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An IoT electric business model based on the protocol of bitcoin
Abstract
Nowadays, the development of traditional business models become more and more mature that people use them to guide various kinds of E-business activities. Internet of things(IoT), being an innovative revolution over the Internet, becomes a new platform for E-business. However, old business models could hardly fit for the E-business on the IoT. In this article, we 1) propose an IoT E-business model, which is specially designed for the IoT E-business; 2) redesign many elements in traditional E-business models; 3) realize the transaction of smart property and paid data on the IoT with the help of P2P trade based on the Blockchain and smart contract. We also experiment our design and make a comprehensive discuss.
... Security: Its decentralized nature ensures data integrity and protection against malicious tampering [4,9]. While the current framework focuses on identifying behaviors indicative of arbitrage, it does not claim to classify these behaviors as fraudulent definitively. ...
... By mapping transaction pathways, these tools can identify activities that deviate from established guidelines, enabling timely intervention [4]. Studies demonstrate their effectiveness in preventing fraud and enhancing the security of blockchain-based systems [9,20,21]. ...
... This study proposes a visualization framework to address challenges related to the readability and interpretability of blockchain transaction records. The framework aims to improve transaction tracking and ensure compliance with trading guidelines, enhancing the security and transparency of carbon credit markets [9,10,22]. ...
Net-zero emission targets require transparent and efficient carbon credit trading systems. This paper introduces a blockchain-based data visualization framework to enhance decision-making in the production and logistics sectors by simplifying blockchain transaction records and identifying potential arbitrage activities. The framework integrates real-time decision support tools, enabling production system managers to monitor carbon offset activities, detect fraudulent behaviors, and streamline operations. This research provides actionable insights into supply chain emissions management and operational risk reduction by leveraging advanced visualization techniques. The proposed approach offers innovative solutions to address the complexities of blockchain-based carbon trading, emphasizing transparency and sustainability. Our analysis demonstrates the effectiveness of these techniques in mitigating fraud and supporting compliance with international carbon trading standards. The findings contribute to integrating advanced technologies into sustainable production systems, offering practical implications for achieving global climate change mitigation goals and fostering a more efficient and secure carbon credit market.
... Aside cryptocurrencies and smart contracts, blockchain applications being used in a range of IoT devices [41], such as sensing [42,43], transportation systems [44] , identity management [45], timestamping services [46], smart tv [47], smart wearables [48], supply chain management [21], crowd sensors [49], cyber law judiciary [50], security and mission scenarios [51], IoT agricultural applications [52] , data storage [53], managing IoT devices [54], internet of energy applications [9,55,56], healthcare [22,57,58], smart cities [59] , smart living applications [60], industrial processes [61] and so on. Examples of blockchain technology are transparent transactions, decentralized peer-to-peer networking, consensus processes, public key encryption algorithms, decentralised storage and smart contracts. ...
... Conference 2015 [43] Proposed a P2P transaction mode on the IoT based on the Blockchain. ...
... Aside cryptocurrencies and smart contracts, blockchain applications being used in a range of IoT devices [41], such as sensing [42,43], transportation systems [44] , identity management [45], timestamping services [46], smart tv [47], smart wearables [48], supply chain management [21], crowd sensors [49], cyber law judiciary [50], security and mission scenarios [51], IoT agricultural applications [52] , data storage [53], managing IoT devices [54], internet of energy applications [9,55,56], healthcare [22,57,58], smart cities [59] , smart living applications [60], industrial processes [61] and so on. Examples of blockchain technology are transparent transactions, decentralized peer-to-peer networking, consensus processes, public key encryption algorithms, decentralised storage and smart contracts. ...
... Conference 2015 [43] Proposed a P2P transaction mode on the IoT based on the Blockchain. ...
Internet-of-Things and blockchain technology are surging technologies that enhance the digital world by reusability of current network architecture. Internet-of-Things has cooperated with the objects and things surrounding us daily, maintaining intelligent and internet-connected communication between them that captures a massive amount of physical data that integrates the digital and physical worlds. Due to concerns about the privacy and security of the Internet-of-Things, IoT devices lead to require the decentralised data storage. Hence, blockchain comes into play that provides a secure and trustworthy platform for IoT devices providing security, transparency, privacy, authentication, etc. This work investigates the mobility of blockchain with context of digital evidence preservation. Blockchain technology comes up as another level in research and technology to work with the emergence in various fields and internet-of-things forensics yet to be discovered. The motivation of this study is to particularly review research and studies in the field of blockchain-based evidence preservation in IoT forensics. A systematic research technique used to complete the review followed regulations in conducting standardized yet exploratory analyses.
... Due to the previously mentioned benefits, blockchain has been used by many industries, like in the automotive industry [38], in logistics [39], in the agri-food industry [40], in transportation [41], by energy companies [42] or in Industry 4.0/5.0 smart factories [43,44]. ...
In the last years, especially since the COVID-19 pandemic, precision medicine platforms emerged as useful tools for supporting new tests like the ones that detect the presence of antibodies and antigens with better sensitivity and specificity than traditional methods. In addition, the pandemic has also influenced the way people interact (decentralization), behave (digital world) and purchase health services (online). Moreover, there is a growing concern in the way health data are managed, especially in terms of privacy. To tackle such issues, this article presents a sustainable direct-to-consumer health-service open-source platform called HELENE that is supported by blockchain and by a novel decentralized oracle that protects patient data privacy. Specifically, HELENE enables health test providers to compete through auctions, allowing patients to bid for their services and to keep the control over their health test results. Moreover, data exchanges among the involved stakeholders can be performed in a trustworthy, transparent and standardized way to ease software integration and to avoid incompatibilities. After providing a thorough description of the platform, the proposed health platform is assessed in terms of smart contract performance. In addition, the response time of the developed oracle is evaluated and NIST SP 800-22 tests are executed to demonstrate the adequacy of the devised random number generator. Thus, this article shows the capabilities and novel propositions of HELENE for delivering health services providing an open-source platform for future researchers, who can enhance it and adapt it to their needs.
