As an emerging distributed technology, blockchain has begun to penetrate into many fields such as finance, healthcare, supply chain, intelligent transportation. However, the interoperability and value exchange between different independent blockchain systems is restricting the expansion of blockchain. In this paper, a notary group-based cross-chain interaction model is proposed to achieve the interoperability between different blockchains. Firstly, a notary election mechanism is proposed to choose one notary from the notary group to act as a bridge for cross-chain transactions. Secondly, a margin pool is introduced to limit the misconduct of the elected notary and ensure the value transfer between the involved blockchains. Moreover, a reputation based incentive mechanism is used to encourage members of the notary group to participate in cross-chain transactions. Ethereum-based experiments demonstrate that the proposed mechanism can provide an acceptable performance for cross-chain transactions and provide a higher security level than ordinary cross-chain mechanisms.
Xi Zhao, Peilin Ai, Fujun Lai, Xin Luo · 5 authors
Abstract In the emerging platform economy, blockchain technologies are reshaping the digital economy. Moreover, disintermediation and decentralization have broken new ground for platform organizations and management mechanisms and instigated the concept of a DAO ( Decentralized Autonomous Organization ). Recent literature on operations management has called for further research on governance issues related to DAOs. In response to this call, we explore the relationship between DAO management efforts and platform performance in this study. Specifically, we propose and theoretically articulate decentralized voting tasks in DAOs as a new form of organizing. Harnessing both online and on‐chain data from seven sources, we empirically examine how voting task division, task allocation, reward distribution, and information provision affect platform performance in the context of MakerDAO (an Ethereum‐based stablecoin issuance platform). Our findings reveal that strategic decisions arrived at through voting have a positive impact on platform operational performance under certain conditions, whereas operational decisions resulting from voting have a negative impact. Moreover, we elucidate the moderating effects of voting task execution characteristics on the relationship between completed decision tasks and operational performance. These findings have important implications from both theoretical and practical perspectives. We also share all the raw data we use to promote the development of blockchain‐related empirical research.
Teng Huang, Wayneyuan Tian, Haocheng Wang, Zhiyuan Yang
With the popularity of blockchain technology, more and more financial fields are ready to apply or have applied the blockchain technology to achieve technological upgrade. The Ether is the most popular platform which we can establish the smart contract to apply the blockchain technology. Decentralized financial DeFi is an important part of realizing the blockchain technology upgrade in the financial application. Based on blockchain technology, this paper introduces the basic working principle of blockchain and Ethernet. Then explains how it provides the technical foundation for decentralized finance as a technical innovation. It then proposes the advantages that DeFi apply in the financial sector and how it can bring benefits to individuals or enterprises based on the features of blockchain such as decentralization, no personal tampering and automatic information uploading.
The main contribution of this work is: Discuss the challenges and opportunities in the emergence of Decentralized Finance. This work provides a comprehensive overview of the fundamental principles that underpin Blockchain technologies, such as system architectures and distributed consensus algorithms. Next, we focus on possible Blockchain solutions for the financial sector by discussing their challenges and opportunities.
Ambara Purusottama, Togar M. Simatupang, Yos Sunitiyoso
Purpose A blockchain (BC) is a breakthrough technological invention that comprises entirely different mental models than conventional technology. This fundamental difference can potentially change the systems of many organizations since the current systems are built upon a centralized paradigm. The adoption of BC brings various benefits to an organization which can initiate changes to a business model (BM). However, the contribution of BC for business model innovation (BMI) is challenging to identify. Therefore, this study aims to understand and describe the adoption of BC for developing BMI. Design/methodology/approach This study presents a model that describes the adoption of BC for developing BMI. To justify the model, this study used an empirical approach based on multiple case study through a rigorous process. The case study selection process referred to the products or services that adopt BC to deliver to their customers and monetize their businesses, which resulted in six cases in different areas. Meanwhile, the data collection applied semi-structured interviews and adequate secondary data. The data/information was analyzed using a value proposition, creation, and capture framework. Findings The findings identify the adoption of BC in BMIs generated through value creation as a new technological sub-element. This technological adoption evidently affects value proposition and value capture in a different mode. Furthermore, through the model, this study classifies the adoption of BC in BMI based on two dimensions: (1) the level of complexity of BC adoption and (2) the intensity of BMI. The findings show that the cases in this study are dispersed among all quadrants of the conceptual model. Originality/value This study can serve as an antecedent for stakeholders in the innovation of BC-based BMs and their implementation patterns. Simultaneously, this study sheds light on the body of knowledge about BC adoption for developing BMI through a validated model from selected cases and technical experts. This study also describes the BC-based activity systems that provide the contributions and benefits from the technology.
