Impediments to Blockchain Adoption

2022 ◽  
Author(s):  
Deniz Appelbaum ◽  
Eric Cohen ◽  
Ethan Kinory ◽  
Sean Stein Smith
Keyword(s):  
Seminal Paper ◽  
Digital Currency ◽  
Business Operations ◽  
Business Applications ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain

Satoshi Nakamoto (2008) published a seminal paper on a promising digital currency application and proposed a distributed ledger technology (DLT) to support it. Shortly thereafter, in 2009, bitcoin and the customized DLT that supports it were established. Although the DLT described by Nakamoto (2008), which packages data into blocks that are then cryptographically chained together (i.e., "block chain", or "blockchain"), possesses features that are desirable for some business applications and/or their auditors, over a dozen years later there is not yet a widescale adoption of blockchain for business operations. This paper explores functionality, data and process integrity, and regulatory concerns as potential explanations for the lag in mainstream business and accounting adoption. We also contextualize some of the concerns that are likely to have delayed blockchain implementation by providing a framework of questions directed at both researchers and practitioners.

scholarly journals A Game Model for Incentive Mechanism of Distributed Nodes in Supply Chains

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Jingjing Jiang ◽  
Aobo Lyu
Keyword(s):  
Supply Chain ◽  
Incentive Mechanism ◽  
Operation Mode ◽  
Game Model ◽  
The Public ◽  
Digital Currency ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
The Incentive Mechanism ◽  
Reward Mechanism

This study aims to solve the credit problems in the supply chain commodity and currency circulation links from the perspective of the ledger, while the game model method has been adopted. The research firstly reviews the relationship between distributed ledger technology and the essential functions of currency. Then, by constructing two-agent single-period and multi-period game models in the entire supply chain, the researchers analysed the incentive mechanism and equilibrium solution of distributed nodes of Central Bank Digital Currency (CBDC). The results of this study include the incentive mechanism and optimization of distributed nodes based on licensed distributed ledger technology, which is an important issue that CBDC faces when performing currency functions. The implications of this study mainly cover the limitations of the underlying technology of the public chain and its reward mechanism in the supply chain management and provide support for the rationality of the CBDC issuance mechanism based on state-owned commercial banks, which provides a reference for the CBDC practice. The main value of the research not only serves the decision-making department of the CBDC issuance but also provides ideas on the operation mode of digital currency for the field of digital currency research.

scholarly journals Approach and models for using distributed ledger technology to authenticate educational documents

Doklady BGUIR ◽  
2020 ◽  
Vol 18 (7) ◽  
pp. 14-22
Author(s):  
D. A. Kachan ◽  
U. A. Vishniakou
Keyword(s):  
Public Administration ◽  
Third Party ◽  
Digital Documents ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Urgent Task ◽  
Block Chain ◽  
Structural Solutions

The purpose of this article is to analyze methods, approaches, and tools of distributed ledger technology (DLT) for working with documents in education. The objectives of the article are to analyze problems with the authentication of educational documents, develop new structural solutions using block chain technology, consider two models, and evaluate their use for educational documents.Authentication of educational documents is carried out using state registers, which is a complex and resource-intensive process. There is an increase in the number of forged documents in the world, which calls into question the effectiveness of modern mechanisms. Distributed ledger technology (block chain) is a sustainable technological trend that affects the development and quality of the digital economy. The existence of a mechanism for verifying the authenticity of educational documents that is resistant to malicious manipulation is an urgent task that goes beyond the sphere of education, possible solutions to which are proposed to be considered in this paper.The article provides a brief description of DLT and considers the approach of using the technology to authenticate educational documents. It consists of two main stages: the issue of a digital educational document and its verification. The role of a trusted third party in the issue and validation process is considered. The paper presents the models for issuing and validating digital documents based on distributed ledger technology, which allows one to eliminate the limitations and shortcomings of existing approaches. The effectiveness of the approach based on the proposed models is revealed. The formulated approaches can be applied in various socio-economic areas and public administration to work with similar documents.

scholarly journals Block-chain Reaction: Why Development of Blockchain is at the Heart of the Legal Technology of Tomorrow

2019 ◽  
Vol 19 (01) ◽  
pp. 58-60
Author(s):  
Kimberley Rust
Keyword(s):  
Peer To Peer ◽  
Chain Reaction ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain ◽  
Legal Technology