... (Tahar, Hammi and Bellot, 2020), (E-textiles, 2018), (Sharma et al., 2017)), health service ( (Azaria et al., 2016), (Yue et al., 2016), (Esposito et al., 2018), (Kuo, Kim and Ohno-machado, 2017), (Q. I. , (Q. ), cyber security ( (Wang and Han, 2018), (Hassan, Rehmani and Chen, 2019)), Ecommerce ( (Zhang and Wen, 2015)), energy trading ( (Munsing, Mather and Moura, 2017), (Mengelkamp et al., 2018), .(Aitzhan andSvetinovic, 2018), (Guan et al., 2018), (Andoni et al., 2019, (Kang et al., 2017), (Sikorski, Haughton and Kraft, 2017)), smart transportation ( (Yuan and Wang, 2016), (Li et al., 2018), (Dorri et al., 2017), (Lei et al., 2017)), smart city (. ...
... These operational advantages instil confidence in the system's ability to meet diverse needs and challenges, offering potential cost savings and efficiency improvements. By [92], the application of BC can build digital solutions that enhance the real-time exchange of operational data across networks, offering a competitive advantage. Security, as highlighted by [93], is another significant benefit of BC technology, as it provides a shared, immutable ledger with hardcoded rules, reducing or eliminating the need for internal audits and third-party involvement. ...
The surge in adopting Internet of Things (IoT) devices has presented fresh challenges regarding security and networks. Conventional centralized methods encounter scalability issues and security vulnerabilities with the rapid growth of connected devices. This comprehensive review offers researchers, practitioners, and policymakers valuable insights into the current state, challenges, and future directions of blockchain-driven security for IoT networks. The paper reviews research papers from 2016 to 2023 from the leading databases. Despite the potential advantages, integrating blockchain into IoT security presents its own set of challenges. This paper also discusses a survey of surveys and explains the challenges of offering security solutions for IoT networks. The paper introduces a secure system for sharing healthcare data, incorporating AI, smart contracts, and the InterPlanetary File System (IPFS). The initial proposed system establishes a secure and transparent system for device authentication, data integrity, and access control using BC’s decentralized and unchangeable characteristics. Smart contracts are employed to automate device network processes, ensuring tamper-proof execution and reducing the risk of unauthorized access. By conducting a case study and experimental assessment, we illustrate how security solutions driven by BC prove effective in mitigating the weaknesses linked to conventional IoT networks. The findings indicate that the proposed framework enhances security and provides a scalable and decentralized foundation for managing the ever-expanding ecosystem of IoT devices. The paper provides valuable guidance and outlines potential directions for future research in blockchain-driven security for IoT networks, offering a clear roadmap for researchers.
... Second we plan to work on exploiting the capabilities of available Java SunSpot kits by implementing the full features (e.g., VS stop, delete and migration to another remote SunSpot on the fly) they offer. Third we plan to provide the VS reservation mechanism by implementing a VS Scheduler entity, which would be very useful for a business model wherein a vWSN IaaS could be leased to users against certain incentives [28]. ...
With the recent advances in sensor hardware and software, architectures for virtualized Wireless Sensor Networks (vWSNs) are now emerging. Through node- and network-level virtualization, vWSNs can be offered as Infrastructure-as-a-Service (IaaS) which can aid in realizing the true potential of Internet-of-Things (IoT). Cloud computing offers elastic provisioning of large-scale infrastructures to multiple concurrent users where Platform-as-a-Service (PaaS) interacts with IaaS in order to efficiently host and execute applications over these infrastructures. Amalgamating IoT with cloud computing potentially allows rapid application and service provisioning in an efficient, scalable and robust manner. However, interactions between vWSNs and PaaS are largely an unexplored area. Indeed, existing vWSN IaaS are not yet ready for PaaS. This paper proposes a vWSN IaaS architecture which is ready for interactions with PaaS. The proposed architecture is based on our previous works and is rooted in the fundamental differences between traditional IaaS and vWSN IaaS. We built a prototype using Java Sunspot as the WSN tool kit and made early performance measurements.
... Blockchain is used in financial services, such as digital assets, remittances, and online payments, through direct payments between senders and recipients without banks or any other kind of intermediary (Nakamoto, 2008;Foroglou & Tsilidou, 2015;Peters et al., 2015;Gupta et al., 2021). Besides financial applications, blockchain technology covers such areas as smart contracts Kosba et al., 2016), public services (Kosba et al., 2016), public services (Akins et al., 2015), the Internet of Things, reputation systems (Zhang & Wen, 2015), and security services (Sharples & Domingue, 2016). These are applications where distributed trust and the immutability properties of blockchain technology are harnessed. ...
The current study uses a bibliometric analysis to comprehensively assess trends in Indian blockchain research over the last ten years, from 2014 to 2023. The data will be sourced from the Web of Science Clarivate database, considering publications of blockchain research with Indian scholars as authors between the set periods. Other parameters that the study will consider include year-wise publication trends, growth patterns, word frequency analysis, institutional rankings, and types of documents. The data sets have been visualised through software tools such as “CiteSpace and VOSviewer” to draw publication output maps and research cluster tracking of the top 20 active countries in blockchain studies. A similar analysis has been undertaken to track the research productivity and citation impact of the top 20 institutions actively contributing in this area. It is also noteworthy that CiteSpace has played a very important role in generating the visualisation data that significantly contributed to obtaining an overview of the research landscape.
... It was used for the first time in 2014 in energy market management [11]. In 2015, thanks to the version of BLOCKCHAIN 3.0 that integrates decentralized applications, researchers explored the use of BLOCKCHAIN for the decentralization of the management of an IoT E-business model [12]. Some work on the decentralized management of smart grids by blockchain is summarized in Table 1. ...
Smart grids are developing rapidly, offering significant benefits but also major challenges. Among the main issues are trust between network players, transparency of energy transactions and data confidentiality. To address this, it is crucial to create energy transaction systems that ensure transparency, trust, and minimization of energy losses, while preserving the confidentiality of the information exchanged. An in-depth study led to the design of an innovative architecture in 7 layers, including a specific layer for energy transfer in order to accurately monitor consumption in smart grids. The division of smart grids into geographical areas aims to optimize energy transmission and reduce losses. In this article, a smart contract-based mechanism was developed, deployed on an Ethereum testnet to manage financial and energy transactions, to ensure transparency and build trust. A decentralized application (Dapp) has also been created to facilitate the management of these transactions. This architecture has been validated by comparative simulations between our market model and the one based on the double auction mechanism. The results show that our system, using energy consumption tokens on the Ethereum Virtual Machine (EVM) of the Sepolia testnet, reduces transaction losses, stabilizes prices, and maintains a high level of satisfaction through transparent and reliable transaction management and consumption tracking.