Tooba Faisal, José Antonio Ordóñez Lucena, Diego López, Chonggang Wang · 5 authors
With the growing demand for network connectivity and diversity of network applications, one primary challenge that network service providers are facing is managing the commitments for Service Level Agreements (SLAs). Service providers typically monitor SLAs for management tasks such as improving their service quality, customer billing and future network planning. Network service customers, on their side, monitor services provided to them, to optimize their network usage and apply, when required, penalties related to service failures. In future 6G networks, critical network applications such as remote surgery and connected vehicles will require these SLAs to be more dynamic, flexible, and automated to match their diverse requirements on network services. Moreover, these SLAs should be transparent to all stakeholders to address the trustworthiness on network services and service providers required by critical applications. Currently, there is no standardized method to immutably record and audit SLAs, leading to challenges in aspects such as SLA enforcement and accountability - traits essential for future network applications. This work explores new requirements for future service contracts, that is, on the evolution of SLAs. Based on those new requirements, we propose an end to end layered SLA architecture leveraging Distributed Ledger Technology (DLT) and smart contracts. Our architecture is inheritable by an existing telco-application layered architectural frameworks to support future SLAs. We also discuss some limitations of DLT and smart contracts and provide several directions of future studies.
Paolo Bottoni, Claudio Di Ciccio, Remo Pareschi, Nicola Gessa · 5 authors
Smart contracts show a high potential for ensuring that Supply Chain Management strategies make a qualitative leap toward higher levels of optimality, not only in terms of efficiency and profitability but also in the aggregation of skills aimed at creating the best products and services to bring to the market. In this article, we illustrate an architecture that employs smart contracts to implement various algorithmic versions of the Income Sharing principle between companies participating in a supply chain. We implement our approach on Hyperledger Fabric, the most widespread platform for private and consortium distributed ledgers, and discuss its suitability to our purposes by comparing this design choice with the alternative given by public blockchains, with particular attention to Ethereum.
Stuti Saxena, Deo Shao, Anastasija Nikiforova, Richa Thapliyal
Purpose This paper aims to provide insights into the integration of blockchain technology in e-government services. Design/methodology/approach The article invokes an exploratory approach to emphasize the possibilities of integrating blockchain technology in e-government services. A cybernetic model is detailed in the paper for bridging the gulf between blockchain and e-government. Findings The integration of blockchain technology in e-government services is capable of enhancing the efficiency and effectiveness of service delivery. Furthermore, this integration would facilitate in maintaining the privacy of the online transactions. Originality/value Hitherto, studies have focused on the blockchain technology in many sectors; however, the integration and utility of blockchain technology for the government sector have remained unexplored. The current study seeks to fill this gap.
