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Guru, Divya, Supraja Perumal, and Vijayakumar Varadarajan. "Approaches towards Blockchain Innovation: A Survey and Future Directions." Electronics 10, no. 10 (May 20, 2021): 1219. http://dx.doi.org/10.3390/electronics10101219.
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A blockchain is a decentralized peer to peer platform which provides security services based on some key concepts, namely authentication, confidentiality, integrity and authorization. It is the process of recording and keeping track of the resources without the intervention of a centralized authority. This paper provides an overview of blockchains, the structure of blockchains, consensus algorithms, etc., It compares the algorithms based on their utility and limitations. Though blockchains provide secure communication, there are some minimal data leaks which are discussed. Various security issues in blockchains are discussed such as denial of service attacks, etc., In addition to security, some other blockchain challenges are presented like scalability, reliability, interoperability, privacy and consensus mechanisms for integration with AI, IoT and edge computing. This paper also explains about the importance of blockchains in the fields of smart healthcare, smart grid, and smart financial systems. Overall, this paper gives the glimpse of various protocols, algorithms, applications, challenges and opportunities that are found in the blockchain domain.
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LIU, Bojian. "Impact of Blockchain on China’s Cyber Statecraft: Opportunities and Risks." East Asian Policy 10, no. 04 (October 2018): 71–78. http://dx.doi.org/10.1142/s1793930518000387.
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Since 2016, China has officially regarded blockchain technology as a subversive innovation that will fundamentally transform major industries. Current blockchain projects in China are dominated by private or consortium blockchains that have their accessibility firmly controlled; for public blockchains such as Bitcoin and Ethereum, access is free for all. Not surprisingly, by weakening state control of digital data, public blockchains may neutralise China’s decades of efforts in building internet filtering systems. The existing development trajectory of private and consortium blockchains is likely to advance steadfastly, and citizens and companies in China may be required to use state-controlled blockchains.
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Markey-Towler, Brendan. "Blockchains and institutional competition in innovation systems." Journal of Entrepreneurship and Public Policy 9, no. 2 (August 28, 2019): 185–93. http://dx.doi.org/10.1108/jepp-03-2019-0015.
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Purpose The purpose of this paper is to introduce the notion of blockchain as an institutional technology, defend the idea of National Innovation Systems as institutional systems, and then make use of the theory of institutional competition to characterise challenges posed by innovation public policy by blockchain technology. Design/methodology/approach The approach is to consider the nature of blockchain technology as an institutional technology, and to consider the nature of National Innovation Systems as institutional systems. The author then applies a theory of institutional competition developed elsewhere to appraise the interaction of the two. Findings The author expects for there to emerge sustained competition for National Innovation Systems from innovation systems implemented using blockchains. There will be pressure exerted by the latter upon the former to become more integrated, secure, usable and to greater support profit expectations for entrepreneurs. Originality/value The theory of institutional competition upon which this work is based makes use of cutting-edge behavioural and institutional economics. It has hitherto only been applied at a general level and has not been applied to a specific set of institutions such as National Innovation Systems.
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Kigombola, Anthony, Mercy Mbise, and Prosper Mafole. "Dinari: A Blockchain Lab for Supporting Blockchain Learning, Research, and Innovation in Tanzania." Journal of ICT Systems 1, no. 1 (May 4, 2023): 19–31. http://dx.doi.org/10.56279/jicts.v1i1.26.
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Blockchains have caught the attention of governments, businesses, and researchers due to their potential to revolutionize the way data is stored and consumed. Despite the current interest in blockchains globally, there has been unsatisfactory progress of this promising technology in developing countries, including Tanzania. One factor hindering the advancement of blockchain in the country is the lack of knowledge of the technology itself. Challenged by the situation, this study implemented a blockchain lab to provide a platform for users to explore and practice various concepts of blockchain. This online lab, called Dinari, was implemented using Ethereum blockchain and was hosted on a cloud server. Experiments were conducted to verify the performance of the developed lab. Results from the experiment show that the platform gives an average transaction processing time of 15.17 seconds. The processing times were within an acceptable range of performance when compared with other online platforms, such as Mainnet and Kovan that provide average processing times of between 8.8 seconds and 18.3 seconds. The study can be scaled up in future to deploy more use cases, including health, in addition to the existing payment use case.
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Yu, Bofan. "Fintech Application: Artificial Intelligence and Blockchain." Advances in Economics, Management and Political Sciences 15, no. 1 (September 13, 2023): 240–47. http://dx.doi.org/10.54254/2754-1169/15/20230920.
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From academia to manufacture, artificial intelligence has a wide application and influence. on financial market. Finance is one of the earliest industries have a great connection with artificial intelligence. Through accurate profiling, neural networks and a series of artificial intelligence technology apply to finance. The traditional financial products, service way, credit finance invest decisions, risk control, etc. will have an innovation. Analysis of base, impact mechanism, development directions, risks on combination between artificial intelligence and finance has great theoretical value and practical significance to promote further combination between artificial intelligence and finance. Blockchain, originated from the concept of digital currency, has an extensive application in series of industries. Governments, financial companies, technology enterprise all over the world show great interest in blockchains. Blockchain, a rising distributed database protocol, apply cryptography technology, time-stamped chain data structures and distributed consensus mechanisms, have achieved decentralization, immutability, easy traceability and many advantages. Blockchains have solved the problem, high cost and insecurity of traditional centralized system, which has broad application prospects. This article focuses on two representative technologies apply in finance, artificial intelligence and blockchains. Start with the definitions of artificial intelligence and blockchains. The significance part is analysis on application of these two technologies. It compares different charge of robo-advisor platform and analyze non-performing loans rate to show the advantage of intelligence risk control. It also introduces five types and characteristic of blockchains, and uses ripple as example to show application of blockchains in cross-broader payments.
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Kaur, Navneet, and Devesh Saini. "Recent Advancement in Blockchain: A study." CGC International Journal of Contemporary Technology and Research 6, no. 1 (April 10, 2024): 373–80. http://dx.doi.org/10.46860/cgcijctr.2024.04.10.373.
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With technological innovation occurring at an ever-increasing rate, block chain has become one of the hottest new Internet trends. Because it is a distributed and decentralised database, blockchain has restored the definition of trust—providing security through cryptography and consensus mechanism without needing any third party. Hence the aim of this study is to provide an overview on the concept of blockchains, historical development, and application of Block chain in real life. In addition, the working of interlinked blockchains (blockmesh), their merits and applications are discussed. This will be useful to clarify the uses and usage of blockmesh in our daily lives. Finally, a slight peek in the past of the block chain would also be discussed to show the exponential growth in the blockchain technology.
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Pavlyshyn, Ivan, Anna Petrenko, Bohdan Opryshko, Bohdan Oliinyk, and Sergii Kavun. "Social Media Impact on the ‘Cosmos’ Blockchain Ecosystem: State and Prospect." Data Science Journal 23 (February 23, 2024): 8. http://dx.doi.org/10.5334/dsj-2024-008.