... As previously mentioned, blockchain technology was first used to manage various cryptocurrencies. However, these days, it can also be used in other fields, like smart contracts (Kosba et al., 2016), online payments and other financial services (Foroglou & Tsilidou, 2015), the Internet of Things (IOT) (Zhang & Wen, 2015), security, and digital identity, among others. Some essential aspects of blockchain technology are derived from its structure, and these qualities can potentially transform a number of industries, including the built environment (Li et al., 2019). ...
This Critical Discourse Analysis (CDA) study examines Malaysia"s National Blockchain Roadmap 2021-2025, assessing its focus, goals, future development plans, and challenges based on text and context analysis. The study reveals that the roadmap presents a comprehensive strategy aimed at leveraging blockchain technology to drive economic growth, foster innovation, and enhance Malaysia"s competitiveness in the digital age. It emphasizes government adoption, regulatory clarity, industry collaboration, talent development, infrastructure investment, and use case exploration to lay the foundation for Malaysia to emerge as a global leader in blockchain innovation. Through strategic initiatives and partnerships, Malaysia aims to streamline administrative processes, enhance transparency, and optimize resource allocation within public agencies, showcasing its commitment to digital transformation and socioeconomic development. Additionally, the roadmap prioritizes the development of a robust regulatory framework to govern blockchain usage, fostering innovation while ensuring compliance. Industry engagement is underscored with initiatives aimed at catalyzing the development of industry-specific blockchain solutions tailored to address key challenges and opportunities. The roadmap anticipates further development and expansion driven by technological advances, evolving regulatory frameworks, and industry collaboration. Based on the context analysis, the roadmap faces several challenges, including regulatory uncertainty, interoperability issues, resource constraints, lack of trust, intellectual property concerns, and competing priorities. To overcome these challenges, Malaysia needs to advance in technology, regulatory frameworks, industry collaboration, education, talent development, infrastructure investment, and use further case exploration.
... In 2015, an IoT electric business model based on the protocol of Bitcoin [23] was showcased which leverages blockchain technology and smart devices to revolutionize the energy sector. It enables seamless peer-to-peer energy trading, ensuring efficient utilization of renewable energy sources. ...
The Blockchain-IoT integration is treated as the future technological value by many adopters despite the cost or complexity involved. But, there are technological advancements brought in by communities that make solutions affordable and simple to the fact that they can be used in applications such as parking space counters. This research portrays use of XNO which is a digital currency in an alternative way to keep track of available parking spaces via IoT nodes installed at entry and exit points of parking lots. The available parking spaces data using this approach can be displayed on LED boards at the entry point of the parking lots and on a website for remote status view. An add-on for this research is the issue of entry tickets with timestamp and unique ID by using the block data during asset transfer. This research can be further enhanced for collection of parking fees by the help of IoT nodes at the exit points of the parking lots.
... The potential of smart contracts using blockchain technology in improving transparency, security, and traceability in supply chain operations was also explored. In [21], a peer-to-peer transaction model was proposed based on blockchain for IoT operations, along with a technique for recording smart property and payment data transactions using smart contracts and smart coding. The authors in [9] investigated how blockchain technology can improve the IoT and suggest incorporating it into government infrastructures through regulations. ...
The concept of a smart city is aimed at enhancing the quality of life for urban residents, and logistic services are a crucial component of this effort. Despite this, the logistics industry has encountered issues due to the exponential growth of logistics volumes, as well as the complexity of processes and lack of transparency. Consequently, it is necessary to develop an efficient management system that offers traceability and condition monitoring capabilities to ensure the safe and high-quality delivery of goods. Moreover, it is crucial to guarantee the accuracy and dependability of distribution data. In this context, this paper proposes a blockchain-enabled IoT logistics system for the efficient tracking and management of high-price shipments. A smart contract based on blockchain technology has been designed for automatic approval and payment, with the aim of distributing shipping information exclusively among legitimate logistics parties. To ensure authentication, a zero-knowledge proof is used to conceal the blockchain address. Moreover, an intelligent parcel (iParcel) containing piezoresistive sensors is developed to pack delivered goods during the shipping process for violation detection such as severe falls or theft. The iParcels are automatically tracked and traced, and if a violation occurs, the contract is cancelled, and payment is refunded. The transaction fee per party is reasonable, particularly for high-price products that guarantee successful shipment.
... It is beyond the scope of this study to provide a comprehensive explanation of how smart contracts function; however, any reader interested in learning more may find a pretty excellent description in [53]. Beyond cryptocurrencies and smart contracts, blockchain technologies have the potential to be implemented in a variety of domains (the most relevant of which are depicted in Figure 4) that involve Internet of Things applications [54], such as sensing [55], [56], data storage [57], [58], identity management [59], time stamping services [60], smart living applications [61], intelligent transportation systems [62], wearables [63], supply chain management [64], mobile crowd sensing [65], cyber law [66], and In addition, blockchain technology has applications in the field of Internet of Things agriculture. For instance, a traceability system for tracing the supply of agricultural and food products in China is provided in [68]. ...
Internet of Things (IoT) has been the most emerging technology in the last two decade because the number of smart
intelligent sensors and its associated technologies has rapidly grown in both industrial and research prospectives. Recent trends have
suggested convergence to WSNs becoming IPv6based. To this effect, the ROLL working group of the IETF is currently specifying an
IPv6based unicast routing protocol for WSNs, denoted IPv6 Routing Protocol for Low power and Lossy Networks (RPL) of low power
consumption, and other constraints of nodes in the network. In this study, we performed a Systematic Literature Review, evaluate, and
identify the security issues that exist in the RPL network. Second, identity the use of blockchain technology in protecting the nodes in
RPL network. Thirdly, as per blockchain technology, we provide some security solutions and provide robot blockchain taxonomy. The
detailed analysis, including enabling technology and integration of IoT technologies, is explained. We review relevant works that have
proposed Blockchain based solution to strength the security of RPL network. We further contribute to present, analyze, and compare
best authentication solutions. Also, we present the solutions that integrate Blockchain. Finally, several research directions and open
challenges are identified.
... • E-Business: A novel IoT E-business model is put out by, who also implements the smart property transaction using a blockchain and smart contracts (Zhang and Wen, 2015). Distributed autonomous companies (DACs) are used as a decentralized transaction entity in this concept. ...
