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Decentralized Blockchain Technology and the Rise of Lex Cryptographia

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... While for the blockchain in general, it can be too early to reasonably evaluate and reach conclusions about possible future governance, the scholars believe that we can at least begin the research by identifying possibilities for different ways to improve this emerging technology. As argued initially, the blockchain was the technology to support techno-anarchism (Gordon, 2009;Wright & de Filippi, 2015). However, despite this prevailing image, there are also possibilities that blockchain reinforces the establishment. ...
... Blockchain can be pictured as the technology for maintaining the political status quo and improving the current administrative bureaucratic apparatus of the state. As Wright and de Filippi (2015) describe it, it is a shift from Lex Mercantoria, the mercantile rule that underpins the judiciary system, to Lex Cryptographia, a regulation performed by code. It is a way to reduce transaction costs of cooperation and offer new opportunities for policymakers to supply public services more effectively (Cowen, 2019). ...
... The founder's dream of decentralization and freedom from the state and banks. They promise to build a world filled with unrelated people connected by their own motivations to use decentralized applications in encrypted communities and their agreements comply with common rules for joint activities (Werbach, 2018;Wright & de Filippi, 2015). In such a world, traditional centralized units will not be able to control the activities of different communities, in which members are connected instead by a shared understanding of individual freedom and agreed-upon governance rules. ...
... According to Wilfer, (2019) commercial entities using Blockchain would disclose the structural adjustments required in the legal system to address it and the legal difficulties that may arise due to Blockchain's microeconomic and macroeconomic association. The technology also enabled modern control procedures to include more self-governing or participatory pronouncement preparation (Wright & De Filippi, 2015). Blockchain technology has been generally recognised as a crucial breakthrough that has been integrated with governments and businesses in recent years (Frizzo-Barker et al., 2020). ...
... Blockchain technology is the first recognised technology to solve the "double spending problem" as well as the problem of the "Byzantine General" simultaneously (Wörner et al., 2016). Because of these characteristics, blockchain technologies are appealing technical solutions for simplifying transactions between parties with differing interests, such as lenders, borrowers, suppliers, and customers (Schuetz & Venkatesh, 2020). ...
Article
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Purpose: The purpose of this paper is to review blockchain technology and to demonstrate how this technology is related to the real estate market using multiple regression methodology. Design/ Method/ Approach: Our approach to this work is first, review the blockchain technology, which includes its history, second review the limited work of Blockchain in the real estate market, its benefits and drawbacks. Findings: Since this paper is a conceptual approach toward applying blockchain technology in the real estate market, estimation of model parameters, including beta cap and a formula for estimating regression coefficients for multiple linear regression, has been done. Research limitations: The application of blockchain technology in the real estate market is minimal. Therefore, our paper has research limitations because much work is needed in this area of study. Practical implications: This reviewed work of ours will have practical implications on the real estate market regarding blockchain technology since works related to applying this technology in the real estate market are limited.
... The same analysis points out that by 2030, 54% of workplace activities can be automated using only existing technology. 23 Lucky Belder said that it is necessary to address the entire life cycle of technology, from design to implementation and control in order to have an overview of how the digitalization process can be regulated in relation to the values of a democratic society. 24 There must be a direct proportional relationship between the level of technological development and the development of a legislative framework at state level. ...
... The Singapore Blockchain Ecosystem Report (2020) proposes the finance sector as the leading adopter of blockchain technologies in Singapore (Singapore Blockchain Ecosystem Report, 2020). The encrypted security of blockchain guarantees authenticity and finality of databases, and also prevents fraud(Wright & de Filippi, 2015 as cited in Zhou et al., 2020), which is particularly important for financial institutions, since fraud is a key challenge in trade finance (Singapore Blockchain Ecosystem Report, 2020).Since 2016 the "Project Ubin", has started to explore the use of blockchain and Distributed Ledger Technology (DLT) for the clearing and settlement of payments and securities(MAS, 2020). With the completion of final phase, "Project Ubin" has proven its commercial potential after running several tests. ...
Thesis
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In times of increasing digitalization and urbanization, local journalism is facing the challenge to stay relevant for society as a key contributor to democratic values. Qualitative and objective information is irreplaceable for any society since individuals need reliable information as a basis for decision-making. However, the impending loss of journalistic institutions draws very bleak perspectives about the future of democracy, and it is time to re-think journalism, to propose a realistic and fresh outlook for the future of news. Advanced technologies have an extensive impact on everyday life since they offer many touchpoints and fields of applications. The application of advanced technologies in urban areas, in particular, has great potential to transform the perception of news. And it is of special interest to find out how advanced technologies can further improve the relationship between people and news by providing unprecedented possibilities to create new news formats and styles. Historically, cities were the home of local journalism with newspapers as their main distribution medium. Due to the rapidly changing environment, local journalism needs a fundamental reorientation in the context of a smart city. This thesis investigates the implementation of smart city technologies in five cases, to elaborate the impact of smart city technologies on journalism. The ultimate aim of this thesis is to suggest a best practice for publishers to counter the current predicament of journalism and to derivate recommendations for action to safeguard and improve the essential role of local journalism.