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The proliferation of blockchain technology heralds transformative impacts across various sectors, offering decentralization, transparency, and enhanced security. This paper explores the unique case of Cosmos, a scalable blockchain ecosystem designed to address the challenges of isolation and interoperability among existing blockchains. With its implementation of Tendermint consensus and the Inter-Blockchain Communication protocol, Cosmos stands out in facilitating seamless cross-blockchain interactions. The ATOM token serves a dual role as the network’s currency and a governance tool, empowering stakeholders in decision-making processes. Significantly, this study investigates the intricate relationship between Cosmos and social media platforms, examining how online sentiment influences voting on governance proposals, with a detailed analysis of two specific proposals. Furthermore, the paper delves into Cosmos’ integral role in the burgeoning Decentralized Finance sector, underscoring how its modular architecture fosters financial innovation. In the broader context, there are numerous PoS (Proof of Stake) networks. Cosmos, one of the foundational and longstanding projects, exemplifies a classic blockchain economic model, making it an ideal subject for this analysis. Finally, the paper assesses Cosmos’ contribution to the overarching Web3 vision, asserting its significance as a foundational element for a decentralized, user-oriented digital framework. Our findings illuminate Cosmos’ multifaceted impact, from technological innovation to reshaping societal structures, reaffirming blockchain’s potential in redefining modern paradigms. JEL Classification Codes: M31; M15; C58; L17 MSC 2010 Subject Classification Codes: 00A06; 37M10; 62M10; 91B84; 91B82
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Dobrianskyi, B. I., and I. V. Stetsenko. "Architectural framework for a United Blockchain Interaction Library." PROBLEMS IN PROGRAMMING, no. 1 (January 2024): 86–95. http://dx.doi.org/10.15407/pp2024.01.086.
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This research addresses the challenges posed by the fragmented nature of blockchain development tools, presenting a comprehensive exploration of the imperative need for a unified architecture. In response to the growing diversity of blockchain networks, a solution in the form of a unified library based on a versatile and interoperable interface that streamlines interactions across various blockchains is proposed. The current state of blockchain development tools, an overview of existing solutions, formulation of design principles, and functions of proposed unified library are provided. By mitigating the complexities associated with disparate tools, the research aims to enhance the accessibility and efficiency of blockchain development, encouraging collaboration and innovation within the blockchain community.
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Denga, Michael. "Transaktionsgebühren der Blockchain." Zeitschrift für Bankrecht und Bankwirtschaft 34, no. 5 (October 15, 2022): 298–310. http://dx.doi.org/10.15375/zbb-2022-0505.
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Zusammenfassung Im rechtswissenschaftlichen wie regulatorischen Diskurs um Blockchain-Plattformen werden bislang die wertbildenden Faktoren für Kryptowährungen vernachlässigt. Hier sollen – insbesondere am Beispiel von Ethereum – die Gebühren für Blockchain-Transaktionen untersucht werden. Ihre Bedeutung ist kaum hoch genug einzuschätzen, denn sie determinieren die Attraktivität von Blockchain-Ökosystemen, können zu Lock-In-Effekten für Anlagen führen und sind Treiber von (Umgehungs-)Innovation. Transaktionsgebühren sind in den Protokollen von Blockchain-Systemen niedergelegt, für die auf das klassische IT-rechtliche Axiom von Lessig zurückgegriffen wird – Code is Law. Eine genaue Analyse des Zustandekommens von Blockchain-Protokollen zeigt allerdings, dass die technologieenthusiastischen Narrative der Blockchain strikt an der Grenze ihrer Programmierung enden. Der Code von Blockchains ist nicht „unveränderlich“ oder „rein technisch“, er ist hochpolitisch und häufig von monetären Interessen geprägt. Protokolländerungen entstehen durch Updates in informellen Strukturen, in denen Charisma sowie ökonomischer Druck maßgeblich sind und die durchaus zentralistische Züge tragen. Daher sind Belange des Schwächeren- und Minderheitenschutzes auf den Plan gerufen; das Problem der Transaktionsgebühren soll in diesem Beitrag mit den Lösungen des Kapitalmarktrechts sowie auch des AGB- und Gesellschaftsrechts abgeglichen werden. Am Ende steht der Appell für eine tatsachengebundene Einordnung von Blockchain-Systemen als menschlich determinierte, verantwortlich geführte Systeme. Zudem empfiehlt sich eine regulatorische Reflexion der Funktionsbedingungen von Blockchains als Infrastruktur.
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Felipe, Marcos, and Haiping Xu. "HistoChain: Improving Consortium Blockchain Scalability using Historical Blockchains." Advances in Science, Technology and Engineering Systems Journal 8, no. 3 (May 2023): 89–99. http://dx.doi.org/10.25046/aj080311.
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Thakur, Chandan, Vipul Kumar Katiyar, and Sonu Kumar. "Relevance of Blockchain in the Global World." International Journal of Research in Engineering, Science and Management 3, no. 9 (September 23, 2020): 119–23. http://dx.doi.org/10.47607/ijresm.2020.303.
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The academic and business community discusses the research avenues and practical implementations of blockchains continuously with the ongoing growth and implementation of blockchain technologies. The blockchain also has its advantages in the economy, manufacturing, medical and other industries. Most view Blockchain as a perturbing key technology. Although several academics have recognized the importance of blockchain, blockchain technology is still in its early stages. The latest academic literature on blockchain in industry and economics is therefore analyzed in this article. We identify the most high-quality articles, active countries and most popular keywords based on a comprehensive analysis of literature published on the Web of Science. In addition to that, the clustering analyses are carried out, and the following study areas has been identified: 'economic gain,' 'blockchain technology,' 'initial coin offerings’, 'fintech innovation’ and 'sharing economies’.
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More, Jyoti, Jyoti Deshmukh, and Deeplaxmi V. Niture. "Critical issues in Leveraging Blockchain in Healthcare Sector." International Journal on Recent and Innovation Trends in Computing and Communication 11, no. 5 (May 17, 2023): 128–33. http://dx.doi.org/10.17762/ijritcc.v11i5.6586.
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Blockchain innovation has brought various benefits to the healthcare sector. Utilizing blockchains in clinical contexts will reduce handling time since when a patient signs up for a review, the complete collected data will be accessible at once because of accessibility on the distributed ledger. Also, specialists will not need to stress over the patients giving them a legit clinical history, because of their capacity to progressively see the correct, credible, and quality source-recorded information. It eliminates any likely clinical history mistakes. Similarly, the patients will not need to stress over having a second assessment from another specialist, because of the straightforwardness of the information. Having patient records on a blockchain organization will prompt individuals to know and associate with various others, across the globe, with similar ailments as they have, which is not only valuable for their well-being, but also make the patients feel acknowledged, upheld, and have reinforced determination to battle the ailment. Patients will have total independence regarding their information, and they will choose who to impart the information to. In this paper, we present all the challenges and critical issues associated with implementing blockchains in the healthcare sector.
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Diaconita, Vlad, Anda Belciu, and Maria Georgiana Stoica. "Trustful Blockchain-Based Framework for Privacy Enabling Voting in a University." Journal of Theoretical and Applied Electronic Commerce Research 18, no. 1 (January 10, 2023): 150–69. http://dx.doi.org/10.3390/jtaer18010008.
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In this study, we explore the challenges and potential solutions to blockchain-based voting. As a first step, we present a comparison of the relevant platforms for implementing smart contracts in decentralized applications (dApps). We analyze the top platforms, highlighting their advantages and disadvantages, their architecture, and which are more reliable for developing smart contracts. The goal is to find a technology that offers various facilities to the developer and multiple functionalities and performance in the development of smart contracts in a field that has seen an incredible pace of innovation. Based on the findings from our research, we propose a framework based on blockchain technology and smart contracts for university-level voting based on blockchains.
