scholarly journals A Deep Analysis of Blockchain Technology from Socio-Economic and Technological Perspectives: Intrinsic Barriers and Potential Impact

2021 ◽  
Author(s):  
Dirk Draheim
Keyword(s):  
Institutional Economics ◽  
Design Science ◽  
Denial Of Service ◽  
Science Research ◽  
Theoretical Background ◽  
New Institutional Economics ◽  
Decision Makers ◽  
Policy Makers ◽  
Blockchain Technology ◽  
Economic Barriers

Our aim is to understand technological and socio-economic barriers to blockchain solutions that are intrinsic in the blockchain technology stack itself (permissionless as well as permissioned). On the basis of that, we want to understand the future potentioal impact of blockchain technology. We provide an argumentation against the theoretical background of Williamson's instutional analysis framework, and triangulate the insights with results from four design science research efforts. We (i) characterize cryptocurrency as one-tiered collateralized money. We (ii) review potential blockchain solutions against defined essential modes of communications. We review (iii) well-known scalability issues and potential denial-of-service attacks through a new probabilistic model. We (iv) characterize a typical neglection of physical network infrastructure in blockchain technology discussions. We (v) describe four successful blockchain solutions and explain their design. There is (vi) no evidence that the proclaimed ``blockchain revolution'' can disrupt our institutional stack; instead, it can only happen in the boundaries of the current institutional stack. Nevertheless, it is possible to (vii) design useful blockchain solutions. The findings of this research enable policy makers, decision makers and information systems architects alike to make informed decisions about blockchain technology and its application. Given its theoretic foundation in new institutional economics, triangulated with comprehensive results from design science efforts, this study is the first of its kind in the area of blockchain technology research. <br>

scholarly journals A Deep Analysis of Blockchain Technology from Socio-Economic and Technological Perspectives: Intrinsic Barriers and Potential Impact

2021 ◽  
Author(s):  
Dirk Draheim
Keyword(s):  
Institutional Economics ◽  
Design Science ◽  
Denial Of Service ◽  
Science Research ◽  
Theoretical Background ◽  
New Institutional Economics ◽  
Decision Makers ◽  
Policy Makers ◽  
Blockchain Technology ◽  
Economic Barriers

Our aim is to understand technological and socio-economic barriers to blockchain solutions that are intrinsic in the blockchain technology stack itself (permissionless as well as permissioned). On the basis of that, we want to understand the future potentioal impact of blockchain technology. We provide an argumentation against the theoretical background of Williamson's instutional analysis framework, and triangulate the insights with results from four design science research efforts. We (i) characterize cryptocurrency as one-tiered collateralized money. We (ii) review potential blockchain solutions against defined essential modes of communications. We review (iii) well-known scalability issues and potential denial-of-service attacks through a new probabilistic model. We (iv) characterize a typical neglection of physical network infrastructure in blockchain technology discussions. We (v) describe four successful blockchain solutions and explain their design. There is (vi) no evidence that the proclaimed ``blockchain revolution'' can disrupt our institutional stack; instead, it can only happen in the boundaries of the current institutional stack. Nevertheless, it is possible to (vii) design useful blockchain solutions. The findings of this research enable policy makers, decision makers and information systems architects alike to make informed decisions about blockchain technology and its application. Given its theoretic foundation in new institutional economics, triangulated with comprehensive results from design science efforts, this study is the first of its kind in the area of blockchain technology research. <br>

scholarly journals Using Blockchain Technology to Foster Collaboration among Shippers and Carriers in the Trucking Industry: A Design Science Research Approach

Logistics ◽  
2021 ◽  
Vol 5 (2) ◽  
pp. 37
Author(s):  
Serkan Alacam ◽  
Asli Sencer
Keyword(s):  
Private Information ◽  
Design Science ◽  
Science Research ◽  
Trucking Industry ◽  
Research Approach ◽  
Blockchain Technology ◽  
Storage Solutions ◽  
Sustainability Problems ◽  
And Storage ◽  
Industry Professionals

