetaria de discricionariedade. Seguindo, aborda-se a critica das politicas keynesianas pelos monetaristas, as limitacoes da politica monetaria e as recomendacoes de conducao dessas politicas. Assim, conclui-se que o Bitcoin se enquadra com a teoria monetarista, onde o autor defende em sua teoria que a moeda deve possuir uma taxa de crescimento constante, precisa e de conhecimento publico, citando, alem disso, que sao necessarias regras para uma politica monetaria eficiente.
The Riemann-Roch theorem is a useful tool to calculate the dimension of the space of meromorphic functions with prescribed zeros and poles. There are severals versions of the theorem such as the Riemann-Roch theorem for line bundles, for (algebraic) curves, for surfaces and for higher dimensions. In this thesis, we will focus on the Riemann-Roch theorem for algebraic curves over an algebraically closed eld, which is a very important result in complex analysis and algebraic geometry. The study of the elds of rational functions on curves can be very useful in the proof. So we will recall some pre-knowledges in commutative algebra and some facts about a ne varieties. Then talk about function elds, discrete valuation rings and Weil di erentials to prove the theorem, using the methods of Andre Weil.
Income and property taxation are among the most prevalent policy instruments to finance local expenditure in countries with a high degree of decentralization. However, little is known about their relative efficiency and redistributive properties. This paper compares both tax instruments within the same framework and investigates their relative attractiveness to finance local expenditure. It further allows for inter-municipal spillovers and rivalry in the consumption of the publicly provided good. The analytical model identifies the different inefficiencies in both tax regimes which include intra- and inter-municipal free-riding. In a numerical illustration, the model is solved for the resulting equilibria. This allows to quantify the gross welfare loss from decentralization and also reveals a decomposition of the welfare loss into its components.
This research project investigated the reasons for price fluctuations of cryptocurrencies. Cryptocurrencies are digital currencies that are created over a decentralised, secure network built on the blockchain technology. The current challenges with understanding price fluctuations are that there is limited research in the field and extreme volatility in the environment. \nExploratory research was conducted using semi-structured interviews to understand and analyse the drivers of factors identified in the literature contributing to price fluctuations of cryptocurrencies. Insights were generated for the drivers of user perception, misconceptions that surround cryptocurrency security and the role of regulators in the cryptocurrency space. The research expanded the existing literature and offered propositions for future research that contribute to the theory surrounding price fluctuations of cryptocurrencies. \nThe findings should provoke business and management to reshape the way that cryptocurrencies are received and positioned in the marketplace. In addition, these findings are significant for those making business or social decisions regarding cryptocurrencies or those that are redefining traditional currency transactions.
The digital art landscape has rapidly expanded since the passing of Visual Rights Act of 1990 (Baron, 1996; CAA, 2013). With the recent advent of blockchain technologies, derived from Nakamotoâs Bitcoin currency, new possibilities have emerged for the way artistic materials can be exchanged and how communications can be conducted. This research examines emerging applications for decentralized blockchain technologies in community-based art projects and digital art startupsÂŽ. The work of three organizations, ConsenSys, Ethereum, and Monegraph, is explored. Through the use of blockchain technologies, digital artists can create a traceable and tradable record of their work, while generating a critical discourse around the reproducibility of media. In this research, I investigate the potential uses of digital art in the blockchain and its educational value in visual arts education.
The subject of this bachelor thesis is the impact of bitcoin and blockchain technology on the sector of financial services. The aim of the thesis is to identify the impact and consequences arising from deployment of blockchain in the sectors of banking, insurance and capital markets. At the beginning, the basic concepts associated with bitcoins and blockchain are explained. Followed by the first part which is dedicated to theoretical bases of bitcoin and blockchain. The other sections are already dealing with specific cases of blockchain use in the above-mentioned sectors, while trying to outline the implications that the deployment of this technology are related to. At the very end is a comprehensive SWOT analysis of the blockchain in the context of the financial services sector.