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Pradhan, Devasis, Arun Agarwal, Hla Myo Tun, Zaw Min Naing,, and Thandar Oo. "Critical Security & Privacy Issue in Blockchain Technology Intended to Industry 4.0." Middle East Research Journal of Engineering and Technology 2, no. 1 (February 28, 2022): 1–7. http://dx.doi.org/10.36348/merjet.2022.v02i01.001.
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Abstract: Block-chain is getting famous and one of the most widely recognized subjects can be thought of it has additionally changed the ways of life of many individuals in specific fields, in view of the effect on organizations and joins. Blockchain guarantees more dependable and fitting assets and it is exceptionally vital to remember that security and protection have a few deterrents as any innovation in this fields. The range of blockchain applications is extremely reached out into various regions in banking, wellbeing, car, the Internet of Things (IoT) and so forth. Numerous concentrates on focus on utilizing the block-chain information model in various executions. Motivated from these facts, in this paper, we present a systematic review of various blockchain- based solutions and their applicability in various Industry 4.0-based applications. In this paper, we attempt to portray block-chain innovation by talking about its model of information security and protection point of view with various agreement calculations, as well as issues and open doors in blockchains.
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Mishra, Aditya, Ankit Sharma, Devesh Anand Shrivastava, Deepa Jha, Prachi Goel, and Apurva Jain. "Blockchain and the Law – Legality & Legal Applications." International Journal for Research in Applied Science and Engineering Technology 11, no. 12 (December 31, 2023): 2040–43. http://dx.doi.org/10.22214/ijraset.2023.57761.
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Abstract: In our thorough exploration of the intricate relationship between blockchain technology and the legal landscape, we uncover three key intersections: legality, law-like characteristics, and legal applications. Delving into the realm of legality, we analyze the profound impact of jurisdiction-specific regulations governing cryptocurrencies, intellectual property, and taxation. This includes considerations such as identity verification, exchange regulation, securities laws, bankruptcy regulations, and anti-money laundering enforcement, shaping the multifaceted legal terrain. Shifting focus to the law-like characteristics inherent in permissionless blockchains, our examination reveals decentralized governance facilitated through consensus mechanisms. The blockchain protocol operates as a dynamic "constitution," actively shaping the behavior and incentives of network participants, with forking introducing a distinctive form of institutional innovation during disagreements over protocol changes. Expanding our exploration to the transformative legal applications of blockchain, we emphasize smart contracts and decentralized autonomous organizations. Despite remarkable advancements, challenges persist in automating intricate contractual arrangements and organizational functions, particularly within the context of multi-stage interactions embedded in broader legal and social frameworks. In conclusion, our comprehensive findings highlight that blockchain's unique capacity for direct economic value exchange requires innovative legal treatment. It not only influences user incentives through its rule-based structure but also catalyzes transformative changes across legal and contractual domains. However, as the blockchain landscape evolves, persistent limitations become apparent, particularly in addressing relational agreements and ensuring constitutional resilience. The evolving nature of this technology continues to shape and redefine the intersection between blockchain and the law
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Purwono, Purwono, Khoirun Nisa, Sony Kartika Wibisono, and Bala Putra Dewa. "Private Blockchain in the Field of Health Services." Journal of Advanced Health Informatics Research 1, no. 1 (February 18, 2023): 10–15. http://dx.doi.org/10.59247/jahir.v1i1.14.
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Blockchain is a technology that is quite popular and has been adopted in various fields in recent years. This technology has caught the attention of researchers in the health sector because of its innovation which is considered capable of providing the necessary guarantees for the safe processing, sharing, and management of sensitive patient data. There are many problems with falsifying reports and withholding important information from patients, which is considered medical fraud. Hyperledger, a type of private Blockchain, is very suitable for healthcare applications. A private blockchain is a restricted type of blockchain network created by an entity. This type of network is limited to those with access permissions. In addition, private blockchains usually use a centralized verification system and are controlled by the network's creators. Hyperledger Fabric is one example of a permissioned blockchain that can play a role in implementing patient-centric, interoperable healthcare systems
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Carapella, Francesca, Edward Dumas, Jacob Gerszten, Nathan Swem, and Larry Wall. "Decentralized Finance (DeFi): Transformative Potential & Associated Risks." Finance and Economics Discussion Series 2022, no. 057 (August 30, 2022): 1–33. http://dx.doi.org/10.17016/feds.2022.057.
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Decentralized finance (DeFi) refers to a set of newly emerging financial products and services that operate on decentralized platforms using blockchains to record and share data. DeFi products and services are conducted without a trusted central intermediary such as a bank, and they include payments, lending and borrowing, trading and investments, capital raising (crowdfunding), and insurance. An important innovation that allowed for the development of DeFi was the growth of programming capability on blockchains. This innovation allows for the creation of computer code called smart contracts that can be invoked by users without going through a centralized intermediary. DeFi may pose financial stability risks, that are exacerbated by the fact that both are currently largely outside the prudential regulatory perimeter, which we discuss.
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Milenia, Stevi, and Tresnawati Tresnawati. "BLOCKCHAIN APPLICATION: INDONESIAN COMPETITION LAW’S PERSPECTIVES." Law Review, no. 1 (July 12, 2022): 001. http://dx.doi.org/10.19166/lr.v0i1.5421.
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<p>Having advantages of consensus mechanism in decentralizing data transaction which potentially eliminates the need for third-party intermediaries, blockchain has the potential to revolutionize markets industry to decrease the showcase control of today’s centralized stages by utilizing the internet. Blockchain has been rising innovation in Indonesia, demonstrated by establishment of Indonesia Blockchain Association. Though its application in Indonesia is still restricted to cryptocurrency sector, no question that blockchains will be connected broadly in near future, and unquestionably will influence business competition. Law and technology ought to be thought of as allies-not enemies-as they feature complementary strengths, yet it might also have their curses. Some intriguing articles has even questioned how blockchain would cause the death of anti-trust, the so-called competition law. Meanwhile this article would focus on elaborating consequences of blockchain technology both positive and negative sides in Indonesia Competition Law Perspective, both in substantial and procedural law, using library research, statute, comparative, and conceptual approach.</p>
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Weber, Ingo. "Keynote." ACM SIGMETRICS Performance Evaluation Review 48, no. 4 (May 17, 2021): 3. http://dx.doi.org/10.1145/3466826.3466829.
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Blockchain is a novel distributed ledger technology. Through its features and smart contract capabilities, a wide range of application areas opened up for blockchain-based innovation [5]. In order to analyse how concrete blockchain systems as well as blockchain applications are used, data must be extracted from these systems. Due to various complexities inherent in blockchain, the question how to interpret such data is non-trivial. Such interpretation should often be shared among parties, e.g., if they collaborate via a blockchain. To this end, we devised an approach codify the interpretation of blockchain data, to extract data from blockchains accordingly, and to output it in suitable formats [1, 2]. This work will be the main topic of the keynote. In addition, application developers and users of blockchain applications may want to estimate the cost of using or operating a blockchain application. In the keynote, I will also discuss our cost estimation method [3, 4]. This method was designed for the Ethereum blockchain platform, where cost also relates to transaction complexity, and therefore also to system throughput.
