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1 – 10 of over 1000
Open Access
Article
Publication date: 16 August 2019

Tianyu Feng, Xiao Yu, Yueting Chai and Yi Liu

The application of smart contract can greatly reduce transaction costs and improve transaction efficiency. The existing smart contract are expensive, single application scenario…

5246

Abstract

Purpose

The application of smart contract can greatly reduce transaction costs and improve transaction efficiency. The existing smart contract are expensive, single application scenario and inefficient. This paper aims to propose a new smart contract model to solve these problems.

Design/methodology/approach

By investigating the research history, models and platforms, this paper summarizes the shortcomings of existing smart contracts. Based on the content and architecture of traditional contract, a smart contract model with wider application scope is designed.

Findings

In this paper, several models are used to describe the operation mechanism of smart contracts. To facilitate computer execution, a decomposition method is proposed, which divides smart contracts into several sub-contracts. Then, the advantages and deployment methods of smart contract are discussed. On this basis, a specific example is given to illustrate how the application of smart contract will change our life.

Originality/value

Smart contract is gradually applied to more fields. In this paper, the structure and operation mechanism of smart contract system in reality are given, which will be beneficial to the application of smart contract to more complex systems.

Details

International Journal of Crowd Science, vol. 3 no. 2
Type: Research Article
ISSN: 2398-7294

Keywords

Open Access
Article
Publication date: 24 December 2020

Christian Hugo Hoffmann

Following the call for strengthening the third pillar of knowledge in entrepreneurship as well as work-applied management contexts constituted by pragmatic design principles, we…

3025

Abstract

Purpose

Following the call for strengthening the third pillar of knowledge in entrepreneurship as well as work-applied management contexts constituted by pragmatic design principles, we present a case study on an insurtech for insurance firms specialized in smart contract insurance solutions such as flight delay or ski resort insurance.

Design/methodology/approach

Design science.

Findings

This not only serves as a pointer for how insurances may master their digital transformation while remaining competitive. But moreover, on the meta level, we find that the adoption of entrepreneurial design principles by the students, whose experiential project represents our case study, does not necessarily require continuous support or foundational knowledge to be delivered beforehand. However, for a deeper or more holistic assessment of the case sketched in their project, it makes sense to introduce them to newer developments such as the simple, practical framework of the Entrepreneur's Question Index.

Originality/value

Innovative teaching method on innovative topics.

Details

Journal of Work-Applied Management, vol. 13 no. 1
Type: Research Article
ISSN: 2205-2062

Keywords

Open Access
Article
Publication date: 11 May 2020

Zhizhao Zhang, Tianzhi Yang and Yuan Liu

The purpose of this work is to bridge FL and blockchain technology through designing a blockchain-based smart agent system architecture and applying in FL. and blockchain…

2225

Abstract

Purpose

The purpose of this work is to bridge FL and blockchain technology through designing a blockchain-based smart agent system architecture and applying in FL. and blockchain technology through designing a blockchain-based smart agent system architecture and applying in FL. FL is an emerging collaborative machine learning technique that trains a model across multiple devices or servers holding private data samples without exchanging their data. The locally trained results are aggregated by a centralized server in a privacy-preserving way. However, there is an assumption where the centralized server is trustworthy, which is impractical. Fortunately, blockchain technology has opened a new era of data exchange among trustless strangers because of its decentralized architecture and cryptography-supported techniques.

Design/methodology/approach

In this study, the author proposes a novel design of a smart agent inspired by the smart contract concept. Specifically, based on the proposed smart agent, a fully decentralized, privacy-preserving and fair deep learning blockchain-FL framework is designed, where the agent network is consistent with the blockchain network and each smart agent is a participant in the FL task. During the whole training process, both the data and the model are not at the risk of leakage.

Findings

A demonstration of the proposed architecture is designed to train a neural network. Finally, the implementation of the proposed architecture is conducted in the Ethereum development, showing the effectiveness and applicability of the design.

Originality/value

The author aims to investigate the feasibility and practicality of linking the three areas together, namely, multi-agent system, FL and blockchain. A blockchain-FL framework, which is based on a smart agent system, has been proposed. The author has made several contributions to the state-of-the-art. First of all, a concrete design of a smart agent model is proposed, inspired by the smart contract concept in blockchain. The smart agent is autonomous and is able to disseminate, verify the information and execute the supported protocols. Based on the proposed smart agent model, a new architecture composed by these agents is formed, which is a blockchain network. Then, a fully decentralized, privacy-preserving and smart agent blockchain-FL framework has been proposed, where a smart agent acts as both a peer in a blockchain network and a participant in a FL task at the same time. Finally, a demonstration to train an artificial neural network is implemented to prove the effectiveness of the proposed framework.

