Abstract Blockchain, tokens, smart contracts, and decentralized autonomous organization (DAO) are increasingly shaping discussions in media and research. The aim of this contribution is to explore how governance theory can clarify these concepts and how the application of theory to this new problem can also enrich governance theory itself. We focus on the technical environment (blockchain and tokens) that is at the heart of this new form of organization. By exploiting the intrinsic attributes of blockchain (decentralization, immutability, and transparency), smart contracts and DAOs are coordination mechanisms that expand the possibilities of interagent interactions and horizontal coordination, eliminating information asymmetries and the need for trusted third parties. In addition, by taking advantage of the transparency and immutability inherent in blockchain, smart contracts and DAOs make it possible to find and record agreements securely, automating contractual clauses. We argue that these technologies have a significant potential to renew the contractual approach to governance and to overcome some of the limitations of traditional theory.
The hotel enterprise is dealing with numerous challenges together with inefficiencies, lack of transparency, and safety issues. Blockchain technology using Smart Contract has the ability to cope with those challenges and improve the overall operations of the Hotel Booking.
With the popularity of Play-to-Earn (P2E) games, in-game token economies have become the foundation of the financial structure of virtual worlds. More and more players are investing in digital assets, promoting long-term economic growth. This paper delves into the key factors for the sustainability of the P2E game token economy: the investment value of tokens and external incentives. When tokens are no longer profitable, user churn rates rise sharply, which is critical to the continued development of P2E games. External factors also significantly impact token prices, which affects the stability and sustainability of the entire economic system. In response to these challenges, this paper proposes a series of strategies to enhance token stability, including adjustments to game design, improvements to player incentive mechanisms, and the formulation of relevant policies and regulations. The conclusions of this study aim to provide valuable insights and guidance to game designers, investors, and players to promote the healthy development of Web3 game token economic systems.
Edgar Roberto Dulce Villarreal, J. Garcia-Alonso, Julio Ariel Hurtado Alegrรญa
Purpose The use of technology applied to the care of ageing adults is a key strategy to increase the effectiveness of health care delivery, thus contributing to a higher quality of life for ageing people.However, a general and important concern is data security and privacy.Given the security provided by Blockchain (BC), the interest in this technology is growing at an accelerated pace in different contexts, and support for aging is no exception.Security in this type of technologies rests, among other things, on Smart Contracts (SC), immutable decentralized programs for BC platforms that enforce, monitor and execute agreements, without the intervention of a trusted third party.Due to the variety of technologies and their particularities, the development of SCs is a complex process, since the architectural constraints of each platform must be considered.This paper presents a Model Driven Engineering (MDE) tool that automatically generates SCs using the Solidity programming language, in the context of a senior care process, for deployment on the Ethereum platform.This tool complements and serves as a starting point for the framework presented in (E.R. D. Villarreal, et al. 2023).For this purpose, an Ethereum SEPM Platform Specific Metamodel and a Model to Text Transformation to generate the SCs (SEP2Solidity) are presented (See the additional material in a public repository 1 ).As a proof of concept, a metamodel, a model and a deployed SC was generated and implemented, using the functionality assessment on the Elderly Nursing Core Set (ENCS) (M, Lopes.2013).The ENCS assesses quality of life in terms of functioning among ageing adults (based on the International Classification of Functioning, Disability and Health (ICF)).Method Our aim to contribute to the care of ageing people began with the identification of a problem (Dulce, E., Hurtado, J. 2021).We have analyzed the contributions that BC can have in the care of ageing people and identified shortcomings of BC technology, directly in the development of SC.In the literature review, we have analyzed the significant contributions that MDE technology can have to perform the specification and transformation of SC between different BC platforms.Based on MDE, we have created a 4-level architecture, where we have defined the real-world elements (M0), the models (M1) and the meta-models (M2) required for the whole MDE ecosystem (Figure 1).For the construction of the metamodel, we followed the interactive and iterative approach proposed in (N.Sanchez, 2022) this, allows the specification of model fragments by domain experts.These fragments can be annotated with descriptions about the intent or requirements of certain elements.A metamodel is automatically induced, which can be interactively refactored and then compiled into an implementation metamodel for different platforms and purposes.In our case for the Ethereum BC platform.The Eclipse Modelling Framework development environment was used (eCore as metamodel, Acceleo for m2t transformation) and also, Remix IDE was used for SC deployment.Results and Discussion With the metamodel created, the model of an SC for the ENCS administration was created, then, with the m2t transformation, the source code of the SC was generated.Remix was then used to implement and deploy the SC (deploy.docxfile in the supplementary material).The data obtained in Remix shows the successful deployment of the SC.Furthermore, the results indicate that our metamodel is able to generate: constructors, users, assets, global and local variables, primitive data types, functions, mappings, structures, events, among others, required in SCs for Ethereum BC platforms, preserving the syntax of the solidity.Likewise, our tool can contribute in the maturation and specification of SCs that support ageing care, directly in secure and privacy data management, e.g., ENCS, since ultimately the management of their data depends on well-structured SCs.Also, moving forward in our work, we will create this same scenario for other BC platforms and programming languages.This will enhance SC transformation between different BC platforms, contributing to the interoperability and security of this entire ecosystem.
