Follow blockchain research across journals, conferences, and preprint repositories.
1,615 results · page 59 of 68
Bronwyn Howell, Petrus H. Potgieter, Bert M. Sadowski
No abstract is available for this record.
Joshua Ehrenfeld, Ryan Gallagher, Matthew Lyon, Thomas Potter · 6 authors
No abstract is available for this record.
Allison M. Lovell
No abstract is available for this record.
Rui Roriz, José Luís Pereira
Blockchain is a relatively new technology originally created to store Bitcoin’s transaction records. The system is highly redundant and distributed, making it very difficult for fraudulent financial transactions. While cryptocurrencies might be the most well-known use case of blockchain technology, it is wrong to assume that this technology is restricted to the financial area. Indeed, many blockchain use cases are being developed today in different areas. Due to the complexity of certain processes, a new technology associated to blockchain has appeared – smart contracts. These digital contracts act like traditional contracts, with the major difference being their automaticity. In this article, we aim to discuss how blockchain and smart contracts may be used together in order to improve organizational operations. More specifically, we demonstrate how these technologies might be used to develop a solution that avoids certain types of fraud in the area of vehicle insurance.
Violeta Todorović, Nenad Tomić
The success of various cryptocurrencies' systems has triggered a great interest in their functioning. The fluctuation of their values is very unpredictable, so the periods of growth are often abruptly interrupted by stagnation or a pronounced decline. Nevertheless, a large number of investors have been involved in the processes of mining and trading cryptocurrencies in recent years. When it comes to the negative aspects of cryptocurrencies, the focus is primarily on various forms of cybercrime. The number of hacker attacks using the blackmail software - ransomware, is on the increase. In such cases, cryptocurrencies are often used as a means of paying ransom. However, the energy efficiency of certain types of cryptocurrencies is a less common topic. The Proof-of-Work (PoW) algorithm used for mining in some systems is an energetically intensive and really expensive process, which after economic analysis no longer seems as profitable as it first appeared to be. Cryptocurrency trading could bring a great income to the investors, but also great losses, because it essentially represents a zero-sum game. The sudden increase in the number of miners led to the disturbance on the computer components market, causing the price increase and even the complete disappearance of certain graphics card models. Everything previously mentioned indicates that cryptocurrencies have brought many negative aspects and disturbances. The subject of this paper is the economic aspect of cryptocurrencies based on the PoW algorithm. The aim of the paper is to indicate the economic unsustainability of their current concept, due to the high costs borne directly by participants in the mining process and indirectly by participants in the computer components market.
Romulo Benites de Souza Luciano
This article explores four critical groups of systematic risk embedded in smart contract employment using the analytic hierarchy process (AHP). The four principal risk analysis groups include: 1) transparency in the light of corporate governance 2) IT security 3) contract management automation and 4) legality. The AHP assists both decision-makers and stakeholders alike in the evaluation process essential for identifying potential technological constraints posed within a permissioned blockchain environment using peer-to-peer format in the absence of digital currency. Based upon critical assessment, the AHP methodology enables pairwise comparisons among different features and consequently increases the knowledge regarding these attributes in light of the software’s risk assessment.
M. A. El-Dosuky, Gamal El-Adl
No abstract is available for this record.
Nikos Fotiou, Vasilios A. Siris, Spyros Voulgaris, George C. Polyzos · 5 authors
We address the limitations of existing information security solutions when applied to the cyber-physical world. In particular, we consider the case of Internet of Things (IoT) actuation and we argue that it is hard to secure such a process. To this end, we propose a "damage control" approach, where service time is divided into slots and users perform microservice transactions, paying essentially in advance for each one, corresponding to one service slot. Under these circumstances, in the case of service disruption, a user, in the worst case, may lose the amount of money that corresponds to a single micro-service transaction in a single time slot. We implement our solution by leveraging blockchain-based smart contracts, off-chain payments, and one-time Hash-based Message Authentication Code (HMAC) passwords. Our solution supports IoT devices with limited processing capabilities and which are not necessarily connected to the Internet. Moreover, with our solution, IoT devices do not interact directly with the blockchain. In fact, they are oblivious to the use of blockchain technology. They do not store any usersensitive information, neither are payments made to or is value stored on the devices.
Karim Eldefrawy, Ashish Gehani, Alexandre Matton
No abstract is available for this record.
