scholarly journals BLOCKCHAIN ADOPTION: APPLICATIONS AND CHALLENGES

2021 ◽  
Vol 7 (2) ◽  
pp. 19-25
Author(s):  
Muyideen Omuya Momoh ◽  
P.U. Chinedu ◽  
W. Nwankwo ◽  
D. Aliu ◽  
M.S. Shaba
Keyword(s):  
Global Economy ◽  
Blockchain Technology ◽  
Novel Technology ◽  
Distributed Ledger ◽  
The World ◽  
Digital Asset ◽  
A Chain ◽  
Central Management ◽  
Digital Assets

In recent times, more scholastic and social attention have been paid to blockchain and its distributed ledger system mechanism. The reasons for this ever-increasing attention cannot be far-fetched: blockchain now occupies a copious position in the present-day ways of doing things economically, digitally and ‘digital-socially’. Blockchain could be described as a distributed ledger system that allows secure transactions without a central management system. In this distributed ledger system, transactions are coded into blocks, which are linked to each other in the form of a chain. The first application of blockchain is in the bitcoin cryptocurrency. Though not limited to bitcoin, blockchain finds usefulness in security and trusts for instance, digital assets could be coded into blocks to ensure and enforce quality of trust. Consequent upon the quality of trust the blockchain confers on a digital asset, transparency among participating nodes is guaranteed.  This is because, any change made to any record in a given block automatically initiates and enforces a corresponding change in all other blocks in the chain hence tampering or breach is almost impossible.  Owing to its impressive prospects in the socioeconomic and political ecosystem, this paper was conceived to examine the current developments around this novel technology with particular emphasis on its benefits and proposed  challenges and needs to fill the gap created in the vital socioeconomic domains. The paper concludes that the blockchain technology is a plausible approach to restoring the trust, confidentiality, availability and integrity in transactions in the cyberspace and the world at large as majority of the global economy thrives in the cloud.

Money Code Space

2020 ◽  
Author(s):  
Jack Parkin
Keyword(s):  
Open Source Software ◽  
Global Economy ◽  
Research Problem ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Start Up ◽  
Challenging Research ◽  
Digital Politics ◽  
Financial Transactions ◽  
And Control

Newly emerging cryptocurrencies and blockchain technology present a challenging research problem in the field of digital politics and economics. Bitcoin—the first widely implemented cryptocurrency and blockchain architecture—seemingly separates itself from the existing territorial boundedness of nation-state money via a process of algorithmic decentralisation. Proponents declare that the utilisation of cryptography to advance financial transactions will disrupt the modern centralised structures by which capitalist economies are currently organised: corporations, governments, commercial banks, and central banks. Allegedly, software can create a more stable and democratic global economy; a world free from hierarchy and control. In Money Code Space, Jack Parkin debunks these utopian claims by approaching distributed ledger technologies as a spatial and social problem where power forms unevenly across their networks. First-hand accounts of online communities, open-source software governance, infrastructural hardware operations, and Silicon Valley start-up culture are used to ground understandings of cryptocurrencies in the “real world.” Consequently, Parkin demonstrates how Bitcoin and other blockchains are produced across a multitude of tessellated spaces from which certain stakeholders exercise considerable amounts of power over their networks. While money, code, and space are certainly transformed by distributed ledgers, algorithmic decentralisation is rendered inherently paradoxical because it is predicated upon centralised actors, practices, and forces.

scholarly journals Analysis of the Fluctuation of the Number of ISO 9001:2015 Certificates in the Republic of Croatia and Assessment of Satisfaction of Business Organisations Leadership with the Certificate

2020 ◽  
Vol 66 (4) ◽  
pp. 40-49
Author(s):  
Petar Vušković
Keyword(s):  
Global Economy ◽  
Empirical Studies ◽  
Quality Standard ◽  
Iso 9001 ◽  
Annual Fluctuation ◽  
Level Of Satisfaction ◽  
The World ◽  
The Republic ◽  
High Level

