Abstract The use of blockchain technology has increased tremendously over the last decade. Blockchain continues to evolve and new features and capabilities are developed continuously. Although the use of the technology started in cryptocurrency (specifically, Bitcoin), it has expanded to other areas that can benefit from a shared, secure, ledger. This article investigates the potential impact of blockchain technology on the accounting profession. This article analyzes data security and privacy considerations, technology, adoption, and implementation considerations, and some considerations that relate specifically to accounting and auditing. We find that the unique needs of an accounting information system may not be a good match for blockchain as it currently exists. While we explain that blockchain may deliver many benefits, particularly in the areas of data reliability and the financial statement audit, we identify several factors, which raise significant questions about whether blockchain will ever be significantly integrated in the accounting function. Chief among those concerns is the scalability of the technology at an acceptable cost. While significant investment has and will be made for further development of blockchain business applications, it is our assessment that proponents of blockchain integration in accounting have not yet made the economic case for it. We also have significant concerns about whether blockchain technology can adequately address risks associated with data security and privacy. Addressing all these issues will be a minimum requirement for gaining widespread acceptance by firms and their accountants.
After the 4th industrial revolution, the healthcare industry is striving to find new business models through new technologies. Among them, blockchain technology is one of the technologies that have great interest in the healthcare industry. Most providers of personal health record systems have difficulty in securing marketability due to various problems. Therefore, they try to integrate blockchain technology to develop new systems and gain marketability. However, blockchain has limitations in solving the problems of the personal health record system. In this study, we have designed a personalized health data management framework that enables information subjects to acquire full ownership rights of individual’s health data, based on distributed ledger technology. For the framework design, we refer to the structure of R3 Corda. It was designed with a different network structure than the existing blockchain systems so that the node can be operated on the personal user's mobile device. This allows information subjects to directly store and manage their own data and share data with authorized network members. Through the proposed system, the information utilization of the healthcare industry can be improved and the public health promotion and medical technology development can be realized.
Jan 1, 2019·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Given the hype around the cryptocurrency Bitcoin, blockchain technology (BCT) has also received considerable attention outside the financial sector. Multiple applications of BCT in supply chain management (SCM) are discussed in business practice and there is increasing interest in this topic within the academic community. In this paper, we intend to combine these two perspectives on BCT in SCM to summarize a current state of the art and to derive avenues for further research. For this purpose, a comprehensive framework of use case clusters of BCT in SCM is developed according to the distinctive features of BCT. The framework is used to analyze 53 applications of BCT in SCM which are derived from a systematic literature review and a secondary dataset of blockchain-driven innovations in SCM. We identify five emerging use case clusters of BCT in SCM which clearly extend the scope beyond frequently mentioned applications such as product tracking and tracing.
The purpose of this study is to determine the factors influencing investors' decision making on cryptocurrency investments and create investors' preference partworths by conducting conjoint analysis. In conjoint method, assessment criteria are called as attributes and each attribute has more than one level. Methodology-In this study, conjoint analysis has been conducted to create investors' preference partworths. Conjoint method is a statistical method which is conducting a survey-based research design that provides information on respondents' choices on attributes and their levels for a specific product or an investment option. In the first step, attributes and their levels have been determined, then conjoint bundles, which form the basis of the survey form, were created. As a third step, data collected have been analyzed and preference partworths have been created. Findings-Data collected for the study have been analyzed by using Marketing Engineering for Excel software. The findings of this preliminary study indicate investors' priorities in cryptocurrency investments. By assessing these priorities, a highly competing cryptocurrency can be created.
Along with other advanced technologies (AI, AR/VR, IoT), Blockchain technology has established a way to digitize all of our activities through cloud based development. A complex technology that embodied an ingenious and powerful vision to create a comprehensive solution to internet securities, Blockchain is rapidly evolving to be the next disruptive innovation for secured connectivity, promising major changes to how we work and live in the coming century. Our new challenge is how we will adapt with the advancements put forward by this new revolution. This article presents an overall view of Blockchain technology and its potential to contribute to the development of the future by proposing several directions for further research.
Blockchain Technology or known as the Distributed Ledger Technology (DLT) is becoming the game changer in the business industry because of its disruptive and transformative ability. The study aimed to determine the factors that influence the professional accountants to accept to use blockchain technology. Data were from 30 professional accountants working in the Kingdom of Bahrain as respondents using descriptive method of research. They were chosen using a non-probabilistic sampling.