... Bitcoins as a form of digital currency make payments based on cryptographic proof, as opposed to traditional payment systems which are based on trust. According to [12], [13], cryptographic proof is when two willing parties make transaction with each other, without the need of a trusted third-party. In this type of transaction, there is no need for a bank account, or credit card or to provide personal data or information when making a transaction using bitcoins. ...
... BCT has become potentially a very useful application in different fields and especially suitable for processing valuable information (Davidson et al., 2016). The BCT was created based on four innovative technologies: cryptographic algorithms, peer-to-peer networks, distributed data storage, and decentralized consensus mechanisms (Wright & De Filippi, 2015). ...
Article
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The main purpose of this paper is to study the critical success factors (CSFs) of the blockchain technology (BCT) adoption in green supply chain management (GSCM) which might be literally afirst attempt and also propose aconceptual framework of aGSCM model adopting the BCT, which will be promoting the combination of these two areas in the future. Acritical literature review of the BCT, GSCM, and BCT-based GSCM was conducted to identify the most relevant factors of BCT adoption, followed by the model formulation with the help of interpretive structural modelling (ISM) consisting of CSFs and relationships between those based on experts' views. The overall results emphasized that 'recording and trading'-related factors may contribute to the BCT adoption, while others like smart contract must be enhanced. This study supports previous conceptual work on BCT and GSCM and could serve as astarting point to assist in decision-making.
... Multiple smart contracts can be bundled to define how an organization should operate. These decentralized (autonomous) organizations can be considered open-sourced as their operations (and thus trust) relies on the security and auditability of its underlying smart-contract code, whose operations can be scrutinized by millions of eyes (Wright and De Filippi, 2015). ...
Article
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To understand how distributed ledger technology (DLT) enables people-centered IoT solutions we conducted a systematic literature review of tested implementations since 2017. We created a people-centered classification to analyze 39 implementations. We found that people-centered DLT-IoT architectures are in their infancy and detected no evidence of emerging patterns. We observed that Ethereum is the most used DLT. Fit-for-purpose technologies like IOTA and concepts like Self-Sovereign Identity (SSI) were underrepresented. We noted an increased interest in privacy-preserving and edge-computing mechanisms, and identified three areas for future research. We hope this survey will assist others learning more about people-centered IoT solutions.
... In a blockchain system, the token can be regarded as a valid ticket to record the choices by voters. As claimed by (Kshetri and Voas, 2018;Wright and De Filippi, 2015), voting under blockchain could encourage shareholders to engage actively in corporate governance and vote on a broader range of issues more frequently. Under a similar spirit, election fraud, especially the 2020 US president election rumor, can effectively be avoided under the blockchain-based voting system. ...
Preprint
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Blockchain has the potential to reform the architecture of cyberspace and transform the storage, circulation and exchange of information through decentralization, transparency and de-identification. Meaning that ordinary participants can become traders, miners, retailers, and customers simultaneously, breaking the barriers and reducing the information gap between participants in the community, contributing to the futuristic metaverse with an open progressive and equal ideology. Such information transformation empowered by blockchain also profoundly impacts our methodological cognition, legal governance on cyberspace and financial and technological development. This study explores the main question: what are the implications of the blockchain-driven information revolution for society and social sciences? In order to answer this main question, this paper chooses four perspectives, which are methodological, legal, financial and technical. By analysis of these four perspectives, this paper is expected to provide a more comprehensive analysis of the blockchain-driven impact on society, social sciences, and technology to contribute to current scholarships. Additionally, regarding blockchain as an innovative methodological cognition, it grows on top of other technologies while helping advance other technologies. This paper concludes that although there are few frictions between blockchain and current social architecture, blockchain is so much more than the technology itself, that can be a representative of the community, acting as the source of trust, watcher of governance, law enforcer for virtual activities, and an incubator for future technologies.
... The concept of bitcoin was introduced to the world in 2008 by Satoshi Nakamoto [24]. The blockchain is a decentralized, encrypted electronic distributed ledger or database that can maintain the records immutably without involving a trustworthy third party [40]. Each data record in a blockchain is timestamped, identity stamped, and has a hash code associated with it. ...
Chapter
Blockchain is not a standalone technology. It is a ledger that ensures the trustworthiness and traceability of data stored on it. Given the Industry 4.0 environment, it will work in integration with state-of-the-art technologies such as the internet of things (IoT), 3D printing (3DP), fog computing, geotagging, artificial intelligence (AI), and swarm robotic systems (SRS). These technologies’ combined function would create large amounts of data on blockchain, popularly known as big data. This chapter contributes by highlighting the role of contemporary Industry 4.0 technologies in creating big data. The chapter features the managerial and policy implications of big data from service operations management perspective.