The latest study sheds light on distributed ledger technologies (DLTs) outside blockchain systems. The first section of this article introduces DLTs, focusing on blockchain as the main paradigm. It highlights three critical characteristics of blockchain: decentralisation, transparency, and security, and emphasises how blockchain is transforming various industries, including supply chain management and finance. Subsequently, the discussion shifts to new developments and approaches in the DLT space. It introduces next-generation ledgers designed to address traditional blockchains' scalability, energy efficiency, and interoperability challenges. The study delves into modern innovations that achieve higher transaction speeds and greater flexibility, such as hybrid models and directed acyclic graphs (DAGs). A significant portion is dedicated to how these advanced DLTs are used to transform sectors like healthcare government, secure patient data management, and enhance transparency and citizen participation. The article also addresses the challenges and ethical considerations of using these technologies. Finally, the paper predicts that DLTs will improve efficiency and innovation in industries outside blockchain technology. To maximise these new technologies' potential, research and interdisciplinary collaboration are essential.
With the advancement of economic globalization and information technology, the digitization of events has emerged as a prominent trend. In the Web 3.0 era, smart contract technology have become the primary driving force behind digital events, thanks to their deterministic and consistent properties. This study employs case study to examine the operational mechanisms and application scenarios of smart contract technology in digital events. Drawing on case studies from international events, such as the China Import and Export Fair and the 19th Asian Games in Hangzhou, it further summarizes the experiences gained from integrating smart contracts into digital events. The research focuses on the theoretical exploration of smart contract technology and addresses the challenges faced in its implementation within the events industry. Feasible solutions are proposed, encompassing smart contract construction, user utilization, operational aspects, and regulatory measures. Furthermore, this study analyzes the future application trends of smart contract technology within the events domain, aiming to provide forward-thinking insights for the comprehensive and integrated development of digital events.
Falk, Brett, Tasneem Pathan, Andrew Rigas, Gerry Tsoukalas
In this note, we examine voting on four major blockchain DAOs: Aave, Compound, Lido and Uniswap. Using data directly collected from the Ethereum blockchain, we examine voter activity. We find that in most votes, the "minimal quorum," i.e., the smallest number of active voters who could swing the vote is quite small. To understand who is actually driving these DAOs, we use data from the Ethereum Name Service (ENS), Sybil.org, and Compound, to divide voters into different categories.
Annapurna P Patil, N G Adithya, Anish Jain, Akash Singh ยท 6 authors
Karna is a platform designed to streamline and secure crowdfunding for social causes. It operates without the need for a central authority, instead relying on a decentralized autonomous organization (DAO) of anonymous volunteers to validate campaign legitimacy through a voting mechanism using smart contracts. This approach ensures that all funds are directed to genuine causes. Donors can contribute to campaigns without disclosing personal information. By eliminating middlemen and leveraging smart contracts, Karna facilitates transparent crowdfunding.
