Follow blockchain research across journals, conferences, and preprint repositories.
1,898 results · page 58 of 80
Kwok Ping Tsang, Zichao Yang
No abstract is available for this record.
Daniele De Wrachien
Technological infrastructures based on distributed ledger technologies (DLTs) like blockchain technology (BCT) are new digital technologies combining peer-to peer networking and cryptography to create immutable public ledgers characterized by decentralization, collective maintenance, consensus trust and reliable data. DLT, today considered as an interdisciplinary topic, is expected to transform current economic organization and governance, and can be considered one of the evolutionary next steps for agriculture, particularly for current state-of-the-art of precision agriculture.
Dookie Cynthia
In 2008, bitcoin disrupted the transactional ecosystem with its value propositions. However, sustaining autonomous, deregulated systems in markets filled with laws and regulations has had its challenges. There are also open questions of scalability, resilience, availability, speed and finality of transactions. Sound technical components have emerged but we need to take this one step further and integrate the units to provide an accepted packaged solution. Using a game application as an entry point, we propose a simple, inclusive asset transfer system which will stimulate adoption and create traction in the distributed ledger universe.
Niclas Kannengießer, Sebastian Lins, Ali Sunyaev
Distributed ledger technology (DLT) is an emerging technology, which allows for the creation of novel applications, services, and business models by enabling innovative collaborations among organizations and individuals. Although DLT arose from the idea of a self-regulated and publicly usable infrastructure, permissioned distributed ledgers (e.g., Hyperledger Fabric) are organizations’ predominant choice for the design and use of DLT applications due to their higher confidentiality-preservation, better maintainability, and higher throughput compared to permissionless distributed ledgers. Nevertheless, the use of permissioned distributed ledgers holds new uncertainties for organizations and their collaboration. In this work, we aim to lay the foundation to overcome such uncertainties by, first, conceptualizing the actors in permissioned distributed ledgers and, second, identifying the uncertainties between these actors regarding certain characteristics of distributed ledgers. We contribute to practice and research by providing detailed information on the causes, manifestations and consequences of prevalent uncertainties, and by deriving a multi-actor uncertainty conceptualization that disentangles hierarchical relations and interdependencies between actors. In this study, we form the foundation for future research and practice to mitigate these uncertainties and foster DLT diffusion.
Anil Savio Kavuri, Alistair Milne
This paper is an examination of adoption of distributed ledgers in financial services. We review more than one hundred initiatives and a large practitioner literature, considering fourteen areas of application and seven case studies, in order to provide both a conceptual analysis of these technologies and to review their current and prospective adoption in financial services. There are several component technologies applied in distributed ledger, many offering substantial commercial and operational benefits even applied outside of a distributed ledger and best viewed as part of the broader picture of ongoing digitalization of financial services using various data technologies. Our findings suggest that decision makers can take a pragmatic approach to distributed ledgers, not be concerned about this technology upending their business but be open to cross industry co-operation where this is strategically justified and to then adopt what works to improve outcomes for customers and other stakeholders. Overall, distributed ledgers and crypto assets, are really a distraction from the wider and more important issues of ongoing digitisation and automation of financial services. Data sharing and cross industry co-operation – as well as well as enlightened public policy to promote adoption of new technologies, competition and prudential and systemic safety – are crucial to this digital revolution. This does not depend on widespread adoption of distributed ledgers.
Daniel Noll, Rainer Alt
No abstract is available for this record.
Johannes Rude Jensen, Omri Ross
We document ongoing research on a digital artefact comprising a settlement layer for financial contracts traded over the counter (OTC). Working with a team of stakeholders from a hosting organization we employ the design science research methodology (DSR) in the design, implementation and evaluation of a DLT based settlement layer for OTC contracts. Our findings indicate that DLT may serve towards reducing execution costs while mitigating counterparty credit risk through deterministic automation of key processes in the OTC contract lifecycle. Extrapolating these early results, we introduce three general propositions on the systemic and commercial implications of DLT. We contribute to the broader IS discourse on the capacity for emerging digital technologies to upend traditional knowledge processes in the financial services.
Arshdeep Bahga, Vijay K. Madisetti
We present Value Token Transfer Protocol (VTTP), a decentralized finance protocol for exchange of value or tokens within and between participating blockchain networks, fiat bank accounts and fiat wallets. The protocol allows intra-chain or inter-chain transfers of cryptocurrencies or tokens. VTTP works in both client-server and peer-to-peer models. The protocol comprises receiving from a client a transfer request to transfer value in a form of a cryptocurrency or a token, determining if the transfer request is intra-chain or inter-chain, transmitting to the client a response to the transfer request, the response comprising a raw transaction, receiving from the client a response to the raw transaction wherein a private key of a user is used to sign the raw transaction, defining a signed transaction, verifying a signature of the signed transaction and broadcasting the signed transaction to the sending and receiving blockchain networks.
