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Future Internet
Special Issues
The Next Blockchain Wave Current Challenges and Future Prospects
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The Next Blockchain Wave Current Challenges and Future Prospects

A special issue of Future Internet (ISSN 1999-5903). This special issue belongs to the section "Internet of Things".

Deadline for manuscript submissions: closed (20 September 2021) | Viewed by 37964

Special Issue Editors

Prof. Dr. Spyros Makridakis

grade E-Mail Website
Guest Editor
Institute for the Future (IFF), University of Nicosia, Nicosia 2417, Cyprus
Interests: artificial intelligence; intelligence augmentation; blockchain; forecasting; uncertainty; medical predictions
Special Issues, Collections and Topics in MDPI journals
Prof. Dr. Marinos Themistocleous

E-Mail Website
Guest Editor
Institute For the Future (IFF), University of Nicosia (UNIC), Nicosia, Cyprus
Interests: blockchain; DLT; smart contracts; blockchain applications; blockchain in energy; blockchain in healthcare; consensus mechanisms; CBDCs; DeFi; DAOs
Dr. Klitos Christodoulou

E-Mail Website
Guest Editor
Department of Digital Innovation, University of Nicosia, Nicosia 2417, Cyprus
Interests: blockchain; distributed ledger technologies; data management
Special Issues, Collections and Topics in MDPI journals
Dr. Elias Iosif

E-Mail Website
Guest Editor
Department of Digital Innovation, School of Business, University of Nicosia, Nicosia, Cyprus
Interests: blockchain; machine learning; natural language processing; spoken dialogue systems
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

During the next decade, blockchain will probably bring more disruptive changes than the internet has brought in its 25 years of history. The only question is how profoundly and how fast these changes will occur. The importance of blockchain can be confirmed by the interest in digital currencies, the number of published blockchain papers, as well as MDPI’s very journal Future Internet, which is exclusively devoted to publishing blockchain articles, including this Special Issue covering present and future blockchain challenges. Blockchain innovates in three simple but powerful directions. First, the way records are kept prevents tampering; second, it assures trust in transactions amongst strangers; and third, it offers transparency and much greater safety/security than the traditional internet. Blockchain has been correctly called “the next generation of the internet” and alternatively “the internet of value”, aiming to revolutionize the internet of today by exploiting its three breakthrough innovations. There are still problems to be solved and challenges to be overcome, but similar ones were faced in the early 1990s when the internet was in a comparable stage to that of blockchain today. It is the purpose of this Special Issue to consider the forthcoming challenges, identify possible problems, and propose practical solutions. 

This Special Issue aims to cover all aspects of blockchain technology and its future. Authors are encouraged to submit articles that include existing challenges together with suggestions of how they could be dealt with, as well as covering its revolutionary prospects and their implications for real-life applications upon which the Special Issue editors place special emphasis. The list of topics below is indicative but not exhaustive of the papers to be submitted for possible publication in this Special Issue.

List of Topics

  • Blockchain in 2020 versus the internet in the early 1990s
  • Challenges to be addressed for Blockchain mass adoption
  • Blockchain education, training, certification
  • Blockchain for the next decade: challenges and trends
  • Blockchain as a disruptive technology
  • Blockchain forensics and data analytics
  • Blockchain exploiting, but not bounded by bitcoin technology
  • Challenges to be addressed by the mass adoption of blockchain technology
  • Blockchain convergence with AI, IoT, big data
  • Blockchain scalability, security, decentralization, interoperability
  • Blockchain applications (e.g., banking, insurance, healthcare, energy)
  • Decentralized finance vs. traditional financial systems
  • CBDCs
  • Stablecoins
  • Next generation of automated market makers (AMMs)
  • Blockchain startups and how they are revolutionizing blockchain applications (founders of startups are specially encouraged to submit papers of their goals and how they expect to add value to blockchain applications)

Prof. Dr. Spyros Makridakis
Dr. Klitos Christodoulou
Prof. Dr. Marinos Themistocleous
Dr. Elias Iosif
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Future Internet is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Blockchain
  • bitcoins
  • cellular automata
  • smart contracts
  • DAO
  • convolutional neural networks
  • intelligence augmentation
  • IoT
  • decentralized governance
  • personalized medicine

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Published Papers (6 papers)