AbstractThe ISO 9001:2015 certificate of quality is nowadays the most renowned quality standard in the world. Standardised quality has become an imperative competitive advantage on the market for all serious business organisations. The fluctuation of the number of certificates of quality indicates to what extent companies are willing to ensure the quality of their products and services to customers and clients, and how fast the domestic market is standardised and integrated into the global economy. This paper presents the results of two empirical studies. The first one focused on the analysis of the fluctuation in the number of ISO 9001:2015 certificates in the period from 2008 to 2018, while the second aimed to determine the satisfaction of leadership with the certificate. The study has shown that, during the observed period, the number of certificates of quality in Croatia fluctuated between – 18% and +22% annually. At the annual level, a certain number of companies lose their certificates or opt for decertification. For that reason, a study of the leadership’s level of satisfaction with the ISO 9001:2015 certificate was conducted using a sample of 296 certified business organisations. The study has proven that the leadership showed a high level of satisfaction with the certificate of quality and that they appreciate business organisations with certificates of quality. It demonstrates that the quality management certification has a bright future regardless of the annual fluctuation of the number of certificates.

Blockchain Technology and General Issue of Tax Evasion via Bitcoin

2021 ◽  
pp. 92-108
Author(s):  
Güneş Çetin Gerger
Keyword(s):  
Supply Chain ◽  
Money Laundering ◽  
Tax Evasion ◽  
Market Value ◽  
Financial Fraud ◽  
Terrorist Financing ◽  
Blockchain Technology ◽  
The World ◽  
Financial Transactions ◽  
Digital Assets

Cryptocurrencies often also serve money laundering activities, terrorist financing, tax evasion, and other illegitimate activities with a market value of more than 7 billion euros across the globe, though the total amount is hardly measurable. Indeed, the blockchain technology involves many virtual currencies, including bitcoin, to conduct various financial transactions related practices throughout the world economies. Besides, other blockchain applications are making positive contributions to a wide array of other industries including healthcare, supply chain, manufacturing, etc. This technology which constitutes the backbone of digital assets transactions currencies is characterized by anonymity, privacy, security, and speed. In this sense, for tax administration authorities, detection of financial fraud and regulations with respect to taxation of virtual transactions pose newer emerging challenges. This chapter aims to examine the blockchain technology, cryptocurrencies, especially bitcoin, and look into regulations by world governments to combat tax evasion and illegal transactions.

scholarly journals Blockchain Technology and its Impact on the Global Economy

2019 ◽  
Author(s):  
Burcu Sakız ◽  
Ayşen Hiç Gencer
Keyword(s):  
Artificial Intelligence ◽  
At Risk ◽  
Global Economy ◽  
World Economy ◽  
Financial Institution ◽  
The Internet ◽  
Valuable Resource ◽  
Artificial Intelligence Techniques ◽  
Blockchain Technology ◽  
The World

The world’s most valuable resource is no longer oil, but data. Smartphones and the internet have made data abundant, ubiquitous and far more valuable. Modern algorithms can predict when a customer tends to buy, a car needs servicing or a person is at risk of a disease. Meanwhile, artificial intelligence techniques extract more value from data. As individuals accumulate information which transforms into knowledge, entrepreneurs will want to use and/or share that knowledge. It is the sharing of knowledge that needs a decentralized, autonomous mechanism so that knowledge can be shared fairly amongst all peoples of the world, not just within corporations. Blockchain technology gives us that mechanism. Blockchain is one of a kind decentralized technology and it is distributed as well as decentralized ledger. Blockchain is the answer to a lot of obstacles the world has to go through today. Before today, nobody could think of transferring money from one account to another safely without any financial institution in the middle, like a bank. Blockchain technology presents a radical and disruptive new way of conducting all manner of transactions over the Internet. The advent of Bitcoin and the blockchain has brought a lot of change to the world of finance even the world economy was formerly run using fiat currencies. Introducing the blockchain environment will actually enhance the economics because in blockchain, all transactions are recorded right from the manufacturer to the buyer. This paper explores the emerging landscape for blockchain technology focusing on the economics.

scholarly journals A Cross-National Comparative Policy Analysis of the Blockchain Technology Between the USA and China