Blockchain for local communities are blockchain-based applications that support the participation of people in the social and economic life of their local community. These applications leverage tokenization to enable socio-economic processes involving transactions of values where community members take part actively and intentionally. In this field, mechanisms that regulate the functioning of blockchains need to be redirected towards collaborative and social purposes that often differ from the logics on which mainstream cryptocurrencies are based. In order to redesign these mechanisms, sound examination of their system of tokenization and of dynamics of their token economy is required. This paper provides an exploratory review of token economy elements found within cases of blockchain for local community economies, which is an under-explored domain in the relevant literature. The analysis considers 9 projects for systems that incentivize or reward participation, or implement community currency schemes. The dimensions analyzed encompass the type of goals and communities, the blockchains adopted, and token economy design aspects such as: token types, their distribution and incentive mechanisms, the associated platform/wallet functionalities, and the project governance models. We have observed a variety of combinations of these elements being used to facilitate new forms of value circulation. However, there is a tension between the aspiration to introduce transformative systems and the need to ensure the stability of the economic framework. The highly experimental nature of these initiatives requires continuous monitoring of their emergence and development.
E. Saranya, M. Arulselvan, S. Nawin Sharvesh, V. Nhivas ยท 5 authors
Crowdfunding has gained popularity as a means of obtaining capital for a range of enterprises, enabling individuals to make modest contributions to projects. Meanwhile, blockchain technology has allowed non-fungible tokens (NFTs) as unique digital assets that are transforming digital ownership in a variety of sectors. Among the problems with the current crowdfunding models are their lack of transparency, low participation, and difficulties in validating contributions and rewards. By offering unchangeable proof of ownership, encouraging participation with special digital incentives, and global accessibility, traceable transactions, integrating NFTs can help solve these problems. This study examines the potential benefits of using NFTs in crowdfunding, contributing to the understanding of decentralized crowdfunding and opening new possibilities in this rapidly growing field.
In this era of rapid development of online transactions and platform economies, many companies operate as intermediaries between Party A and Party B in transactions and gain profits from every transaction. The "middleman", that is, the intermediary, mainly introduces Party A's resources in the form of a platform and allows more users to see and understand Party A's resource information. Platform users, that is, Party B, can save them from searching for the resources they want during the intermediary's promotion and introduction. time cost; however, some intermediaries take advantage of the process of transferring Party B's money to Party A as an intermediary and use some unfair means to obtain profits that exceed their original gains in the transaction as an intermediary, thus causing information between Party A and Party B. Asymmetry creates ambiguity, leading to serious problems in transactions. In this work, we will discuss the advantages of the decentralized sharing economy. Furthermore, this paper will focus on analyzing the shortcomings of intermediary operations in contemporary society from the perspective that intermediaries need to spend a lot of time and economic costs to establish credibility, the lack of intermediaries which are controlled artificially, and the friction of platform p2p transactions. Targeting the above three aspects, the paper will also explain and analyze the operating model of Ethereum to demonstrate that Ethereum is a better online transaction model that can replace the artificial intermediary model in contemporary times.
Emerging technology products would benefit hugely from the introduction of voluntary standards. Those, however, are costly to adopt, especially for smaller players. Further, popularizing the standards and policing compliance is difficult. This paper makes the case for empowering the users to police the voluntary standards. Utilizing Distributed Ledger Technology (DLT), more precisely Directed Acyclic Graph will reduce the costs of recording and storing individual measurements for each product allowing users to claim compensation every time the product doesn't perform according to specifications. The paper discusses the specific requirements the product should meet to utilize DLT as compliance tool. It is also discussing the specific legal issues that entail from empowering users to police standard compliance.
Robert Wayne Gregory, Roman Beck, Ola Henfridsson, Niam Yaraghi
Enhancing cooperation among strangers is challenging. Strangers, who lack previous interactions and trust, cannot rely on human reciprocity as they engage in social and economic exchange. They have a tendency to defect for maximizing individual interests rather than to cooperate for benefiting each party in the exchange. Blockchain-based smart contracts come with the promise of solving this dilemma of cooperation. In this paper, we trace this promise to a new mechanism of cooperation, programmed reciprocity, defined as coded instructions for automatically returning good for good (positive reciprocity) and ill for ill (negative reciprocity). Programmed reciprocity is rooted in the algorithmic enforcement capability of blockchain networks, defined as the ability to guarantee the execution of the rules of an exchange agreement without a central authority and the possibility of human interference by either of the involved parties. We propose that algorithmic enforcement capability positively affects the viability of cooperation among strangers on the blockchain through programmed reciprocity. This is contingent on the level of contract complexity and blockchain confidence. Our proposed framework extends the nascent literature on blockchain governance with a novel explanation of how programmed reciprocity can enhance cooperation among strangers. In doing this, it also addresses a significant yet unresolved problem in the literature on cooperation in social and economic exchanges.
