The impact of the Blockchain technology on the global Sukuk industry: smart contracts and asset tokenisation

2021 ◽  
pp. 1-15
Author(s):  
Andrea Delle Foglie ◽  
Ida Claudia Panetta ◽  
Elias Boukrami ◽  
Gianfranco Vento
Keyword(s):  
Smart Contracts ◽  
Blockchain Technology ◽  
The Impact

Using Blockchain for Smart Contracts

2021 ◽  
pp. 208-221
Author(s):  
Sara Jeza Alotaibi
Keyword(s):  
Current System ◽  
Peer To Peer ◽  
Digital Transformation ◽  
Smart Contracts ◽  
Bank Management ◽  
Central Focus ◽  
Blockchain Technology ◽  
New Form ◽  
The Impact ◽  
Modern Technologies

Today's era of globalization and digital transformation has produced many modern technologies that have influenced modern societies, blockchain being one. This chapter will set out definitions and criteria related to what blockchain is, its advantages and limitations, and its relation to the modern techniques used in the conclusion of smart contracts; and the impact of this technology on fighting administrative and financial corruption. Within this chapter, the central focus is on a new form of contracts founded as a result of the challenge of aligning the current system of the contract with the application of blockchain technology (i.e., to replace the idea of credit intermediation in dealing [notary, bank, management] with another thought based on a peer-to-peer system to increase contractual security and to establish the principle of self-implementation of the contract without the need to mediate with others).

A Comprehensive Review of the Security and Privacy Issues in Blockchain Technologies

2022 ◽  
pp. 180-199
Author(s):  
Mangesh Manikrao Ghonge ◽  
N. Pradeep ◽  
Renjith V. Ravi ◽  
Ramchandra Mangrulkar
Keyword(s):  
Economic Models ◽  
New Age ◽  
Security And Privacy ◽  
Smart Contracts ◽  
Comprehensive Review ◽  
Blockchain Technology ◽  
Application Potential ◽  
The Impact ◽  
Privacy Issues ◽  
Comprehensive Study

The development of blockchain technology relies on a variety of disciplines, including cryptography, mathematics, algorithms, and economic models. All cryptocurrency transactions are recorded on a digital and decentralized public ledger known as the blockchain. Customers may keep track of their crypto-transactions by looking at a chronological list rather than a centralized ledger. The blockchain's application potential is bright, and it has already produced results. In various fields, blockchain technology has been incorporated and deployed, from the earliest days of cryptocurrencies to the present day with new-age smart contracts. No comprehensive study on blockchain security and privacy has yet been done despite numerous studies in this area over the years. In this chapter, the authors talked about blockchain's security and privacy issues as well as the impact they've had on various trends and applications. This chapter covers both of these topics.

scholarly journals Blockchain Use Cases Revisited: Micro-Lending Solutions for Retail Banking and Financial Inclusion

2021 ◽  
Vol 9 (1) ◽  
pp. 1-15
Author(s):  
Christian Hugo Hoffmann
Keyword(s):  
Energy Consumption ◽  
Retail Banking ◽  
Financial Inclusion ◽  
Small Scale ◽  
Smart Contracts ◽  
Short Term ◽  
High Frequencies ◽  
Blockchain Technology ◽  
The Impact

Abstract While blockchain technology is commonly considered potentially disruptive in various regards, there is a lack of understanding where and how blockchain technology is effectively applicable and where it has remarkable practical effects[1]. Against this background, we present and discuss a case study at length on the impact of this technology in the concrete setting of small short-term loans in retail banking. We propose to banks a robust and scalable blockchain technology with proof of stake and limited energy consumption used to streamline their processes, resulting in lower transaction and administration costs. This is made possible by smart contracts. Thereby, we facilitate small scale lending at high frequencies and short-term duration as well as an easier and more efficient way to connect small borrowers and lenders.

scholarly journals Juridical Status of So-called Smart Contracts against the Background of the Polish Legal Framework

2019 ◽  
Vol 13 (2) ◽  
pp. 189-218
Author(s):  
Bogna Kaczorowska
Keyword(s):  
Technological Innovation ◽  
Legal Framework ◽  
Contract Law ◽  
Practical Implementation ◽  
Smart Contracts ◽  
Current Development ◽  
Law System ◽  
Blockchain Technology ◽  
Legal Implications ◽  
The Impact

Among substantial advancements challenging contemporary contract law special attention is given to autonomous, cryptographic solutions based on decentralised infrastructure provided by blockchain technology, intended to execute transactions automatically, designated as smart contracts. The need for comprehensive research on legal implications of practical implementation of this technological innovation is triggered particularly by the prognostications declaring it a valid alternative to hitherto contract law framework that is expected to be ultimately replaced by algorithmic mechanisms underpinning smart contracts.A relevant assessment of the impact smart contracts are presumed to have on the contract law domain requires a thorough analysis of their juridical status. The specificity of the category of smart contracts raises doubts whether they comply with the definition criteria inherent to contract law terminology. Additionally, it is of material importance to determine the function smart contracts can perform in the sphere of contractual practice and to confront it with the role and axiology of contract law.The article aims at analysing the peculiarities of smart contracts from the perspective of the Polish private law system with account being also taken of current development tendencies concerning the concept of contract.