This chapter explores the barriers and potential of blockchain technology in the FinTech sector. It begins by highlighting the fundamental characteristics of blockchains, emphasizing their ability to securely store and transfer data without the involvement of intermediaries. The transparency provided by blockchain's transaction visibility is contrasted with traditional banking systems. The decentralized nature of blockchain is discussed, along with its applicability in various industries such as cryptocurrencies, financial services, risk management, IoT, and public and social services. The chapter acknowledges the extensive research conducted to analyze blockchain technology and its applications, leading to a need for a comprehensive examination. It addresses blockchain taxonomy, consensus techniques, applications, technological challenges, and recent developments, offering insights into the future possibilities of this technology. By identifying both the barriers and potential, this chapter aims to contribute to the understanding of blockchain technology's role in the FinTech industry.
... Zyskind et al. (2015) suggested the implementation of protocols that transform blockchain into a control manager by passing the requirement of reliability on a third party. Zhang and Wen (2015) (Begam et al. 2020) proposed to observe the paid data on IoT with the help of P2P trade and transaction of small property in an IoT based E-business model and redesign E-business models with the use of blockchain principles and smart contracts. Barkatullah and Hanke (2015) (Thanh et al. 2020) analyzed that Coin Terra's first-generation Bitcoin mining processor's implementation and architecture were used as a precursor in designing a much more complete mining machine called Terraminer IV. ...
Blockchain is highly known and well renowned in both the industry and academia world. Blockchain technology guarantees benefits in transparency, identification, trustability, credibility, organization, and collaboration as it works on the principles of transparency, decentralization, accountability, and immutability. The adoption of Blockchain technology in Industrial Internet of Things (IIoT) and other various sectors in Industry 4.0 presents the next step towards the future enhancement of blockchain. In this paper, we analyze and focus on various related research and applications of blockchain technology in various sectors of Industry 4.0, especially banking and finance. Despite offering a wide range of benefits and having numerous applications, the pace of integration of blockchain technology with the industry has been relatively sluggish. To overcome these issues, the paper highlights various shortcomings, research potentials, and challenges in the literature. The paper aims to illustrate the scope and importance of Blockchain technology in various sectors of Industry 4.0 as well as the risks associated with its use in parallel. Further, it intends to work as an initial point for future research to promote the application of Blockchain Technology.KeywordsInternet of Things (IoT)Industrial Internet of Things (IIoT)BitcoinBlockchainCryptocurrencyEthereum
... The sensor will reply by sending a transaction containing data to the client. This strategy is an extension of the solution provided in [31]. ...
Blockchain is a cutting-edge technology that has changed the way people communicate and trade. It’s a chain of blocks in a distributed and decentralized peer-to-peer (P2P) network that stores information with digital signatures. This method was first used to develop digital currencies such as bitcoin and Ethereum. However, some recent research and industrial studies have focused on the prospects that blockchain presents in a variety of other application fields in order to take advantage of the technology’s fundamental qualities, such as decentralization, persistency, anonymity, and audibility. In this study, We give a thorough evaluation of blockchain’s use in Wireless Networks, the Internet of Things (IoT), and Smart Grids (SGs). We also present the main obstacles of Blockchain in order to allow researchers to solve them and improve the technology’s use.KeywordsBlockchainWireless Networks (WNs)Internet of Things (IoT)Smart Grids (SGs)
... Blockchain can increase the trust as the data of IoT applications owned by multiple organizations and transported through infrastructure are recorded in decentralized ledger instead of a central database [49]. 4. Improved Speed and Reduced Cost Blockchain has the ability of processing transactions and coordination between billion of connected devices, which help in saving cost and time for IoT industry [16]. 5. Autonomic Interaction Integrating blockchain technologies (e.g., smart contracts) in IoT architecture allows the IoT devices and systems to interact automatically without a third party to control the process, which save costs [63]. 6. Enhanced Interoperability Transforming and storing the heterogeneous types of IoT data into blockchain can enrich the interoperability of IoT systems. ...
Blockchain is one of the promising technologies nowadays due to its unique characteristics like security, privacy, data integrity, decentralization, immutability, and traceability. Originally used to implement cryptocurrencies, recently numerous applications have employed blockchain in their architectures including applications targeted for the internet of things (IoT) environments. It is expected that by 2025 more than 21 billion IoT devices will be used especially with use of cloud, fog and edge computing architectures. Integrating blockchain in the IoT architecture provides many advantages such as enhancing security and privacy, better speed and costs, traceability and reliability, and elimination of single point of failure. On the other hand, many issues and challenges have arisen and should be addressed. Typically, IoT system consists of lightweight devices with limited hardware resources and constraints. Hence, the energy efficiency is a fundamental challenge in such devices. The main motivation of this paper is to survey designing a secure and energy efficient blockchain-based IoT implementation using a suitable hardware design. The paper classifies, presents and analyzes existing solutions to better implement IoT environment combined with blockchain technology. Our investigation demonstrations that most of lightweight solutions handle either the energy or security issue separately. Moreover, many works are theoretical-based analysis and solutions without considering the real blockchain-based IoT validation design. Energy evaluation for IoT hardware devices is not given the adequate research bandwidth. Additionally, limited works evaluated their techniques from hardware constrained device perspective. It is recommended that the performance of any proposed solution should be validated using real designs. The hardware perspective evaluation should be in mind for efficient blockchain-based IoT hardware implementation. The proposed lightweight solutions should focus more on efficient energy implementation while considering the lightweight security mechanisms.
... The IoT has affected different aspects of human life and led to the Fourth Industrial Revolution [4,5]. It has had different effects on various areas, such as industry [6][7][8][9], transportation [10][11][12], smart homes [13][14][15][16], smart cities [17][18][19][20], the military [21][22][23], business [24][25][26], tourism [27,28], education [29][30][31], art [32][33][34], healthcare [35,36], economics [37,38], and psychology [39][40][41]. ...
The Internet of things (IoT) continues to “smartify” human life while influencing areas such as industry, education, economy, business, medicine, and psychology. The introduction of the IoT in psychology has resulted in various intelligent systems that aim to help people—particularly those with special needs, such as the elderly, disabled, and children. This paper proposes a framework to investigate the role and impact of the IoT in psychology from two perspectives: (1) the goals of using the IoT in this area, and (2) the computational technologies used towards this purpose. To this end, existing studies are reviewed from these viewpoints. The results show that the goals of using the IoT can be identified as morale improvement, diagnosis, and monitoring. Moreover, the main technical contributions of the related papers are system design, data mining, or hardware invention and signal processing. Subsequently, unique features of state-of-the-art research in this area are discussed, including the type and diversity of sensors, crowdsourcing, context awareness, fog and cloud platforms, and inference. Our concluding remarks indicate that this area is in its infancy and, consequently, the next steps of this research are discussed.