... The definition applies to online platforms with more than 45 million average monthly active users in the EU.16 Wright and De Filippi (2015) call this code for deterministic regulatory environments 'lex cryptographia' . https://www.wageningenacademic.com/doi/pdf/10.3920/978-90-8686-930-5_1 ...
... While a few countries have introduced regulations to support the implementation and use of the cryptocurrency, some countries have outrightly banned it and others have restricted its use in banking. Wright and De Filippi (2015) recognize the development of a new body of law to administer self-executed smart contracts and decentralized organizational structure while controlling for illicit activities. Cryptocurrencies have also been seen as enabling the replacement of tax havens (Marian, 2013), usage for money laundering (Barone and Masciandaro, 2019) and been associated with anonymity that encourages their use in digital black markets. ...
Article
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The adoption of cryptocurrencies is uneven across businesses, industries, and countries. Different forces drive cryptocurrency adoption (CA) dependent on the national level of development. We empirically assess the relationship between certain macro-national developmental indicators and cryptocurrency deployment across 137 countries. Linear regressions determine specific associations with cryptocurrency adoption. We report that CA correlates positively and in decreasing order with Education, the Human Development Index, the Network Readiness Index, the Gini index, Democracy, Regulatory Quality, and Gross Domestic Product, and negatively and in decreasing order with Control of Corruption, the Corruption Perception Index, and the Economic Freedom Index. We draw on our findings to point to policy implications tied to the usage of cryptocurrencies and blockchain technologies more widely and identify further research possibilities.
... Even if a collective or a coin vote leads to an agreement, they lack the means to enact their decision; the true power still lies outside the protocol per se, i.e., with miners or validators (Petrowski, 2020). 40 ...
Preprint
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A Decentralised Autonomous Organisation ('DAO') is a term used to describe a 'virtual' organisation embodied in computer code and executed on a distributed ledger or blockchain. DAOs implement smart contract code to automate organisational governance and corporate decision-making tackling issues and operational systems inherent in traditional corporations. Firstly, DAOs can be used by participants working together collaboratively outside of a traditional corporate form. Secondly, DAOs can also be used by a registered corporate entity to automate formal governance rules contained in corporate bylaws or imposed by law (Jentzsch, 2016). Likened to a 'digital co-operative', a DAO's participant maintains direct real-time control of contributed funds and the DAO's governance rules are formalised, automated and enforced using smart contract code. A smart contract, i.e. a self-executing code on a blockchain, executes business logic when predetermined conditions are met i.e "if "x" occurs, then execute step "y" (Szabo, 1994). Smart contracts are designed to execute and monitor contractual conditions (such as payment terms and enforcement of legal agreements amongst other things). Arguably, smart contracts could lower various transactional costs and losses, minimise malicious and accidental occurrences, and also diminish the need for trusted intermediaries and centralised institutions such as central banks and reserves (Szabo, 1994). Around the world, the legal status of DAOs remains the subject of active and vigorous debate and discussion. Some commentators suggest that DAOs are autonomous code and can operate independently of legal systems; others suggest that they must be owned or operated by humans or human created entities. Ultimately, how a DAO functions and its legal status will depend on many factors, including how the DAO's code is programmed and by whom, where, and for what purposes it is used (Jentzsch, 2016). In terms of its potential as a substitute for corporate governance and working collaboratively outside of a traditional corporate form, the promise of DAOs is far from guaranteed and they are not without risk. However, DAOs are not an illusion because the technology is still in its ‘early days’. Until then, the development and testing of their vulnerabilities will greatly assist in how computational law and other emergent technology communities define, adopt and interact with DAOs.
... We provided a list of considerations that might help organizations to build a GDPR compliant blockchain business model. Second, understanding how blockchains are governed and how GDPR requirements are met is imperative for policymakers [23]. Our findings will help them in setting standards and practices to expedite the adoption of blockchain technology. ...
Conference Paper
Recent research has highlighted multiple incompatibilities between blockchain technology and the General Data Protection Regulation (GDPR) regarding data controller and data deletion. Such incompatibilities impede the adoption of blockchain technology on a larger scale. This paper aims to resolve these incompatibilities, exploring the issues that need to be considered while developing a GDPR compliant blockchain governance framework. We collected data using 20 semi-structured interviews and discussions from 18 different IT companies involved in blockchain-based service development. We analyzed the data using the Gioia approach. We identified three major governance dimensions that must be considered for GDPR compliant blockchain services, namely community , blockchain protocol, and compliance; each of which has several sub-dimensions. Our study extends prior governance frameworks, suggesting the guidelines to comply with GDPR requirements. This guidelines might help organizations to build a GDPR compliant blockchain business model. Based on our findings , we also put forward directions for future inquiry.