scholarly journals The Impact of the Digital Transformation of Business on Corporate Governance. An Overview of Recent Studies

2019 ◽  
Vol 13 (3) ◽  
pp. 35-47
Author(s):  
Ilya Ivaninskiy
Keyword(s):  
Corporate Governance ◽  
Boards Of Directors ◽  
Quantitative Research ◽  
Business Processes ◽  
Research Field ◽  
Current Status ◽  
Principal Agent ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
The Impact

This article presents a survey of recent studies on the impact of digitalisation, and particularly blockchain technology, oncorporate governance and the principal-agent conflict in companies. The principal-agent conflict has been a centerpieceof the corporate governance research for more than 40 years. However, recent technological developments, andblockchain in particular, has created new avenues for exploration.We survey the implications of blockchain for the principal-agent conflict in three parts: 1) the organisationalenvironment, and the creation of the conflict; 2) common observable instances of conflict; 3) actions necessary tomaximise the value of blockchain implementation. We limit the studied conflict to the relationship between shareholdersand management. We also limit the blockchain use cases to those currently in testing. The applications for blockchain insecurities trading and for corporate functions automation via ‘smart’ contracts are both analysed. We also evaluate theimplications for investor activism.Our results indicate that passive investor behaviour is at the core of the environment that creates conflict. One of thekey drivers of low activity is a non-transparent voting process resulting in low participation rates. Studies indicate thatblockchain can solve this issue, thus mitigating the conflict, and is an attractive proposition for board members. Themost frequent instances of conflict are related to the composition of boards of directors and compensation schemesobserved at shareholder voting. Using blockchain for settlement would eliminate ambiguity in shareholder registersand prevent such strategies as “empty voting”. Smart contracts promise automation of governance functions like audit,which also weakens conflict. Even skeptics agree that voting is a promising application for blockchain. However, thereis evidence that blockchain poses its own problems, and that smart contracts are associated with practical risks. Somecritics argue that blockchain is less efficient than conventional corporate procedures.Blockchain is among the top digital technologies that business leaders have to monitor closely. As such, this overview ofthe most up-to-date thinking on the subject is relevant for anyone interested in the future of corporate governance andthe digitalisation of business processes. This evaluation serves to highlight the current status of this innovative resource,outlining for both professionals and newcomers what exactly blockchain’s potential uses and implications are, while alsooutlining where a lack of quantitative research creates opportunities for further contributions to the research field. Thisstudy will also be instructive for those investigating blockchain implementation and the optimal characteristics of thesolution.

scholarly journals Third Party Certification of Agri-Food Supply Chain Using Smart Contracts and Blockchain Tokens

Sensors ◽  
2021 ◽  
Vol 21 (16) ◽  
pp. 5307
Author(s):  
Ricardo Borges dos Santos ◽  
Nunzio Marco Torrisi ◽  
Rodrigo Palucci Pantoni
Keyword(s):  
Supply Chain ◽  
Mobile Application ◽  
Consumer Behaviour ◽  
Economic Incentives ◽  
Third Party ◽  
Smart Contracts ◽  
Proof Of Concept ◽  
Socially Responsible ◽  
The Public ◽  
Blockchain Technology

Every consumer’s buying decision at the supermarket influences food brands to make first party claims of sustainability and socially responsible farming methods on their agro-product labels. Fine wines are often subject to counterfeit along the supply chain to the consumer. This paper presents a method for efficient unrestricted publicity to third party certification (TPC) of plant agricultural products, starting at harvest, using smart contracts and blockchain tokens. The method is capable of providing economic incentives to the actors along the supply chain. A proof-of-concept using a modified Ethereum IGR token set of smart contracts using the ERC-1155 standard NFTs was deployed on the Rinkeby test net and evaluated. The main findings include (a) allowing immediate access to TPC by the public for any desired authority by using token smart contracts. (b) Food safety can be enhanced through TPC visible to consumers through mobile application and blockchain technology, thus reducing counterfeiting and green washing. (c) The framework is structured and maintained because participants obtain economical incentives thus leveraging it´s practical usage. In summary, this implementation of TPC broadcasting through tokens can improve transparency and sustainable conscientious consumer behaviour, thus enabling a more trustworthy supply chain transparency.

