The Blockchain: Opportunities for Research in Information Systems and Information Technology
15 Oct 2019-Journal of Global Information Technology Management (Routledge)-Vol. 22, Iss: 4, pp 235-242
TL;DR: The present editorial will prove useful not only to those researchers who have earlier made attempts to publish IS research on the blockchain and cryptocurrency usage technology but also to those who intend to explore the new field and look forward to publishing their work for the first time in the near future.
Abstract: Blockchain technology is regarded by many IT innovators and experts as one of the most significant technological innovations in recent years in the field of digitization of secure ownership of asse...
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01 Nov 2022
TL;DR: In this paper , the authors proposed a cost-effective approach towards an enhancement of blockchain consensus targeting enhanced data security and privacy in the Industry 4.0 scenario by incorporating an enhanced reputation score at a cost effective approach.
Abstract: This research presents a cost-effective approach toward an enhancement of Blockchain consensus targeting enhanced data security and privacy in the Industry 4.0 scenario by incorporating an enhanced reputation score at a cost-effective approach. Cellular Automata (CAs)-based PageRank validation (i.e., an extended PageRank) algorithm is incorporated towards consensus design in Blockchain Trilemma to facilitate cost-effectiveness in Industry 4.0 scenario. A detailed investigation is carried out to explore the true potential for CAs-based PageRank validation towards computation of Reputation score in Blockchain Trilemma. Further investigations and experimental analysis for the proposed approach towards computation of Reputation scores explore the efficiency of the proposed CAs-based PageRank validation-based approach over several existing approaches e.g., PageRank, NCDawareRank, and HodgeRank-based approaches. Additionally, energy efficiency in the proposed approach is ensured as low-energy consumption may be achieved with CAs-based physical modeling.
2 citations
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04 Mar 2022
TL;DR: A mining pool simulator for blockchain applications called BCSimMP (a Blockchain Simulator with Mining Pool), which simulates using Proof-of-Work consensus and also simulates a group of miners (pool miners) working together to solve the existing puzzle to generate a block.
Abstract: A blockchain network is a collection of nodes that are interconnected with each other. One of the toughest tasks on these nodes is as a mining node. Playing an active role as a node miner in a blockchain network requires enormous resources, especially on blockchain networks that implement Proof-of-work consensus. Solo miners will get an enormous reward but require hardware resources with very high computing capabilities. Therefore, the pool miner approach or miners who work in groups will have more benefit because the group will jointly support the very high computational needs. However, the rewards that each miner node will obtain will be adjusted based on the contribution made. This paper presents a mining pool simulator for blockchain applications called BCSimMP (a Blockchain Simulator with Mining Pool). BCSimMP simulates using Proof-of-Work consensus and also simulates a group of miners (pool miners) working together to solve the existing puzzle to generate a block. The simulator is using the multiprocessing mechanism in Python. In addition, leading-zero is used as a puzzle to solve during block-time generation. The share reward for each participant node miner and a special reward for a miner that can solve the puzzle. Our application shows the mining process carried out by miners in groups compare to a solo miner. The user can initially set the number of node users, the number of tasks/transactions per block, the number of node miners, and the difficulty level for the target puzzle. The reward given for successfully generating blocks on this application is distributed proportionally to all miners in the group. With this BCSimMP, users can learn how the mining pool works and the mechanism of the rewards obtained before deciding to join as a miner in the blockchain network.
1 citations
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TL;DR: In this paper, a case study of blockchain used to address real business problems in the Italian banking sector is presented, using an exploratory case of the banking research and innovation center promot...
Abstract: This paper discusses a case study of blockchain used to address real business problems in the Italian banking sector. We use an exploratory case of the banking research and innovation centre promot...
1 citations
Cites background from "The Blockchain: Opportunities for R..."
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TL;DR: A blockchain-based solution to verify the country visit trail and disease and treatment history of the passengers who arrive at the immigration counters located at various national borders and entry points is proposed and a fuzzy inference based suspect identifier system is presented in this article that could be utilized to make further decisions based on the degree of suspicion observed on a particular passenger.
