Blockchain Papers

Nino Lazuashvili, Alex Norta, Dirk Draheim

No abstract is available for this record.

Benjamin Heck

Die digitale Transformation stellt das Supply Chain Management vor große Herausforderungen. Es muss Antworten und Lösungen finden, um in einem global vernetzten Marktumfeld die Wettbewerbsfähigkeit der Supply Chain sicherzustellen. Das Konzept der Blockchain und der Smart Contracts versprechen großes Potenzial. Gerade im Bereich der Prozessautomatisierung und der Kostensenkung, durch das Entfallen bisher notwendiger Clearingstellen. Allerdings stellt sich auch immer die Frage nach der Datensicherheit und Schutz vor unbefugter Manipulation. Ziel dieser Arbeit ist es Anwendungsmöglichkeiten und Potenziale einer Blockchain und Smart Contracts im Supply Chain Management zu identifizieren und zu beschreiben

Joseph Lee

No abstract is available for this record.

Yuriy Melnyk

Development of -technologies has led to changes in financial systems of different countries promoting their improvement and progress.

Georgiana-Loredana Schipor

The present paper explores the current development of cryptocurrencies, emphasizing the concept of trust related to the blockchain technology and the digital currency market. The study offers a fundamental review of relevant research papers on Bitcoin, examining the main issues of trust among five categories of stakeholders: Governments, users, miners, exchanges and merchants. The results highlight the trust challenges on Bitcoin, reveling a unique perspective of risks on the cryptocurrency market, contagion effects, decentralisation systems or cryptocurrency regulation. The blockchain features are explained in order to better understand the Bitcoin mechanism, presenting the advantages of using such technology, concluding that Bitcoin is a product of the mistrust in financial institutions and an attempt to use alternative payment systems in a more secure way.

Elias Abou Maroun, Jay Daniel, Didar Zowghi, Amir Talaei‐Khoei

No abstract is available for this record.

Polinpapilinho F. Katina, Charles B. Keating, Joseph A. Sisti, Adrian V. Gheorghe

Blockchain is probably best known as a technology that underpins bitcoin cryptocurrency, taking records (e.g., confirmed financial transactions) and placing them into 'blocks', which are linked to prior blocks - forming a chronological 'chain' of blocks. However, bitcoin blockchain is only one instantiation of blockchain technology and there exist a few qualitative analyses addressing instantiations of blockchain technology. The aim of this study was two-fold: 1) to understand the difference between bitcoin and blockchain; 2) to delineate the need (and role) of governance in blockchain technology. First, fundamental relationships (and differences) between bitcoin and blockchain are presented. Second, drawing on societal blockchain technology concerns, a key element (i.e., governance) and its role in shaping blockchain technology is suggested. This research concludes with possible areas of research (and research questions) that can enable realisation of blockchain governance along the areas philosophical, theoretical, axiological, methodological, axiomatic, method and application dimensions.

Henri Arslanian, Fabrice Fischer

No abstract is available for this record.

Vasundhara Sharma, Anitesh Barua, Andrew B. Whinston

No abstract is available for this record.

Eric D. Chason

The 2017 were remarkable times for Bitcoin and other cryptocurrencies.In January 2017, the market price for one unit of Bitcoin (1 BTC)' was approximately $1,000; by December 2017, it had climbed to almost $20,000.2Despite the collapse of this speculative bubble, Bitcoin remains an important development in economics, finance, technology, and law.Also in 2017, Bitcoin produced an offshoot cryptocurrency, Bitcoin Cash.Bitcoin Cash arose because members of the Bitcoin community disagreed on how Bitcoin should change in response to its growing popularity and allow for a greater number of transactions. 3 Bitcoin and other cryptocurrencies are governed by "communities" and "consensus.' Community members who wanted deeper, more structural, changes effectively departed the Bitcoin community and created a new one, Bitcoin Cash.The dissidents did not create Bitcoin Cash from scratch.Instead, they cloned Bitcoin as it existed on August 1, 2017 and grafted their desired changes onto the cloned system.sSince Bitcoin is not backed by any external assets or business enterprise, 6 the dissidents could create Bitcoin Cash seemingly out of thin air, writing some computer code and garnering support of users.There was no severance, spin off, or other division of the Bitcoin system in a formal or legal sense.Since its creation, Bitcoin Cash has become a successful cryptocurrency, currently ranking sixth in terms of market ' See infra Part III.B.

Tatiana Cutts

No abstract is available for this record.

Kristin N. Johnson

No abstract is available for this record.

Tae‐Young Yoon

No abstract is available for this record.

Bakri Awaji, Ellis Solaiman

No abstract is available for this record.

Jeroen Koenraadt, Edith Leung

Despite calls for regulation in the crypto utility token market, it is unclear how crypto token investors value current regulatory proposals. We find that on average, investors react negatively to news that increases the likelihood of securities and transparency-related regulation. We also find that this negative reaction is attenuated for tokens rated higher on quality and transparency by intermediaries, those that have higher levels of disclosure, and listed on more liquid exchanges. The observed variation in token transparency and this muted reaction suggest investors perceive disclosure costs to be lower for tokens in more transparent environments, suggesting that transparency matters to investors.

Vandana Rastogi, Priyanka Kushwaha

Digital currency is a type of currency available in digital form. Though it exhibits similar properties and value as physical currency but it can allow instant transfer of ownership and thus makes transactions smooth. It is used as a blanket term for all electronic money including both virtual currency and cryptocurrency. It can be regulated or unregulated. However virtual currency is a complicated term to understand. Though it comes under digital currency but its functions are totally different and have some issues in its regulation. It only works through designated softwares, mobiles or computer application through digital wallets. We can say that it is a subset of digital currency group. Due to lack of a centralised regulatory authority, such virtual currencies are prone to wide swings in their valuations. Despite around 77% of Indians being familiar with such currencies, the awareness about it is very low. Around 23% of consumers are unconcerned about security related issues while dealing with cryptocurrency. India has a very complicated relationship with cryptocurrency. In this paper we will discuss the success and failure levels of various forms of virtual currency, issues related to its ban in India.