D Uday Kumar, Gunda Sravya, Akula Leelavathi, K Rama Naga Sai Sri Swathi ยท 5 authors
The concept of crowdfunding, a method for online fundraising, has evolved to enable public contributions in support of creative projects. Leveraging blockchain technology, cro wdfunding platforms now integrate smart contracts, ensuring secure, transparent, and reliable transactions. This study focuses on the development of interactive interfaces for campaign creation and financial contributions, facilitating engagement for both creators and donors. Campaign creators can propose initiatives and submit them for approval, while donors can browse and support projects through financial contributions. Transparency is ensured through blockchain recording of all transactions, offering immutable and transparent records. The incorporation of smart contracts is pivotal in removing the need for intermediary trust in blockchain-based agreements. This work emphasizes the importance of developing executable code for blockchain execution, ensuring transaction integrity and security. Initially associated with cryptocurrencies, blockchain technology has expanded its applications across industries, offering a sustainable solution for internet transactions. Crowdfunding platforms stand to benefit significantly from blockchain integration. Challenges in the current crowdfunding landscape include inadequate oversight and fraudulent investment schemes. By leveraging Ethereum smart contracts, this study seeks to address these challenges, enforcing time limits and automating contract execution to enhance trust and transparency in the crowdfunding process.
Jawaid Iqbal, Hasnain Raza, Reqad Ali, Muhammad Awais
The purpose of this research is to analyze whether Blockchain technology can affect the share-economy. Apart from that, blockchain technology has been innovating the whole of the industries and so the academics are discovering the possibilities and starting to incorporate them in order to provide additional tech possibilities. The sharing economic system is the system which enables to share asset among the one person to the other person. It has seen the remarkable growth in the last few years, Uber, Careem, Airbnb, Zostel, Hostel World are some companies to mention which have fueled this growth. Yet, the majority of the transactions through the sharing economy system are facilitated by a centralized infrastructure executing an intermediary role that might be vulnerable to issues of hacking and data breach and such operations come at a high cost and expending more effort in keeping the system active is also a factor worth mentioning. A different method which is free of control centers such as the peer-to-peer sharing and smart service model which is being implemented in the Hospitality industry can overcome those obstacles. Through the use of a blockchain-backed payment system based on an accommodation-sharing structure, the research will develop a prototype of the proposed system in the form of a DApp on the Ethereum blockchain. The aim of these studies and research is to inform the public about the revolution that is blockchain and its benefits for trade, technology, business, and daily life.
Aman Dwivedi, Divyansh Sharma, Sharad Gumber, Satyam Gupta
Abstract: Carpooling has seen a significant upsurge in popularity in recent years since it relieves commuters of the burden of driving a car and later spares them from the mad dash to locate a parking space. The industry now uses centralised database servers, which puts the system at risk of hacking, causes data leaks, and undermines security within the system. Additionally, there is a chance that the owner will misuse the data in a centralised system. Since the newly developed Blockchain technology provides complete anonymity and database transparency, data security and traceability may be guaranteed across the entire server. The goal of the suggested solution is to create and implement a blockchain-based, smart contract-based peer-to-peer vehicle sharing system. The Solidity programming language is utilised to carry out the smart contracts. Ethereum blockchain is used in the ecosystem's construction. Eliminating the middleman would result in a peer-to- peer (P2P) car-sharing programme, which would reflect decreased costs and exposure to data theft.
David Ballaschk, Constantin Drott, Stefan Mitzlaff
Cross-border payments, especially between different currency areas, are still more expensive, slower and less transparent than domestic transactions. In addition to attempts to facilitate interoperability by harmonising message standards or legal frameworks, there is also the vision of using multilateral platforms to reduce existing inefficiencies. A particular focus here is on distributed ledger technology (DLT), which could create additional benefits beyond payment transactions, for example by facilitating broader economic activity by means of tokenised assets. Some private sector players, as well as international organisations such as the International Monetary Fund and the Bank for International Settlements, have already developed concepts for DLT-based multilateral platforms. However, their realisation faces broader policy challenges that are unlikely to be solved per se with the help of new technologies. Although a global multilateral platform does indeed harbour great potential for efficiency gains, regional solutions are more likely to emerge that could be linked together to achieve efficiency gains at a global level.