Emanuel Palm, Ulf Bodin, Olov Schelén
The rise of distributed ledger technologies, such as R3 Corda, Hyperledger Fabric and Ethereum, has lead to a surge of interest in digitalizing different forms of contractual cooperation. By allowing for ledgers of collaboration-critical data to be reliably maintained between stakeholders without intermediaries, these solutions might enable unprecedented degrees of automation across organizational boundaries, which could have major implications for supply chain integration, medical journal sharing and many other use cases. However, these technologies tend to break with prevailing business practices by relying on code-as-contracts and distributed consensus algorithms, which can impose disruptive requirements on contract language, cooperation governance and interaction privacy. In this paper, we show how our Exchange Network architecture could be applied to avoid these disruptors. To be able to reason about the adequacy of our architecture, we present six requirements for effective contractual collaboration, which notably includes negotiable terms and effective adjudication. After outlining the architecture and our implementation of it, we describe how the latter meets our requirements by facilitating (1) negotiation, (2) user registries, (3) ownership ledgers and (4) definition sharing, as well as by only replicating ledgers between stakeholder pairs. To show how our approach compares to other solutions, we also consider how Corda, Fabric and Ethereum meet our requirements. We conclude that digital negotiation and ownership could replace many proposed uses of code-as-contracts for better compatibility with current contractual practices, as well as noting that distributed consensus algorithms are not mandatory for digital cooperation.
Niclas Kannengießer, Michelle Pfister, Malte Greulich, Sebastian Lins · 5 authors
Since the emergence of blockchain in 2008, today, we see a kaleidoscopic variety of applications built on distributed ledger technology (DLT), including applications for financial services, healthcare, or the Internet of Things. Yet, each application comes with specific requirements for DLT characteristics (e.g., high throughput, scalability). However, trade-offs between DLT characteristics restrict the development of a DLT design (e.g., Ethereum, IOTA) that fits all use cases’ requirements simultaneously. Consequently, separated DLT designs emerged, each specialized to suite dedicated application requirements. To enable the development of more powerful applications on DLT, such DLT islands must be bridged. However, knowledge on cross-chain technology (CCT) is scattered across scientific and practical sources. Therefore, we examine this diverse body of knowledge and provide comprehensive insights into CCT by synthesizing underlying characteristics, evolving patterns, and use cases. Our findings resolve existing contradictions in the literature and provide avenues for future research in an emerging scientific field.
Harsh Singh Chauhan, Jagjeet Jena
The term decentralized finance (DeFi) refers to an alternative financial infrastructure built on top of the Ethereum blockchain. DeFi uses smart contracts to create protocols that replicate existing financial services in a more open, interoperable, and transparent way. This article highlights opportunities and potential risks of the DeFi ecosystem. I propose a multi-layered framework to analyze the implicit architecture and the various DeFi building blocks, including token standards, decentralized exchanges, decentralized debt markets, blockchain derivatives, and on-chain asset management protocols.
Mohammed Khaled Mustafa, Sajjad Waheed
The electronic tendering process is rapidly growing popularity among private and public sectors for its efficiency and convenience. An end to end fair and transparent tendering process is desirable for all stakeholders and the proper business environment. Researchers and business entities are continuously working to improve its quality. In general, while offering a tender, an enterprise usually maintains the following steps [1].
Zoltán Bán, Jan Lánský, Stanislava Mildeová, Petr Tesar
Cryptocurrencies have become a major phenomenon in recent years. For IT, a breakthrough is both the cryptocurrency itself as a commodity and the technology that cryptocurrency development has brought. The article focuses on the bitcoin cryptocurrency as the most important cryptocurrency. A relatively unexplored topic is what goods or services are purchased for bitcoins. To track what bitcoins are spent on, it is necessary to look for places that are dedicated to trading cryptocurrencies. The bitcointalk.org forum was chosen as a source for our data mining. The aim of the article is to find an answer to the research question: What are bitcoins on the discussion forum bitcointalk.org planned to be spent on? As part of the research, an application was developed using a PHP script to gather information from the discussion forum (bitcointalk.org). There is some evidence which suggests what types of products or services people spend cryptocurrencies on. This research has proven that cryptocurrencies are used to buy and sell goods or services in the electronics and computer world segments. Today, these segments are widespread, which may speed up the integration of cryptocurrencies into everyday life. This applies, of course, only if the risks associated with cryptocurrencies do not increase.