... In addition to economics and finance, Bitcoin and blockchain technology continued to be the subject of other areas from internet of things (Zhang and Wen, 2015) to smart contracts (Kosba et al., 2016). (2019) found 703 articles written about Bitcoin and blockchain in his bibliometric analysis study to date. ...
Digitalization began to find a place in every industry faster than expected with COVID-19. Although terms such as Blockchain, NFT, Web 3.0, and Metaverse, which entered our lives with digitalization, are still very new, they will create a paradigm shift from standard business models. Blockchain technologies, especially NFTs, are creating a new opportunity for brands and creative industries as the frontrunner of digitalization with the innovative approach that is driven by scarcity, a new medium to connect with fans, and decentralized distribution power. This paper aims examine the effects of perceived value -with its predecessors scarcity, ownership & uniqueness- and trust in blockchain on the purchase intention of NFTs, considering the technology adoption. In this regard, data was collected via questionnaire from NFT owners with different nations in Discord channels using convenience sampling technique. SEM was performed as statistical analysis, and the results indicated technology adoption is a significant variable on trust in blockchain, which has a direct effect on purchase intention. On the hand, even though scarcity and ownership were positively associated with perceived value, this construct had no statistically significant effect on purchase intention.
Block Chain Cryptocurrencies are playing vital role in Financial as well in all other sectors .Recently in the year 2022 battle between Russo-Ukrainian is in fact enduring battle between two countries Russia and Ukraine. Subsequent to the Russian military build-up on the Russia–Ukraine border from late 2021, the battle extended ominously when Russia propelled a complete incursion of Ukraine on 24 February 2022.Monetary problem obviously showcases a foremost role in wars, the 2022 war between Russia and Ukraine is the prime major battle with a major but role of crypto-currencies. Because Russian military forces attacked Ukraine the United States along with its partners have imposed exceptional sanctions on Russia. These situations have led to lot of queries, regarding whether crypto-currencies can be employed by Russian performers to circumvent the authorizations. In a broader sense, the Russia-Ukraine crisis has made the policymakers to resolve how to normalize digital possessions. This chapter emphasizes on how best Ukraine is able to manage the financial crisis during Ukraine –Russia war using crypto-currencies and Non-fungible tokens in terms of Military and humanity.
Dijital teknolojinin yeni ve yıkıcı gücü, iş modellerini köklü bir biçimde dönüştürmekte ve küresel ölçekte giderek daha kritik bir unsur haline gelmektedir. Türkiye’deki birçok iş sektöründe büyük ilgi gören blockchain teknolojisi, uygulama alanları genişledikçe sektör yöneticileri tarafından çeşitli kullanım senaryolarına uyarlanmakta ve özelleştirilmektedir. Ayrıca günümüzde sosyal medya, bankacılık uygulamaları ve gelişmekte olan diğer teknolojiler, cihazların büyük miktarda veri üretmesine yol açmaktadır. Bu verilerin kontrolü, yönetimi, bakımı ve güvenli bir şekilde paylaşılması giderek daha önemli hale gelmektedir. Finans sektörünün öncülüğünde, veri depolama ve yönetimi konusunda her geçen gün yeni bir bakış açısı ya da teknoloji ortaya çıkmaktadır. Bu arayışların en güncel ve popüler örneklerinden biri Blockchain teknolojisidir. Kripto para birimi Bitcoin ile en popüler dönemini yaşayan Blockchain teknolojisinin yalnızca bir sanal para birimi teknolojisi olmadığı açıktır. Blockchain, merkeziyetsiz bir mimari üzerinden uygulama geliştirme konusunda yeni bir paradigma sunmaktadır. Bu çalışmanın amacı, Blockchain teknolojisinin mimari yapısını, işleyiş mekanizmalarını ve güvenlik boyutuna dair önemli hususları incelemek; bu teknolojinin temel özellikleri ve elde edilen faydaları kapsamlı biçimde ele almakta ve bu teknolojisinin uygulama alanları ve finans sektörüne etkisi değerlendirilmiştir. Blockchain teknolojisinin, finans sektöründe ve özellikle bankacılık, sigortacılık ve sermaye piyasaları alanında önemli etkileri bulunmaktadır. Bu teknolojinin sağladığı avantajlar ve dezavantajlar, finansal süreçlerin verimliliğini ve güvenliğini doğrudan etkilemektedir. Geleneksel bankacılık sistemleri, teknolojinin gelişmesiyle birlikte önemli bir dönüşüm geçirmiştir. Geçmişte günler süren para transferi, vergi ödeme ve fatura ödeme gibi işlemler, takas ve uzlaştırma ile finansal türevlerin teminatlandırılması gibi birçok alanda artık anında ve daha güvenli bir şekilde gerçekleştirilebilmektedir. Bu değişim, yalnızca işlemlerin hızlanmasıyla sınırlı kalmayıp, aynı zamanda işlem maliyetlerinin azalması ve şeffaflığın artması gibi ek avantajlar da sunmaktadır. Gelecekte bu teknolojinin, finansal hizmetlerin daha etkin ve güvenli bir şekilde sunulmasına olanak sağlayacağı öngörülmektedir.
Blockchain is a distributed ledger in which transactions are grouped in blocks linked by hash pointers. Blockchain-based solutions provide trust and privacy because of the resistance to the inconsistency of data and advanced cryptographic features. In various fields, blockchain technology has been implemented to ensure transparency, verifiability, interoperability, governance, and management of information systems. Processing large volumes of data being generated through emerging technologies is a big issue. Many researchers have used Blockchain in various fields integrated with IoT, i.e., industry 4.0, biomedical, health, genomics, etc. Blockchain has the attributes of decentralization, solidness, security, and immutability with a possibility to secure the system design for transmission and storage of data. The purpose of the consensus protocols is to keep up the security and effectiveness of the blockchain network. Utilizing the correct protocol enhances the performance of the blockchain applications. This article presents essential principles and attributes of consensus algorithms to show the applications, challenges, and opportunities of blockchain technology. Moreover, future research directions are also presented to choose an appropriate consensus algorithm to enhance the performance of Blockchain based applications
Blockchain is a technology that operates on a decentralized and distributed ledger system. It has garnered significant interest for its potential to revolutionize numerous industries, particularly banking. This study employs literature review and analysis methods to examine the utilization of blockchain technology in the realm of financial services. The primary objective is to identify and analyze significant domains within financial services where blockchain can be effectively implemented. These domains include trade financing and asset management, remittances, cross-border payments, securities issuance and trading, interbank clearing and settlement, credit and lending. Additionally, the study aims to explore how blockchain can enhance transparency and regulation in financial markets. The paper additionally examines the benefits and obstacles associated with the integration of blockchain technology into the banking industry. The findings of the study suggest that blockchain technology possesses the capacity to enhance operational effectiveness, diminish expenses, enhance transparency, and foster creativity within conventional financial procedures. Nevertheless, the proper execution of this endeavor is still hindered by various obstacles pertaining to technology, regulations, and privacy that necessitate resolution.