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Yu, Zhiwen, Zhaoming Qiu, Ying Cai, Weijian Tao, Qian Ai, and Di Wang. "Hybrid Game Trading Mechanism for Virtual Power Plant Based on Main-Side Consortium Blockchains." Electronics 12, no. 20 (October 16, 2023): 4269. http://dx.doi.org/10.3390/electronics12204269.
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With the rapid development and technological innovation in the energy market, peer-to-peer (P2P) energy trading, as a decentralised and efficient trading model, has been widely studied and practically applied. However, in P2P energy transactions involving multiple prosumers, there are challenges such as information asymmetry, trust issues, and transaction transparency. To address these challenges, blockchain technology, as a distributed ledger technology, provides solutions. In this paper, we propose a blockchain technology-based prosumer–virtual power plant (VPP) two-tier interactive energy management framework to assist P2P energy transactions between multiple prosumers. In this framework, the virtual power plant acts as a leader and sets differentiated tariffs for different prosumers to equal the distribution of social welfare. The various prosumers act as followers and respond to the leader’s decisions in a cooperative manner. Blockchain’s immutability and transparency enable prosumers to participate in P2P energy trading with greater trust, share idle energy, and share revenues based on contribution. In addition, given the uncertainty of renewable energy, this paper employs a stochastic planning approach with conditional value at risk (CVaR) to describe the expected loss of VPP. Ultimately, as verified by the arithmetic simulation, the blockchain co-governance transaction model effectively supports energy coordination and optimization of complementarities while ensuring the utility of each transaction node. This model promotes the application of renewable energy in local consumption, while facilitating the innovation and sustainable development of the energy market.
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Appelbaum, Deniz, and Robert A. Nehmer. "Auditing Cloud-Based Blockchain Accounting Systems." Journal of Information Systems 34, no. 2 (October 25, 2019): 5–21. http://dx.doi.org/10.2308/isys-52660.
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ABSTRACT In this research, we often refer to Nakamoto's (2008) seminal paper, “Bitcoin: A Peer-to-Peer Electronic Cash System,” to consider his proposed abstracted characteristics and how auditors could look at companies' transactions interfacing to a private/semi-private blockchain with Nakamoto's general characteristics and address the related audit domain for such transactions. We then take these design requirements for auditors and, using design science research (DSR), we consider the transaction processing and contracting contexts that match those requirements in permissioned blockchains.The blockchains discussed in this paper would typically be business-to-business or business-to-consumer, private or semi-private, and residing in either a private, semi-private, or public cloud. Those blockchains will each have their own design and operational procedures, including validation procedures (the miners). We consider the audit issues of data reliability, data security, and transaction transparency in accounting transactions that lend themselves to a permissioned blockchain as well as other contextual issues.
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Nargide, Harsh Rajesh. "E-Voting System Using Blockchain and Face Recognition." International Journal for Research in Applied Science and Engineering Technology 12, no. 4 (April 30, 2024): 4022–24. http://dx.doi.org/10.22214/ijraset.2024.60890.
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Abstract: Voting systems have evolved over time, with paper voting becoming the most common worldwide. The introduction of electronic voting in the last decade has brought long-term solutions, but problems remain, especially in terms of security, trust, transparency and operation. Estonia has emerged as a leader in electronic voting despite limited blockchain integration. Blockchain technology offers a promising solution to these challenges through immutability and decentralization. However, current blockchain-based voting technology often lacks good solutions or lacks adequate measurement and evaluation. This article presents a new blockchain-based electronic voting platform designed to solve these problems in many elections. Our platform, which uses blockchain technology, prevents external intervention when starting the election by completing the administrative process in the central distribution system. Always be transparent while protecting voters' identities with homomorphic encryption. Our extensive testing and comparisons on our independent blockchain projects show that there is little difference between public and private blockchains. The main innovation of our solution is the provided management system using blockchain and homomorphic encryption, transparent process and stable security and self-assessment. This research contributes to the development of electronic elections to increase the security, transparency and efficiency of the democratic process.
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Skwarek, Volker. "Blockchains as security-enabler for industrial IoT-applications." Asia Pacific Journal of Innovation and Entrepreneurship 11, no. 3 (December 4, 2017): 301–11. http://dx.doi.org/10.1108/apjie-12-2017-035.
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Purpose This paper aims to describe a method for Internet-of-Things-devices to achieve industrial grade reliability for information transfer from wireless sensor systems to production systems using blockchain technologies. Design/methodology/approach An increased security and reliability of submitted data within the sensor network could be achieved on an application level. Therefore, a lightweight, high-level communication protocol based on blockchain principles was designed. Findings Blockchain mechanisms can secure the wireless communication of Internet-of-Things-devices in a lightweight and scalable manner. Originality/value The innovation of this research is the successful application of general blockchain mechanisms to increase security of a wireless sensor system without binding to a dedicated blockchain technology.
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Boakye, Elijah Asante, Hongjiang Zhao, Millicent Adu-Damoah, and Edward Amankwah. "Exploits of blockchain technology in supply chain finance: a blockchain-as-a-service perspective for Ghana’s SMEs." International Journal of Development and Economic Sustainability 10, no. 3 (March 15, 2022): 32–49. http://dx.doi.org/10.37745/ijdes.13/vol10n3pp3249.
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The implementation of blockchain technology in supply chain finance (BcSCF) offers a conducive way for entrepreneurial financing. Extending the resource-based view (RBV), a traditional perspective approach is espoused to trigger scholarly discussions, pining the development of research fronts on Blockchain-as-a-Service (BaaS) in addressing small and medium-sized enterprises (SME) financing constraints. This paper suggests that, despite the operational challenges of blockchains and the necessity to focus on core business activities, BaaS is promising, with significant efforts in terms of cost-savings, efficiency, and reliability with reduced risks. This study provides insight on BaaS contributions to fostering entrepreneurial finance as well as contributing to the literature on the accomplishments of BaaS within BcSCF provisions for particularly Ghanaian SMEs. Therefore, detailed studies into the viability of technologically-enabled types of SME finance are essential, necessitating more research. Resultantly, some forward-thinking research issues for researchers in the disciplines of innovation, technology, entrepreneurship, finance, and decision science have been presented.
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Rudytsia, Yehor, and Nataliia Bogdanova. "UML MODEL OF THE PROPERTY RIGHT DISTRIBUTION MODULE USING NFT FRACTIONALIZATION BASED ON BLOCKCHAIN TECHNOLOGY." International Science Journal of Engineering & Agriculture 1, no. 3 (August 1, 2022): 98–109. http://dx.doi.org/10.46299/j.isjea.20220103.8.
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The article proposes UML diagrams of the property right distribution module using NFT fractalization based on blockchain technology, which allow to develop software for the implementation of the modern way of fractions generation according to the ERC-1155 standard. A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party. This standard was chosen for the impossibility of offering fractions for sale on other platforms, ensuring the uniqueness of the proposed decentralized application. The main reason for the development is to create a module located on the network blockchain, ensuring the security of functionality with cryptographic algorithms from one of the most secure blockchain — Ethereum. The task of development is to implement functionality that ensures the fulfillment of all functional requirements, the most important of which are the creation of a unique NFT to the user’s property, its Fractionalization and the sale of fractions to other users.