As once said by former Deputy Director-General of the European Commission, Carles Esteva Mosso, a merger remedy is ‘an artificial intervention in the economy that could go wrong and does go wrong’ at times.1 Although a large part of the recent European competition law enforcement was focused on the tech industry, the authority has not used innovative technology in its merger interventions. But what if technology was the missing piece to improve merger remedies’ results in several sectors such as energy, telecom, and technology itself? In order to bridge this gap, this paper will explore the combination of two contrasting materials: blockchain and merger control. The purpose of this paper is to investigate whether there is a potential use case of blockchain in merger access remedies design and implementation.2 Ultimately, it intends to contribute to the computational antitrust research agenda, by virtue of exploring how blockchain technology can aid better enforcement and management of merger policy.3
Decentralized Finance (DeFi) is a nascent set of financial services, using tokens, smart contracts, and blockchain technology as financial instruments. We investigate four possible drivers of DeFi returns: exposure to cryptocurrency market, the network effect, the investor's attention, and the valuation ratio. As DeFi tokens are distinct from classical cryptocurrencies, we design a new dedicated market index, denoted DeFiX. First, we show that DeFi tokens returns are driven by the investor's attention on technical terms such as "decentralized finance" or "DeFi", and are exposed to their own network variables and cryptocurrency market. We construct a valuation ratio for the DeFi market by dividing the Total Value Locked (TVL) by the Market Capitalization (MC). Our findings do not support the TVL/MC predictive power assumption. Overall, our empirical study shows that the impact of the cryptocurrency market on DeFi returns is stronger than any other considered driver and provides superior explanatory power.
Justin Sunny, V. Madhusudanan Pillai, Hiran V. Nath, Kenil Shah · 7 authors
Purpose This paper aims to introduce, conceptualize and demonstrate a software tool named “Blockchain-Enabled Beer Game” (BEBG) for familiarizing the application of blockchain in inventory management, one of the critical components of supply chain management. Design/methodology/approach This paper follows a methodology of design-based research and develops a software tool in the form of a role-play simulation game. The proposed game adopts the theme of the traditional beer distribution game to establish a blockchain-enabled scenario for inventory management. A decentralized application (DApp) was prototyped on the Ethereum blockchain to demonstrate the tool. Findings The proposed software tool is effective in teaching and training the application of blockchain in inventory management. While interacting with BEBG, players witness how each inventory-related transaction gets secured with blockchain. A basic understanding of the fundamentals of blockchain is a prerequisite for using this tool. BEBG is not self-explanatory, and an instructor is essential for assisting the players. Originality/value Software tools currently available to familiarize with blockchain technology cannot convey its practical applications. Addressing this gap, BEBG allows the users to experience the application of blockchain in inventory management. Academic institutions, especially business schools, can use this tool to teach the students the practical use of blockchain technology. Industries can adopt BEBG for training the employees. The research community can devise BEBG to infer the impact of blockchain in supply chain management.
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\n\ncoinbase pro tech ☎️1806-318-0965☎️ support number,coinbase pro support number, coinbase pro phone number, coinbase pro helpline number,coinbase pro customer support number At Coinbase, we’re focused on offering more ways for customers to earn crypto rewards. Today, we’re expanding our staking offerings to include Cardano (ADA) with plans to continue to scale our staking portfolio in 2022.Cardano is one of the top ten most valuable cryptocurrencies by market cap. It’s a proof-of-stake blockchain designed to be a next-gen evolution of Ethereum — with a blockchain that seeks to be more flexible, sustainable, and scalable. Cardano aims to enable smart contracts to allow developers to build a wide range of decentralized finance (DeFi) apps, new crypto tokens, games, and more. When users stake their crypto, they make the underlying blockchain of that asset more secure and more efficient. And in exchange, they are rewarded with additional assets from the network, which are paid out as rewards. While it has been possible for individuals to stake Cardano on their own, or via a delegated staking service, the process can be confusing and complicated. With today’s launch, Coinbase is offering an easy, secure way for any retail user to actively participate in the Cardano network and earn rewards.
The main purpose of this paper is to set a model in which there exist multiple firms producing data in a situation where each firm produces data and shares it voluntarily for new additional revenue. The model is used for theoretical examination of the revenue distribution rule and behaviors to maximize the social welfare. Consequently, the following three main results can be obtained. First, if the number of firms is sufficiently large and some conditions are assumed, the revenue distribution rule to maximize social welfare in a decentralized economy coincides with the elasticity of additional revenue with respect to the provided data. Second, if each firm maximizes profit in the decentralized economy, the firm can achieve allocations to maximize social welfare in a command optimum for any revenue distribution rule as long as the government provides the policy of lump-sum tax and subsidy appropriately. Third, if the subsidy for data sharing is financed by a flat rate tax for additional profit, each firm has an incentive to participate in the platform irrespective of the subsidy rate and revenue distribution rule.