Abstract: Purpose: The purpose for writing this article is derived from the misery and chaos prevalent in the world due to the coronavirus pandemic – since late 2019 and still continuing as of December 2020. Design/methodology/approach: A blockchain-based solution to verify the country visit trail and disease and treatment history of the passengers who arrive at the immigration counters located at various national borders and entry points is proposed. A fuzzy inference based suspect identifier system is also presented in this article that could be utilized to make further decisions based on the degree of suspicion observed on a particular passenger. Findings: This paper attempted to put forth a blockchain-based system which consumes the healthcare and visit trail summary of a passenger (appearing for an interview before an immigration officer) and forwards it to a fuzzy inference system to reach to a conclusion that the passenger should be advised to self-quarantine, detained, or should be allowed to enter. Such a system would help to make correct decisions at the immigration counters to check pandemic diseases, like COVID-19, right at the entry points. Research limitations/implications: The implications of this work are manifold. First, the proposed framework works independent of the type of pandemic and is a readymade tool to check the spread of disease through infected human carriers. Second, the proposed framework will keep the mortality rates under check, which would give ample time for the authorities to save the lives of the people with co-morbidities and age vulnerabilities (Vichitvanichphong et al., 2018). Third, it is a general phenomenon to restrict the flights from the country where the first few cases of infection are discovered;however, the infected person, at the same time, might travel through alternative routes. The blockchain-enabled proposed framework ensures the detection of such cases at no other cost. Finally, the solution may appear costly in the first place, but it has the potential to hold back the revenue of the countries that would otherwise be spent on reactive measures. Originality/value: As of now no other study or research article provides the solution to the biggest problem persists in the world in this way. The contribution is original and worth applying. © 2021, Emerald Publishing Limited.
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References
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TL;DR: This paper critically examines how blockchains, a potentially disruptive technology that is early in its evolution, can overcome many potential barriers and proposes future research propositions and directions that can provide insights into overcoming barriers and adoption of blockchain technology for supply chain management.
Abstract: Globalisation of supply chains makes their management and control more difficult. Blockchain technology, as a distributed digital ledger technology which ensures transparency, traceability, and sec...
738 citations
Book•
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07 May 2016
TL;DR: The technology likely to have the greatest impact on the future of the world economy has arrived, and its not self-driving cars, solar energy, or artificial intelligence, its called the blockchain, a new, distributed platform that can help reshape the world of business and transform the old order of human affairs for the better.
Abstract: The technology likely to have the greatest impact on the future of the world economy has arrived, and its not self-driving cars, solar energy, or artificial intelligence. Its called the blockchain. The first generation of the digital revolution brought us the Internet of information. The second generationpowered by blockchain technologyis bringing us the Internet of value: a new, distributed platform that can help us reshape the world of business and transform the old order of human affairs for the better. Blockchain is the ingeniously simple, revolutionary protocol that allows transactions to be simultaneously anonymous and secure by maintaining a tamperproof public ledger of value. Though its the technology that drives bitcoin and other digital currencies, the underlying framework has the potential to go far beyond these and record virtually everything of value to humankind, from birth and death certificates to insurance claims and even votes. Why should you care? Maybe youre a music lover who wants artists to make a living off their art. Or a consumer who wants to know where that hamburger meat really came from. Perhaps youre an immigrant whos sick of paying big fees to send money home to loved ones. Or an entrepreneur looking for a new platform to build a business. And those examples are barely the tip of the iceberg. This technology is public, encrypted, and readily available for anyone to use. Its already seeing widespread adoption in a number of areas. For example, forty-two (and counting) of the worlds biggest financial institutions, including Goldman Sachs, JPMorgan Chase, and Credit Suisse, have formed a consortium to investigate the blockchain for speedier and more secure transactions. As with major paradigm shifts that preceded it, the blockchain will create winners and losers. And while opportunities abound, the risks of disruption and dislocation must not be ignored. Don Tapscott, the bestselling author of Wikinomics, and his son, blockchain expert Alex Tapscott, bring us a brilliantly researched, highly readable, and utterly foundational book about the future of the modern economy. Blockchain Revolution is the business leaders playbook for the next decade and beyond.
701 citations
"The Blockchain: Opportunities for R..." refers background in this paper
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TL;DR: The most important contribution in economics in the twenty-first century is the paper Bitcoin: A Peer-to-Peer Electronic Cash System, published via a mailing list for cryptography in 2008 under the pseudonym Satoshi Nakamoto.
Abstract: The most important contribution in economics in the twenty-first century is the paper Bitcoin: A Peer-to-Peer Electronic Cash System. It was published via a mailing list for cryptography in 2008 under the pseudonym Satoshi Nakamoto. The basic idea of the paper was to create “A purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution.”
261 citations
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