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Burger, Christoph, and Jens Weinmann. "Blockchain Platforms in Energy Markets—A Critical Assessment." Journal of Risk and Financial Management 15, no. 11 (November 7, 2022): 516. http://dx.doi.org/10.3390/jrfm15110516.
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Compared to other applications of distributed ledger technologies, for example, in decentralized finance, non-fungible tokens, and logistics, Blockchain applications in the energy industry have not found widespread dissemination and fell short of market expectations during the Blockchain hype in the late 2010s. In semi-structured qualitative interviews with leading providers in the energy industry, conducted from 2019 to 2021, hurdles in energy applications are compared with a control group of additional interviews with representatives of companies operating in IT and FinTech. The analysis uses a framework covering technical feasibility, desirability, and economic viability, as well as the role of regulatory frameworks. The interviews reveal that the first Blockchain applications suffered from a combination of technological constraints and inter-platform competition. Due to the permissionless configuration of the early energy Blockchains, they were slow in terms of transaction speed compared to existing platforms and prices per transaction were high, in addition to high degrees of complexity related to requirements from both critical-infrastructure systems and financial market regulation. The analysis further points to the slow adoption of Blockchain applications in the energy sector being related to business models rather focusing on products and platforms as well as on transactional rather than procedural use cases, with a high degree of standardization of the offering and low levels of inclusiveness concerning processes. The move from transaction platforms to innovation platforms and the emergence of Blockchain as a service provider—plus technical advances with regards to high-frequency transactions combined with the increasing importance of use cases, such as proof of origin for fuels or e-charging—may induce a shift from pilot applications to commercialization within the larger innovation ecosystem. While the involvement of Blockchain solutions in energy markets increases with pilot projects and with this, the acceptance of players and stakeholders in the energy ecosystem, a big hurdle for innovation remains the regulation of energy markets to allow for peer-to-peer trading, a usage-driven distribution of network costs, and bottom-up pricing markets.
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Palaiokrassas, Georgios, Petros Skoufis, Orfefs Voutyras, Takafumi Kawasaki, Mathieu Gallissot, Radhouene Azzabi, Akira Tsuge, et al. "Combining Blockchains, Smart Contracts, and Complex Sensors Management Platform for Hyper-Connected SmartCities: An IoT Data Marketplace Use Case." Computers 10, no. 10 (October 16, 2021): 133. http://dx.doi.org/10.3390/computers10100133.
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In this paper, we demonstrate the multiple points of innovation when combining blockchain technology with Internet of Things (IoT) and security frameworks. The deployment and use of IoT device networks in smart city environments has produced an enormous amount of data. The fact that those data are possessed by multiple sources that use independent systems for data collection, storage, and use impedes the exploitation of their value. Blockchains, as distributed ledgers, can be used for addressing the development of a universal system for data collection and distribution. Smart contracts can be used to automate all the processes of such a network, while at the same time, blockchain and the InterPlanetary File System (IPFS) protect sensitive data through anonymity and distributed storage. An innovative and open IoT blockchain market of applications, data, and services is proposed that: (i) provides the framework upon which objects and people can exchange value in form of virtual currencies, for assets (data and services) received; (ii) defines the motivation incentives according to social and business context for humans and smart objects to interact. The specific marketplace is piloted through a cross-border trial between Santander and Fujisawa, in the context of the M-Sec project, validating thus the interoperability, efficiency, and data protection principles.
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Larikova, Tetiana, Volodymyr Ivankov, and Liudmyla Novichenko. "Implementation of blockchain technology in the system of accounting and analytical support for the public sector." Eastern-European Journal of Enterprise Technologies 5, no. 13 (125) (October 31, 2023): 77–87. http://dx.doi.org/10.15587/1729-4061.2023.290024.
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The study addressed the problem of developing a mechanism for introducing blockchain technology into the system of accounting and analytical support for public sector entities. In the course of the research, the volumes and types of financial violations by public sector entities were analyzed. Identified violations were committed by public sector entities, and their significant share fell on the system of accounting and analytical support, in particular, financial reporting, budget execution. Legal restrictions on the introduction of blockchain technology for public sector entities were outlined. The absence of a number of acts in the field of digitization, protection of state secrets, cyber security, international standards, etc. in the legal field was established. The characteristics and mechanisms of blockchain technology were described, the types of blockchains based on permission models (open, closed) were defined. The technological characteristics of the use of blockchain platforms in the system of accounting and analytical support of public sector entities have been determined. The need to use blockchain applications such as smart contracts was indicated. It is noted that the use of smart contracts can be developed on blockchain platforms such as Ethereum, NXT, and Hyperledger; their key characteristics were described. A comparative description of transactions of state funds in the traditional accounting system and with the use of blockchain systems is given. The problem of the materiality of the transaction cost when transferring large volumes of data was outlined using the Ethereum platform as an example; its shortcomings were identified. The development of a mechanism for introducing blockchain technology into the system of accounting and analytical support using the Hyperledger platform, which has an open-source community focused on the development of a set of stable frameworks, tools, and libraries for deploying enterprise-level blockchains, was described. The advantages and disadvantages of introducing blockchain technology into the system of accounting and analytical support have been determined.
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Das, Sourav, Nitin Awathare, Ling Ren, Vinay J. Ribeiro, and Umesh Bellur. "Tuxedo: Maximizing Smart Contract Computation in PoW Blockchains." Proceedings of the ACM on Measurement and Analysis of Computing Systems 5, no. 3 (December 14, 2021): 1–30. http://dx.doi.org/10.1145/3491053.
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Proof-of-Work (PoW) based blockchains typically allocate only a tiny fraction (e.g., less than 1% for Ethereum) of the average interarrival time (I) between blocks for validating smart contracts present in transactions. In such systems, block validation and PoW mining are typically performed sequentially, the former by CPUs and the latter by ASICs. A trivial increase in validation time (τ) introduces the popularly known Verifier's Dilemma, and as we demonstrate, causes more forking and hurts fairness. Large τ also reduces the tolerance for safety against a Byzantine adversary. Solutions that offload validation to a set of non-chain nodes (a.k.a. off-chain approaches) suffer from trust and performance issues that are non-trivial to resolve. In this paper, we present Tuxedo, the first on-chain protocol to theoretically scale τ/I ≈1 in PoW blockchains. The key innovation in Tuxedo is to perform CPU-based block processing in parallel to ASIC mining. We achieve this by allowing miners to delay validation of transactions in a block by up to ζ blocks, where ζ is a system parameter. We perform security analysis of Tuxedo considering all possible adversarial strategies in a synchronous network with maximum end-to-end delay Δ and demonstrate that Tuxedo achieves security equivalent to known results for longest chain PoW Nakamoto consensus. Our prototype implementation of Tuxedo atop Ethereum demonstrates that it can scale τ without suffering the harmful effects of naive scaling up of τ/I in existing blockchains
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Das, Sourav, Nitin Awathare, Ling Ren, Vinay J. Ribeiro, and Umesh Bellur. "Tuxedo." ACM SIGMETRICS Performance Evaluation Review 50, no. 1 (June 20, 2022): 63–64. http://dx.doi.org/10.1145/3547353.3522638.
