scholarly journals Trustless libertarians ? Attitudes about trust, politics, science and the environment in the blockchain community

2021 ◽  
Author(s):  
Melusine Boon-Falleur ◽  
Talia Laizeau
Keyword(s):  
General Population ◽  
Financial Institutions ◽  
Central Banks ◽  
Third Party ◽  
Blockchain Technology ◽  
Trust In Institutions ◽  
The World ◽  
Technology Applications ◽  
Traditional Institutions ◽  
Low Levels

Blockchain technology emerged in 2008 in the midst of the financial crisis to provide a decentralized alternative to financial institutions. Members of the blockchain community, including the pseudonymous inventor of the technology Satoshi Nokamoto, have often expressed low levels of trust toward traditional institutions such as central banks. In contrast, they argue that blockchain technology applications such as cryptocurrencies or decentralized autonomous organisations do not require the intervention of a third party and are therefore more trustworthy while also allowing for more freedom. In this context, members of the blockchain community are often described as trustless and libertarian. In this study, we tested whether members of the blockchain community indeed are different from the general population in terms of their attitudes toward trust, politics, science and the environment. We found that the blockchain community is indeed less trusting of people and institutions, favors more private poverty, and is less pro-environmental than the general population. Given that trust in institutions has been decreasing in recent years, decentralized systems powered by blockchain technology may become appealing to a growing number of people around the world.

Blockchain Encryption on Student Academic Transcripts using a Smart Contract

2021 ◽  
Author(s):  
Primasatria Edastama ◽  
Ninda Lutfiani ◽  
Qurotul Aini ◽  
Suryari Purnama ◽  
Isabella Yaumil Annisa
Keyword(s):  
Data Storage ◽  
Storage System ◽  
Digital Data ◽  
Decentralized System ◽  
Blockchain Technology ◽  
Educational Environments ◽  
The World ◽  
Technology Applications ◽  
E Learning ◽  
Data Storage System

As an innovation in the world of computers, blockchain has many benefits and is also widely applied in the world of education. Blockchain itself has many advantages, especially in the world of education. Blockchain is a digital data storage system that consists of many servers (multiserver). In this Blockchain technology, data created by one server can be replicated and verified by another server. By using this technology with a decentralized system and strong cryptography and can help colleges or universities to build infrastructure in the archive storage of transcripts, diplomas, and diplomas. Usage One of the blockchain technology applications in education is iBC, namely the e-learning Blockchain Certificate, book copyright, and also e-Portfolios. iBC or e-learning Blockchain Certificate is a tool designed to create, verify and also issue blockchain certificates. As has been supported by the IBC to create certificates that are globally verified and stored in a decentralized manner. Here will be presented use cases that are relevant in the use of Blockchain technology in educational environments, especially data processing in universities and we also try to design an IBC based on blockchain technology that can be used to support transparency and accountability of colleges or universities in issuing diplomas and grades. 

Blockchain Technology

2021 ◽  
pp. 215-247
Author(s):  
Somayya Madakam ◽  
Harshita
Keyword(s):  
Financial Institutions ◽  
Credit Card ◽  
Third Party ◽  
Research Articles ◽  
Ongoing Research ◽  
Scientific Databases ◽  
Blockchain Technology ◽  
Innovative Solution ◽  
Youtube Videos ◽  
Financial Transactions

Currently, the financial transactions between individuals, organizations, and companies are taking place with the help of third-party approval of intermediaries such as banks, financial institutions, standardizing bodies, or credit card providers. These transactions involve multilevel approvals, costs, and inefficient processes in some cases, which also lead to waste of time and resources. To resolve these issues, blockchain technology has appeared as a new financial digital innovative solution. Here, financial transactions are online, open, and transparent. In this chapter, the authors present systematic literature of relevant research on blockchain technology. The objective is to understand the historical evolutions, current ongoing research, base technologies, and applications. The authors have extracted research articles from scientific databases including EBSCO, Scopus, Web of Science, and Google Scholar. The online blogs, wikis, media articles, YouTube videos, and companies' white papers on blockchain technology are also used for content analysis.

scholarly journals Main Barriers of the Implementation of the Blockchain Technology

2019 ◽  
pp. 197-204
Author(s):  
Jan Zadrożny
Keyword(s):  
Global Financial Crisis ◽  
Distributed Database ◽  
Third Party ◽  
Blockchain Technology ◽  
Evolution And Development ◽  
Key Characteristics ◽  
The World ◽  
The Subject ◽  
Basic Concepts ◽  
The Global Financial Crisis

Blockchain is a decentralized and distributed database, where participants can exchange the value of, i.e. information or financial resources without the participation of a trusted third party. Despite of a number of positive features, this technology is not free of defects. The aim of the article is to present the barriers of the discussed technology, which prevent the discussed technology from further dissemination. Therefore, in a first step, the review of basic concepts related to blockchain was conducted. It includes a discussion of key characteristics as well as dominant types of blockchain. Afterwards, the author presents barriers of the implementation of the blockchain technology: technical, socio-organizational and legal. Blockchain gained its popularity thanks to the bitcoin cryptocurrency, which was launched in 2009 as a consequence of the global financial crisis. Since then, the technology has gone a long way of evolution and development, and its use goes far beyond only the financial sector. Therefore, the article is not focused on the strengths and weaknesses of the bitcoin blockchain network, as this has already been the subject of many other publications (i.e. Yli-Huumo et al., 2016; Koteska et al., 2017), but aims to highlight barriers of its deployment. Consequently, the limitations faced by bitcoin blockchain or, more broadly, the world of cryptocurrencies, have been passed in this article advisedly.