In summary, this study has applied TAM model to examine cryptocurrency payment adoption in Taiwanese hotels, examining the factors that are more likely to affect the behavioral intent. The empirical results suggest that intent to adopt cryptocurrency payments is affected by perceived usefulness, and perceived ease of use of these payments. In turn, perceived usefulness is affected by trust towards these payments. Interestingly, perceived usefulness was not shown to be significantly affected by different types of risks associated with cryptocurrency payments, including financial risk, technological risk, and social risk. Perceived ease of use, in turn, is affected by convenience of cryptocurrency payments; and is not shown to be significantly affected by trust.
Blockchain technology (BT) is expected to bring a revolutionary paradigm shift in the manner the transactions are carried in the supply chains. BT provides better visibility and transparency by removing the disadvantages of trust related issues in a supply chain. In this paper, we advance the literature on BT and its adoption in the supply chain by developing, and statistically validating a model for understanding the user perceptions on BT adoption. The model is based on the integration of three adoption theories- technology acceptance model (TAM), technology readiness index (TRI) and the theory of planned behaviour (TPB). Based on a survey of 181 supply chain practitioners in India the proposed model was tested using structural equation modelling. The study found that the TRI constructs- Insecurity and discomfort have an insignificant effect on the perceived ease of use and usefulness. Perceived usefulness, attitude, and perceived behavioural control affect the behavioural intention. Subjective norm has a negligible impact on behavioural intention. This is one of the preliminary studies on BT adoption in supply chain and the findings imply that the supply chain practitioners perceive BT adoption free of efforts and would help them to derive maximum benefits for improving the supply chain effectiveness.
“One of the issues that arise when developing a crowdsourcing monitoring application is the fact that we rely on the measurements taken by the users, but, how to engage users to use this application and provide observations?” 1.
S. W. Kim, Eun-Jung Shin, Sung-Young Bae, Hyoung‐Goo Kang
The purpose of this study is to investigate factors affecting the acceptance, use of technology and concept of encrypted money such as bitcoin, In order to achieve the purpose of the study, we analyzed using statistical package based on 498 valid survey results.BR As a result, transaction cost, expansion of investment opportunity, compatibility, and anonymity have a significant effect on performance expectation. Expansion of investment opportunities, compatibility, and innovation tend to have a significant effect on spending expectations. Transaction costs, expansion of investment opportunities, compatibility, security, and government policies have a significant impact on social impact. Compatibility, innovation orientation, security, and government policy have a significant effect on promoting conditions. Performance expectation, effort expectation, social influence, facilitation condition have a significant effect on the intention to use bitcoin.BR Through analysis of mediating effect, it was confirmed that the innovative tendency has mediating effect on the intention to use bitcoin mediated through effort expectation and facilitation condition. The expansion of investment opportunity also confirmed the mediating effect on the intention to use bitcoin through the effort expectation and social influence.BR Through the analysis of the heuristic control effect, we confirmed that there is the control effect of the usability heuristic on the causal path that affects the intention to use bitcoin from security. We have found that repeated exposure of past information leakage and security incidents affects the intention to use bitcoin. we confirmed that there is the control effect of the representative heuristic on the causal path that affects the intention to use bitcoin from the social influence. We have found that attributes with a representation of the encrypted monetary bitcoin defined by the public affects the intention to use bitcoin.BR This study suggests that government policy influences social influences and that security has an effect on usability control of bitcoin use intention. The activation of Korea
The "buzz" surrounding cryptocurrencies in online media last year has led to an increased interest in the topic as a possible source for investments. This paper aims to identify the key success factors for an m-learning cryptocurrency application that explains blockchain technology and cryptocurrencies for non-tech savvy people. The research methodology used for this paper applies the experimental method and probative logic. A survey was conducted among 128 participants, the target population being composed of people who have an interest in cryptocurrencies and who are involved in online crypto communities. The results of the study show that the people who invest in cryptocurrencies are usually those who have a high income and who possess other investment methods as well. When it comes to analyzing the mobile applications success factors, the study revealed that there are no significant differences between people who have cryptocurrency investments and those who do not in ranking mobile apps success factors. Also, besides cryptocurrency training the news and prices are among the most important features of an m-learning cryptocurrency application and on that account such an app must include them. The originality of this study comes from addressing an innovative topic as the research in this field is scarce. Furthermore, this paper raises awareness towards the necessity of educating people on this topic, on the need to research before investing in a specific project.
