Selected Papers from the 3rd Annual Decentralized Conference (DECENTRALIZED 2019)

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

Deadline for manuscript submissions: closed (10 March 2020) | Viewed by 31434

Special Issue Editors


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Guest Editor
Institute for the Future (IFF), University of Nicosia, Nicosia 2417, Cyprus
Interests: artificial intelligence; intelligence augmentation; blockchain; forecasting; uncertainty; medical predictions
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Guest Editor
Head of the Frankfurt School Blockchain Center (FSBC), Frankfurt School of Finance & Management, 60322 Frankfurt am Main, Germany
Interests: blockchain/bitcoin; information systems; electronic commerce; mobile commerce; social networks

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Guest Editor
General Director of the Institute For the Future, University of Nicosia (UNIC), Nicosia 2417, Cyprus
Interests: distributed ledger technologies; data science; machine learning

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Guest Editor
Department of Digital Innovation, University of Nicosia, Nicosia 2417, Cyprus
Interests: blockchain; distributed ledger technologies; data management
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Special Issue Information

Dear Colleagues,

Blockchain has been proposed as a system for enabling untrusted entities to contribute to maintaining a common data structure and shared ledger of a digital history, without the need for intermediaries. The development and deployment of blockchain-based systems, as well as their applications, need to take into consideration new requirements and challenges, thereby raising novel open issues and research questions.

Selected papers presented at the 3rd Annual Decentralized Conference (Decentralized 2019; https://www.decentralized.com/academic-track/) are invited to submit their extended versions (at least 50% extension) to our Special Issue addressing the following themes:

  • Design and engineering improvements to the protocols and architectures underpinning distributed ledger technologies (including blockchains).
  • Gaining insight into the technical, business, legal, and societal implications of cryptocurrency and blockchain technologies, including real-life applications and case studies.
  • The convergence of the technology with other emerging technologies (e.g., AI, IoT, VR, etc.) that are becoming key elements of the fourth industrial revolution.

All submitted papers will undergo a standard peer-review procedure. Accepted papers will be published continuously in the journal (as soon as accepted), and will be listed together on the Special Issue website.

Prof. Dr. Spyros Makridakis
Prof. Dr. Philipp Sandner
Prof. Dr. George Giaglis
Dr. Klitos Christodoulou
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
  • Applications
  • Distributed ledgers
  • Smart contracts
  • Internet of things
  • Decentralized autonomous organizations (DAOs)
  • Data science

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Published Papers (4 papers)