Accounting Information Systems in Public Sector towards Blockchain Technology Application: The Role of Accountants’ Emotional Intelligence in the Digital Age

2021 ◽  
Vol 12 (1) ◽  
pp. 73-94
Author(s):  
Pham Quang Huy ◽  
Vu Kien Phuc
Keyword(s):  
Emotional Intelligence ◽  
Public Sector ◽  
New Technology ◽  
Accounting Information ◽  
Accounting Information System ◽  
Accounting Information Systems ◽  
Technology Application ◽  
Public Sector Organization ◽  
Blockchain Technology ◽  
The Impact

Abstract This research ferreted out to inspect the interconnection between emotional intelligence (EI), Blockchain technology application (BLO) and the effectiveness of Accounting information system (AIS). Survey-based data obtained from 412 respondents were applied to validate the model hypotheses. Building on the statistical analysis with the support of SPSS 25.0 and SMART- PLS (partial least squares) 3.2.8 software package, the model results inferred the impact of EI on BLO. Besides, the outputs of the study accentuated on the importance of BLO on the effectiveness of AIS. These significant additions will optimistically inspire other scholars to carry on exploring the relationship between EI and BLO in enhancing the effectiveness of AIS in research settings as well as in explaining the results. On the other hand, taking these results into consideration could promote much better solutions for issues relevant to EI and new technology application among public sector organization (PSO) in term of increasing the performance of AIS.

Trends in the Development of Electronic Document Management: Prospects, Problems, Opportunities

2021 ◽  
Vol 27 (12) ◽  
pp. 963-970
Author(s):  
S. A. Zhutyaeva ◽  
T. A. Lysova
Keyword(s):  
Artificial Intelligence ◽  
Legal Status ◽  
Business Processes ◽  
Document Management ◽  
Electronic Document ◽  
Work Processes ◽  
Blockchain Technology ◽  
Electronic Document Management ◽  
Corporate System ◽  
The Impact

Aim. The presented study aims to determine the role and place of electronic document management in the corporate system of Russian enterprises, outlining the prospects for its development.Tasks. The authors examine the legislative acts of the Russian Federation on the prospects for the implementation of electronic document management; assess the impact of the pandemic on the digitalization of document management; analyze the business costs of paper document management; identify the advantages of using electronic document management and promising technologies in document processing.Methods. This study uses theoretical and empirical research methods. The dialectic method is used to determine the role, significance, and legal status of electronic document management. Through a logical approach, the essence of such concepts as 'electronic document' and 'electronic document management' is identified.Results. The study presents directions for the development of electronic document management using blockchain technology, which will improve workflows by processing, sorting, exchanging data and documents protected from unauthorized access, and artificial intelligence, which can help organizations process documents faster by simplifying operational procedures. Obstacles that prevent companies from actively using electronic document management are identified. These include additional investment, time costs, and reorganization of management. The volume of innovative services is analyzed by the type of economic activity, and the costs of creating, storing, and processing paper documents are considered.Conclusions. Recent trends in legislation indicate the government's firm commitment to the speedy introduction of electronic document management in Russia. Its use frees up a lot of resources, including time, labor, and finances. The 2020 pandemic has emphasized the importance of digitalizing business processes to ensure their continuity in unforeseen situations. Integrated into the automation of work processes, blockchain technology will ensure the protection of information from unauthorized tampering. Artificial intelligence will open up new opportunities for processing electronic documents.

scholarly journals Blockchain in Health Care Innovation: Literature Review and Case Study From a Business Ecosystem Perspective (Preprint)

2020 ◽  
Author(s):  
Shuchih Ernest Chang ◽  
YiChian Chen
Keyword(s):  
Health Care ◽  
Life Cycle ◽  
Literature Review ◽  
Case Studies ◽  
Paradigm Shift ◽  
Potential Health ◽  
Business Ecosystem ◽  
Blockchain Technology ◽  
The Impact

BACKGROUND Blockchain technology is leveraging its innovative potential in various sectors and its transformation of business-related processes has drawn much attention. Topics of research interest have focused on medical and health care applications, while research implications have generally concluded in system design, literature reviews, and case studies. However, a general overview and knowledge about the impact on the health care ecosystem is limited. OBJECTIVE This paper explores a potential paradigm shift and ecosystem evolution in health care utilizing blockchain technology. METHODS A literature review with a case study on a pioneering initiative was conducted. With a systematic life cycle analysis, this study sheds light on the evolutionary development of blockchain in health care scenarios and its interactive relationship among stakeholders. RESULTS Four stages—birth, expansion, leadership, and self-renewal or death—in the life cycle of the business ecosystem were explored to elucidate the evolving trajectories of blockchain-based health care implementation. Focused impacts on the traditional health care industry are highlighted within each stage to further support the potential health care paradigm shift in the future. CONCLUSIONS This paper enriches the existing body of literature in this field by illustrating the potential of blockchain in fulfilling stakeholders’ needs and elucidating the phenomenon of coevolution within the health care ecosystem. Blockchain not only catalyzes the interactions among players but also facilitates the formation of the ecosystem life cycle. The collaborative network linked by blockchain may play a critical role on value creation, transfer, and sharing among the health care community. Future efforts may focus on empirical or case studies to validate the proposed evolution of the health care ecosystem.

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