Blockchain, arguably the most discussed and promising of FinTech trends, has incredible potential to transform legal technology. Infamous as the technology behind cryptocurrencies, distributed ledger technology (DLT) has developed far beyond these origins and may prove far more valuable than the currency it supports. As a form of DLT, blockchain allows for secure decentralisation of peer-to-peer, irreversible exchanges, providing a transparent and irrevocable record as these occur. The technology is already used across the legal industry and a plethora of opportunities to extend its application bubble beneath the surface, under development, waiting to break into the current market.

scholarly journals Sustainable Public Spending Through Blockchain

2020 ◽  
Vol 9 (4) ◽  
pp. 317
Author(s):  
Judit Glavanits
Keyword(s):  
Best Practices ◽  
Financial Markets ◽  
Public Spending ◽  
The State ◽  
The Public ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Industrial Use

Blockchain technology and its industrial use cases can be detected worldwide. It is time for the state to think about the blockchain as an opportunity to reduce costs and build trust in the public spending. The paper and the presentation give an overview on how the state can apply the distributed ledger technology (DLT) and blockchain technology in the public administration: there are several countries with best practices already, and even more are in the introduction phase of opening to Industry 4.0 in the public services as well. On the field of FinTech area the state has great responsibility to regulate (or at least define) the phenomena of cryptocurrencies, that is already in use for more than 10 years now without any responsible governmental acts. Within this topic the Central Bank Digital Currency projects are also discussed in the paper, which are supported by IMF, and declared as the next natural step forward on financial markets. Keywords: blockchain, DLT, SDG, public spending

scholarly journals Blockchain Technology: Rising Trend in Various Applications

2021 ◽  
Author(s):  
Zalte S. S ◽  
Patil P. N ◽  
Deshmukh S. N ◽  
Patil M. G ◽  
Katkar P. S
Keyword(s):  
Business Process ◽  
Digital Transformation ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain

In this tech world, size of block chain is exponentially growing in this covid pandemic year which was not predicted. This pandemic environment causes digital transformation drive in various areas, particularly via the utilization of block chain or distributed ledger technology. To enhance and accelerate business process in various organization and industry showed a growing interest to adopt this technology. This paper summarized various block chain applications which are widely used in number of sectors and also focus on some challenges becomes hurdle while adopting block chain technology.

scholarly journals A Secure E-wallet System Using Block Chain

2021 ◽  
pp. 454-466
Author(s):  
Kartik Sarwan ◽  
Sanket Thore ◽  
Niranjan Satav ◽  
Pruthviraj Kamble ◽  
Dibyo Mandal
Keyword(s):  
Group Action ◽  
Banking Sector ◽  
Prime Minister ◽  
Business Group ◽  
Distributed Network ◽  
Indian Government ◽  
Academic Degree ◽  
Business Applications ◽  
Distributed Ledger ◽  
Block Chain

In 2016, the Indian government, diode by Prime Minister Narendra Singh Modi, academic degree announced that the nations two highest-denomination bank notes would stop to be legal tenders. At the time, the two denominations accounted for roughly eighty 600 of cash in circulation in India. those that possessed the banknotes were to deposit them among the bank. With the move, the Indian government aimed to penalize tax evaders wanting back. The logic was that people with hoards of black money would have to be compelled to answer queries if they tried to deposit the demonetized banknotes. Banking and technology unit really closely associated and innovations have changed banking drastically over the number of it slow. The digital innovations among the banking sector started with the introduction of money that replaced the barter system then the gradual replacement of wax seal with digital signatures. One such troubled innovation that's dynamic the banking sector globally is Block chain Technology (BCT). Block chain is shared distributed ledger that stores business group action to a permanent unbreakable chain which may be viewed by the parties during a group action. Block chain technology has the potential to disrupt the nancial business applications because it provides permanent and tamper proof recording of transactions during a distributed network.

scholarly journals A Design of the Settlement Mode of the Electric Vehicles’ Shared Private Piles Based on the Energy Block Chain

2021 ◽  
Vol 257 ◽  
pp. 01053
Author(s):  
Jiawei Li
Keyword(s):  
Data Analysis ◽  
Electric Vehicles ◽  
Configuration Optimization ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Complex Process ◽  
Block Chain ◽  
Decentralized Energy ◽  
Vehicle Networking