2021 ◽  
Author(s):  
Chu-Chi Kuo ◽  
Joseph Z. Shyu
Keyword(s):  
Business Models ◽  
Policy Framework ◽  
Policy Tools ◽  
Policy Planning ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
The World ◽  
The Usa ◽  
Cross National ◽  
Comparative Policy

Blockchain technology can achieve decentralization, multi-party verification, anti-tampering, anonymity, traceability of transactions, and the application of distributed ledger. Countries around the world continue to seek the blockchain business models, technologies and applications, and have different visions and policies for the development of blockchain. This study conducts a comparative policy framework of theoretical analysis of the blockchain technology between the USA and China. Using the innovative policy tools proposed by Rothwell and Zegveld, the above mentioned governments are analyzed from the viewpoint of twelve policy tools. The results show that the USA and China all prefer to use “Environmental-side” policy. The USA has paid more attention to “Legal and regulatory”, “Public services” and “Procurement”. China has the highest proportion of policies in “Political tools”, followed by “Legal & regulatory”, while “Scientific and technical”, “Education” and “Overseas agent” come in third . The blockchain technology has developed vigorously among industries and its applications have gradually diversified. The results are provided to various stakeholders as a reference for policy planning.

scholarly journals Embedding a Blockchain Technology Pattern Into the QR Code for an Authentication Certificate

2020 ◽  
Vol 5 (2) ◽  
pp. 239
Author(s):  
Qurotul Aini ◽  
Untung Rahardja ◽  
Melani Rapina Tangkaw ◽  
Nuke Puji Lestari Santoso ◽  
Alfiah Khoirunisa
Keyword(s):  
Continuing Education ◽  
Swot Analysis ◽  
Human Life ◽  
Qr Code ◽  
Analysis Method ◽  
Blockchain Technology ◽  
The World ◽  
Digital Assets

In the disruptive 4.0 era that emphasizes technological sophistication, blockchain is present as a technology that increasingly influences human life, helping humans in all aspects, including education. The role of blockchain technology in the world of education is to test the validity of diplomas, the increasing number of fake diplomas for an interest, both for work and continuing education to a higher level. The purpose of this research with the implementation of blockchain is expected to make it easier for users to verify the authenticity of a diploma. This study uses the SWOT analysis method to identify all possibilities that exist in blockchain technology. The final result of this research, the system will print a physical certificate in the form of paper in general, then the certificate will be printed a QR code. To verify numeric code on QR Code via scanning on smartphone or QR Reader. It is hoped that the blockchain technology applied to digital assets can reduce cases of forgery of diplomas and other important documents.

scholarly journals Novel Payment Wallet Management with Blockchain Based Cryptocurrency

2019 ◽  
Vol 8 (2S4) ◽  
pp. 228-233
Keyword(s):  
Regulatory Authority ◽  
Payment Systems ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Payments System ◽  
Enterprise Technology ◽  
Business Application ◽  
The World ◽  
Actual Life

Blockchain for business is a new concept which enables many industries and organizations to implement even the basic of systems on foundation of blockchain technology. Using this technology, our goal is to develop a payments system that enables transfer of funds for a monetary transaction between two parties. Hyperledger is an open source community oriented effort which was made to propel cross-industry blockchain advances that were available. The Linux Foundation has it. It has partners from everywhere throughout the world , at a worldwide dimension and incorporates ventures like funding, banking, Internet of Things, supply chains, assembling and Technology. Using Blockchain for Enterprise technology, we are going to develop a new payments system that makes use of regulated cryptocurrency. Using this system, we want to create a new cryptocurrency specific to the payment portal for people to buy, sell and pay or earn rewards using this cryptocurrency. This system will majorly consist of participants and admins that will be divided based on the certificates assigned to every participant. Our implementation involves. using the fabric for creating a payment system run on the backend of blockchain technology. This will involve having a regulatory authority to maintain the cryptocurrency, ledger and authenticity of the users. Theoretically, the blockchain technology maintains anonymity for transactions. It uses a distributed ledger to record transactions for people to be able to make secure transactions without any repercussions. Blockchain for Enterprise implements Blockchain technology by using concepts like Trust, Privacy and Smart contracts in addition to the distributed ledger to create an industry friendly Blockchain business application. Blockchain is a rapidly growing field with multiple implementations which can be explored not just on anonymity but also on actual life implementations. Distributed ledger technology is applied to the payment systems. Cryptocurrency would now not only be used for anonymous transactions but also for regular day to day transactions.