Gildércia Silva Guedes de Araújo, Katyusco de Farias Santos
Este artigo trata de busca de anterioridade e análise quantitativa sobre a evolução do tema smart contracts, usando o depósito de patentes como principal indicador tecnológico. Para o levantamento dos dados utilizaram-se as plataformas Questel Orbit®, Lens e Patent Inspiration, aplicando como entrada as palavras-chaves “smart contract” ou “smart contracts” para as buscas nos títulos e nas reivindicações. Foram realizadas análises Macro e Meso, com o objetivo de identificar os indicadores quantitativos das patentes relacionadas aos smart contracts. As investigações foram realizadas até abril de 2019 e trouxeram o quantitativo de 968 invenções de patente pelo Questel Orbit®, um resultado de 1.935 depósitos de patentes pelo Lens e 660 depósitos pelo Patent Inspiration. Em todas as plataformas, houve uma predominância de depósitos realizados pelo setor privado (Empresas) e a área de maior relevância, quanto ao domínio tecnológico dos smarts contracts é o modelo de gestão, representando 49% das patentes verificadas.
Jörg Weking, Michael Mandalenakis, Andreas Hein, Sebastian Hermes · 6 authors
Abstract Blockchain technology enables new ways of organizing economic activities, reduces costs and time associated with intermediaries, and strengthens the trust in an ecosystem of actors. The impact of this seminal technology is reflected by an upcoming research stream and various firms that examine the potential uses of blockchain technology. While there are promising use cases of this new technology, research and practice are still in their infancy about altering existing and creating new business models. We develop a taxonomy of blockchain business models based on 99 blockchain ventures to explore the impact of blockchain technology on business models. As a result, we identify five archetypal patterns, which enhance our understanding of how blockchain technology affects existing and creates new business models. We propose to use these results to discover further patterns fueled by blockchain technology and illustrate how firms can use blockchain technology to innovate their business models.
Bart Custers, Lara Julia Overwater
Initial Coin Offerings (ICOs) and cryptocurrencies are applications of blockchain technology that offer many benefits.ICOs are increasingly used by companies for crowdfunding, allowing startups to find investors.Cryptocurrencies allow cheap, fast and straightforward international money transfers.However, along with such benefits also come risks, like volatility of cryptocurrency rates, abuse by (cyber)criminals, and other risks and uncertainties for investors.Governments across the globe are struggling with the question whether and how to regulate cryptocurrencies and ICOs.The technologies and applications are similar in different jurisdictions, but the responses of legislators, regulators and supervisory authorities widely differ.In this article, we investigate the regulatory responses to cryptocurrencies and ICOs in nine jurisdictions worldwide.The aim of investigating different approaches towards regulating cryptocurrencies and ICOs is to identify different approaches, to make a comparison between jurisdictions, and to identify potential good or best practices.The nine jurisdictions that are compared in this paper are Australia, Belgium, China, Estonia, Japan, Switzerland, The Netherlands, the United States, and the European Union. of cybercrime.Moreover, it should provide some sort of consumer/investor protection and clarity when it comes to tax liability.A legislative and regulatory framework that provides all these aspects will prevent abuse and may enable governments to intervene when issues occur.
Roben Castagna Lunardi, Henry Cabral Nunes, Vinicius da Silva Branco, Bruno Lippert · 6 authors
Blockchain emerged as a solution for data integrity, non-repudiation, and availability in different applications, such as in the industry sector. Data sensitive scenarios, such as health care, can also benefit from these blockchain properties. Consequently, different research proposed the adoption of blockchain in health care applications. However, few is discussed about incentive methods to attract […]
Hussam Juma
No abstract is available for this record.
J. D. Preece, John M. Easton
This paper introduces a novel digital ticketing platform using blockchain technology. Taking in a number of considerations by observing legacy ticketing systems and existing attempts at digital ticketing, we make use of IBM's Hyperledger Fabric framework to design an architecture that distributes the tickets across all participating organisations. We note the potential benefits this platform has. Governing organisations maintain their right to set the rules of the platform and access the data to generate statistics. Vending organisations share access to the same underlying tickets whilst preserving competition. The platform offers passengers a variety of ways to pay for and access their tickets, using a combination of legacy and modern methods. Furthermore, we note the platform has the potential to eradicate paper ticketing and surplus voucher cards.
Anne Veerpalu
Abstract Since the emergence of cyberspace there have been different legal principles evolving, such as functional equivalence and technology-neutrality, with the aim to ease the regulator´s challenge of coping with the new paradigm of virtual, digital and electronic. Currently our societies have reached the doorstep of another similar disruption: infrastructures decentralized on the basis of blockchain and distributed ledger technology, or so-called cryptoeconomics. It is time to turn to cyberspace-related principles for inspiration on how to solve similar concerns, such as applying existing regulation(s) to new technological disruption. This article looks at different understandings of the functional equivalence principle, its shortcomings and the guidance it provides to regulators and courts in dealing with the challenges related to technological innovation including that of cryptoeconomics.