In recent years, Bitcoin has become one of the most popular cryptocurrencies. The most significant mechanism of Bitcoin is PoW (Proof-of-Work), but it also brings opportunities for mining attacks. In our last study [1], we proposed a Selfish Mining-based Denial-of-Service Attack (SDoS), which can cause serious threats to the Bitcoin system. On this basis, we further put forward three greedier SDoS attack strategies: a competitive greedy SDoS attack strategy ESDoS, a trail greedy SDoS attack strategy TSDoS, a hybrid greedy SDoS attack strategy ETSDoS, and a more public SDoS attack strategy PSDoS. Besides, we also study the adversary’s optimal strategies under different conditions. The experimental results show that if the adversary adopts the SDoS optimal strategy, his revenue increase rate will be further improved and significantly higher than the other existing mining attacks. If the adversary masters 14% of the total mining power, he has a chance to improve his revenue (25% in Selfish Mining, 19.6% in SDoS), and if the adversary masters 15% of the total mining power, he is capable of launching a 51% attack.
The continuous development of interconnected devices is reconstructing livelihood and with the emergence of advanced technology yields growth in the usage of IoT devices. Though it is revolutionary and brings convenience, it faces different security challenges. The transition from traditional to smart in varieties of sectors makes the use of IoT technologies to become an integral part of lives which obviously requires a protection shield that can be offered by Blockchain. Blockchain's protected decentralization overcomes different hazards the IoT structure is facing. In this chapter, the authors have represented a detailed study on IoT, its layer and applications, a comparative analysis of different security threats, how an association with blockchain would mitigate different shortcomings of present IoT architecture, and the issues that exist in Blockchain-associated IoT.
In September 2016, a new nancial technology company under Barclays completed the world's rst letter of credit trade nancing transaction using blockchain technology. This new transaction method can shorten the trade process to as little as 4 hours from 7 to 10 days originally. This transaction is regarded as a simpler, safer, and faster way of future international trade transactions. This research conducted questionnaire interviews with professionals in charge of international trade business in domestic banks. The expected values provided by these respondents with professional knowledge and experience were used as samples. After the data were aggregated, t-value verication was performed and the cost was calculated. The benets method analyzes the efciency and benets it can bring, and it is hoped that the empirical results of this research can provide useful references for banks or enterprises.
Pharmaceutical drugs can be considered as one of the most important needs of human societies. The spread of Coronavirus disease (COVID-19) has dramatically increased the volume of drug exchanges and the role of pharmaceutical supply chains in society for providing drugs has become recognized, but one of the most important concerns in this area is trust and confidence to the authenticity of drugs. Developing an accurate system for tracking productions in pharmaceutical supply chains is necessary. These advances can be used for improving the quality of pharmaceutical supply chains. Using IoT, it is possible to track the status of productions in supply chains. Also, blockchain technology can be used for recording and sharing data transparently. So, this integration of IoT and blockchain technology can reduce concerns about the authenticity of drugs and prevent their distribution. Given the important role of medicine for improving the health of society, this chapter explores the role of IoT devices and blockchain in the successful development of pharmaceutical supply chains.
The blockchain network architecture is a promising technology for constructing highly secure Internet of Things (IoT) networks. IoT networks typically consist of many sensors and actuators. Blockchain network technology can be applied to secure control robots in smart factories or for reliable drone delivery in smart cities. The distributed ledger and data block validation across blockchain networks guarantee the ultimate data security. However, the current blockchain technology is restricted in terms of its overall deployment across IoT networks. A general permissionless blockchain technology typically targets high-performance network nodes with sufficient computing power and memory space. A blockchain node with less computing power and memory, such as an IoT sensor or actuator, cannot employ blockchain technology as a fully functional node. A lightweight blockchain provides practical blockchain availability to IoT networks. We propose an operational advance to develop a lightweight blockchain for IoT networks. The opportunistic block validation optimizes the block validation process. It measures the network vulnerability based on the node reputation, block validation degree, number of fraudulent messages, and network stability. The reinforcement learning mechanism employed in the opportunistic block validation determines whether block validation is to be performed. Two separately developed reinforcement learning methods can increase the processing performance while maintain the transaction data integrity. In addition, the proposed blockchain technology is easily implementable because it adopts a Hyperledger development environment. Directly embedding the proposed blockchain middleware platform in small computing devices proves the practicability of the proposed block validation mechanism.