Decentralized Autonomous Organization (DAO) is very popular in Decentralized Finance (DeFi) applications as it provides a decentralized governance solution through blockchain. We analyze the governance characteristics in the Maker protocol, its stablecoin DAI and governance token Maker (MKR). To achieve that, we establish several measurements of centralized governance. Our empirical analysis investigates the effect of centralized governance over a series of factors related to MKR and DAI, such as financial, transaction, network and twitter sentiment indicators. Our results show that governance centralization influences both the Maker protocol, and the distribution of voting power matters. The main implication of this study is that centralized governance in MakerDAO very much exists, while DeFi investors face a trade-off between decentralization and performance of a DeFi protocol. This further contributes to the contemporary debate on whether DeFi can be truly decentralized. centralized governance in MakerDAO very much exists, while DeFi investors face a trade-off between efficiency and decentralization. This further contributes to the contemporary debate on whether DeFi can be truly decentralized.
Zhou Liao, Shuwei Song, Hang Zhu, Xiapu Luo · 10 authors
Being the most popular programming language for developing Ethereum smart contracts, Solidity allows using inline assembly to gain fine-grained control. Although many empirical studies on smart contracts have been conducted, to the best of our knowledge, none has examined inline assembly in smart contracts. To fill the gap, in this paper, we conduct the first large-scale empirical study of inline assembly on more than 7.6 million open-source Ethereum smart contracts from three aspects, namely, source code, bytecode, and transactions after designing new approaches to tackle several technical challenges. Through a thorough quantitative and qualitative analysis of the collected data, we obtain many new observations and insights. Moreover, by conducting a questionnaire survey on using inline assembly in smart contracts, we draw new insights from the valuable feedback. This work sheds light on the development of smart contracts as well as the evolution of Solidity and its compilers.
Amaç –Bu çalışmanın amacı; kripto para seçimine etki eden faktörlerin ortaya çıkartılması hususunda subjektif değerlendirmelerin objektif ağırlıklandırmalar yoluyla tespit edilmesidir.Yöntem -Çalışmada, Analitik Hiyerarşi Prosesi (AHP) çok ölçütlü karar vermetekniği kullanılmıştır. Kriptoloji ve kripto para alanında uzman ekipten oluşan yedi kişilik bir değerlendirme ekibi kriter ve alt kriterleri, ikili karşılaştırmalar yoluyla değerlendirmiştir. Buradan yola çıkarak, bu değerlendirmeler, Analitik Hiyerarşi Prosesi ile global ağırlık vektörlerine dönüştürülmüştür.Bulgular -Analiz sonuçlarına göre, işletmelerin kripto para yatırımı yapan bireysel portföy yöneticilerinin kripto para seçimini etkileyen kriterlerde en yüksek skora sahip olanlar “Teknolojik Merak”, “Kişinin Parası Üzerindeki Kontrol Gücü” ve “Veri ve İşlem Gizliliği” olarak belirlenmiştir. Bunun yanında, en düşük skora sahip kriterler ise “Sistem Üzerinde Kontrol Gücü”, “Coin Üreticisi” ve “Kimlik Bilgisi Gizliliği”, olarak tespit edilmiştir.Tartışma: Bu çalışmada, kripto para yatırımı yapan bireysel portföy yöneticilerinin kripto para seçimini etkileyen kriterlerin ağırlıklandırılması ve en önemli kriterin belirlenmesi amacıyla çok kriterli karar verme yöntemlerinden biri olan Analitik HiyerarşiProsesi (AHP) yöntemi ile analizler gerçekleştirilmiştir. AHP ile gerçekleştirilen analizde kripto para yatırımı yapan bireysel portföy yöneticilerinin kripto para seçimini etkileyen kriterler tespit edilmiş olup bu kriterlerin önem sıralaması yapılarak elde edilen sonuçlar tartışılmıştır.