Bert-Jan Butijn, Willem‐Jan van den Heuvel, Indika Kumara
This chapter focuses on smart contract-driven business transactions and processes. Business processes that span organization boundaries pose a number of significant business and system level challenges. Once the legal contracts between the trading partners are established, those should be monitored, enforced, and managed. The contracts generally express the rights and obligations of the contract parties to each other, and also outlines the guidelines for handling contract violations, and the conditions of commencement, continuation, and termination of the contract. The choreography model can be used to execute the process, where the deployed smart contracts act as the trusted coordinator. Multiple business partners bound by legal contracts collaborate to realize these business processes, forming a business network. Business collaborations among untrusted parties require incorporating transparency and accountability into the relevant business processes. The supply chain business processes are often carried out as a set of multi-step business transactions.
Bert-Jan Butijn, Damian A. Tamburri, Willem‐Jan van den Heuvel
Blockchain technology has gained tremendous popularity both in practice and academia. The goal of this article is to develop a coherent overview of the state of the art in blockchain technology, using a systematic(i.e.,protocol-based, replicable), multivocal (i.e., featuring both white and grey literature alike) literature review, to (1) define blockchain technology (2) elaborate on its architecture options and (3) trade-offs, as well as understanding (4) the current applications and challenges, as evident from the state of the art. We derive a systematic definition of blockchain technology, based on a formal concept analysis. Further on, we flesh out an overview of blockchain technology elaborated by means of Grounded-Theory.
Nicolas Gensollen, Matthieu Latapy
Abstract We study the interplay between social ties and financial transactions made through a recent cryptocurrency called $\breve {G}1$ <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML"><mml:mi>Ğ</mml:mi><mml:mn>1</mml:mn></mml:math> . It has the particularity of combining the usual transaction record with a reliable network of identified users. This gives the opportunity to observe exactly who sent money to whom over a social network. This social network is a key piece of this cryptocurrency, which therefore puts much effort in ensuring that nodes correspond to unique, well identified, real living human users, linked together only if they met at least once in real world. Using this data, we study how social ties impact the structure of transactions and conversely. We show that users make transactions almost exclusively with people they are connected with in the social network. Instead, they tend to build social connections with people they will never make transactions with.
Élise Alfieri
Cryptomonnaies et efficience des marchés Les innovations apportées par les cryptomonnaies et leur technologie sous-jacente, la blockchain, ouvrent de nouvelles voies de recherches en finance. Cette thèse de doctorat est composée de trois essais portant sur les cryptomonnaies et est centrée autour de la notion d’efficience informationnelle des marchés. La première étude vise à expliquer comment la blockchain, développée au sein de communautés informelles, est adoptée et intégrée par les organisations. Cette étude apporte un cadre théorique à la technologie blockchain, cadre qui s’appuie sur les approches contractuelle et cognitive de la théorie des organisations. Grâce à une revue de la littérature illustrée, une analyse à deux dimensions présente les possibles utilisations de la blockchain fondées sur l’accès à l’information pour les participants. L’objectif de la seconde étude est double. Premièrement, elle soulève la problématique de la réelle nature du Bitcoin. Après avoir comparé le Bitcoin aux monnaies, à l’or et aux actions, nous basons notre analyse sur l’hypothèse que les cryptomonnaies peuvent être assimilées aux actions. Deuxièmement, la performance financière (la rentabilité ajustée au risque) du Bitcoin est mesurée en utilisant des modèles traditionnels tels que le MEDAF et le model de Fama-French à trois facteurs. Nous trouvons que l’intégration du Bitcoin dans un portefeuille améliore considérablement sa diversification, tout en apportant des rentabilités ajustées au risque positives et significatives dans le monde, l’Europe et l’Asie-Pacifique. La forte volatilité du Bitcoin ainsi que sa haute performance nous conduisent à analyser le caractère de bulle spéculative des cryptomonnaies, ce qui est l'objet de la troisième étude. Nous analysons cet aspect en utilisant le modèle PSY de Phillips and Shi, 2018. Deuxièmement, nous analysons le plus important pic/éclatement du marché des cryptomonnaies à la fin des années 2017 à l’aide du modèle LPPL (Log Periodic Power Law). Les résultats suggèrent des périodes de bulles avec effet de contagion entre les cryptomonnaies. Les analyses théoriques et empiriques de cette thèse contribuent à la littérature académique sur les cryptomonnaies. Nos résultats sont également importants pour les entreprises et pour les investisseurs qui s’intéressent au potentiel des cryptomonnaies et de la blockchain, ainsi que pour les décideurs politiques responsables de leur régulation.