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Research

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13 pages, 1057 KiB  
Article
Exploring the Next Wave of Blockchain and Distributed Ledger Technology: The Overlooked Potential of Scenario Analysis
by Horst Treiblmaier
Future Internet 2021, 13(7), 183; https://doi.org/10.3390/fi13070183 - 19 Jul 2021
Cited by 6 | Viewed by 3619
Abstract
Blockchain is predicted to disrupt industries, economies, and societies. The properties of distributed ledgers allow the creation of immutable data structures that facilitate shared access in real time and enable a plethora of innovative applications. However, blockchain is not a uniform technology but [...] Read more.
Blockchain is predicted to disrupt industries, economies, and societies. The properties of distributed ledgers allow the creation of immutable data structures that facilitate shared access in real time and enable a plethora of innovative applications. However, blockchain is not a uniform technology but rather a bundle of evolving components whose implications are notoriously hard to predict. At present, it is not clear how current trends will evolve, with technical evolution, legislation, and public policy being three contingency factors that make ongoing disruptive transformations particularly hard to predict. In light of blockchain’s potential disruptive impact, it is surprising that scenario analysis has hitherto been largely ignored in academic research. Therefore, in this paper, we introduce the technique, clarify several misconceptions, and provide examples illustrating how this method can help to overcome the limitations of existing technology impact research. We conclude that if applied correctly, scenario analysis represents the ideal tool to rigorously explore uncertain future developments and to create a comprehensive foundation for future research. Full article
(This article belongs to the Special Issue The Next Blockchain Wave Current Challenges and Future Prospects)
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19 pages, 1002 KiB  
Article
From Bitcoin to Central Bank Digital Currencies: Making Sense of the Digital Money Revolution
by Paulo Rupino Cunha, Paulo Melo and Helder Sebastião
Future Internet 2021, 13(7), 165; https://doi.org/10.3390/fi13070165 - 27 Jun 2021
Cited by 59 | Viewed by 12711
Abstract
We analyze the path from cryptocurrencies to official Central Bank Digital Currencies (CBDCs), to shed some light on the ultimate dematerialization of money. To that end, we made an extensive search that resulted in a review of more than 100 academic and grey [...] Read more.
We analyze the path from cryptocurrencies to official Central Bank Digital Currencies (CBDCs), to shed some light on the ultimate dematerialization of money. To that end, we made an extensive search that resulted in a review of more than 100 academic and grey literature references, including official positions from central banks. We present and discuss the characteristics of the different CBDC variants being considered—namely, wholesale, retail, and, for the latter, the account-based, and token-based—as well as ongoing pilots, scenarios of interoperability, and open issues. Our contribution enables decision-makers and society at large to understand the potential advantages and risks of introducing CBDCs, and how these vary according to many technical and economic design choices. The practical implication is that a debate becomes possible about the trade-offs that the stakeholders are willing to accept. Full article
(This article belongs to the Special Issue The Next Blockchain Wave Current Challenges and Future Prospects)
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11 pages, 1171 KiB  
Article
Towards Practical Applications in Modeling Blockchain System
by Andrei Vladyko, Anastasia Spirkina and Vasiliy Elagin
Future Internet 2021, 13(5), 125; https://doi.org/10.3390/fi13050125 - 12 May 2021
Cited by 9 | Viewed by 2964
Abstract
Like multiservice networks, blockchain technology is currently experiencing significant development because of its decentralization and ability to organize secure, seamless, reliable data exchange and storage. Due to the significant demand for the technology, there is a need to analyze the impact of these [...] Read more.
Like multiservice networks, blockchain technology is currently experiencing significant development because of its decentralization and ability to organize secure, seamless, reliable data exchange and storage. Due to the significant demand for the technology, there is a need to analyze the impact of these technology processes on network characteristics to predict traffic behavior and ensure required quality indicators, as well as on the stability of public communication network elements when blockchain technology operates. Conducting a full-scale experiment is a time-consuming task that cannot always be accomplished, so in this paper, the authors propose considering approaches to modeling these systems and, as an example, propose to use a simulation system to assess the performance of the network and its elements. Full article
(This article belongs to the Special Issue The Next Blockchain Wave Current Challenges and Future Prospects)
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33 pages, 8009 KiB  
Article
Decentralizing Supply Chain Anti-Counterfeiting and Traceability Systems Using Blockchain Technology
by Neo C. K. Yiu
Future Internet 2021, 13(4), 84; https://doi.org/10.3390/fi13040084 - 25 Mar 2021
Cited by 26 | Viewed by 7394
Abstract
An interesting research problem in the supply chain industry is evaluating and determining the provenance of physical goods—demonstrating the authenticity of luxury goods such as bottled wine. However, many supply chain systems and networks have been built and implemented with centralized system architecture, [...] Read more.
An interesting research problem in the supply chain industry is evaluating and determining the provenance of physical goods—demonstrating the authenticity of luxury goods such as bottled wine. However, many supply chain systems and networks have been built and implemented with centralized system architecture, relying on centralized authorities or any form of intermediary, and leading to issues such as single-point processing, storage and failure, which could be susceptible to malicious modifications to product records or various potential attacks to system components by dishonest participant nodes traversing along the supply chain. Blockchain technology has evolved from merely being a decentralized, distributed and immutable ledger of cryptocurrency transactions to a programmable interactive environment for building decentralized and reliable applications addressing different use-cases and existing problems in the world. In this research, with a chosen research method of proof-by-demonstration, the Decentralized NFC-Enabled Anti-Counterfeiting System (dNAS) is proposed and developed, decentralizing a legacy anti-counterfeiting system of the supply-chain industry using Blockchain technology to facilitate trustworthy data provenance retrieval, verification and management, as well as strengthening the capability of the product’s anti-counterfeiting and traceability qualities in the wine industry, with the capacity to further extend this to the supply chain industry as a whole. The proposed dNAS utilizes a decentralized blockchain network with a consensus protocol compatible with the concept of enterprise blockchain, programmable smart contracts and a distributed file storage system to develop a secure and immutable scientific-data provenance tracking and management platform on which provenance records, providing compelling properties of the data integrity of luxurious goods, are recorded, verified and validated automatically. Full article
(This article belongs to the Special Issue The Next Blockchain Wave Current Challenges and Future Prospects)
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13 pages, 2520 KiB  
Article
An Accelerating Approach for Blockchain Information Transmission Based on NDN
by Zhi-Peng Yang, Lu Hua, Ning-Jie Gao, Ru Huo, Jiang Liu and Tao Huang
Future Internet 2021, 13(2), 47; https://doi.org/10.3390/fi13020047 - 14 Feb 2021
Cited by 5 | Viewed by 2925
Abstract
Blockchain is becoming more and more popular in various fields. Since the information transmission mode of the blockchain is data broadcasting, the traditional TCP/IP network cannot support the blockchain system well, but the Named-Data Networking (NDN) could be a good choice because of [...] Read more.
Blockchain is becoming more and more popular in various fields. Since the information transmission mode of the blockchain is data broadcasting, the traditional TCP/IP network cannot support the blockchain system well, but the Named-Data Networking (NDN) could be a good choice because of its multi-path forwarding and intra-network caching functions. In this article, we propose a new blockchain information transmission acceleration strategy (AITS) combining with graph theory and probability theory based on the NDN architecture. We select some more important nodes in the network as “secondary nodes”, and give them more bandwidth and cache space to assist the NDN network in data transmission. In order to select the correct node as the secondary node, we present a method to calculate the number of secondary nodes, and give the function to calculate the importance of each node. The simulation results show that in complex networks, the proposed method has superior performance in accelerating information transmission and reducing data overhead. Full article
(This article belongs to the Special Issue The Next Blockchain Wave Current Challenges and Future Prospects)
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Review