Details

International Journal of Crowd Science, vol. 4 no. 2
Type: Research Article
ISSN: 2398-7294

Keywords

Open Access
Article
Publication date: 23 July 2020

Amol Thakre, Fadi Thabtah, Seyed Reza Shahamiri and Suhel Hammoud

Bitcoin is among the highest rated digital crypto-currency in financial investment markets. This technology relies on a backbone of distributed data architecture and peer-to-peer…

1117

Abstract

Bitcoin is among the highest rated digital crypto-currency in financial investment markets. This technology relies on a backbone of distributed data architecture and peer-to-peer networking model called Blockchain. Unlike the current digital economy, which is governed centrally by financial institution or governments, Blockchain is fully autonomous without any third-party involvement. The exorbitant success of Bitcoin has attracted investors, scholars as well as organizations to peek into this lucrative technology for the possible application to other areas apart from crypto-currency. Blockchain can adopt Smart Contracts, which are digitally enabled contracts that can be executed and enforced fully or partially using pre-defined notions. The aim of this research is to investigate the synergy between Smart Contract and Blockchain to propose a digital framework for an academic paper publication model that has the capability to automate the entire process and challenge the existing system. It can also bring together all the stakeholders under the same system. The proposed model can further hold the stakeholders accountable for breach of contracts and/or reward them for executing the successes of terms pre-configured in the Smart Contract. The proposed model, called Digital Smart Publication or DSP (as referred in the document), is highly secure and ensures balance in distributing rewards to the involved stakeholders while keeping data integrity and security as paramount features.

Details

Applied Computing and Informatics, vol. 18 no. 3/4
Type: Research Article
ISSN: 2634-1964

Keywords

Open Access
Article
Publication date: 24 May 2021

Dhruman Gohil and Shivangi Viral Thakker

Blockchain technology was developed to synchronize the data and transactions over the supply chain network and connected nodes. This paper aims to show how blockchain technology…

9874

Abstract

Purpose

Blockchain technology was developed to synchronize the data and transactions over the supply chain network and connected nodes. This paper aims to show how blockchain technology can enhance flexibility and agility in supply chain operations. The integration of blockchain and other recently developed technology can help deal with supply chain uncertainties and other challenges being faced by the industry.

Design/methodology/approach

Through an extensive literature review of existing research papers and conversation with supply chain managers, barriers and challenges in the supply chain were identified. Some elements were researched of blockchain technology that can be used to resolve some challenges. Blockchain technology and other technologies integration is developed for implementation in supply chain for better visibility and efficiency of supply chain.

Findings

The challenges in the supply chain are categorized, and the solution is given through the integration of blockchain and other technologies like Internet of Things and artificial intelligence. The integration shows the execution of tasks through blockchain and various technologies in supply chain.

Research limitations/implications

Blockchain in supply chain is finding its strong place in India when compared to developing nations. There is a need for technology experts, supply chain managers and consumers to understand blockchain’s importance. Challenges faced by industries to use blockchain may be analyzed further with real-life industry case studies.

Practical implications

This research helps enterprises in successful execution of smart technologies in their supply chains. This research helps enterprises in successful execution of smart technologies in their supply chains. Managers and practitioners may use the models developed in real-time implementation. The technologies are described in detail to help the practitioners select the best suitable for their organization.

Social implications

Digital supply chains are finding the way in industries due to lean and efficient nature. It is beneficial to use the smart technologies to make supply chain green and sustainable.

Originality/value

The implementation of the digital supply chain and its challenges are discussed in the research paper. This will work as a platform for research in the area of technologies for supply chain.

Details

Modern Supply Chain Research and Applications, vol. 3 no. 2
Type: Research Article
ISSN: 2631-3871

Keywords

Content available
Article
Publication date: 2 September 2021

Saheed Abdullahi Busari and Sikiru Olanrewaju Aminu

This study aims to explore the opportunities and challenges in activating a Smart Contract to enhance the efficiency and effectiveness of Ṣukūk offerings in the Islamic capital…

Abstract

Purpose

This study aims to explore the opportunities and challenges in activating a Smart Contract to enhance the efficiency and effectiveness of Ṣukūk offerings in the Islamic capital market.