In the global trucking industry, vertical collaboration between shippers and carriers is attained by intermediaries, called brokers. Brokers organize carriers for a shipper in accordance with its quality and price requirements, and support carriers to collaborate horizontally by sharing a large distribution order from a shipper. Brokers also act as trustees, preventing the passing of private information of any party to the others. Despite these benefits, intermediaries in the trucking industry are involved in several sustainability problems, including high costs, high levels of carbon emissions, high percentages of empty miles, low-capacity utilizations, and driver shortages. Several studies have acknowledged the importance of improving collaboration to address these problems. Obviously, the major concern of brokers is not collaboration, but rather to optimize their own gains. This paper investigates the potential of blockchain technology to improve collaboration in the trucking industry, by eliminating brokers while preserving their responsibilities as organizers and trustees. This paper extends the transportation control tower concept from the logistics literature, and presents a system architecture for its implementation through smart contracts on a blockchain network. In the proposed system, the scalability and privacy of trucking operations are ensured through integration with privacy-preserving off-chain computation and storage solutions (running outside of the blockchain). The potential of this design artifact for fostering collaboration in the trucking industry was evaluated by both blockchain technology experts and trucking industry professionals.

scholarly journals Blockchain technology in commercial real estate transactions

2019 ◽  
Vol 37 (6) ◽  
pp. 570-579 ◽  
Author(s):  
Hugo Pieter Wouda ◽  
Raymond Opdenakker
Keyword(s):  
Real Estate ◽  
Design Science ◽  
Science Research ◽  
Commercial Real Estate ◽  
Office Building ◽  
Content Type ◽  
Blockchain Technology ◽  
Transaction Process ◽  
Current Transaction ◽  
Pain Points

Purpose The transaction process of an office building is known to be time consuming and inefficient, in part due to the lack of market transparency. The purpose of this paper is to focus on the development of a blockchain application that can improve the transaction process of office buildings in the Netherlands. Design/methodology/approach Conducting design science research, the current transaction process of an office building and status quo of blockchain technology in real estate is investigated. Subsequently, multiple parties are interviewed to define major pain points within the process. The interview findings are used to design a blockchain solution which overcomes the aforementioned pain points. After designing, the interviewees are asked again to pragmatically validate the proposed model. Findings One of the major pain points identified concerning the transaction process of an office building is that it is difficult to define the characteristics of a property, due to lack of data structure and quality. The proposed application improves the way specific assets are understood by structuring physical and contractual information in one place and guarantees the quality of the data by using the blockchain mechanisms. Practical implications A blockchain application is proposed, which can improve the transaction process of an office building. Originality/value Recent studies indicate that blockchain technology could lead to improvements in efficiency, transparency and therefore trust within the transaction process. Therefore, the proposed application is of value for the future of real estate data management and the transaction process.

Altruism, reciprocity and Islamic equity finance

2016 ◽  
Vol 9 (2) ◽  
pp. 205-221 ◽  
Author(s):  
Yasushi Suzuki ◽  
Mohammad Dulal Miah
Keyword(s):  
Institutional Economics ◽  
Transaction Cost Economics ◽  
Theoretical Background ◽  
Fund Raising ◽  
New Institutional Economics ◽  
Economic Behavior ◽  
Content Type ◽  
Protection Mechanisms ◽  
Equity Finance ◽  
The Right

Purpose This paper argues how Islamic altruism and reciprocity can enhance or drain the supply of Islamic equity finance. The paper also analyzes the feasibility of Islamic equity finance through the lens of new institutional economics (NIE) and transaction cost economics (TCE). Design/methodology/approach One of the salient contributions by NIE is to support the proposition that effective contracting depends greatly on institutions in terms of “rules that constrain economic behavior”, including informal or intangible institutions, such as religion, culture and customary practices. This paper draws on the theoretical contributions of the NIE and TCE and applies some of these contributions to an analysis of general altruism and reciprocity in Islamic economies. Findings It is said that solutions based on the Islamic injunctions (collectively termed as spiritual quotient) could serve to mitigate agency risks. However, in theory, the Muslim principal (particularly fund providers) is exposed to higher agency risk unless appropriate rules of protecting the right of the principal (or of punishing the agent when its opportunistic behavior is revealed) are devised, because the Muslim fund providers have the divine obligation to share risks in enterprise under the profit-loss sharing (PLS) scheme as well as to share a portion of income with the poor or those entrepreneurs who face difficulties in fund-raising. Originality/value Many scholars refer to the lack of the “formal” institutions that hinder the sound development of Islamic venture capital (VC). This paper contributes to shedding an analytical light on the unique feature of the Muslims’ “informal” constraints which make them hesitate to invest in Islamic VC. To develop the Islamic VC market, this paper provides a theoretical background to suggest how important it would be for the national financial system to devise some tangible provisions by installing enterprise-friendly regulations as well as adequate incentive and protection mechanisms consistent with Islamic principles.

scholarly journals Towards a Stakeholder-Oriented Blockchain-Based Architecture for Electronic Health Records: Design Science Research Study