This paper explores the dynamics between value-added services, intermediary brands, and consumer privacy concerns in shaping attitudes toward blockchain-enabled consumer services. Grounded in the Antecedents-Privacy Concerns-Outcomes (APCO) framework, we develop a theoretical model that we test in three experimental studies with a total of 1613 participants, utilizing verbal scenarios featuring blockchain applications for international money transfer and hotel booking. Our research reveals that complete disintermediation via pure peer-to-peer blockchain transactions is unlikely. Consumers prefer blockchain applications offering supplementary services like call centers, password assistance, and cancellation options. As consumers become familiar with blockchain technology, privacy concerns intensify due to its distributed and immutable storage. The fears of data breaches are more pronounced when blockchain applications are offered by unknown startups as opposed to well-known Big Tech companies. However, privacy-conscious consumers also value the prospect of distancing themselves from big-data ecosystems by embracing blockchain solutions from startups. Our research extends the APCO framework by clarifying how privacy concerns, brand-based heuristics, and technological attributes interact. For managerial implications, blockchain applications necessitate re-intermediation to meet consumer preferences. Potential intermediaries, including Big Tech firms, startups, and industry incumbents, face unique challenges in developing and marketing blockchain-enabled consumer services.
May 19, 2024ยท2024 IEEE 4th International Maghreb Meeting of the Conference on Sciences and Techniques of Automatic Control and Computer Engineering (MI-STA)
This paper explores the integration of blockchain technology to revolutionize hotel reservation management. This innovative approach proposes a decentralized platform that exploits specific tools to securely store user profiles and bookings. The case study focuses on the integration of this platform as an enterprise node in the blockchain. Users are incentivized to share their data with other travel service providers, including hotels, under the terms of smart contracts, receiving rewards in digital tokens. Solidity verifies transactions and imposes a double deposit guarantee to ensure the integrity of participants. This paper presents a system that enables people to communicate with the various players in the tourism industry using a unique wallet identifier associated with a crypto-currency server, making it easier to initiate financial transactions. The performance evaluation highlights the node's fast responsiveness, with reasonable transaction costs, underlining the practicality and efficiency of using blockchain with MongoDB, Ethereum, Node.js, React, and Solidity in the specific field of hotel reservation management.
Experiments in alternative forms of urban digitalisation include blockchain-based applications as enablers of civic action in local communities, inspired by different visions than blockchain-based speculative cryptocurrencies. This article investigates how blockchain technology can be oriented towards locally embedded applications. It explores the case of a blockchain-based wallet app that aims to support social collaborative economies and civic participation in urban communities by tokenising social and economic assets. Building on studies on the embeddedness of urban digital platforms with a local character, this article studies how the app under consideration is shaped by, and adapted to, the needs and resources of local socio-economic contexts. Two pilot experimentations on the app are considered, concerning systems for rewarding civic participation and urban sharing economies. The empirical analysis concerns the methodology for introducing the app into local socio-economic contexts, the way in which local actors interpret its properties, and the resulting iterative co-design of its functionalities. The article defines and discusses the extent to which the civic blockchain is rendered context-based by this methodology, and highlights similarities and differences with other urban digital platforms. The empirical evidence drawn from this research contributes to the debate on how community members, researchers and digital experts together can realise alternative forms of urban digitalization.
Blockchain technology is a revolutionary concept that has transformed various industries, offering decentralized and secure solutions for data management. At its core, a blockchain is a distributed and immutable ledger that records transactions across a network of computers. One of the key features of blockchain is its transparency, as each participant in the network has access to the same information. The application of blockchain technology extends across diverse sectors, with finance being the most promising and well-known application domain. Cryptocurrencies, like Bitcoin and Ethereum, rely on blockchain to facilitate secure and transparent transactions. The decentralized nature of blockchain eliminates the need for intermediaries, reducing transaction costs and increasing efficiency. Beyond finance, blockchain is making significant strides in supply chain management. The emergence of blockchain technology has paved the way for a transformative innovation in the realm of digital transactions: smart contracts. These self-executing contracts encoded in blockchain have garnered significant attention for their potential to revolutionize the way agreements are made, executed, and enforced. This paper explores the concept of smart contracts, delving into the underlying technology, finding applications across various industries, legal implications, and future prospects.