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Research

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16 pages, 296 KiB  
Article
The Role of the CFO of an Industrial Company: An Analysis of the Impact of Blockchain Technology
by Philipp Sandner, Anna Lange and Philipp Schulden
Future Internet 2020, 12(8), 128; https://doi.org/10.3390/fi12080128 - 30 Jul 2020
Cited by 29 | Viewed by 6859
Abstract
This qualitative multiple case study explores the influence of blockchain technology on the chief financial officer (CFO) of an industrial company. Due to the advancing digitalization of business sectors and increasing competitive pressures, industrial companies are forced to promote their own digital transformation [...] Read more.
This qualitative multiple case study explores the influence of blockchain technology on the chief financial officer (CFO) of an industrial company. Due to the advancing digitalization of business sectors and increasing competitive pressures, industrial companies are forced to promote their own digital transformation to sustain on the market. Here, the literature regards the CFO as a key corporate function to induce digitization initiatives within organizations. The blockchain technology, due to its features of transparency, immutability and cryptography combined with its ability to coordinate data flows of e.g., the Internet of Things (IoT) or Artificial Intelligence (AI), constitutes a suitable instrument for the CFO to meet the requirements of Industry 4.0. This paper provides a contribution to address existing research gaps regarding the application side of blockchain technology. Thus, the objective of this work is to provide corporate financial functions, such as the CFO of an industrial company, with an understanding of the extent to which blockchain technology can be used for the role-specific responsibilities. Therefore, the underlying qualitative study explores the influence of blockchain technology on the CFO-function of an industrial company. Thus, intending to address a research gap on the application side, it asks (1) What is the impact of blockchain technology on the financial as well strategic role of the CFO? (2) What is the impact of blockchain technology in convergence with the Machine Economy on the key performance indicators (KPIs) of the CFO? (3) What is the impact of blockchain-enabled integrated business ecosystems on the role of the CFO? Based on a review of literature, semi-structured expert interviews were conducted with 23 participants. Analysis of the responses demonstrated a considerable impact of blockchain technology on the CFO-function. The results indicate improvements of business processes in regard to efficiency and automation, a relocation of the CFO’s strategic role, improvements of CFO-relevant KPIs through integrating machines into payment networks as well as the emergence of integrated business ecosystems facilitating new forms of inter-organizational collaboration. Necessary prerequisites for adoption include digital competences of the CFO, appropriate organizational structures, digital currencies and identities on the blockchain, a change of the competitive mindset as well as standardized platforms with a neutral governance. Full article
16 pages, 3532 KiB  
Article
A Time Bank System Design on the Basis of Hyperledger Fabric Blockchain
by Yu-Tse Lee, Jhan-Jia Lin, Jane Yung-Jen Hsu and Ja-Ling Wu
Future Internet 2020, 12(5), 84; https://doi.org/10.3390/fi12050084 - 8 May 2020
Cited by 8 | Viewed by 5525
Abstract
This paper presents a blockchain-based time bank system on the basis of the Hyperledger Fabric framework, which is one of the permissioned blockchain networks. Most of the services provided by existing Time Bank systems were recorded and conducted manually in the past; furthermore, [...] Read more.
This paper presents a blockchain-based time bank system on the basis of the Hyperledger Fabric framework, which is one of the permissioned blockchain networks. Most of the services provided by existing Time Bank systems were recorded and conducted manually in the past; furthermore, jobs for matching services with receivers were managed by people. Running a time bank in this way will cost lots of time and human resources and, worse, it lacks security. This work designs and realizes a time bank system enabling all the service-related processes being executed and recorded on a blockchain. The matching between services’ supply-and-demand tasks can directly be done through autonomous smart contracts. Building a time bank system on blockchain benefits the transaction of time credit which plays the role of digital currency on the system. In addition, the proposed time bank also retains a grading system, allowing its members to give each other a grade for reflecting their degrees of satisfaction about the results provided by the system. This grading system will incentivize the members to provide a better quality of service and adopt a nicer attitude for receiving a service, which may positively endorse the development of a worldwide time bank system. Full article
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19 pages, 828 KiB  
Article
Do Cryptocurrency Prices Camouflage Latent Economic Effects? A Bayesian Hidden Markov Approach
by Constandina Koki, Stefanos Leonardos and Georgios Piliouras
Future Internet 2020, 12(3), 59; https://doi.org/10.3390/fi12030059 - 21 Mar 2020
Cited by 4 | Viewed by 4786
Abstract
We study the Bitcoin and Ether price series under a financial perspective. Specifically, we use two econometric models to perform a two-layer analysis to study the correlation and prediction of Bitcoin and Ether price series with traditional assets. In the first part of [...] Read more.
We study the Bitcoin and Ether price series under a financial perspective. Specifically, we use two econometric models to perform a two-layer analysis to study the correlation and prediction of Bitcoin and Ether price series with traditional assets. In the first part of this study, we model the probability of positive returns via a Bayesian logistic model. Even though the fitting performance of the logistic model is poor, we find that traditional assets can explain some of the variability of the price returns. Along with the fact that standard models fail to capture the statistic and econometric attributes—such as extreme variability and heteroskedasticity—of cryptocurrencies, this motivates us to apply a novel Non-Homogeneous Hidden Markov model to these series. In particular, we model Bitcoin and Ether prices via the non-homogeneous Pólya-Gamma Hidden Markov (NHPG) model, since it has been shown that it outperforms its counterparts in conventional financial data. The transition probabilities of the underlying hidden process are modeled via a logistic link whereas the observed series follow a mixture of normal regressions conditionally on the hidden process. Our results show that the NHPG algorithm has good in-sample performance and captures the heteroskedasticity of both series. It identifies frequent changes between the two states of the underlying Markov process. In what constitutes the most important implication of our study, we show that there exist linear correlations between the covariates and the ETH and BTC series. However, only the ETH series are affected non-linearly by a subset of the accounted covariates. Finally, we conclude that the large number of significant predictors along with the weak degree of predictability performance of the algorithm back up earlier findings that cryptocurrencies are unlike any other financial assets and predicting the cryptocurrency price series is still a challenging task. These findings can be useful to investors, policy makers, traders for portfolio allocation, risk management and trading strategies. Full article
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Review

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15 pages, 716 KiB  
Review
A Systematic Review of Blockchain Literature in Logistics and Supply Chain Management: Identifying Research Questions and Future Directions
by Sebastian Kummer, David M. Herold, Mario Dobrovnik, Jasmin Mikl and Nicole Schäfer
Future Internet 2020, 12(3), 60; https://doi.org/10.3390/fi12030060 - 23 Mar 2020
Cited by 75 | Viewed by 13587
Abstract
Potential blockchain applications in logistics and transport (LSCM) have gained increasing attention within both academia and industry. However, as a field in its infancy, blockchain research often lacks theoretical foundations, and it is not clear which and to what extent organizational theories are [...] Read more.
Potential blockchain applications in logistics and transport (LSCM) have gained increasing attention within both academia and industry. However, as a field in its infancy, blockchain research often lacks theoretical foundations, and it is not clear which and to what extent organizational theories are used to investigate blockchain technology in the field of LSCM. In response, based upon a systematic literature review, this paper: (a) identifies the most relevant organizational theories used in blockchain literature in the context of LSCM; and (b) examines the content of the identified organizational theories to formulate relevant research questions for investigating blockchain technology in LSCM. Our results show that blockchain literature in LSCM is based around six organizational theories, namely: agency theory, information theory, institutional theory, network theory, the resource-based view and transaction cost analysis. We also present how these theories can be used to examine specific blockchain problems by identifying blockchain-specific research questions that are worthy of investigation. Full article
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