With the advent of smart homes, “shrewd urban communities, and savvy everything, the Internet of Things (IoT) has arisen as an area of amazing effect, potential, and development, with Cisco Inc. foreseeing to have 50 billion associated gadgets by 2020. Be that as it may, the majority of these IoT gadgets are not difficult to hack and think twice about. We audit and order famous security issues as to the IoT layered design, notwithstanding conventions utilized for systems administration, correspondence, and the executives. We frame security prerequisites for IoT alongside the current assaults, dangers, and cutting edge arrangements. Besides, we classify and plan IoT security issues against existing arrangements tracked down in the writing. All the more significantly, we examine how block chain, which is the fundamental innovation for bitcoin, can be a key empowering influence to tackle numerous IoT security issues. The paper additionally recognizes open exploration issues and difficulties for IoT security by processing numerous secure keys through a single special key; a secure hash function is needed in association with a key derivation function to enhance the encrypted mechanism and maximize cryptography efficiency. What's more, we give access control groupings. At last, we feature difficulties and future examination headings in creating generic architecture for security components for IoT frameworks.KeywordsIoT securityBlockchainBIoT protocolsNetwork securityData securityFour pillars of IoT
Over the last few years, IoT progressed exponentially in field of automation by providing M2M communication. With increase in popularity of IoT, number of devices connected to the internet has also increased. These devices share confidential information and are vulnerable to attacks. However, securing the IoT is challenging because of its resource-constrained and heterogeneous environment. This paper discusses about the challenges and implementation of blockchain technology in IoT which can withstand cybercrime and network flaws.KeywordsBlockchainInternet of ThingsSecurity
We consider a project (model) owner that would like to train a model by utilizing the local private data and compute power of interested data owners, i.e., trainers. Our goal is to design a data marketplace for such decentralized collaborative/federated learning applications that simultaneously provides i) proof-of-contribution based reward allocation so that the trainers are compensated based on their contributions to the trained model; ii) privacy-preserving decentralized model training by avoiding any data movement from data owners; iii) robustness against malicious parties (e.g., trainers aiming to poison the model); iv) verifiability in the sense that the integrity, i.e., correctness, of all computations in the data market protocol including contribution assessment and outlier detection are verifiable through zero-knowledge proofs; and v) efficient and universal design. We propose a blockchain-based marketplace design to achieve all five objectives mentioned above. In our design, we utilize a distributed storage infrastructure and an aggregator aside from the project owner and the trainers. The aggregator is a processing node that performs certain computations, including assessing trainer contributions, removing outliers, and updating hyper-parameters. We execute the proposed data market through a blockchain smart contract. The deployed smart contract ensures that the project owner cannot evade payment, and honest trainers are rewarded based on their contributions at the end of training. Finally, we implement the building blocks of the proposed data market and demonstrate their applicability in practical scenarios through extensive experiments.
Blockchain, which is the backbone of Bitcoin, has recently received a lot of attention. Blockchain functions as an immutable ledger that enables decentralized transactions. Numerous fields, such as the Internet of Things (IoT), reputation systems, and financial services, are being covered by blockchain-based applications. However, blockchain technology still faces numerous difficulties, such as scalability and security issues, that need to be resolved. A comprehensive overview of blockchain technology is provided in this paper. First, we compare some common consensus algorithms utilized by various blockchains and provide an overview of the architecture of blockchains. In addition, a brief list of recent advancements and technical difficulties is provided. In addition, we outline potential blockchain trends for the future.
Electric vehicles (EVs) have rapidly developed over the last decade due to their environmental benefits. As a key component of EVs, electric vehicle chargers are becoming increasingly digital and intelligent. However, due to the vast attack surface and the lack of systematic study, EV chargers and charging management cloud platforms are facing cyber security problems. These problems include weak cryptographic mechanisms, insecure data communication, and malicious firmware attacks. Through specific vulnerabilities, attackers can tamper with the data communication or replay network requests between EV chargers and cloud platforms. It will cause threats such as user-level privacy leakage, power fluctuations in the smart grid, and damage to Electric vehicles, damaging public life and property safety. Given the above, this paper proposes a security protection scheme incorporating blockchain, zero trust, and ShangMi cryptographic (SM) algorithms. The scheme uses Hyperledger Fabric for key management and trust evaluation event storage to guarantee the authenticity, non-repudiation, and tamper-proof of keys and events. In addition, zero trust is applied to secure valuable resources and enforce identity and access management (IAM) for accessing entities. We adopt the dynamic trust evaluation method to assess the trustworthiness of accessing entities in real time to implement dynamic authorization. Furthermore, the SM algorithms SM2, SM3, and SM4 are used to protect data confidentiality, integrity, and authenticity. Experimental results demonstrate that our scheme can effectively resist replay and tampering attacks, securing data communication between EV chargers and cloud platforms. And the performance of the cryptographic algorithm, blockchain system, and Secure Sockets Layer (SSL) meets Chinese national and industry standards.
Blockchain, the technology that supports Bitcoin, has recently received a lot of attention. Blockchain acts as an unchangeable record that allows decentralised transactions to take place. Blockchain-based applications are getting popular in a variety of industries, particularly financial services, reputation management, the internet of things (IoT), and many others. Furthermore, there are still a number of issues with blockchain technology to address, including scalability and security concerns. This chapter provides an in-depth look of blockchain technology.
Executive Summary
Our objectives
Analyze major paradigm changes in the media industry;
Investigate the building blocks and dynamics of media business models;
Predict the future management challenges in the media business.
Research questions
Why should firms engaging in the media industry consistently innovate
business models that are different from their current practices and ways
of operation?
How can firms renew their business model in the dynamic media industry
characterized by collaborative digital ecosystems?
What are the future management challenges for the media business
models?
Findings
Six fundamental paradigm changes in the media industry discussed in the
paper:
The value paradigm shifts the media offerings increasingly from products
to services.
The technology paradigm underscores the role of platforms instead of
traditional media processes in the delivery of the content.
The customer paradigm shifts the focus from proactive push strategies
to reactive market pull strategies.
The competence paradigm shifts the competitive focus from strategic
resource ownership to access on capabilities.
The revenue paradigm emphasizes the scope over scale in the profitability
of operation.
The operational paradigm underscores strategic flexibility and exploration
instead of efficiency based on exploitation of existing resources.
Future management challenges faced by the media executives include:
Media users are increasingly better informed vis-à-vis the content providers
on the relevance of the media content.
Successful offering-providing system must be defined according to the
client perspectives and not on client-independent criteria of “what the
content is.”
Socio-technical changes in the relationships among the stakeholders in
the media industry transform the rules of the game whereby sustained
profitability is obtained.
New assets need to be understood and managed due to the digitalization
of most media processes and increasing information intensity of the
media offerings.
Purpose
The purpose of the paper was to outline a generic framework for the business model and illuminate its linkages to managerial cognition.
Design/methodology/approach
The paper reviewed the focal literature focusing on the actions and evolution of a firm and built a synthesis that describes the different components of a business model.
Findings
The main finding was that a business model is essentially both a cognitive phenomenon as well as being built on the material aspects of a firm.
Research limitations/implications
The paper proposes that the business model can be scrutinized in future studies, especially from the viewpoints of cognition, thus creating new avenues for intra‐firm evolutionary studies.
Practical implications
The paper found several implications for practising managers. First, the concept itself creates possibilities for self‐analysis and scenario building. Second, the understanding that a business model is systemic helps managers to evaluate their actions vis‐à‐vis the evolutionary path of the business model. Third, the outlined business model is useful in executive education as it creates a cognitive map of the various aspects of business activities.
Originality/value
The paper offers new insights into the functions and evolution of firms and will be of interest to both researchers and practising managers.
and from participants at a faculty seminar at the Wharton School. We are particularly grateful to the Special Issue editors and two anonymous referees for their most helpful and constructive suggestions and comments.