Purpose Today, business model innovations leverage digital technologies to gain a competitive advantage and transform business processes. Blockchain is still gaining attention in specific fields and bringing value to business models. There is a dearth of research on how blockchain decentralized autonomous organizations impact organization business model innovations. This study attempts to contribute the body of knowledge based on a review of decentralized autonomous organizations and the business model innovation literature using the integrative and generative approach. Design/methodology/approach The paper offers an analysis of decentralized autonomous organizations based on digital business models built on the well-established work by Osterwalder and Pigneur (2010). The practical multilayered decentralized autonomous organizations architectural implementation model design is achieved using practical archetypes depicted in the proposed decentralized autonomous organizations business model. The paper evaluates a marketplace comprising 13 decentralized autonomous organizations led platforms with core functionalities. Findings The paper delivers decentralized autonomous organizations led digital business model canvas elements to explain decentralized autonomous organization business model innovations. It presents the underlying multilayered decentralized autonomous organizations architectural implementation model required to conceptualize a practical business model with an enterprise-ready target operating model. Research limitations/implications The paper contributes directly to the practical decentralized autonomous organizations business model canvas, exemplifying the nine elements of decentralized autonomous organizations’ characteristics for any organizational transformation. The tools and accelerators (business model, layered architecture, target operating model and product mapping) developed in the paper address the managerial challenges of redesigning the decentralized business models. Originality/value The proposed decentralized autonomous organizations smart contract powered business model provide a digital platform to adhere to rules, follow policies, preserve principles and develop consensus without human interventions. The paper shapes the first of its kind decentralized autonomous organizations marketplace evaluation while mapping it to decentralized autonomous organizations layered architecture product requirement considering business model dimension to adopt actionable target operating model.
Access to some form of money is essential to participate in the economy, but money today takes a wide range of forms from traditional cash to cryptocurrencies. Although cash still represents the payment of choice for the majority of transactions globally, the importance of alternative payment platforms is growing, particularly peerto- peer ‘payments’. The new kid on the block is cryptocurrency, and the jury is still out on whether it will disrupt the sector. Researchers and policymakers are interested in what drives the choices consumers make between the payment platforms available to them, with technology being a key driver on the supply side, and demographic factors and personal preferences on the demand side. Understanding these drivers can assist in encouraging behavioral changes, for example where a payment method is being removed. Policymakers are also interested in issues such as cybersecurity, given the increasing use of electronic payment options, and encouraging competition, via open banking and management of network effects. Considerable ongoing research on payments means researchers and policymakers have access to a range of data. It is unlikely that cash will disappear any time soon, but the development of new payment platforms continues to offer additional options for consumers while providing new avenues of research.
The proliferation of cryptocurrencies and the remarkable expansion of novel economic practices associated with them pose an unprecedented challenge to established norms of taxation and market regulation. Drawing on two years of fieldwork, surveys, as well as big data analysis of the most valuable 100 cryptocurrencies’ white papers and the terms of service agreements of all cryptocurrency exchange platforms, this paper proposes an evidence-based framework to design a novel regulation and taxation approach to cryptocurrencies and their markets by using the US as case study. This new framework calls for approaching cryptocurrencies as data money. Drawing on the material political economy of new digital financial practices, the paper locates the universe of taxable events and invisible/vague regulation areas by approaching exchange platforms as stacked economization processes. We need to make sense of these new economic spaces in order to imagine more effective regulative instruments addressing questions of economic actor protection and efficiency. The paper concludes by proposing a new instrument of taxation (Data Money Tax) and a dynamic regulative approach to cryptocurrency exchange platforms (Stack Regulation).