Blockchain technology integrates mathematical encryption, open source software, computer networks and incentive mechanisms. It created a crypto call hiding in a token. However, tokens should be used to purchase goods or services from offline retailers, but current tokens are used primarily for investment. Therefore, the most important thing at this point is how to get the royalty-based tokens integrated into the offline store. For this purpose, it is not realistic to install a new payment terminal in an offline store. Based on these perceptions, this study measures the application of investigated components to understand the impact of blockchain technology on customer loyalty programs. The main purpose of this study is to propose an integrated customer loyalty program model for blockchain technology using credit cards. This study shows how to implement an integrated customer loyalty program process in credit card-based blockchain technology and how to identify the importance of block-chain technology to improve customer loyalty programs.
Blockchain technology, popularized by Bitcoin cryptocurrency, is characterized as an open-source, decentralized, distributed database for storing transaction information. Rather than relying on centralized intermediaries (e.g., banks) this technology allows two parties to transact directly using duplicate, linked ledgers called blockchains. This makes transactions considerably more transparent than those provided by centralized systems. As a result, transactions are executed without relying on explicit trust [of a third party], but on the distributed trust based on the consensus of the network (i.e., other blockchain users). Applying this technology to improve supply chain transparency has many possibilities. Every product has a long and storied history. However, much of this history is presently obscured. Often, when negative practices are exposed, they quickly escalate to scandalous, and financially crippling proportions. There are many recent examples, such as the exposure of child labor upstream in the manufacturing process and the unethical use of rainforest resources. Blockchain may bring supply chain transparency to a new level, but presently academic and managerial adoption of blockchain technologies is limited by our understanding. To address this issue, this research uses the Unified Theory of Acceptance and Use of Technology (UTAUT) and the concept of technology innovation adoption as a foundational framework for supply chain traceability. A conceptual model is developed and the research culminates with supply chain implications of blockchain that are inspired by theory and literature review.
After Satoshi Nakamoto published ‘Bitcoin: A peer-to-peer electronic cash system’ in 2008, Blockchain has been GPT (General Purpose Technologies) that affect the whole cycle of the 4th Industrial Revolution. This study attempted to identify the innovativeness of Blockchain. Because of Blockchain’s ambidextrous characteristics, Blockchain has two kinds of innovativeness, technological innovation by physical technology and social innovation by social technology. Thus, this study will be useful to increase understanding and establishing strategy for Blockchain.
Jan 1, 2018·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Friedrich Holotiuk, Francesco Pisani, Jürgen Moormann
The emergence of blockchain technology has led to an animated discussion among both researchers and practitioners about its future prospects. Similar to other upcoming technologies, in the foreground of the analysis are often the potential benefits of blockchain. Much less discussed are the challenges the technology must overcome before achieving breakthrough in traditional areas, such as the financial services sector. To close this gap, and to identify the challenges blockchain needs to overcome, we explore its impact in the payments industry, which represents a major pillar of banking and the cradle of blockchain. For this purpose, we performed a Delphi study and subsequently conducted a number of dedicated interviews. The findings enable us to delineate six key challenges that have to be tackled. Our study contributes to the literature on blockchain and has important practical implications as it indicates issues that should be addressed in order to foster its dissemination.
The blockchain is one of the main mechanisms enabling Bitcoin to be a decentralized electronicpayment system. It provides the system with a shared transaction history, which can be verified byevery participant. With increased use, it has become apparent that there is limited possibility forscaling this to handle more transactions. Payment channel networks are one proposed solution tothis problem. They allow for more transactions to be done by moving some transactions to a sepa-rate network. The Lightning Network is one such network, which uses Bitcoin and the blockchain tooperate. While the transactions in this network will not be included in the blockchain, there will bedata there related to the network. This is because it needs the blockchain to manage the paymentchannels which the network consists of.In this project we have explored the blockchain with the goal of identifying transactions relatedto the Lightning Network, and by doing so, determine what information about it is available in theblockchain. We have created different methods for identifying these transactions. The methods usedifferent transaction characteristics differing in uniqueness, making some methods more precise,but having fewer results, and vice versa. We created software implementing the methods, whichwere used to parse the blockchain. The effectiveness of these methods have been quantified bycomparing the data we found when parsing the blockchain, to data we collected directly fromthe Lightning Network. The results shows that the methods are viable for identifying a subset oftransactions, and that precision can be sacrificed for finding more. By identifying these transactionswe were able to determine what information about the Lightning Network we can see from theblockchain perspective, and also some aspects where we are limited.We have also adapted heuristics from previous work doing blockchain analysis to our scenario.These were used to link related information we had found when parsing the blockchain, whichenabled us to create network graphs showing the relations between the Lightning Network channelsidentified on the blockchain. While the relations in this network graph were limited, comparedto the actual relations found within the lightning network, they show how the blockchain canbe used to infer non-explicit information about the lightning network. We have also identifiedseveral methods for potentially inferring or locating more information using what is available inthe blockchain.