Business Processes and Applications, Auto-ID Labs White Paper WP-BIZAPP-053
This paper puts the Internet of Things in a wider context: How it relates to the Future Internet overall, and where the business value lies so that it will become interesting for enterprises to invest in it. Real-World Awareness and Business Process Decomposition are the two major paradigms regarding future business value. The major application domains where the Internet of Things will play an important role and where there are concrete business opportunities are highlighted. But there are also many technical challenges that need to be addressed. These are listed and it is shown how they are tackled by existing research projects with industrial participation.
Purpose
This study seeks to identify the generic elements of a business model in the field of technology‐based services and uses those elements to build a networked business model. A networked business model reflects a situation when it is impossible for a single company to govern all the relevant resources and activities needed in developing, producing, and marketing technology‐based services.
Design/methodology/approach
The empirical part of the paper presents a qualitative futures study that employs the Delphi method and scenario planning.
Findings
The paper presents a framework describing the core elements of a networked business model, and shows how it can be applied in developing business model scenarios for technology‐based services.
Originality/value
By examining the business model from a network perspective, the study creates conceptual tools for both researchers and managers to describe, plan and develop future business models.
Visions of ambient intelligence and ubiquitous computing involve integrating tiny microelectronic processors and sensors into everyday objects in order to make them smart. Smart things can explore their environment, communicate with other smart things, and interact with humans, therefore helping users to cope with their tasks in new, intuitive ways. Although many concepts have already been tested out as prototypes in field trials, the repercussions of such extensive integration of computer technology into our everyday lives are difficult to predict. This contribution is a first attempt to classify the social, economic, and ethical implications of this development.
The emerging Internet of Things provides a networked infrastructure that enables incremental business transformation as well
as radical business changes. So far, the full potential of possible business opportunities has not been leveraged. Within
this chapter we propose the concept of business models and business model innovation as a means to align “technological development
and economic value creation” (Chesbrough and Rosenbloom, 2002) in the Internet of Things. A central point of this paper is
the value and revenue creation in the Internet of Things. We consider information to be the main source for value proposition.
To investigate resulting impacts, we draw on the “laws of information” proposed by Moore and Walsh (2002) and deduct specifics
for the Internet of Things. Building on this, we describe four exemplary business model scenarios. These are visualised using
the business model framework by Osterwalder and Pigneur (2009). This framework, the fundamental rules of value creation through
information in the Internet of Things and the provided examples may serve as a tool-set for practitioners to analyse and change
their business models when implementing the Internet of Things.
This paper tryes to give answers to the question "What is the Internet of Things?" and the way how the author got to these answers
Enterprise information systems store great amount of information, which describes details of the objects in Internet of things. Due to these complex systems lack of uniform interface, users could hardly get the valuable information. We propose the UAI-IOT framework, which provides a method of uniform interfaces to actively acquire information from heterogeneous enterprise systems. To be compatible with these systems, the framework obtains information from log files and transformed the log information into semantic events, which could be acquired by any user through the interfaces of information service. Besides, integrating UAI-IOT framework and RNS would make contribution to share information among organizations. We also introduce a use case and make a comprehensive discussion.
The recent discourse on IOT (Internet of Things) has emphasized technology and different technology layers. Currently, there is a pressing need for research into the emerging IOT ecosystems from the business perspective. This is due to their promise to create new business models, improve business processes, and reduce costs and risks. However, the existing literature lacks understanding and empirical research on what IOT business models are and how they are connected to the underlying ecosystem. We focus on this critical research gap by studying business models in the IOT ecosystem context. In the study, we construct a framework for analyzing different types of IOT business models. Furthermore, we use case examples from the automotive industry in explaining how these models are employed in connection with ecosystems. The study concludes by giving suggestions to business model developers and researchers.
This paper explores the role of the business model in capturing value from early stage technology. A successful business model creates a heuristic logic that connects technical potential with the realization of economic value. The business model unlocks latent value from a technology, but its logic constrains the subsequent search for new, alternative models for other technologies later on-an implicit cognitive dimension overlooked in most discourse on the topic. We explore the intellectual roots of the concept, offer a working definition and show how the Xerox Corporation arose by employing an effective business model to commercialize a technology rejected by other leading companies of the day. We then show the long shadow that this model cast upon Xerox's later management of selected spin-off companies from Xerox PARC. Xerox evaluated the technical potential of these spin-offs through its own business model, while those spin-offs that became successful did so through evolving business models that came to differ substantially from that of Xerox. The search and learning for an effective business model in failed ventures, by contrast, were quite limited.
After explaining why business executives and academics should consider thinking about a rigorous approach to e-business models, we introduce a new e-Business Model Ontology. Using the concept of business models can help companies understand, communicate and share, change, measure, simulate and learn more about the different aspects of e-business in their firm. The generic e-Business Model Ontology (a rigorous definition of the e-business issues and their interdependencies in a company's business model), which we outline in this paper is the foundation for the development of various useful tools for e-business management and IS Requirements Engineering. The e-Business Model Ontology is based on an extensive literature review and describes the logic of a "business system" for creating value in the Internet era. It is composed of four main pillars, which are product innovation, infrastructure management, customer relationship and financials. These elements are then further decomposed.
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
We explore the theoretical foundations of value creation in e-business by examining how 59 American and European e-businesses that have recently become publicly traded corporations create value. We observe that in e-business new value can be created by the ways in which transactions are enabled. Grounded in the rich data obtained from case study analyses and in the received theory in entrepreneurship and strategic management, we develop a model of the sources of value creation. The model suggests that the value creation potential of e-businesses hinges on four interdependent dimensions, namely: efficiency, complementarities, lock-in, and novelty. Our findings suggest that no single entrepreneurship or strategic management theory can fully explain the value creation potential of e-business. Rather, an integration of the received theoretical perspectives on value creation is needed. To enable such an integration, we offer the business model construct as a unit of analysis for future research on value creation in e-business. A business model depicts the design of transaction content, structure, and governance so as to create value through the exploitation of business opportunities. We propose that a firm's business model is an important locus of innovation and a crucial source of value creation for the firm and its suppliers, partners and customers.
It is a protocol, a network, a currency and a transaction language. Most of all, though, it is an application programming interface (API) for money
- Andreas Antonopoulos
Most of All, Though, It is An Application Programming Interface (API) for Money
- Andreas Antonopoulos