Remigijus Paulavičius, Saulius Grigaitis, Aleksandr Igumenov, Ernestas Filatovas

In this paper, we present the progress of blockchain technology from the advent of the original publication titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” written by the mysterious Satoshi Nakamoto, until the current days. Historical background and a comprehensive overview of the blockchain technology are given. We provide an up-to-date comparison of the most popular blockchain platforms with particular emphasis given to consensus protocols. Additionally, we introduce a BlockLib, an extensively growing online library on blockchain platforms collected from the various sources and designed to enable contributions from the blockchain community. Main directions of the current blockchain research, facing challenges as well as the main fields of applications, are summarized. We also layout the possible future lines in the blockchain technology development.

Biser Tsvetkov, Hristo Kostadinov

After its introduction the smart contract platforms got practical use when they become key part of the Ethereum public blockchain and defined the concept of distributed applications (dApps). Smart contract platforms, based on distributed ledger technologies (DLT), are used in various industries such as banking, government and law, healthcare, insurance, and transportation. One area of a DLT and smart contracts could also be used is the area of the software lifecycle management (SLM). Complex SLM procedures involve many parties such as customer, software provider, technical and business consultants, auditors, hardware providers, third party software vendors, and others. In this paper we investigate the applicability of DLT-based smart contract platforms to support multi-party SLM processes for complex customer systems, components of which are running on premise, in the cloud and on edge devices.

Auwal Adam Sa’ad, Khaliq Ahmad, Abdulmajid Obaid Hasan Saleh

Peer-to-peer financial services are increasingly becoming significant game changers in the financial sector across the globe. Initially, few structures were developed to help cater to the attention of the Islamic financial industry players involved in peer-to-peer dealings. The new trend of the technological evolution in the banking and financial sector has proved to be the next challenge in this sector. However, the survival of Islamic fintech will heavily rely on the existing established trust within the sector. The potential collaborations between the established Islamic banks, fintech players and start-ups will certainly unleash the potentials of today’s technologies in the Islamic finance industry. Being in their early stages, Malaysia and its counterparts from the GCC states have the potentials to becoming leaders in the Islamic fintech industry and may work together to develop a necessary framework for Islamic fintech advancement. Peer-to-peer arrangement connects crowdfunding investors with entrepreneurs through more transparency, speed dealings and almost free from complications in the documentation. In view of the fact that mushārakah is becoming more practical under the concept of Islamic peer-to-peer deals, this paper attempts to develop a new peer-to-peer financing which is underlain by the Mushārakah Smart Contract Model. The paper proposes a mushārakah model using Mushārakah Smart Contract in which the investors would be crediting their investments for mushārakah purposes with virtual lenders for specific Sharīʽah compliant businesses and share in the profit, based on an agreed dividend under the mushārakah principles. It also highlights the potential structures, cyber risks, and devices to mitigate them by using mushārakah standards and measures within the Sharīʽah principles.

Dominik Sparer, Henning Deeken, Björn Künsting, Philipp Sprenger

No abstract is available for this record.

Lingxiao Song, Ning Nan, Shan Wang

Blockchain, or distributed ledger technology (DLT), is expected to be a disruptive technology by enabling a highly decentralized and trust-free business environment. Yet the business pursuit for profit maximization calls for a more centralized structure and thereby conflicts with the decentralized ideology of blockchain. In the context of blockchain-driven supply chain finance (SCF), while blockchain technology enables the decentralization of information, the decentralization of cash flow still relies on mid-tier suppliers’ token delivery in a centralized transaction structure. In other words, mid-tier suppliers can become a “bottleneck” in blockchain-driven SCF. In this paper, we consider the supply chain network as a complex system where firms are self-organized and adaptive to their competitive environment. Via this theoretical lens, we investigate how the application of blockchain technology (information flow), mid-tier suppliers’ token delivery (cash flow) and supply chain transaction structures (goods flow) interplay over time. We propose that in short term, blockchain technology increases mid-tier suppliers’ transaction efficiency and thus motivates mid-tier suppliers’ token delivery and promotes the decentralization of supply chain transaction structure; in long term, the decentralized supply chain transaction structure will in turn negatively affect mid-tier suppliers’ token delivery motivations and drive the centralization of a supply chain. We will test our theoretical propositions by a series of simulation experiments in an agent-based model.

Guillermo Martínez Cons, Alondra Guadalupe Mora Hernández

Technological advances have resulted in better strategic business planning and new and innovative ways of doing business. However, not all industries adapt immediately to these transformations that, even when they have innovated with the disruptive technologies that they introduce, they have also brought with them irreversible consequences in the way in which we relate. The fourth industrial revolution that we are witnessing today shows a panorama where scientific advances are increasingly challenging traditional jobs and careers to adapt and the social sciences are no exception. In the particular case of law, new challenges are presented in those that it is essential to frame in a normative all those conducts that derive in a human connection including those that are carried out by means until recently considered unconventional, such as digital platforms and electronic encryptions that nowadays are practiced in innumerable areas, one of the most relevant ones: economic transactions.

A.R. Mukhtarova, Natalya I. Lesnova

No abstract is available for this record.

Jürgen Franke, Wolfgang Karl Härdle, Christian Hafner

No abstract is available for this record.