Zuha Samsudeen, Dhanushka Perera, M. Fernando
No abstract is available for this record.
Xucan Chen, Mohammad Al Hasan, Xintao Wu, Pavel Skums · 9 authors
No abstract is available for this record.
Fabian Teichmann, Marie-Christin Falker
Bitcoin, the world’s first cryptocurrency, was first introduced in 2009, by Satoshi Nakamoto. While many believe the name is a pseudonym, and the true identity of the creator(s) is unknown, it is an undisputed fact that cryptocurrencies have introduced an indelible change to monies worldwide. Consequently, cryptocurrencies have also introduced a plethora of new opportunities for money laundering activity.\nWhile cryptocurrencies follow the same three-step laundering process of placement, layering, and integration, the activity can be more difficult to detect due to the anonymous nature of cryptocurrencies. Moreover, while traditional schemes such as smurfing or gambling at a casino are still used as laundering techniques, more advanced methods such using mixers and tumblers or utilizing unscrupulous cryptocurrency exchanges are also being used to mask the flow of funds. Finally, the rapid increase in initial coin offerings (ICO’s) provides yet another outlet for cryptocurrency money laundering to occur.\nFortunately, advancements are being made on a variety of fronts to address the increase in illicit activity. First, the largest cryptocurrency exchange, Coinbase, has implemented a robust know-your-customer (KYC) program, as evidenced by my own experience of opening an account with the exchange. Secondly, researchers are finding new ways to extract information about certain cryptocurrency transactions which were previously thought to be unidentifiable. Finally, both law enforcement and government agencies, including the SEC and the Financial Crimes Enforcement Network, are using innovative, aggressive, and even clandestine techniques to combat cryptocurrency money laundering activity.
Guglielmo Maria Caporale, Woo-Young Kang, Fabio Spagnolo, Nicola Spagnolo
This paper uses a Markov-switching non-linear specification to analyse the effects of cyber attacks on returns in the case of four cryptocurrencies (Bitcoin, Ethernam, Litecoin and Stellar) over the period 8/8/2015–2/28/2019. The analysis considers both cyber attacks in general and those targeting cryptocurrencies in particular, and also uses cumulative measures capturing persistence. On the whole, the results suggest the existence of significant negative effects of cyber attacks on the probability for cryptocurrencies to stay in the low volatility regime. This is an interesting finding, that confirms the importance of gaining a deeper understanding of this form of crime and of the tools used by cybercriminals in order to prevent possibly severe disruptions to markets.
Usman W. Chohan
No abstract is available for this record.
Christian Rueckert
Cryptocurrencies,1 like bitcoin, raise new legal questions due to their innovative technological concepts. While academic research covers nearly all areas of the technological concepts of those currencies, legal studies focus only on a few topics. The papers that have been published so far discuss mainly economic law, tax law, and financial regulations. At the same time, governments are starting to explicitly regulate cryptocurrencies in terms of anti-money-laundering (AML) and to clarify or strengthen the legal basis for prosecuting crimes in the context of cryptocurrencies. Furthermore, criminal investigation in the context of cryptocurrencies is intensifying with the rising number of cryptocurrency-related crimes. Moreover, governments should also start to consider crime prevention in the context of cryptocurrencies. AML regulation, crime prevention, and prosecution have to take heed of the fundamental rights of the citizens affected. To date, legal research has not discussed the relationship between AML regulation (regarding cryptocurrencies), crime prevention (in conjunction with cryptocurrencies), the prosecution of crimes involving cryptocurrencies and fundamental rights. Many future regulatory concepts will collide with the fundamental right to property of the owners of cryptocurrency units and the freedom to pursue a trade or profession of owners and operators of exchange platforms, mining pools, etc. In cryptocurrencies organized as peer-to-peer systems, the freedom of association also has to be mentioned. With particular regard to prosecution, law enforcement agencies restrict the freedom of telecommunication, data privacy (including the right to informational self-determination), freedom of expression, and the freedom of information. Whenever some of these fundamental rights are impinged upon, regulation concepts and investigation or prosecution approaches must be provided for by law and must fulfill the criterion of necessity. Further interdisciplinary research is needed to develop efficient and legit prevention as well as criminal investigation concepts.