... The concept of decentralization has been applied mainly within the government of nation-states and political science [32], administration [33], fiscal area [34], and environment [35], but also across a diverse range of disciplines, such as complex systems engineering [36], space safety engineering [37], cybernetics [38], management science [39], economics around principal agents theory [40], finance [15], law and technology [41], crypto-economic systems [9] and more. ...
Article
While previously a nascent theoretical construct, decentralized autonomous organizations (DAO) have grown rapidly in recent years. DAOs typically emerge around the management of decentralized financial applications (DeFi) and thus benefit from the rapid growth of innovation in this sector. In response, global regulators increasingly voice the intent to regulate these activities. This may impose an excessive compliance burden on DAOs, unless they are deemed sufficiently decentralized to be regulated. Yet, decentralization is an abstract concept with scarce legal precedence. We investigate dimensions of decentralization through thematic analysis, combining extant literature with a series of expert interviews. We propose a definition of “sufficient decentralization” and present a general framework for the assessment of decentralization. We derive five dimensions for the assessment of decentralization in DAOs: Token-weighted voting, Infrastructure, Governance, Escalation and Reputation (TIGER). We present a discretionary sample application of the framework and five propositions on the future regulation and supervision of DAOs. We contribute new practical insights on the topic of compliance and decentralized organizations to the growing discourse on the application of blockchain technology in information systems (IS) and management disciplines.
... Data undergo distribution on various nodes (computers) simultaneously rather than being stored on one server. The use of open databases in BT results in a distributed and decentralized environment [52,53,66]. Hence, blockchain participants enjoy improved trust in each other. ...
Article
The literature illustrates Blockchain Technology (BT) to offer various advantages resulting in progress in the renewable energy supply chains (RESC). It is predicted that BT will bring a novel paradigm in the approach of transactions implemented in the RESC by decreasing the number of intermediaries, delayed payments, and high transaction lead times. As a developing economy, Iran provides the energy needs of an ever-growing population and confronts many issues affecting RESC. As a result, it is, therefore, crucial to accept BT in the RESC to leverage the different advantages. In the current study, we recognize and implement the relationships between the enablers of BT adoption in RESC. Twelve enablers were identified from the literature, and verified by the experts before using a Fuzzy Interpretive Structural Modelling (FISM) and Fuzzy Decision-Making Trial and Evaluation Laboratory (FDEMATEL) methodology. The results propose that the comparison among the identified enablers shows the most superior of secure database for BT implementation in RESC tracked by immutability and decentralized database. The results will provide better situations for the practitioners to design the strategies for BT implemented in renewable energy within a real-time data-driven RESC.
... While Ethereum practitioners have attempted to revolutionize diverse fields with blockchain, academic efforts have focused on studying the implications of applying the technology and proposing technical improvements to consolidate the infrastructure that supports the operation of blockchains. Examples of the former are concerns regarding dilemmas in the design of 1 Computer programs that run on the Ethereum network allowing the encoding of clauses in distributed applications signed among different parties, automatically enforcing the rules embedded in their code (Wright and De Filippi, 2015) 2 Turing complete refers to the Ethereum's ability to run programs of any complexity in a state machine called Ethereum Virtual Machine (Antonopoulos and Wood, 2018) blockchain technology for commons (Cila et al., 2020) or legal code (De Filippi and Hassan, 2018), while cases of the latter are to increase the security of protocols (Andrychowicz et al., 2014;Bentov et al., 2014), improve consensus algorithms (Gervais et al., 2016), or address network latency (Kraft, 2016). ...
Article
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The arrival of Ethereum in 2013 with its general-purpose programmable blockchain promised to introduce a new paradigm of Internet-based applications. At that moment, enthusiasts anticipated that the application of this new technology would revolutionize multiple fields from finance to healthcare to the public sector, to name but a few. During the subsequent decade and up until now, scientific efforts have been primarily focused on theoretical discussions about the implications of the technology and on technical proposals to improve and consolidate the underlying infrastructure (e.g., privacy, security, resource consumption, performance). However, the experience of people using systems based on blockchain has been largely neglected. For this technology to permeate the mainstream, significantly more attention must be paid to usability, ensuring the blockchain is easily accessible to the general public. This paper reports on usability tests conducted with first-time blockchain users of two Internet-mediated communities, who used prototype applications built on top of the Ethereum blockchain to understand the challenges of the user experience. Results unveil that even users who are familiar with modern technology experienced serious difficulties in using blockchain-based apps. We found that the use of domain-specific and highly-technical vocabulary and concepts complicates the understanding and operation of the apps. Also, we saw how the blockchain metaphors and transaction-mediated interactions challenge established mental models, imposing heavy workloads on users. We conclude the paper with design recommendations for improving the user interfaces used to interact with Ethereum and similar public blockchains.
... Because blockchain helps mitigate certain types of counterparty risks, innovative applications such as smart contracts (Howell and Potgieter, 2021), registration of real property (Arruñada, 2018), and decentralized autonomous organizations (DAOs) (Wright and De Filippi, 2015) have been heralded, although these applications face many structural challenges (Arruñada, 2018). Blockchain-technology advocates also promote the idea that a network built on blockchain can govern itself through its transparent protocol. ...