SWOT Analysis of Lending Platform from Blockchain Technology Perspectives

2020 ◽  
Vol 1 (1) ◽  
Author(s):  
Wisnu Uriawan ◽  
Keyword(s):  
Human Activity ◽  
System Performance ◽  
Credit Card ◽  
Swot Analysis ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
The World

Blockchain Technology become phenomenal issue in the world, emerging with bitcoin and IoT. It had been implemented in many areas in human activity. Advantages of blockchain technology is distributed ledger where resources distributed to all member in network. Loans or credit as part of human activity in their life. When we need cash for a major expense, it might be tempting to borrow from a payday lender or max out a credit card or similar, but you have other options that will not harm your credit or put you in a cycle of debt, even if your credit record is not all that great. Collateral loans could be a way to borrow the money as you need. One of which is the lending platform. Blockchain technology has been implemented in many lending platforms, but there are still any weaknesses that can be refined and optimized. Tool of analysis is SWOT, describes of four analysis, as follow: Strength, Weakness, Opportunity and Threats. This paper purpose to analyzed lending platform measured by look for the weaknesses variable and how to optimize that system performance that can improve for helping people in lending process. In addition, the result of this analysis can use for enhancement recommendation the system based on the weaknesses are found and opportunity for make a lending platform robust

scholarly journals Blockchain and Cryptocurrencies Technology: a survey

2019 ◽  
Vol 3 (4) ◽  
Author(s):  
Bashar Ibrahim Hameed
Keyword(s):  
Global Economy ◽  
New Technology ◽  
Banking System ◽  
Systematic Investigation ◽  
Decentralized System ◽  
The Sustainable Development ◽  
Technology Sector ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Financial Technology

Blockchain  and Cryptocurrency has gotten wider considerations as of late. The decentralized digital Cryptocurrency  and its underlying “Blockchain ” technology has created much excitement in the technology community. The financial technology sector sees high potential value in Cryptocurrency Blockchain  protocols, or distributed-ledger technology. The key advantage of this technology lies in the fact that it enables the establishment of secured, trusted, and decentralized autonomous ecosystems for various scenarios, especially for better usage of the legacy devices, infrastructure, and resources. In this paper, we presented a systematic investigation of Blockchain  and Cryptocurrencies with explained simply in a way that Cryptocurrency is a form of digital currency that is being used to make transactions using a ledger known as Blockchain  which is a decentralized system of banking in which there is no centralized authority and all the control lies on an algorithm and its controlling users. Blockchain , a financial tool that can potentially play an important role in the sustainable development of the global economy. The new technology is expected to bring massive benefits to consumers, to current banking system and to the whole society in general. 

scholarly journals Development of Business Model Digital Fraction Property Investment

2020 ◽  
Vol 9 (2) ◽  
pp. 67-78
Author(s):  
I Gede Putu Rahman Desyanta ◽  
Gede Sri Darma
Keyword(s):  
Real Estate ◽  
Minimum Wage ◽  
Business Model ◽  
Business Models ◽  
Industrial Revolution ◽  
Blockchain Technology ◽  
Property Prices ◽  
The World ◽  
New Business ◽  
Digital Assets

Investing a property or real estate could be a challenge for Millennials generation. The increase in property prices is not in line with the increased of minimum wage that makes Millennials only afford to rent the property. To having an investment in property need more time in legal procedure, sometime need more than months. Fraction Property investment is a concept of investing property together. Separate the property in other format of digital assets distributed it to all more than one party. To implement this concept need to has a suitable business model and technology. Rising of industrial revolution 4.0, introduce the world with Blockchain Technology. The research is aiming to give better picture of new business model of investing on a property based on blockchain technology. With right business models, millennials generation will have another methods of investment on a property, that secure, easy and digital.

Sign in / Sign up

Export Citation Format

Share Document