Design/methodology/approach

The study adopts a mono-method qualitative approach. Data were obtained from survey interviews of two issuances on the fusion of smart contracts in Ṣukūk structures that were Sharīʿah-compliant. A thematic approach was further used to analyze the interview data based on the onion research method while opportunities and challenges of activating the Smart Ṣukūk (SṢ) relied on doctrinal evidence.

Findings

The results from the issuances across two jurisdictions showed that deployment of SṢ can resolve contractual ambiguities arising from Sharīʿah interpretations, jurisdictional policies and legal regime issues, which affect Ṣukūk origination and issuances especially on the right of investors in the event of Ṣukūk defaults. Although SṢ is automated, the third party’s presence is not eliminated as the blockchain platform still relies on the validators who are usually blockchain developers functioning as a third party in the Ṣukūk chain.

Research limitations/implications

The study relies on doctrinal literature to explain the features and requirements of SṢ. The empirical approach is limited to interview data based on local SṢ issuances. Future studies need to explore regulators’ role and global standards in cross-border issuance of SṢ with multiple jurisdictions/laws.

Practical implications

The paper concludes that the offering of SṢ using local currency has been successful in the two issuances because of the facilitative regulatory environment. However, addressing Ṣukūk’s challenges in cross-border offerings would require guidance from international standard-setters such as the Accounting and Auditing Organization for Islamic Financial Institutions and the Islamic Financial Services Board.

Originality/value

This study is an advanced application of smart contracts to alleviate the related Ṣukūk challenges in the Islamic capital market.

Details

Journal of Islamic Accounting and Business Research, vol. 13 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Open Access
Article
Publication date: 14 February 2020

Rosa M. Garcia-Teruel

Blockchain, which was originally created to enable peer-to-peer digital payment systems (bitcoin), is considered to have several benefits for different sectors, such as the real…

16960

Abstract

Purpose

Blockchain, which was originally created to enable peer-to-peer digital payment systems (bitcoin), is considered to have several benefits for different sectors, such as the real estate one. In a standard European-wide real estate transaction, several intermediaries are involved. As a consequence, these agreements are usually time-consuming and involve extra difficulties to cross-border operations. As blockchain, combined with smart contracts, may have an important role in these transactions, this paper aims to explore its prospective challenges, limitations and opportunities in the real estate sector and discover how the traditional intermediaries have to face a possible implementation of this technology.

Design/methodology/approach

This paper analyses the current intermediaries in the real estate sector in European Union (EU), their functions and how can blockchain strengthen the security of these transactions while reducing their time. The author uses a legal methodology to approach it.

Findings

Blockchain, combined with smart contracts, has both challenges and opportunities for the real estate sector. On the one hand, it may improve procedures, allow EU transactions and the interconnection between public administration. However, to not reduce parties rights, this blockchain should have some special features, such as the possibility of being amended.

Originality/value

This paper provides a valuable overview of all the intermediaries that could be affected by blockchain protocols. It is of interest of blockchain developers, public administrations and researchers who are working on blockchain and property conveyancing.

Details

Journal of Property, Planning and Environmental Law, vol. 12 no. 2
Type: Research Article
ISSN: 2514-9407

Keywords

Open Access
Article
Publication date: 6 March 2020

Marzia Morena, Tommaso Truppi, Angela Silvia Pavesi, Genny Cia, Jacopo Giannelli and Marco Tavoni

This paper aims at investigating the possibility of effectively implementing the blockchain technology in the real estate environment, specifically applied to the Trust legal…

4010

Abstract

Purpose

This paper aims at investigating the possibility of effectively implementing the blockchain technology in the real estate environment, specifically applied to the Trust legal instrument in Dopo di Noi (After Us) project, which is intended to guarantee assistance to persons with severe disabilities.

Design/methodology/approach

The paper is focused on how to apply the blockchain to the tool of Trust, analyzing the main features and characteristics of this technology.

Findings

The paper proposes two potential solutions for managing the Trust tool in the real estate sector, specifically within the Dopo di Noi project. The first simpler proposal is based on timestamping application. The second one radically changes the classical Trust model and introduces an automatization level in the process.