Article
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Institutional economists have analyzed permissionless blockchains as a novel institutional building block for voluntary economic exchange and distributed governance, with their unique protocol features such as automated contract execution, high levels of network and process transparency, and uniquely distributed governance. But such institutional analysis needs to be complemented by polycentric analysis of how blockchains change. We characterize such change as resulting from internal sources and external sources. Internal sources include constitutional (protocol) design and collective-choice processes for updating protocols, which help coordinate network participants and users. External sources include competitive pressure from other cryptocurrency networks. By studying two leading networks, Bitcoin and Ethereum, we illustrate how conceptualizing blockchains as competing and constitutional polycentric enterprises clarifies their processes of change.
... Traditionally, virtual worlds are created and owned by people and big companies. Still, crypto metaverses are typically decentralized [53], with some or all components of metaverse games built on blockchain technology. That clarifies the blockchain metaverse tendency towards diverging from the gaming industry's mainstream business models and value-generating models. ...
Article
The recent surge in the adoption of new technologies and innovations in connectivity, interaction technology, and artificial realities can fundamentally change the digital world. The Metaverse concept is the most recent trend to encapsulate and define the potential new digital landscape. However, with the introduction of 5G with high speed and low latency advancements in the hardware & software with the graphics power to display millions of polygons in 3D and blockchain technology, this concept is no longer fiction. This transition of today's Internet to a spatially embodied Internet is at its core a transition from 2D interactions to 3D interactions, taking place in multiple virtual universes. In recent years, augmented virtual reality has created possibilities in the private and professional spheres. The new Virtual Reality(VR) headsets and Augmented Reality(AR) glasses can provide immersion in the physical sense. To turn this concept into reality, technology must offer a realistic experience for users. This paper focuses on the potential use cases and possible benefits of the Metaverse as a tech for good. The paper outlines the potential areas where a positive impact could occur, highlights recent progress, and discusses the issues around trust, ethics, and cognitive load.
... Blockchain can be defined as a "distributed, shared, encrypted database that serves as an irreversible and incorruptible repository of information" [249]. Blockchain can be used to increase transparency through systematic and instant information exchange across different stakeholders and regions. ...
Technical Report
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This report is the Deliverable 2.1 entitled “Report on trends and key factors” of the Next-net project. The aim of the project is to put in place a cross-sectoral and cross-technological initiative at European level to increase integration between production and distribution proposing research and innovation priorities for the future of supply chain. The Deliverable 2.1 focuses on identifying and providing a comprehensive list of megatrends and associated trends that address critical aspects of several domains of analysis (e.g. political). The research design adopted follows two sequential phases of data collection namely literature review and experts workshop. The methodological approach of the first phase is guided by PESTLE (Political, Economic, Social, Technological, Legal and Environmental) framework, which examines political, economic, social, technological, legal and environmental megatrends and trends that can shape the landscape of the discrete manufacturing, process manufacturing and the logistics industry. NVivo software was used for content analysis of the collected reports and articles for recognising recurring themes, namely megatrends and their associated trends. Regarding phase two, Aston University, with the support of all project partners, organised and conducted a workshop with 18 experts on December 5, 2017 in Birmingham, United Kingdom.
... If truly decentralized, no single entity (including a DAO's creator) can alter, reverse, or control a DAO once it is deployed on the Internet. A DAO is virtually unregulatable and nonliable: it simply executes its pre-determined set of 'ifthen' rules [2,32]. If a DeFi project delegates management duties to an online community instead of a legal entity, then it is effectively a DAO [1,2]. ...
Thesis
La place de l’informatique dans nos sociétés actuelles est indiscutable et ne fait que se renforcer au quotidien. Sans cesse, des technologies de l’information et de la communication poussent nos conceptions juridiques et sociales dans de nouveaux retranchements. Faire face à ces technologies signifie alors de pouvoir appréhender ces changements, et les accompagner. Pouvoir construire un raisonnement reproductible à l’essor de toute nouvelle technologie devient alors indispensable pour pouvoir anticiper ces changements induits et déterminer l’opportunité ou non de réguler. Depuis plus de 10 ans, la blockchain, protocole informatique, peut bouleverser nos systèmes actuels, qu’ils soient financiers ou juridiques. Pourtant, déconnecter l’outil de l’application est essentiel pour sa bonne appréhension et ne pas limiter l’innovation. Technologie pouvant faire le lien entre monde technique et juridique, elle invite à une collaboration entre deux mondes qui restent et seront toujours liés.