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32 pages, 4265 KiB  
Review
Blockchain Application in Internet of Vehicles: Challenges, Contributions and Current Limitations
by Evgenia Kapassa, Marinos Themistocleous, Klitos Christodoulou and Elias Iosif
Future Internet 2021, 13(12), 313; https://doi.org/10.3390/fi13120313 - 10 Dec 2021
Cited by 35 | Viewed by 6535
Abstract
Blockchain technology is highly coupled with cryptocurrencies; however, it provides several other potential use cases, related to energy and sustainability, Internet of Things (IoT), smart cities, smart mobility and more. Blockchain can offer security for Electric Vehicle (EV) transactions in the Internet of [...] Read more.
Blockchain technology is highly coupled with cryptocurrencies; however, it provides several other potential use cases, related to energy and sustainability, Internet of Things (IoT), smart cities, smart mobility and more. Blockchain can offer security for Electric Vehicle (EV) transactions in the Internet of Vehicles (IoV) concept, allowing electricity trading to be performed in a decentralized, transparent and secure way. Additionally, blockchain provides the necessary functionalities for IoV decentralized application development, such as data exchange, personal digital identity, sharing economy and optimized charging pattern. Moreover, blockchain technology has the potential to significantly increase energy efficiency, decrease management costs and guarantee the effective use of the energy recourses. Therefore, its application in the IoV concept provides secure, autonomous and automated energy trading between EVs. While several studies on blockchain technology in smart grids have been conducted, insufficient attention has been given to conducting a detailed review and state-of-the-art analysis of blockchain application in the IoV domain. To this end, this work provides a systematic literature review of blockchain-based applications in the IoV domain. The aim is to investigate the current challenges of IoV and to highlight how blockchain characteristics can contribute to this emerging paradigm. In addition, limitations and future research directions related to the integration of blockchain technology within the IoV are discussed. To this end, this study incorporates the theoretical foundations of several research articles published in scientific publications over the previous five years, as a method of simplifying our assessment and capturing the ever-expanding blockchain area. We present a comprehensive taxonomy of blockchain-enabled applications in the IoV domain, such as privacy and security, data protection and management, vehicle management, charging optimization and P2P energy trading, based on a structured, systematic review and content analysis of the discovered literature, and we identify key trends and emerging areas for research. The contribution of this article is two-fold: (a) we highlight the limitations presented in the relevant literature, particularly the barriers of blockchain technology and how they influence its integration into the IoV and (b) we present a number of research gaps and suggest future exploratory areas. Full article
(This article belongs to the Special Issue The Next Blockchain Wave Current Challenges and Future Prospects)
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