Jun Zhang, Wen Zhong Gao, Ying Chen Zhang, Xin Hu Zheng · 7 authors
Intelligent distributed electrical energy systems (IDEES) are featured by vast system components, diversifled component types, and difficulties in operation and management, which results in that the traditional centralized power system management approach no longer flts the operation. Thus, it is believed that the blockchain technology is one of the important feasible technical paths for building future large-scale distributed electrical energy systems. An IDEES is inherently with both social and technical characteristics, as a result, a distributed electrical energy system needs to be divided into multiple layers, and at each layer, a blockchain is utilized to model and manage its logic and physical functionalities. The blockchains at difierent layers coordinate with each other and achieve successful operation of the IDEES. Speciflcally, the multi-layer blockchains, named "blockchain group", consist of distributed data access and service blockchain, intelligent property management blockchain, power system analysis blockchain, intelligent contract operation blockchain, and intelligent electricity trading blockchain. It is expected that the blockchain group can be self-organized into a complex, autonomous and distributed IDEES. In this complex system, frequent and in-depth interactions and computing will derive intelligence, and it is expected that such intelligence can bring stable, reliable and efficient electrical energy production, transmission and consumption.
Decentralized trusted timestamping based on blockchains is used to protect a large variety of digital data. At present, in the case of trusted timestamping services, such related information is not included in the OP_RETURN field of a Bitcoin's transaction chain, which has a limited size (40 bytes). When OP_RETURN is extended, (e.g., with multiple OP_RETURN fields) the transaction is rejected by the Bitcoin network. We propose storing data in the blockchain by encoding into Bitcoin addresses. The transactions created by the proposed method are similar to the usual transactions; therefore, they will not be rejected. The proposed method expands the storage space to a maximum of N*20 bytes, thereby enabling the storage of additional information (e.g., file names, creator names, and keywords) as well as file hashes. We performed experiments with a picture and its copyright information. We set N =3, resulting in storage of 60 bytes of data. The experimental results indicate that the proposed method can timestamp a file in an average of 24 min at a possible cost of 0.24 USD. We believe that the proposed method can prove the existence and integrity of a digital file, which is helpful in copyright protection.
The article deals with contemporary tendencies of the banking policy of the world. For this purpose, the key issues have been worked out: analysis of the evolution of formation, specification of the essence and main characteristics of the blockchain technology, profiling of the mechanism of the work of the block chain technology, disclosure of the main purpose and the features of the use of smart contracts in the block chain environment, formulation of the advantages and disadvantages that arise in the process of working with smart contracts, analysis of perspective directions of application of smart contracts in the banking system. The study underlines that under current conditions of broad consumption, crypto-currency payments found general application. Such payments are relatively simple: there are wallets, you can transfer money from one wallet to another or several at once. The network is built on principles that allow you to do it without a single center, but the tasks are carried out in a traditional way. Thus, it is an ordinary payment system consisting of people, money and money transfer. Under the influence of the continuous development of technologies, a payment network that allows you to write programs that not only worked with wallets was created, but they themselves would take money out of wallets and decide who and how much to send. Important conditions for smart contracts are transparency, security and universality for all users.
Rapidly changing digital landscape and emergence of disruptive technologies produces opportunities and challenges for private as well as public sector. New advances such as Blockchain, which is a distributed disintermediated platform that enables trade in value between non-trusted parties peer-to-peer, to markets and sectors of economy, which rely on trusted third parties. Looking beyond this issue into a nature of the technology that comprises blockchain, i.e. distributed ledgers and smart contracts, and the benefits of blockchain become apparent. The system operates an open, transparent, shared ledger of immutable transactions. The ledger is permanent and tamper-proof. Public and tax administration can benefit from the transparency and immutability, as it should increase compliance, accountability and the reduction of the opportunities for fraud. Smart contracts are essentially pieces of the self-executing code, which enable real-time automatic compliance, thus massively reducing the transaction costs and fraud. <br/>The article considers how blockchain technology is compatible with such taxes as VAT, payroll and transfer pricing; considers the necessary prerequisites of the supporting governance infrastructure and summarizes country initiatives.
Abstract The exponential increase of the traffic volume makes Distributed Denial-of-Service (DDoS) attacks a top security threat to service providers. Existing DDoS defense mechanisms lack resources and flexibility to cope with attacks by themselves, and by utilizing otherâs companies resources, the burden of the mitigation can be shared. Technologies as blockchain and smart contracts allow distributing attack information across multiple domains, while SDN (Software-Defined Networking) and NFV (Network Function Virtualization) enables to scale defense capabilities on demand for a single network domain. This proposal presents the design of a novel architecture combining these elements and introducing novel opportunities for flexible and efficient DDoS mitigation solutions across multiple domains.