10.2196/13585 ◽  
2019 ◽  
Vol 21 (10) ◽  
pp. e13585 ◽  
Author(s):  
Jan Heinrich Beinke ◽  
Christian Fitte ◽  
Frank Teuteberg
Keyword(s):  
Electronic Health Records ◽  
Data Security ◽  
Design Science ◽  
Science Research ◽  
Design Science Research ◽  
Future Research ◽  
Health Records ◽  
Blockchain Technology ◽  
Recommendations For Action ◽  
Electronic Health

Background Data security issues still constitute the main reason for the sluggish dissemination of electronic health records (EHRs). Given that blockchain technology offers the possibility to verify transactions through a decentralized network, it may serve as a solution to secure health-related data. Therefore, we have identified stakeholder-specific requirements and propose a blockchain-based architecture for EHRs, while referring to the already existing scientific discussions on the potential of blockchain for use in EHRs. Objective This study aimed to introduce blockchain technology for EHRs, based on identifying stakeholders and systematically eliciting their requirements, and to discuss the key benefits (KBs) and key challenges (KCs) of blockchain technology in the context of EHRs. Methods The blockchain-based architecture was developed in the framework of the design science research paradigm. The requirements were identified using a structured literature review and interviews with nine health care experts. Subsequently, the proposed architecture was evaluated using 4 workshops with 15 participants. Results We identified three major EHR stakeholder groups and 34 respective requirements. On this basis, we developed a five-layer architecture. The subsequent evaluation of the artifact was followed by the discussion of 12 KBs and 12 KCs of a blockchain-based architecture for EHRs. To address the KCs, we derived five recommendations for action for science and practice. Conclusions Our findings indicate that blockchain technology offers considerable potential to advance EHRs. Improvements to currently available EHR solutions are expected, for instance, in the areas of data security, traceability, and automation by smart contracts. Future research could examine the patient’s acceptance of blockchain-based EHRs and cost-benefit analyses.

scholarly journals Towards a Stakeholder-Oriented Blockchain-Based Architecture for Electronic Health Records: Design Science Research Study (Preprint)

2019 ◽  
Author(s):  
Jan Heinrich Beinke ◽  
Christian Fitte ◽  
Frank Teuteberg
Keyword(s):  
Electronic Health Records ◽  
Data Security ◽  
Design Science ◽  
Science Research ◽  
Design Science Research ◽  
Future Research ◽  
Health Records ◽  
Blockchain Technology ◽  
Recommendations For Action ◽  
Electronic Health

BACKGROUND Data security issues still constitute the main reason for the sluggish dissemination of electronic health records (EHRs). Given that blockchain technology offers the possibility to verify transactions through a decentralized network, it may serve as a solution to secure health-related data. Therefore, we have identified stakeholder-specific requirements and propose a blockchain-based architecture for EHRs, while referring to the already existing scientific discussions on the potential of blockchain for use in EHRs. OBJECTIVE This study aimed to introduce blockchain technology for EHRs, based on identifying stakeholders and systematically eliciting their requirements, and to discuss the key benefits (KBs) and key challenges (KCs) of blockchain technology in the context of EHRs. METHODS The blockchain-based architecture was developed in the framework of the design science research paradigm. The requirements were identified using a structured literature review and interviews with nine health care experts. Subsequently, the proposed architecture was evaluated using 4 workshops with 15 participants. RESULTS We identified three major EHR stakeholder groups and 34 respective requirements. On this basis, we developed a five-layer architecture. The subsequent evaluation of the artifact was followed by the discussion of 12 KBs and 12 KCs of a blockchain-based architecture for EHRs. To address the KCs, we derived five recommendations for action for science and practice. CONCLUSIONS Our findings indicate that blockchain technology offers considerable potential to advance EHRs. Improvements to currently available EHR solutions are expected, for instance, in the areas of data security, traceability, and automation by smart contracts. Future research could examine the patient’s acceptance of blockchain-based EHRs and cost-benefit analyses.