Social implications

The paper presents potential applications of the blockchain technology within the framework of Dopo di Noi project, which allows among other features, legal and tax facilitation for the institution of Trusts to benefit persons with severe disabilities.

Originality/value

This paper highlights the potentiality of the combination of the blockchain technology and the real estate environment and applies the blockchain technology to the Dopo di Noi project. Specifically, with the second solution, the paper proposes a platform that gathers, in a single network, various elements of the blockchain technology, such as timestamping, smart property, smart contract, and links them in order to provide services to persons with severe disabilities.

Details

Property Management, vol. 38 no. 2
Type: Research Article
ISSN: 0263-7472

Keywords

Open Access
Article
Publication date: 30 August 2022

Sven Markus and Paul Buijs

This paper aims to contribute to the debate about the value of blockchain for supply chain management by assessing empirical evidence on the relationship between blockchain and…

4673

Abstract

Purpose

This paper aims to contribute to the debate about the value of blockchain for supply chain management by assessing empirical evidence on the relationship between blockchain and supply chain performance.

Design/methodology/approach

The authors conducted a structured review of the academic literature to identify and assess papers providing empirical insight on operational blockchain applications. The authors complement the findings from this review with primary empirical data from 11 interviews with blockchain providers, users and experts involved in four recent projects.

Findings

The paper presents an integrated research framework that illustrates the impact of blockchain on supply chain performance. The findings highlight that blockchain can affect supply chain performance directly – via one of its core technological features – and indirectly via the broader business project through which blockchain technology is implemented.

Practical implications

Insights from this paper should provide managers with a more nuanced understanding of how blockchain technology can be leveraged to address important supply chain management challenges.

Originality/value

Prior research addressing the relationship between blockchain and supply chain performance mostly discusses potential performance effects of blockchain, presents individual blockchain applications and/or provides little explanation for how the core technological features of blockchain affect supply chain performance. This paper systematically assesses the ways in which blockchain can affect supply chain performance. In doing so, it goes beyond the initial hype around blockchain technology while countering some of the more recent critiques.

Details

Supply Chain Management: An International Journal, vol. 27 no. 7
Type: Research Article
ISSN: 1359-8546

Keywords

Open Access
Article
Publication date: 17 June 2022

Pietro De Giovanni

This paper aims to analyze the benefits of the blockchain to the circular economy (CE), which is composed of both closed-loop supply chain (CLSC) systems and reverse omnichannel…

4413

Abstract

Purpose

This paper aims to analyze the benefits of the blockchain to the circular economy (CE), which is composed of both closed-loop supply chain (CLSC) systems and reverse omnichannel solutions. By ensuring transparency, traceability, visibility and security, the blockchain allows firms to acquire operational capabilities through a CLSC and service capabilities through a reverse omnichannel, which can boost business performance considerably. The related network of relationships can be reinforced by establishing incentives, which entail both smart contracts in the blockchain and active return approaches in CE.

Design/methodology/approach

After identifying the boundaries of the theoretical framework, several research hypotheses are developed according to the literature review and emerging gaps. These gaps link to the impact of the blockchain on CE systems (CLSC and reverse omnichannel), as well as the influence on business performance. The hypotheses are then tested using structural equation modeling and adopting a partial least squares-path modeling technique on a dataset composed of 157 firms. Finally, multigroup analysis is used to test the impact of incentives on the research hypotheses.

Findings

The blockchain facilitates a more efficient CE system, although reverse omnichannel solutions seldom bring any benefits to performance. The shift from a passive to an active return approach must be carefully evaluated. The CLSC network can benefit from an active return approach by developing appealing incentives for collectors and enhancing the positive effects of the blockchain. In contrast, consumer incentives can have detrimental effects on the blockchain. Various combinations of incentives can only bring a few business performance increases, while collector incentives are vital to reinforce the CE system's operational and service capabilities.

Originality/value

This paper takes a new approach toward the study of CE, which considers a dual circular system composed of a CLSC and a reverse omnichannel. The research explores whether the adoption of blockchain technology enables better return processes by improving the operations in CLSC and services in reverse omnichannel. Finally, this is the first empirical work to evaluate the benefits emerging from incentives, which can activate smart contracts in the blockchain and enable active return approaches in CE.

Details

International Journal of Operations & Production Management, vol. 42 no. 7
Type: Research Article
ISSN: 0144-3577

Keywords

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