Will Blockchain Bring an End to Corruption?

2021 ◽  
pp. 1846-1856
Author(s):  
Kibum Kim ◽  
Taewon Kang
Keyword(s):  
Economic Benefit ◽  
Third Party ◽  
Data Governance ◽  
Firm Level ◽  
Security Issues ◽  
Country Level ◽  
Blockchain Technology ◽  
Multiple Servers ◽  
The World ◽  
Cross Country

Blockchain technology is an electronic ledger of digital records that is distributed over a network of computers rather than located on single or multiple servers. As the technology is by itself transparent and secure even without a trusted third party involvement, many applications are being developed as a means of eliminating corruption around the world. This article examines how the blockchain technology could be used to curb corruption and take integrity to higher standards at a firm level, within-country level and cross-country level. Possible risks and challenges related to the technology were identified and found that without considering the data governance and security issues, the blockchain technology may not always lead to a socio-economic benefit.

scholarly journals Towards trustworthy blockchains: normative reflections on blockchain-enabled virtual institutions

2021 ◽  
Author(s):  
Yan Teng
Keyword(s):  
Third Parties ◽  
Normative Values ◽  
Institutional Trust ◽  
The Core ◽  
Blockchain Technology ◽  
Virtual Institutions ◽  
Trust In Institutions ◽  
Specialized Form ◽  
Traditional Institutions ◽  
Core Functionality

AbstractThis paper proposes a novel way to understand trust in blockchain technology by analogy with trust placed in institutions. In support of the analysis, a detailed investigation of institutional trust is provided, which is then used as the basis for understanding the nature and ethical limits of blockchain trust. Two interrelated arguments are presented. First, given blockchains’ capacity for being institution-like entities by inviting expectations similar to those invited by traditional institutions, blockchain trust is argued to be best conceptualized as a specialized form of trust in institutions. Keeping only the core functionality and certain normative ideas of institutions, this technology broadens our understanding of trust by removing the need for third parties while retaining the value of trust for the trustor. Second, the paper argues that blockchains’ decentralized nature and the implications and effects of this decentralization on trust issues are double-edged. With the erasure of central points, the systems simultaneously crowd out the pivotal role played by traditional institutions and a cadre of representatives in meeting their assigned obligations and securing the functional systems’ trustworthy performances. As such, blockchain is positioned as a technology containing both disruptive features that can be embedded with meaningful normative values and inherent ethical limits that pose a direct challenge to the actual trustworthiness of blockchain implementations. Such limits are proposed to be ameliorated by facilitating a shift of responsibility to the groups of people directly associated with the engendering of trust in the blockchain context.

Will Blockchain Bring an End to Corruption?

2019 ◽  
Vol 10 (2) ◽  
pp. 35-44
Author(s):  
Kibum Kim ◽  
Taewon Kang
Keyword(s):  
Economic Benefit ◽  
Third Party ◽  
Data Governance ◽  
Firm Level ◽  
Security Issues ◽  
Country Level ◽  
Blockchain Technology ◽  
Multiple Servers ◽  
The World ◽  
Cross Country

Blockchain technology is an electronic ledger of digital records that is distributed over a network of computers rather than located on single or multiple servers. As the technology is by itself transparent and secure even without a trusted third party involvement, many applications are being developed as a means of eliminating corruption around the world. This article examines how the blockchain technology could be used to curb corruption and take integrity to higher standards at a firm level, within-country level and cross-country level. Possible risks and challenges related to the technology were identified and found that without considering the data governance and security issues, the blockchain technology may not always lead to a socio-economic benefit.

scholarly journals A critical approach to technology-based risks in blockchain system

2020 ◽  
Vol 2 (1) ◽  
pp. 41-48
Author(s):  
Nilufer Nilufer ◽  
Zeynep Yeni Erol
Keyword(s):  
Third Party ◽  
Journal Articles ◽  
Critical Approach ◽  
Blockchain Technology ◽  
The World ◽  
Multiple Copies ◽  
Education Supply ◽  
Day By Day ◽  
Computer Node ◽  
The Web