Chapter
The contribution examines well-being in the workplace from the point of view of the concept of social pollution from the economic activity of companies. The partial results of the long-term monitoring study, annually conducted by the international research team in the countries of Eastern Europe and Asia, obtained through a sociological survey of hired workers in different economic sectors in January–February 2021 are presented. Collecting of empirical data was carried out using a questionnaire that was partially modified from taking into account the new conditions of economic activity arising from the Covid-19 pandemic. The general sample of respondents, numbering 1131 people, was formed by attracting employees from Russia, the Czech Republic, Turkey, and Kazakhstan to the online survey. The analysis of the survey results was carried out using the author’s model of multivariate processing of empirical data, including, among other things, methods of cluster analysis and determinative analysis, the two-dimensional projection for qualitative variables. The parameter “personnel category” was used as the base variable for the analysis of individual flows of two-dimensional distributions. The approbation of the model proved its applicability to study the causal relationships between the factors of social pollution of the labor sphere and the employees’ well-being.
Chapter
The potential impact of block chain on supply chain management has been explored by many authors, and indeed, many articles in the popular press extol the benefits of blockchain in supply chain management. In simple terms, blockchain is a distributed ledger system, or a record book, except that it is not maintained by a single person but by anyone who is interested in keeping the records. Since blockchain is a new and revolutionary concept in technology, more techies are interested in it. However, it also has certain disadvantages. The purpose of this study is to explain the challenges and pitfalls of blockchain in supply chain and logistics. Using a systematic literature review method, this chapter identifies 31 publications that discuss the challenges and pitfalls associated with blockchain in supply chain and logistics.
Chapter
With blockchain technology, the healthcare sector can have data efficiency, data access flexibility, interconnection, transparency, and security. This chapter reviews the development of blockchain technology usage, current implementation challenges of blockchain technology, and includes references for the applications of blockchain technology in healthcare. A systematic review of current status, desired status called ideal status, and the research gap of use of blockchain technology in application areas of the healthcare industry are included along with identification of possible research agendas for future research.
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ივანე ჯავახიშვილის სახელობის თბილისის სახელმწიფო უნივერსიტეტის იურიდიული ფაკულტეტის ,,სამართლის ჟურნალი“ არის სრული ღია წვდომის ორენოვანი, საერთაშორისო რეფერირებადი და რეცენზირებადი პერიოდული გამოცემა. ქართულენოვანი ჟურნალი დაფუძნდა 2009 წელს, 2011 წლიდან ჟურნალი წელიწადში ორჯერ ქართულენოვან და ინგლისურენოვან დამოუკიდებელ გამოცემებად ქვეყნდება ელექტრონული და ბეჭდური სახით. ჟურნალი მიზნად ისახავს სამართლის ყველა დარგობრივი მიმართულებით შედარებითსამართლებრივი კვლევების პუბლიცირების გზით დინამიური და ინტერნაციონალური სამეცნიერო პლატფორმის ჩამოყალიბებას და სამეცნიერო დისკურსის გაფართოებას ტრანსნაციონალურ კონტექსტში. ჟურნალის პერიოდული გამოცემის საერთაშორისო სტანდარტული სერიული ნომრებია (ISSN): ბეჭდური: 1987-7668 (ქართულენოვანი გამოცემისთვის), 2233-3746 (ინგლისურენოვანი გამოცემისთვის), ელექტრონული: 2720-782X.
Article
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This article focusses on the social and legal implications that blockchain technology brings about, not only due to its ideological framework, but also, and especially, due to the concept of law it inaugurates. Thus, this article claims, that, by interlocking technological and legal structures, blockchain technology initiates a profound displacement of legal symbolics and imaginaries. It shows how blockchain law, by emancipating itself from three essential dimensions of law—language, territory, and the body—implies a profound disruption of how we perceive law and its legitimacy. Starting with an overview of the technological details of blockchain, the paper then addresses its ideological context and traces the underlying ideas, values and functions and their relation with—and impact on—the general perception of law and legal issues. By critically assessing the claim that blockchain will liberate the subject from any heteronymic constraints, this paper analyses to what extent this technology has social and legal implications that reach far beyond its virtual, purely blockchain-related scope of applications—and why this technology should matter to us all.