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Proof-of-Work~(PoW) based blockchains typically allocate only a tiny fraction (e.g., less than 1% for Ethereum) of the average interarrival time~$\mathbbI $ between blocks for validating smart contracts present in transactions. In such systems, block validation and PoW mining are typically performed sequentially, the former by CPUs and the latter by ASICs. A trivial increase in validation time~$(τ)$ introduces the popularly known Verifier's Dilemma, and as we demonstrate, causes more forking and hurts fairness. Large τ also reduces the tolerance for safety against a Byzantine adversary. Solutions that offload validation to a set of non-chain nodes (a.k.a. off-chain approaches) suffer from trust and performance issues that are non-trivial to resolve. In this paper, we present Tuxedo, the first on-chain protocol to theoretically scale τ/\mathbbI \approx 1$ in PoW blockchains. The key innovation in Tuxedo is to perform CPU-based block processing in \em parallel to ASIC mining. We achieve this by allowing miners to delay validation of transactions in a block by up to ζ blocks, where ζ is a system parameter. We perform security analysis of Tuxedo considering all possible adversarial strategies in a synchronous network with maximum end-to-end delay Δ and demonstrate that Tuxedo achieves security equivalent to known results for longest chain PoW Nakamoto consensus. Our prototype implementation of Tuxedo atop Ethereum demonstrates that it can scale τ without suffering the harmful effects of naïve scaling up of τ/\mathbbI $ in existing blockchains.
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Lasmoles, Olivier, and Mamadou T. Diallo. "Impacts of Blockchains on International Maritime Trade." Journal of Innovation Economics & Management N° 37, no. 1 (January 7, 2022): 91–116. http://dx.doi.org/10.3917/jie.pr1.0114.
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Zamani, Efpraxia D., and George M. Giaglis. "With a little help from the miners: distributed ledger technology and market disintermediation." Industrial Management & Data Systems 118, no. 3 (April 9, 2018): 637–52. http://dx.doi.org/10.1108/imds-05-2017-0231.
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Purpose The purpose of this paper is to argue for the role of the blockchain, i.e., distributed ledger technology, in building innovative business models, including machine money, autonomous economic agents and decentralised organisations. Design/methodology/approach The paper is conceptual/argumentative. As such, it draws on research on (e-)commerce, theories of markets, disruptive innovation and extant studies and conceptual work at the intersection of cryptocurrencies, machine-to-machine commerce and the Internet of Things. Findings The authors highlight three application areas for blockchains, whereby they can function as applications, can help develop autonomous economic agents and can lead the development of decentralised autonomous organisations. With regards to the question of market disintermediation, the authors suggest that, rather than complete disintermediation, the most probable scenario is that of new types of intermediaries finding previously unthinkable roles to play in mediating blockchain-based economic transactions. With regards to the inhibitors that slow down the technology’s adoption and, therefore, the development of new business applications, the authors posit that these relate mainly to the inherent risk of the technology, infrastructure requirements, scepticism of early decision makers and the lack of required new skills and competencies. Originality/value The authors examine how new forms of digital money and technologies embedding trust in decentralised networks will alter markets and commerce, at a time when many regulatory issues remain unresolved; in doing so, the authors focus on how blockchain-enabled technologies can be used to enable and further develop decentralised trusted peer-to-peer transaction ledger systems and applications and lead to sustainable business models.
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Wong, Lai-Wan, Garry Wei-Han Tan, Keng-Boon Ooi, and Hing Kai Chan. "Blockchains for SMEs: A Fit-Viability perspective moderated by organizational innovation diffusion for supply chain performance." Transportation Research Part E: Logistics and Transportation Review 182 (February 2024): 103396. http://dx.doi.org/10.1016/j.tre.2023.103396.
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Baig, Ahad Mirza, Alkida Balliu, Peter Davies, and Michal Dory. "PODC 2020 Review." ACM SIGACT News 51, no. 4 (December 14, 2020): 75–81. http://dx.doi.org/10.1145/3444815.3444827.
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Rachid Guerraoui was the rst keynote speaker, and he got things o to a great start by discussing the broad relevance of the research done in our community relative to both industry and academia. He rst argued that, in some sense, the fact that distributed computing is so pervasive nowadays could end up sti ing progress in our community by inducing people to work on marginal problems, and becoming isolated. His rst suggestion was to try to understand and incorporate new ideas coming from applied elds into our research, and argued that this has been historically very successful. He illustrated this point via the distributed payment problem, which appears in the context of blockchains, in particular Bitcoin, but then turned out to be very theoretically interesting; furthermore, the theoretical understanding of the problem inspired new practical protocols. He then went further to discuss new directions in distributed computing, such as the COVID tracing problem, and new challenges in Byzantine-resilient distributed machine learning. Another source of innovation Rachid suggested was hardware innovations, which he illustrated with work studying the impact of RDMA-based primitives on fundamental problems in distributed computing. The talk concluded with a very lively discussion.
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Drljevic, Nusi, Daniel Arias Aranda, and Vladimir Stantchev. "An Integrated Adoption Model to Manage Blockchain-Driven Business Innovation in a Sustainable Way." Sustainability 14, no. 5 (March 1, 2022): 2873. http://dx.doi.org/10.3390/su14052873.
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Blockchain technology has the potential to drive innovations across various industries, businesses, and use cases. It is broadly recognized that innovation is a vital source of competitive advantage in a rapidly changing environment. High expectations surround blockchain’s potential for contributing to sustainable economic and social development. However, current blockchain projects still show high failure rates. The associated side effects of such failure rates generate a negative impact on economic and social sustainability performances such as corporate governance, risk management, finance management, human resources and culture management, and competitiveness. This paper assesses adoption models and their risk and success factors. Building on a novel, integrated adoption model to operationalize, measure and manage blockchain-driven business innovation in a sustainable way, we assessed its applicability with an empirical study across 20 industry sectors and 125 business leaders. The results reveal that the developed adoption model holds the potential to support the sustainable usage of blockchain technology for business innovations, not limited to a specific industry or use case. Further case studies and industry activities can be carried out to continue its validation in future works.
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Islam, A. K. M. Najmul, Matti Mäntymäki, and Marja Turunen. "Why do blockchains split? An actor-network perspective on Bitcoin splits." Technological Forecasting and Social Change 148 (November 2019): 119743. http://dx.doi.org/10.1016/j.techfore.2019.119743.
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Azan, Wilfrid, Yuan Li, and Georges Cavalier. "From information systems to blockchains – Convergence of legal, fiscal, economic and management sciences." Systèmes d'information & management Volume 26, no. 4 (May 2, 2022): 117–23. http://dx.doi.org/10.3917/sim.214.0117.
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Chung, Kenneth Hsien Yung, Dan Li, and Peter Adriaens. "Technology-enabled financing of sustainable infrastructure: A case for blockchains and decentralized oracle networks." Technological Forecasting and Social Change 187 (February 2023): 122258. http://dx.doi.org/10.1016/j.techfore.2022.122258.
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Kigombola, Anthony, Mercy Mbise, and Prosper Mafole. "On Blockchain Performance Enhancement: A Systematic Map of Strategies Used." Tanzania Journal of Engineering and Technology 41, no. 3 (December 11, 2022): 29–37. http://dx.doi.org/10.52339/tjet.v41i3.842.