The blockchain technology has given a new shape to the world and disrupted a wide variety of technology-based industries. The disruptive characteristics of blockchain technology have molded the way of doing things. Since the importance of blockchain technology in business and social environment is increasing day by day, this study aimed to underline risks of blockchain technology within the network. Two strategies were made to infer the technology-based risk in the blockchain ecosystem. First, the study examined to find the technology-based risk at the point where a user executes the transaction from his/her computer ‘Node’. Second, this study attempts to figure out the security concerns within the web of the blockchain. After assessment of benefits and risks of this technology, this study concluded with the findings that blockchain is very much secure and trustable system which provides peer-to-peer transactions without needing any trusted third party, besides, once the information of the transaction is recorded, the system stores multiple copies of it, so there is no chance to change or delete it from the system. In the case of negligence, there is a possibility of forgery at the node, but numerous software has been developed for protecting the computer. The approach of the study is grounded in the literature review of journal articles, reports, and conference proceedings from authenticated sources via content analysis of the keywords such as blockchain, security, trust, technology-based risks. Blockchain technology is not associated with finance but it has high usage in other areas like health, education, supply chain, the music industry and many more to explore.

scholarly journals Immutable autobiography of smart cars leveraging blockchain technology

2020 ◽  
Vol 35 ◽  
Author(s):  
MD. Sadek Ferdous ◽  
Mohammad Jabed Morshed Chowdhury ◽  
Kamanashis Biswas ◽  
Niaz Chowdhury ◽  
Vallipuram Muthukkumarasamy
Keyword(s):  
Service Providers ◽  
Satellite Navigation ◽  
Privacy Preserving ◽  
Third Party ◽  
Government Agencies ◽  
Blockchain Technology ◽  
Wide Range ◽  
The World ◽  
Smart Cars

Abstract The popularity of smart cars is increasing around the world as they offer a wide range of services and conveniences. These smart cars are equipped with a variety of sensors generating a large amount of data, many of which are critical. Besides, there are multiple parties involved in the lifespan of a smart car, such as manufacturers, car owners, government agencies, and third-party service providers who also generate data about the vehicle. In addition to managing and sharing data among these entities in a secure and privacy-friendly way which is a great challenge itself, there exists a trust deficit about some types of data as they remain under the custody of the car owner (e.g. satellite navigation and mileage data) and can easily be manipulated. In this article, we propose a blockchain-assisted architecture enabling the owner of a smart car to create an immutable record of every data, called the autobiography of a car, generated within its lifespan. We also explain how the trust about this record is guaranteed by the immutability characteristic of the blockchain. Furthermore, the article describes how the proposed architecture enables a secure and privacy-preserving mechanism for sharing of smart car data among different parties.

Implementation Of Zakat Payment Platform For Cryptocurrencies

2021 ◽  
pp. 17-31
Author(s):  
Mohd Faizal Yusof ◽  
Lisasari Ab. Rasid ◽  
Ridzuan Masri
Keyword(s):  
Investment Decisions ◽  
Academic Development ◽  
Third Party ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Network Concept ◽  
Alternative Approach ◽  
The World ◽  
Digital Asset ◽  
Start Ups

Bitcoin spearheaded the rise of cryptocurrencies since it was first launched in 2009. The concept of bitcoin as digital currency was first published publicly in the 2008 well-known whitepaper by pseudonymous Satoshi Nakamoto. The whitepaper outlined a self-serving peer-to-peer transaction network concept based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party such as financial institutions. Since then, thousands of cryptocurrencies have been launched mostly through token offerings as an alternative approach of raising funds for blockchain, technology projects, and start-ups. People are holding cryptocurrencies mostly as digital asset investments. Some individuals made huge profits from buying cryptocurrencies at their initial offerings and sold later when the prices increased. Some crypto millionaires were born from such trades. However, many people lost their investment as well due to many factors. Some were due to bad investment decisions, and some fall into scams and investment programs run by dishonest peoplewith promises of highly lucrative returns. As trading and owning cryptocurrencies are becoming common, governments and policymakers around the world are coming up with proper and comprehensive regulations for cryptocurrencies. In the context of Malaysia, in which zakat collections and distributions are of state matters, this paper discusses the implementation of zakat payment platform for cryptocurrencies at zakat institutions. This paper seeks to contribute to the academic development, blockchain technology, and zakat management.

Fed's rate caution unsettles global markets

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Emerging Markets ◽  
World Bank ◽  
Financial Institutions ◽  
Central Banks ◽  
External Factors ◽  
Global Markets ◽  
Content Type ◽  
The World Bank ◽  
The World

Significance Her comments followed the Fed's September 17 decision to keep rates unchanged because of concerns about financial turmoil and economic weakness in emerging markets (EMs). The Fed's dovish decision, although defensible given subdued inflationary pressures, illustrates how economic and financial uncertainties in China are influencing global policymaking. Impacts The future conduct of US monetary policy is leading to sharp divisions within global financial institutions. The IMF and the World Bank urge the Fed to stand pat, while the BIS highlights risks of ultra-loose policies. The Fed's reluctance to raise rates and the related volatility impede the exit from unconventional policies of other major central banks. Sentiment towards EMs will also be hit by domestic vulnerabilities which, in some countries, are more important than external factors.

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