Book
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LegalTech 1.0, 2.0, 3.0, Tokenization, smart contract, AI, Eu ID. The use of technological solutions, increasingly often referred to as LegalTech, in the administration of justice is nowadays necessary. It is impossible to imagine courts functioning without information systems or law firms not using electronic databases of case law and legal literature. However, technology is developing further and starting to go beyond the comfort zone of traditional legal services. Solutions are appearing which can and sometimes do replace people in tasks which people used to deal with not so long ago. Such solutions are e.g. those based on artificial intelligence, resulting in various algorithms functioning in practice, not always understandable for statistical users of legal services. This is, among other reasons, why in many aspects the use of the LegalTech tool raises significant doubts and leads to many unavoidable questions, including: Will traditional lawyers survive? Will robots and automatons replace us? Will artificial intelligence replace us in providing legal advice, creating contracts or issuing judgments? Is the effectiveness of LegalTech tools greater than the work of traditional lawyers? Or perhaps we are irreplaceable, irremovable and have nothing to worry about, and the role of the lawyer will not change? Of course, such and similar questions can be multiplied, and the answer to them basically boils down to explaining what the various LegalTech tools are, whether and how to implement them, and whether it is necessary or just useful? In this monograph we try to explore this research area and to bring the reader closer to the next stage of development of law, which more and more courageously uses various technological tools. Undoubtedly, the previously separate “worlds” of law, engineering, information technology and technology have come together in everyday life. Traditionally, the law regulated technical issues, defined technical standards, influenced the way IT systems were built or operated, including Internet platforms, while engineers followed the advice or opinions of lawyers. It was the law and lawyers who regulated technology and indicated the directions of implementation. However, the last stage of the digital revolution has quite significantly changed this situation, resulting in the equalization of law and technology, and thus the influence of lawyers on engineers. Increasingly, engineering is entering a domain that until recently was reserved exclusively for lawyers, and information systems are effectively replacing the work of a lawyer. In some aspects, such as Blockchain orBitcoin, engineering has even overtaken the law, forcing lawyers to learn, pioneered research directions and forced new, necessary regulations on the market. And, as you might think, more challenges lie ahead, and there is no turning back from the digital road. It is the time of algorithms, the time of legal technologization, the time of LegalTech. Therefore, the aim of our research is not only to indicate how the law and the lawyer's work is changing now, but also how much this area will change in the coming years. The book is an effect of scientific research of an inter-university team of an international group of scientists dealing with problems of new technologies and law in the aspect of digital economy 3.0 and economy 4.0. The first results of the team's work have already been published in Polish as part of the publication “LegalTech. Czyli jak bezpiecznie z narzędzi IT w organizacji, w tym w kancelarii oraz dziale prawnym” (LegalTech. How to safely use IT tools in an organisation, including a law firm and a legal department), published by C.H. Beck (Warsaw 2021). The current publication is a slightly revised and updated version of the Polish book, which also includes new texts and a new perspective on the rapidly changing technological reality that surrounds us. The publication is divided into two parts. The first part is more theoretical and explains the basic aspects and legal framework of technological tools, while the second part presents LegalTech solutions functioning in selected countries around the world. In the first part, we reflect on the limits of technology, algorithms and various possibilities of applying LegalTech tools in practice. In turn, in the second part, we show how particular legislators have applied technological possibilities and how this has improved the work of their judiciary. Undoubtedly, our publication does not explain all aspects of technological tools in the administration of justice. However, we believe that it can provide a voice in the discussion on the current and future shape of the legal services market. Therefore, we encourage you to discuss it with us. Since the work has a collective character, it should be emphasised here that the individual authors represent their own views. The fact that in such a group we do not always agree on a particular thought, in our opinion, only proves that we are open to other views, and the law is only the art of interpretation, for which in the changing technological reality, there is much room.We must add that the publication was financed within the framework of a scientific project conducted at the Andrzej Frycz Modrzewski Krakow Academy. 30.06.2021 Krakow, Dariusz Szostek, Mariusz Załucki
Book
Ivane Javakhishvili Tbilisi State University „Journal of Law“ is a full access bilingual, international peer-reviewed periodical published by TSU Faculty of Law. Georgian language journal was founded in 2009. Since 2011 the journal has been published in Georgian and English languages. The Georgian title of the journal is ,,სამართლის ჟურნალი“, the English title is „Journal of Law“. By the decision of the TSU Publishing Board the journal is published in full open access, twice a year, in independent - Georgian and English language printed and electronic editions.The journal aims to establish a dynamic and international scientific platform and expand scientific discourse in a transnational context by publishing comparative legal research in all fields of law. The International Standard Serial Number (ISSN) for the periodical is Print: 1987-7668 (for Georgian Edition), 2233-3746 (for English edition), electronic: 2720-782X.
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This paper presents an annotated portfolio of projects that seek to understand and communicate the social and societal implications of blockchains, DLTs and smart contracts. These complex technologies rely on human and technical factors to deliver cryptocurrencies, shared computation and trustless protocols but have a secondary benefit in providing a moment to re-think many aspects of society, and imagine alternative possibilities. The projects use design and HCI methods to relate blockchains to a range of topics, including global supply chains, delivery infrastructure, smart grids, volunteering and charitable giving, through engaging publics, exploring ideas and speculating on possible futures. Based on an extensive annotated portfolio we draw out learning for the design of blockchain systems, broadening participation and surfacing questions around imaginaries, social implications and engagement with new technology. This paints a comprehensive picture of how HCI and design can shape understandings of the future of complex technologies.