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Blockchain technology is one among the recent innovations in the computing industry. Blockchains have gathered a widespread interest in the industry mainly due to their security promise. Despite the anticipated benefits of Blockchains, there are several limitations which make the technology less suitable in large scale applications such as banking, one being low throughput. Several initiatives to improve the throughput of Blockchains are being tried out both in the academia and the business worlds but no systematic classification of the initiatives and the strategies used has been done. This study explores Blockchain performance improvement initiatives and classify the initiatives by the improvement strategy used. This study has found that, out of 365 articles on the area of Blockchain performance, 300 were solution proposals aimed at improving the performance of Blockchains. The most used strategies in these proposals were alternative to PoW, sharding and multi-chain architecture.
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Lone, Auqib Hamid, and Roohie Naaz. "Evaluating Quality-of-Service in Blockchains Using Modelling and Simulation Tools." International Journal of Computing and Digital Systems 10, no. 1 (January 1, 2021): 29–36. http://dx.doi.org/10.12785/ijcds/100103.
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Shinde, Rucha, Shruti Patil, Ketan Kotecha, and Kirti Ruikar. "Blockchain for Securing AI Applications and Open Innovations." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 3 (August 14, 2021): 189. http://dx.doi.org/10.3390/joitmc7030189.
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Nowadays, open innovations such as intelligent automation and digitalization are being adopted by every industry with the help of powerful technology such as Artificial Intelligence (AI). This evolution drives systematic running processes, involves less overhead of managerial activities and increased production rate. However, it also gave birth to different kinds of attacks and security issues at the data storage level and process level. The real-life implementation of such AI-enabled intelligent systems is currently plagued by the lack of security and trust levels in system predictions. Blockchain is a prevailing technology that can help to alleviate the security risks of AI applications. These two technologies are complementing each other as Blockchain can mitigate vulnerabilities in AI, and AI can improve the performance of Blockchain. Many studies are currently being conducted on the applicability of Blockchains for securing intelligent applications in various crucial domains such as healthcare, finance, energy, government, and defense. However, this domain lacks a systematic study that can offer an overarching view of research activities currently going on in applying Blockchains for securing AI-based systems and improving their robustness. This paper presents a bibliometric and literature analysis of how Blockchain provides a security blanket to AI-based systems. Two well-known research databases (Scopus and Web of Science) have been examined for this analytical study and review. The research uncovered that idea proposals in conferences and some articles published in journals make a major contribution. However, there is still a lot of research work to be done to implement real and stable Blockchain-based AI systems.
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Hartley, Janet L., William Sawaya, and David Dobrzykowski. "Exploring blockchain adoption intentions in the supply chain: perspectives from innovation diffusion and institutional theory." International Journal of Physical Distribution & Logistics Management 52, no. 2 (December 27, 2021): 190–211. http://dx.doi.org/10.1108/ijpdlm-05-2020-0163.
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PurposeDespite blockchain's potential supply chain benefits, few organizations have moved beyond pilot projects. The paper aims to explore blockchain adoption intentions for supply chain applications using two theoretical perspectives: innovation diffusion theory (IDT) and institutional theory (IT).Design/methodology/approachBased on theory, five propositions were developed addressing the intention to adopt blockchain. The propositions were tested using scenario-based experiments with supply chain professionals. To provide additional insights, interviews with 21 supply chain professionals in 15 organizations representing 8 industries were content analyzed.FindingsExperiments suggest that the intention to adopt blockchain is higher when there are government regulations regarding product origin, organizations are using updated cloud-based information systems and organizations are working with third-party consultants. The content analysis suggests that organizations that face normative pressures to adopt blockchain supply chain applications and recognize blockchain's relative advantage, compatibility and complexity are more likely to be actively seeking information about and adopting blockchain supply chain applications. The authors synthesize findings and provide new propositions to guide future research.Originality/valueUsing a multi-method approach, the study provides an important window into supply chain managers' perceptions of the necessary conditions to support organization-level blockchain adoption. The findings also indicate key characteristics present in supply chain networks poised for blockchain adoption.
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Anitha, R., and Dinesh Rai. "Internet of things with artificial intelligence detection and blockchains of crop availability for supply chain management." International Journal of Knowledge-Based Development 12, no. 3/4 (2022): 444. http://dx.doi.org/10.1504/ijkbd.2022.128909.
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Rai, Dinesh, and Anitha Rajendran. "Internet of Things with Artificial Intelligence Detection with Blockchains of Crop Availability for Supply Chain Management." International Journal of Knowledge-Based Development 12, no. 3/4 (2023): 1. http://dx.doi.org/10.1504/ijkbd.2023.10052989.
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Bakri, Asri Ady, Eko Sudarmanto, Novela Deva Puasa Sucifa Fitriansyah, Arief Yanto Rukmana, and Eva Yuniarti Utami. "Blockchain Technology and its Disruptive Potential in the Digital Economy." West Science Journal Economic and Entrepreneurship 1, no. 03 (August 28, 2023): 116–23. http://dx.doi.org/10.58812/wsjee.v1i03.165.
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Blockchain technology's disruptive potential in the digital economy has spurred a surge in scholarly interest, leading to a complex landscape of research endeavors. This study employs a comprehensive bibliometric analysis to illuminate the multifaceted dimensions of blockchain's impact. Through analysis techniques and visualization tools, including VOSviewer, we uncover publication trends, influential authors, research themes, collaboration networks, and the interdisciplinary nature of blockchain research. The results reveal a steady increase in publications over the past decade, indicating growing recognition of blockchain's significance. Influential authors emerge as key contributors, shaping the research discourse and driving innovation. Diverse research themes, ranging from fintech and digital transformation to cryptocurrencies and smart contracts, underscore blockchain's applications across various sectors. Collaborative networks highlight the emergence of focused communities, fostering interdisciplinary insights. The integration of VOSviewer facilitates an exploration of these insights, offering a nuanced perspective on blockchain's disruptive potential. Our analysis contributes to a deeper understanding of the evolving landscape, informing researchers, practitioners, policymakers, and stakeholders navigating the complexities of blockchain technology in the digital economy.
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Osato Itohan Oriekhoe, Ganiyu Bolawale Omotoye, Oluwaseun Peter Oyeyemi, Sunday Tubokirifuruar Tula, Andrew Ifesinachi Daraojimba, and Adedayo Adefemi. "BLOCKCHAIN IN SUPPLY CHAIN MANAGEMENT: A SYSTEMATIC REVIEW: EVALUATING THE IMPLEMENTATION, CHALLENGES, AND FUTURE PROSPECTS OF BLOCKCHAIN TECHNOLOGY IN SUPPLY CHAINS." Engineering Science & Technology Journal 5, no. 1 (January 19, 2024): 128–51. http://dx.doi.org/10.51594/estj.v5i1.732.
