Accounting for crypto-assets: stakeholders’ perceptions

Purpose The purpose of this paper is to analyse stakeholders’ perceptions on the accounting of crypto-assets. They also look at the need to amend/clarify existing accounting standards or develop new accounting standards. Design/methodology/approach The authors use a qualitative approach featuring interviews with four stakeholder groups including academics, professional bodies, standard setters and accounting practitioners. Interview recordings are transcribed and then analysed through NVivo. Findings The interviewees identify various issues in the application of current accounting standards to crypto-assets. The interviewees perceive that the rapid development of crypto-assets and fluidity hinder the development of accounting guidance. Hence, continuous monitoring by standard-setters is required. The general consensus is that unless there are crypto-assets with economic characteristics and functionality that are pervasive enough to warrant a new accounting standard, principles of current accounting standards are robust to address gaps in accounting requirements for crypto-assets. Originality/value This study adds to the discussion on harmonising the current practices in accounting of crypto-assets. By examining perceptions of multiple stakeholder groups, this study provides insights into the applicability of current accounting standards to the classification, measurement and disclosure of crypto-assets. The findings will inform standard setters and aid their efforts towards providing formal guidance on the accounting of crypto-assets.

A Multiple Stakeholder Perspective on the Drivers and Barriers for the Implementation of Lifestyle Monitoring using Infrared Sensors to Record Movements for Vulnerable Older Adults Living Alone at Home: A Qualitative Study

A variety of technologies classified as lifestyle monitoring (LM) allows, by unobtrusive monitoring, for supporting of living alone at home of vulnerable older adults, especially persons with neurocognitive disorders such as dementia. It can detect health deterioration, facilitate early intervention, and possibly help people avoid hospital admission. However, for LM to redeem its intended effects, it is important to be adopted by involved stakeholders such as informal and formal caregivers and care managers. Therefore, the aim of this qualitative study is to understand factors that drive or impede successful implementation of LM for vulnerable older adults, specifically using infrared sensors to record movements, studied from a multiple stakeholder perspective. An open coding process was used to identify key themes of the implementation process. Data were arranged according to a thematic framework based on the normalization process theory (NPT). All stakeholders agreed that LM could lead to various health benefits for older adults using LM. However, some did not perceive the LM system to be cost-efficient and expressed a need for more flexible health care structures for LM to be successfully implemented. All stakeholders acknowledged the fact that LM requires a transition of care and responsibilities, a clear eligibility strategy for clients, and a clear ambassador strategy for health care professionals, as well as reliable technology. This study highlights the complex nature of implementing LM and suggests the need for alignment within constructs of the NPT among stakeholders about new ways of collaboration in supporting living alone at home.

Harmony and Tension in Integrating Indigenous Responses to COVID-19 in Uganda

Coronavirus poses a global health challenge. Amidst uncertainties associated with the pandemic, effective response requires multiple stakeholder involvement. The performance of ryemo gemo, an indigenous epidemic control measure among the Acholi in Uganda as part of the response to COVID-19 evoked responses that highlighted both harmony and tension in integrating a traditional response in the national efforts. We review the directives, the cultural context of the practice of ryemo gemo and reactions it evoked on social and print media, and discuss points of convergence and divergence in integrating the traditional practice, and compounding factors of tension. The complexity of the social challenges, the lack of shared worldview in regards to the indigenous measure, cultural disconnect and lack of clear impact assessment underlie the tension. The power of indigenous measures for sensitization and mobilization can be harnessed in the COVID-19 fight by strengthening appropriate behavioral outputs consistent with the pandemic control.

Organizational Challenges of Development and Implementation of Virtual Reality Solution for Industrial Operation

This research investigated the organizational challenges related to the development and implementation of virtual reality (VR) technology for operation in a conservative heavy machinery industry. The incorporation of a VR solution for heavy machinery equipment enhanced the safety and convenience of operation under dangerous work conditions. However, the development and implementation processes faced challenges. Furthermore, the adoption of the solution by users was perceived to be slower than anticipated. We aimed to explore the main challenges that the developer organization faced and how it also influenced user organizations. Due to the exploratory nature of the research, qualitative analysis was chosen, interviews were conducted, and thematic analysis was applied. The themes and subthemes were identified and discussed. The results showed the existence of challenges related to technology maturity, managerial challenges regarding communication and support coordination, workload, and multiple stakeholder management. The findings emphasize the importance of attending to the existing and potential organizational challenges before and throughout technological innovation. Theoretical and managerial implications are discussed, and a future research agenda is suggested.

Open Research Questions for Incorporating Multi-Stakeholder Interests in Engineering for Global Development

There is potential for multi-stakeholder social impact design approaches to help advance design and modeling processes in engineering for global development. Adding multiple stakeholders, however, raises questions about how to choose stakeholders, weight their preferences, and ultimately model the perceived or actual impacts of products on stakeholders. While methods for handling the interests of multiple stakeholders exist in the literature, they are not without problems that are often exacerbated when modeling social impact in an engineering for global development setting. The purpose of this paper is to articulate some of the barriers and open research questions for handling multiple stakeholder interests during the process of designing engineering for global development products. Six challenges and sixteen research questions are presented.

Stakeholder Perspectives on Blue Mussel Farming to Mitigate Baltic Sea Eutrophication

Here, we present an application of systems thinking to controlling Baltic Sea eutrophication—a wicked environmental problem characterized by multiple stakeholder perspectives and no single, agreed upon solution. The Baltic Sea is one of the most polluted waterbodies in the world. More than 40 years of land-based (linear) measures have failed to adequately control eutrophication, yet internal (circular) measures are rarely used. Farming native blue mussels for nutrient capture has been proposed as one measure for eutrophication control, but the relevant stakeholders disagree as to its environmental, social and economic benefits. Here, we present the views of four Swedish stakeholder groups—academics, entrepreneurs, municipal government employees and representatives of non-governmental organizations (NGOs)—on the sustainability of native blue mussel farming, a circular measure for eutrophication control. Using semi-structured interviews, we elicited stakeholder perspectives on the environmental, economic and social dimensions of blue mussel farming. The interviewees generally agreed that blue mussel farming is not currently economically sustainable, but that it can contribute to the social sustainability of coastal regions. Academics were skeptical of the environmental benefits, claiming that farms could reinforce eutrophication, whereas the remaining stakeholder groups argued for its potential to mitigate eutrophication. In a roundtable discussion conducted one year after the original interviews, all stakeholder groups agreed that blue mussel farming alone will not fix Baltic Sea eutrophication, but can be part of the solution together with land-based measures. All groups also agreed on the need for cautious upscaling, continuous environmental monitoring and constant improvement if blue mussel farms are to be part of a “toolkit” for eutrophication control. Our results highlight the fact that wicked environmental problems can be addressed when multiple stakeholder groups with differing perspectives have the opportunity to achieve consensus through dialog.

Microphysiological Systems: Stakeholder Challenges to Adoption in Drug Development

Microphysiological systems (MPS) or tissue chips/organs-on-chips are novel <i>in vitro</i> models that emulate human physiology at the most basic functional level. In this review, we discuss various hurdles to widespread adoption of MPS technology focusing on issues from multiple stakeholder sectors, e.g., academic MPS developers, commercial suppliers of platforms, the pharmaceutical and biotechnology industries, and regulatory organizations. Broad adoption of MPS technology has thus far been limited by a gap in translation between platform developers, end-users, regulatory agencies, and the pharmaceutical industry. In this brief review, we offer a perspective on the existing barriers and how end-users may help surmount these obstacles to achieve broader adoption of MPS technology.