Sunil Erevelles, Kriti Bordia, Brian Whelan, Julia R. Canter · 5 authors
Purpose The blockchain represents a seminal paradigm shift, likely to radically transform business in the future. While the paradigm associated with the World Wide Web and Big Data is focused on the “sharing of information,” the paradigm associated with blockchain is focused on the “sharing of assets.” Intellectual assets are among the most valuable of assets, and customer co-creation is a key approach for creating new value for firms. This paper aims to draw on blockchain-centric logic to develop an initial theoretical framework, with managerial recommendations, for the use of blockchain in customer co-creation. Design/methodology/approach Building upon established indigenous theory development and inductive realist approaches, the authors develop an original two-step methodology to create the initial theoretical framework. This methodology, involving foundational premises and propositions, is ideal for relatively new areas of research and is well suited to serve as a relatively faster catalyst for future research. Findings Despite the substantial potential impact of blockchain in innovation, no theoretical foundation for blockchain in customer co-creation exists. To fill this gap, the authors present an initial theoretical framework, using blockchain-centric logic in customer co-creation. The proposed theoretical framework highlights how key prerequisites in customer co-creation, including trust, security, transparency, identity and immutability, can be enhanced with blockchain-centric logic. Originality/value It is hoped that the initial theoretical framework, based on blockchain-centric logic, can contribute to future academic research on blockchain in customer co-creation and help practitioners better exploit the blockchain in co-creation. Directions for future research, the larger agenda for this paper, are presented in the conclusion.
Blockchain technology has been used to build next-generation applications taking advantage of its decentralised nature. Nevertheless, there are some serious concerns about the trustworthiness of blockchain due to the vulnerabilities in on-chain algorithmic mechanisms, and tedious disputes and debates in off-chain communities. Accordingly, blockchain governance has received great attention for improving the trustworthiness of all decisions that direct a blockchain platform. However, there is a lack of systematic knowledge to guide practitioners to perform blockchain governance. We have performed a systematic literature review to understand the state-of-the-art of blockchain governance. We identify the lifecycle stages of a blockchain platform, and present 14 architectural patterns for blockchain governance in this study. This pattern language can provide guidance for the effective use of patterns for blockchain governance in practice, and support the architecture design of governance-driven blockchain systems.
The emergence of smart contracts in blockchain environments allows for a wide spectrum of transaction oriented trusted applications to be developed. The majority of smart contracts are implemented as scripts written in specialized machine interpretable languages such as Solidity. However recent efforts allow for more general purpose languages such as GoLang and JavaScript to be used. It is therefore evident, that smart contract applications will quickly become more complex, and an interesting question that arises is how we can ensure that the smart contract code achieves and complies with the required goals and policies set by the system's stakeholders. In this short paper we outline a model-based approach for the automatic generation and deployment of smart contract code by using extended goal models to capture the tasks and policies set by various stakeholders, and by applying a code generator to produce Solidity code that corresponds to the model.
Сегодня, в условиях активного развития цифровой экономики изменяется формат всех видов общественной деятельности, и коммерческий сектор не является исключением. Особенно актуальными становятся вопросы обработки, передачи и защиты цифровой информации, а также использование новых коммуникационных технологий в предпринимательских структурах. В настоящей статье автор исследует целесообразность использования смарт-контрактов во взаиморасчетах между участниками бизнес среды, а также особенности автоматизации данного процесса. Целью работы является оценка перспектив указанного механизма расчетов на основе смарт-контрактов в блокчейн-системе. На основании проведенного анализа автором делается вывод о том, что в настоящее время для автоматизации исполнения финансовых обязательств между организациями посредством смарт-контрактов есть все условия с технической точки зрения, однако существует ряд значимых для процесса сложностей и ограничений в правовом и организационном аспектах. Today, in the era of the digital economy, the format of all types of social activities is changing, and there is no exception for the commercials. The issues of processing digital information, its transmission andprotection, as well as using the new communication technologies in business structures, are becoming especiallyrelevant. In this article the author examines the expediency of using smart contracts for payments between business partners and researches the features of automating this process. The aim of the work is to determine theprospects of the business processes based on smart contracts in the blockchain system. Based on the analysis,the author concludes that the automation of payments through smart contracts from a technical point of view isreal, however, there are many complexities and restrictions that are significant for the process in legal and organizational aspects.