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This study presents a comprehensive analysis of the implementation, challenges, and future prospects of blockchain technology in supply chain management (SCM). Amidst the evolving landscape of global supply chains, the integration of blockchain technology has emerged as a pivotal innovation, offering transformative potential in enhancing transparency, efficiency, and security. The advent of blockchain technology has revolutionized traditional supply chain systems, introducing new paradigms of operation and management. This study explores the historical evolution of SCM systems and the comparative effectiveness of blockchain-based models against traditional systems. The primary aim is to systematically review and synthesize current research on blockchain in SCM, focusing on its implementation, inherent challenges, and future development prospects. The paper delves into various aspects of blockchain in SCM, including its current state of implementation across industries, the challenges and solutions in adoption, comparative performance analysis with non-blockchain systems, emerging trends, stakeholder perspectives, and geographical variations in adoption. Strategic implications for businesses, pathways for effective implementation, and policy recommendations are also thoroughly examined.The study identifies blockchain's significant impact on enhancing supply chain transparency and efficiency. Key challenges include technological barriers, regulatory uncertainties, and the need for stakeholder collaboration. The research highlights the strategic advantage of blockchain in supply chains, particularly in terms of cost reduction, operational effectiveness, and environmental sustainability. The study concludes with a call for a multi-faceted approach to blockchain integration in SCM, emphasizing collaborative efforts, educational advancements, infrastructural support, and policy development. Recommendations are geared towards leveraging blockchain's potential for competitive advantage and sustainable supply chain practices.
Keywords: Blockchain, Supply Chain Management, Technology Adoption, Strategic Implications, Innovation, Sustainability.
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Kigombola, Anthony, Mercy Mbise, and Prosper Mafole. "Path of Trust: An Off-Chain Performance Enhancement Algorithm for Public Blockchains." Tanzania Journal of Engineering and Technology 42, no. 2 (June 30, 2023): 44–54. http://dx.doi.org/10.52339/tjet.v42i2.876.
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Blockchain technology is one among the latest innovations in computing industry. Blockchains have gathered widespread interest in the industry due to their potential as secure data storage. Despite the potential benefits of blockchains, there are several limitations which hinders mass deployment, one of these limitations being low throughput. Low throughput has limited blockchain adoption in large scale applications such as banking or mobile payments. This study addresses this limitation through development of a performance enhancement algorithm called Path of Trust (PoT). PoT uses off-chain stratergy in which transactions meeting certain criteria bypass the main chain and sent direct to the recipient. The PoT algorithm was incorporated into a blockchain wallet that was developed as a mobile app. Experiments were run to verify the performance of the developed solution. Based on the experiments performed, the performance of the blockchain based on the developed solution was improved when compared to the original blockchain. With PoT algorithm running, the average transaction processing time was 12.81 secs per transaction compared to 18.52 secs when PoT was not running.
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Bennet, Daniel, Lily Maria, Yulia Putri Ayu Sanjaya, and Achani Rahmania Az Zahra. "Blockchain Technology: Revolutionizing Transactions in the Digital Age." ADI Journal on Recent Innovation (AJRI) 5, no. 2 (March 31, 2024): 194–99. http://dx.doi.org/10.34306/ajri.v5i2.1065.
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Blockchain technology emerges as a transformative innovation reshaping traditional transactional processes, eliminating intermediaries, enhancing security, and improving trust through its decentralized and transparent ledger system. However, challenges such as scalability and regulatory concerns hinder widespread adoption. Concrete examples and statistics from research enhance clarity regarding Blockchain's impacts, elaborating on how these challenges directly affect the adoption of Blockchain Technology in digital transactions. By analyzing case studies and current trends, this research underscores the efficiency and reliability of Blockchain implementation compared to traditional methods, advocating for widespread adoption to foster transparency, efficiency, and trust across diverse sectors. It emphasizes the necessity for organizations to adapt to stay competitive in the increasingly complex digital landscape, suggesting that a better understanding of Blockchain's impacts and challenges will aid organizations in taking strategic steps towards its long-term adoption.
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Philip Olaseni Shoetan and Babajide Tolulope Familoni. "BLOCKCHAIN'S IMPACT ON FINANCIAL SECURITY AND EFFICIENCY BEYOND CRYPTOCURRENCY USES." International Journal of Management & Entrepreneurship Research 6, no. 4 (April 17, 2024): 1211–35. http://dx.doi.org/10.51594/ijmer.v6i4.1032.
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Blockchain technology, originally developed for digital currencies, has evolved to offer transformative prospects for enhancing financial security and efficiency beyond its initial application. This review paper explores the expansive utility of blockchain technology across various domains, with a special focus on its implications for green logistics innovations within the oil industry, drawing a comparative analysis between Nigeria and the USA. Through a comprehensive review of existing literature, this study aims to uncover the multifaceted impact of blockchain on streamlining operations, ensuring transparency, and fostering sustainability in the oil sector's supply chain management.
The methodology hinges on synthesizing findings from peer-reviewed articles, industry reports, and case studies to construct a holistic view of blockchain's role in mitigating traditional challenges faced by the oil industry, such as fraud, inefficiencies, and environmental concerns. By comparing the progress and setbacks in Nigeria and the USA, the paper delineates the influence of regulatory frameworks, technological infrastructure, and stakeholder engagement on the adoption and effectiveness of blockchain solutions.
Key findings reveal that blockchain technology can significantly elevate financial security and operational efficiency, offering a robust framework for transparent, immutable transactions and supply chain oversight. However, the comparative analysis highlights a notable divergence in adoption levels and outcomes, attributed to varying degrees of technological readiness, regulatory environments, and commitment to sustainability goals between the two countries.
Conclusively, the paper emphasizes that the broader application of blockchain in enhancing green logistics and sustainability within the oil industry requires a concerted effort among policymakers, industry leaders, and technology providers. It advocates for targeted investments in technology infrastructure, clearer regulatory guidelines, and stronger collaborations to harness blockchain's full potential, suggesting a pathway towards more secure, efficient, and sustainable industry practices.
Keywords: Blockchain Technology, Financial Services, Smart Contracts, Decentralized Finance (Defi), Regulatory Landscape, Ethical Considerations, Privacy Concerns, Data Protection, User Anonymity, Operational Efficiency, Financial Security, Scalability Issues, Energy Consumption, Consensus Mechanisms, International Regulations, Jurisdiction-Specific Challenges, Technology Adoption, Integration Strategies, Innovation, Collaboration, Financial Ecosystem.
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Moro Visconti, Roberto. "Combining network theory with corporate governance: Converging models for connected stakeholders." Corporate Ownership and Control 17, no. 1 (2019): 125–39. http://dx.doi.org/10.22495/cocv17i1art12.
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Traditional corporate governance patterns are based on the interaction among composite stakeholders and the various forms of separation between ownership and control. Stakeholders cooperate around the Coasian firm represented by a nexus of increasingly complex contracts. These well-known occurrences have been deeply investigated by growing literature and nurtured by composite empirical evidence. Apparently, unrelated network theory is concerned with the study of graphs as a representation of (a)symmetric relations between discrete objects (nodes connected by links). Network theory is highly interdisciplinary, and its versatile nature is fully consistent with the complex interactions of (networked) stakeholders, even in terms of game-theoretic patterns. The connection between traditional corporate governance issues and network theory properties is, however, still under-investigated. Hence the importance of an innovative reinterpretation that brings to “network governance”. Innovation may, for instance, concern the principal-agent networked relationships and their conflicts of interest or the risk contagion and value drivers – three core governance issues. Networks and their applications (like blockchains, P2P platforms, game-theoretic interactions or digital supply chains) foster unmediated decentralization. In decentralized digital platforms stakeholders inclusively interact, promoting cooperation and sustainability. To the extent that network properties can be mathematically measured, governance issues may be quantified and traced with recursive patterns of expected occurrences.