Related papers: Contract-Backed Digital Cash
Web 3.0 pursues the establishment of decentralized ecosystems based on blockchain technologies to drive the digital transformation of physical commerce and governance. Through consensus algorithms and smart contracts in blockchain, which…
The current crisis, at the time of writing, has had a profound impact on the financial world, introducing the need for creative approaches to revitalising the economy at the micro level as well as the macro level. In this informal analysis…
Currently, there is no universal method to track who shared what, with whom, when and for what purposes in a verifiable way to create an individual incentive for data owners. A platform that allows data owners to control, delete, and get…
We introduce blockchains and distributed ledgers and describe their potential applications to money and banking. The analysis compares public and private ledgers and outlines the suitability of various types of ledgers for different…
Since it takes time and effort to put a new product or service on the market, one would like to predict whether it will be a success. In general this is not possible, but it is possible to follow best practices in order to maximise the…
Smart contracts are regarded as one of the most promising and appealing notions in blockchain technology. Their self-enforcing and event-driven features make some online activities possible without a trusted third party. Nevertheless,…
We suggest the re-introduction of bartering to create a cryptocurrencyless, currencyless, and moneyless economy segment. We contend that a barter economy would benefit enterprises, individuals, governments and societies. For instance, the…
Context: Smart contracts are computerized self-executing contracts that contain clauses, which are enforced once certain conditions are met. Smart contracts are immutable by design and cannot be modified once deployed, which ensures…
Smart contracts enable users to execute payments depending on complex program logic. Ethereum is the most notable example of a blockchain that supports smart contracts leveraged for countless applications including games, auctions and…
We present efficient protocols for amortized secure multiparty computation with penalties and secure cash distribution, of which poker is a prime example. Our protocols have an initial phase where the parties interact with a cryptocurrency…
Implementing smart contracts to automate the performance of high-value over-the-counter (OTC) financial derivatives is a formidable challenge. Due to the regulatory framework and the scale of financial risk if a contract were to go wrong,…
Digital payments have replaced physical banknotes in many aspects of our daily lives. Similarly to banknotes, they should be easy to use, unique, tamper-resistant and untraceable, but additionally withstand digital attackers and data…
Blockchain technology promises to democratize finance and promote social equity through decentralization, but questions remain about whether current implementations advance or hinder these goals. Through a mixed-methods study combining…
Blockchain, Smart Contracts and Distributed Ledger Technology (DLT) are being touted to revolutionise digital services - through decentralisation. Cryptocurrencies, self-sovereign identities, decentralised certificate registries, and…
Despite technological advances, most smart objects in the Internet of Things (IoT) cannot be accessed using technologies designed and developed for interacting with powerful Internet servers. IoT use cases involve devices that not only have…
New technologies, such as blockchain, are designed to address various system weaknesses, particularly those related to security. Blockchain can enhance numerous aspects of traditional banking systems by transforming them into digital,…
The Blockchain and the programs running on it, called Smart Contracts, are more and more applied in all fields requiring trust and strong certifications. In this work we compare public and permissioned blockchains for industrial…
By comparing cryptocurrencies with other existing payment methods, including banknotes and bank cards, it is clear that the use of Bitcoin and its competitors (Ethereum, \dots) is almost insignificant in world trade. We may also note that…
As a disruptive technology, blockchain, particularly its original form of bitcoin as a type of digital currency, has attracted great attentions. The innovative distributed decision making and security mechanism lay the technical foundation…
In this chapter we provide an overview of the concept of blockchain technology and its potential to disrupt the world of banking through facilitating global money remittance, smart contracts, automated banking ledgers and digital assets. In…