Seunghyeon Lee, Changhoon Yoon, Heedo Kang, Yeonkeun Kim · 8 authors
The Dark Web is notorious for being a major distribution channel of harmful content as well as unlawful goods.Perpetrators have also used cryptocurrencies to conduct illicit financial transactions while hiding their identities.The limited coverage and outdated data of the Dark Web in previous studies motivated us to conduct an in-depth investigative study to understand how perpetrators abuse cryptocurrencies in the Dark Web.We designed and implemented MFScope, a new framework which collects Dark Web data, extracts cryptocurrency information, and analyzes their usage characteristics on the Dark Web.Specifically, MFScope collected more than 27 million dark webpages and extracted around 10 million unique cryptocurrency addresses for Bitcoin, Ethereum, and Monero.It then classified their usages to identify trades of illicit goods and traced cryptocurrency money flows, to reveal black money operations on the Dark Web.In total, using MFScope we discovered that more than 80% of Bitcoin addresses on the Dark Web were used with malicious intent; their monetary volume was around 180 million USD, and they sent a large sum of their money to several popular cryptocurrency services (e.g., exchange services).Furthermore, we present two real-world unlawful services and demonstrate their Bitcoin transaction traces, which helps in understanding their marketing strategy as well as black money operations.
J. J. Song, Hong S. He, Zhuo Lv, Chunhua Su · 6 authors
No abstract is available for this record.
Marie Vasek, Tyler Moore
No abstract is available for this record.
Haider Al‐Khateeb, Gregory Epiphaniou, Herbert Daly
No abstract is available for this record.
A. H. Mohsin, A. A. Zaidan, B. B. Zaidan, O. S. Albahri · 7 authors
No abstract is available for this record.
Efpraxia D. Zamani, Ying He, Matthew Phillips
The adoption of blockchain technology is taking place at a fast pace. Security features inherent in blockchain make it resistant to attack, but they do not make it immune, and blockchain security risks do exists. This paper details the associated risks and concerns of the blockchain. We explore relevant standards and regulations related to blockchain and survey and analyze 38 blockchain incidents to determine the root cause to provide a view of the most frequent vulnerabilities exploited. The paper reviews six of these 38 incidents in greater detail. The selection is made by choosing incidents with the most frequent root cause. In the review of the incidents, the paper details what happened and why and aims to address what could have been done to mitigate the attack. The paper concludes with a recommendation on a framework to reduce cyber security risks when using blockchain technologies.
Dimaz Ankaa Wijaya, Dony Ariadi Suwarsono
Blockchain has emerged into one of the most promising technologies for the future. Its most successful implementation in the form of cryptocurrency has shifted many existing paradigms where financial instruments were limited by locations or jurisdictions. While blockchain is touted to offer many significant and promising features on the other hand it also increases the difficulty level in the taxation area as well as digital forensics. We investigated the issues and explores the real-world situation and how taxation and digital forensics can cope with these technology challenges.
Rômulo Rhemo Palitot Braga, Arthur Augusto Barbosa Luna
This article analyzes some of the existing digital anonymity technologies, as well as their impact on the process and facilitation of the money laundering process. It presents the concept of superficial Internet and clarifies the difference between the Deep Web and the Dark Web, exposing how it works one of its most important operating structures, the TOR protocol. It also details the operation of BitCoin, one of the most important crypto-coins today, and draws a parallel on how these technologies can impact the practice of money laundering, as well as discusses the capacity of the mechanisms currently in place to curb and punish it. The anonymity guaranteed by the use of BitCoin is so much that in the first half of May 2017, hackers infected thousands of computers in dozens of countries, including Brazil, the United Kingdom, the United States, China, Russia, Spain and Italy, encrypting computer files and requiring redemption payment for the coded data.
Raghava Rao Mukkamala, Ravi Vatrapu, Pradeep Ray, Gora Sengupta · 5 authors
In recent years, there has been a growing research attention and practitioner interest in exploring the suitability of Blockchain technology for decentralised applications in multiple domains. This paper investigates the application of Blockchain technology to address some of the key challenges faced by the domain of Social Business (SB). SB is a business model for investments in social causes for the socio-economic development of under-privileged communities. We have modelled a small example of micro-credit use-case from microfinance activities of SB using a semi-formal modelling approach using Blockchain technology. We identified that the Blockchain technology provide solutions that enhance trust, transparency and auditability in SB activities. However, we have also identified challenges related to creating a native cryptocurrency for SB, and barriers to infrastructure and technology adoption by the different stakeholders in SB.