A Blockchain-Based Robotic Process Automation Mechanism in Educational Setting

2021 ◽  
pp. 17-41
Author(s):  
Nhlanhla Andrew Sibanyoni
Keyword(s):  
Design Science ◽  
Science Research ◽  
Educational Resources ◽  
Process Automation ◽  
Registration System ◽  
Robotic Process Automation ◽  
Blockchain Technology ◽  
School Of Choice ◽  
History Of ◽  
Robotic Automation

Blockchain technology and robotic process automation are increasingly the focus of attention in research, as these are both used successfully in business, marketing, manufacturing, and finance. However, their application in educational contexts is still emerging. This chapter uses an illustrative example of an online school registration system to explore how a blockchain-based robotic process automation mechanism can resolve the inherent challenges. The proposed system allows parents to register their Grade 1 and Grade 8 children for their school of choice. There is competition for places in certain schools and a history of unfair allocation of educational resources; hence, there is mistrust. To counter this threat, this study proposes a blockchain-based robotic automation process mechanism to fairly and transparently allocate educational resources. It recommends that further design science research be conducted in which the blockchain is supplemented by additional technological processes to enhance data-sharing in educational settings.

Infodemic amid the COVID-19 pandemic

First Monday ◽  
2020 ◽  
Author(s):  
Shekhar Shukla
Keyword(s):  
World Health Organization ◽  
Decision Makers ◽  
World Health ◽  
Policy Makers ◽  
Blockchain Technology ◽  
The World ◽  
Health Organization ◽  
Equivalence Mapping

The unfortunate arrival of the COVID-19 pandemic has also brought along with it a tsunami of information that can be both authentic and important as well as non-reliable and misguiding. The World Health Organization (WHO) coins this outburst of information in this era of pandemic as an infodemic. It becomes essential for societies to consume and act on trusted information in these times of uncertainty and grief. In this article, we describe and assess the role of blockchain technology and its features to establish an environment of a trusted information ecosystem. We present an equivalence mapping of these important parameters to curb an infodemic with blockchain technology features and applications. This equivalence mapping provides a directional sense to stakeholders, decision-makers, policy-makers and investors to gauge and synthesize the potential of blockchain technology for tackling an infodemic.

scholarly journals Know-Your-Customer (KYC) Requirements for Initial Coin Offerings

2020 ◽  
Author(s):  
Nadine Kathrin Ostern ◽  
Johannes Riedel
Keyword(s):  
Conceptual Models ◽  
Design Science ◽  
Cost Effective ◽  
Science Research ◽  
Research Approach ◽  
Legal Certainty ◽  
Compliance Costs ◽  
Blockchain Technology ◽  
Expected Compliance ◽  
Initial Coin Offerings

AbstractBlockchain technology is often proposed as an infrastructure for decentralized Know-Your-Customer (KYC) verification, i.e., a process determining whether a customer is eligible for a given transaction. The benefit of using blockchain technology lies in the expected compliance costs reduction for companies by automatically enforcing KYC-requirements, whose results are accessible by multiple financial institutions. While information systems researchers have proposed conceptual models and prototypes of blockchain-based KYC-systems, they do not yet consider severe penalties that are applicable to companies if KYC-requirements are not met. Hence, if the legal requirements for KYC-processes cannot be met, these systems are not applicable. The paper uses an objective-centered design science research approach to develop a blockchain-based KYC-system for the conduct of ICOs that is compliant-by-design. To this end, the authors first identify existing KYC-requirements and define corresponding system design objectives that are used to develop a KYC-system that automatically enforces KYC-regulations, thereby preventing money laundering and other forms of identity fraud. Second, the authors contribute to the literature by providing a blueprint for compliant-by-design blockchain-based KYC-systems, in the paper, integrated into the investment flow of an ICO. Third, the authors propose a KYC-system that is applicable in the real world, by making – due to legal certainty – KYC-processes cost-effective, i.e., the proposed blockchain-based KYC-system expectably reduces compliance costs for customers and financial organizations.

scholarly journals The Role of CSR on Social Entrepreneurship: An International Analysis

2020 ◽  
Vol 12 (17) ◽  
pp. 6976
Author(s):  
Inmaculada Buendía-Martínez ◽  
Inmaculada Carrasco Monteagudo
Keyword(s):  
Social Entrepreneurship ◽  
Cultural Context ◽  
Structural Equation ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Research Trend ◽  
Policy Makers ◽  
The Subject ◽  
Corporate Social

The increase in the weight of social entrepreneurship (SE) in the economy has driven the increase in research on the subject. Within the set of approaches developed by scholars to analyse SE, the institutional approach has recently acquired greater relevance. Following this research trend, this article seeks to expand the empirical research on SE by focusing on the informal factors that are less studied in the literature and using a cross-national base. Using the New Institutional Economics and partial least squares–structural equation modelling (PLS-SEM), our findings show the influence of cultural context on the SE dimension. In addition, this influence occurs through two groups of variables led by social capital and corporate social responsibility, although their impacts show opposite signs. These factors have important implications for policy makers in charge of fostering SE development.

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