To deal with a series of settlement problems such as the insufficient security for the user’s transaction, the complex process of settlement and the difficulty in data analysis within the sharing mode of the electric vehicles’ private piles, this paper proposed a new settlement mode for the shared private piles of electric vehicles. This mode took the shared charging network of the vehicle networking and the pile networking as the background, built a decentralized energy block chain, optimized the structure of the settlement mode by using distributed ledger technology, and used the intelligent contract algorithm to improve the settlement efficiency of charging orders. At the same time, this mode considered the transaction records and subsequent data analysis in its design, and used the evidence-storage and traceability technology to facilitate the integration of charging information data and to realize the configuration optimization of charging network.

scholarly journals Review on Blockchain Technology

2022 ◽  
Vol 10 (1) ◽  
pp. 636-640
Author(s):  
Dhansri Sudhir Bawankule
Keyword(s):  
Business Process ◽  
Significant Influence ◽  
Data Security ◽  
Technology Research ◽  
Government Finance ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Business Operations ◽  
Body Of Knowledge ◽  
Distributed Ledger

Abstract: Blockchain is a technology that has the potential to cause big changes in our corporate environment and will have a significant influence over the next few decades. It has the potential to alter our perception of business operations and revolutionise our economy. Blockchain is a decentralised and distributed ledger system that, since it cannot be tampered with or faked, attempts to assure transparency, data security, and integrity. Only a few studies have looked at the usage of Blockchain Technology in other contexts or sectors, with the majority of current Blockchain Technology research focusing on its use for cryptocurrencies like Bitcoin. Blockchain technology is more than simply bitcoin; it may be used in government, finance and banking, accounting, and business process managementAs a result, the goal of this study is to examine and investigate the advantages and drawbacks of Blockchain Technology for current and future applications. As a consequence, a large number of published studies were thoroughly assessed and analysed based on their contributions to the Blockchain body of knowledge. Keywords: Blockchain Technology, Bitcoin, Cryptocurrency, Digital currency

scholarly journals De-Centralized Certificate Creation and Verification using Block Chain (DCCVuB)

2019 ◽  
Vol 9 (1S) ◽  
pp. 132-136
Keyword(s):  
Rapid Growth ◽  
Government Official ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Tremendous Amount ◽  
Block Chain ◽  
High Integrity ◽  
The Creation ◽  
Ease Of Access ◽  
The Individual

The rapid growth in the population has lead to generation of large amount of data from each individual. Each and every individual holds several physically signed documents. Currently, the documents, certificates, and contracts are all printed in papers and manually signed. It is difficult for other party say a recruiter, or a government official or any other custom officer to verify the validity of the certificates and other documents of the individual. It consumes a tremendous amount of time for validating and verifying such documents manually. Thus we propose a system to develop a Decentralized application (DApp) for implementing a Blockchain[1] to store and verify the documents. By the nature of blockchain, the documents are securely stored with high integrity, and no further modifications can be done to the blocks in the chain which in turn reduces the creation of forged documents. Also using Distributed Ledger technology(DLT)[5] and IPFS the data is decentralised so that it is readily available with integrity. Also, using MultiSig[3] concepts, the system is more secured by two step authentication. Thus, blockchain creates trust and DLT provides integrity ease of access. And with use of IPFS the DApp is decentralized4]

scholarly journals Cryptocurrencies, Blockchain and Regulation: A Review

2019 ◽  
Vol 24 (1) ◽  
pp. 103-130
Author(s):  
Ayesha Afzal
Keyword(s):  
Financial Stability ◽  
High Speed ◽  
Low Cost ◽  
Technological Innovations ◽  
Decentralized System ◽  
Financial Innovations ◽  
Digital Currency ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
High Degree

The evolution of money has accompanied the development of civilizations and technological innovations, leading to today’s cryptocurrencies. Cryptocurrencies have become a popular mode of payment globally because of their low cost, high-speed transferability and a decentralized tracking network that provides secure transactions and a high degree of anonymity. However, the decentralized system of cryptocurrencies has made global monetary systems more dynamic and therefore more prone to misuse as well as posing a threat to financial stability. Cryptocurrencies are also gaining popularity in Pakistan: its first cryptocurrency, named ‘Pakcoin’, was launched in 2015. The State Bank of Pakistan does not recognize any digital currency, and the Federal Board of Revenue and Federal Investigation Agency have taken legal action against local and internationally traded cryptocurrencies. This article reviews these risks and provides various regulatory solutions so that methods can be developed to improve the management of financial innovations and create a safer environment in which financial innovation can continue. Furthermore, developing countries such as Pakistan can take advantage of distributed ledger technology (used in cryptocurrencies) in applications including: microfinance to help the unbanked, in data identification systems and in land registries to help enforce property rights.

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