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The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from…

Blockchains are maintained by a network of participants that run algorithms designed to maintain collectively a distributed machine tolerant to Byzantine attacks. From the point of view of users, blockchains provide the illusion of…

Blockchains are being positioned as the "technology of trust" that can be used to mediate transactions between non-trusting parties without the need for a central authority. They support transaction types that are native to the blockchain…

Insurance claims processing involves multi-domain entities and multi-source data, along with a number of human-agent interactions. Use of Blockchain technology-based platform can significantly improve scalability and response time for…

We examine blockchain technologies, especially smart contracts, as a platform for decentralized applications. By providing a basis for consensus, blockchain promises to upend business models that presuppose a central authority. However,…

The limitation with smart contracts is that they cannot access external data which might be required to control the execution of business logic. Oracles can be used to provide external data to smart contracts. An oracle is an interface that…

Blockchain systems and smart contracts provide ways to securely implement multi-party transactions without the use of trusted intermediaries, which currently underpin many commercial transactions. However, they do so by transferring trust…

In today's programmable blockchains, smart contracts are limited to being deterministic and non-probabilistic. This lack of randomness is a consequential limitation, given that a wide variety of real-world financial contracts, such as…

In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…

The public blockchain was originally conceived to process monetary transactions in a peer-to-peer network while preventing double-spending. It has since been extended to numerous other applications including execution of programs that exist…

Formal verification entails testing software to ensure it operates as specified. Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They run on blockchain platforms and…

Blockchains facilitate secure resource transactions through smart contracts, yet these digital agreements are prone to vulnerabilities, particularly when interacting with external contracts, leading to substantial monetary losses.…

When blockchain systems are said to be trustless, what this really means is that all the trust is put into software. Thus, there are strong incentives to ensure blockchain software is correct -- vulnerabilities here cost millions and break…

Blockchain is a form of distributed ledger technology (DLT) where data is shared among users connected over the internet. Transactions are data state changes on the blockchain that are permanently recorded in a secure and transparent way…

Blockchain has been proposed to facilitate the enactment of interorganisational business processes. For such processes, blockchain can guarantee the enforcement of rules and the integrity of execution traces - without the need for a…

In recent years, many Blockchain based frameworks for transacting commodities on a congestible network have been proposed. In particular, as the number of controllable grid connected assets increases, there is a need for a decentralized,…

Permission-less blockchains can realise trustless trust, albeit at the cost of limiting the complexity of computation tasks. To explain the implications for scalability, we have implemented a trust model for smart contracts, described as…

Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…

This chapter contributes to evolving the versatility and complexity of blockchain-enabled services through extending the functionality of blockchain-enforced smart contracts. The contributions include: (i) a method for automated management…

Formalization of mathematics is the process of digitizing mathematical knowledge, which allows for formal proof verification as well as efficient semantic searches. Given the large and ever-increasing gap between the set of formalized and…