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Many encryption strategies have been applied to ensure data confidentiality and improve cloud security. The most recent cryptosystems are based on homomorphic (HE), attribute-based (ABE), and hybrid encryption. However, most of them suffer from numerous drawbacks: high time consumption, encrypted message size, and some vulnerabilities. Hence, a secure method is highly required to get a satisfying security level while keeping the computational complexity reduced. This paper outlines a novel technique that combines elliptic curve cryptography (ECC) and Blockchain technology. The data is first encoded using the Elliptic Curve Integrated Encryption Scheme, then signed using signed using the Elliptic Curve Digital Signature Algorithm, and finally confirmed by the blockchain network before being stored in the cloud. The performance evaluation results prove that the proposed system is highly resistant to man-in-the-middle and replay attacks and performs better than a set of existing solutions in terms of cryptography cost, encryption/decryption time, and algortithm complexity.
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The paper focuses on the legislative changes from 2021 that the Law on Digital Assets introduced into the legal system of the Republic of Serbia and contextualizes the amendments from the perspective of existing practice. Introductory part evaluates the issue of whether blockchain technology can secure trust and safety in the transactions that are executed via Internet by parties from all over the world, as well as reasons that created the regulatory framework for values that are transferred over distributed ledger technologies infrastructures. Main part of the paper examines in detail the legislative solutions within the Law on Digital Assets as well as key exceptions and terms and their impact on the local economy. The section is followed by an overview of the draft legislation in EU in the field as well as how it may impact Serbian economy as a third country. Aside from concluding remarks on legislative changes domestically, the paper outlines potential upcoming challenges related to blockchain and instruments that may require a different approach in regulation.
Chapter
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The core objective of the concept of International Data Spaces (IDS) is to enable controlled exchange and sharing of data between organizations, regardless of the type of data. Sharing of data will generate services that become an asset while data providers maintain their sovereignty. IDS furnish a technology enabler for implementing data economies to exchange data and knowledge, which are according to usage policies. Thus, data turns into an economic asset. However, once data have been provided toward IDS, sovereignty of data owners is of pivotal importance, as well as the question of its use and the transfer of incentives to providers. At this point, blockchain technology enters the ballpark. It is instrumental for the implementation and operation of clearing houses as trading platform for data provision and knowledge utilization. The aim of this chapter is to examine and discuss the role of blockchain for IDS. Next to general blockchain foundations and potentials, blockchain’s specific potential for IDS is discussed and its application is demonstrated by four compelling use cases.
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Decentralized autonomous organizations (DAOs) are blockchain-based organizations fed by a peer-to-peer (P2P) network of contributors. Their management is decentralized without top executive teams and built on automated rules encoded in smart contracts, and their governance works autonomously based on a combination of on-chain and off-chain mechanisms that support community decision-making. A growing body of literature has emerged exploring DAOs. However, there is a considerable lack of clarity about this organizational design and its theoretical conceptualization. To this end, we undertake an integrative literature review that reveals three main principles—decentralized, automated and autonomous organizations—and the following four theoretical perspectives mainly adopted to examine this novel organizational form: transaction cost theory, institutions for collective action, agency theory, and socio-materiality. By extending these theories, we propose an integrative model of DAO for research and theory building. Our contribution provides conceptual clarity and proposes a framework for future research directions.
Chapter
Application of blockchain technology is feasible in the insurance sector, thus authorising data transmission, preventing fraud, enabling automation, and safeguarding audit trails. The present study aims at understanding the use cases of blockchain in the insurance industry and examining the challenges and opportunities of blockchain technology in the insurance industry. This study is approached from a theoretical perspective, and literature search strategy was performed for all working and published research articles and book chapters indexed under different databanks (e.g., CEI, Google Scholar, IEEE, Research Gate, Web of Science, etc.). Only articles accessible in English and published between 2010 to 2021 are included in the study. Blockchain is gaining ever-increasing attention from various industries and research domains. A quantum leap in skills and technical know-how influences all segments of industries, and this revolution is absolutely necessary in the field of insurance. Thus, the implementation of blockchain in the insurance sector has turned out to be a default platform.
Chapter
Blockchain technology is a core, underlying technology that stimulates possible applications in the banking sector. The study examines blockchain, the nascent technology that reinforces Bitcoin and other cryptocurrencies, to determine what it is and how it can disrupt and alter the banking services. It emphasizes the technology's properties and explains why they can significantly impact the banking industry, including reimbursements, payments, outflows, credentials facilities, and novel products based on smart contracts. The study also considered the work that needs to be done by the industry for blockchain applications to become a mainstream part of the financial landscape. It emphasizes that this is not a technology that a single company can perfect to obtain an advantage over competitors. Instead, it may assist the entire sector by speeding up and securing transactions. However, it can only reach its full potential if there is a wide-ranging alliance across the industry to explore practices and develop shared standards.
Book
Full-text available
Ivane Javakhishvili Tbilisi State University „Journal of Law“ is a full access bilingual, international peer-reviewed periodical published by TSU Faculty of Law. Georgian language journal was founded in 2009. Since 2011 the journal has been published in Georgian and English languages. The Georgian title of the journal is ,,სამართლის ჟურნალი“, the English title is „Journal of Law“. By the decision of the TSU Publishing Board the journal is published in full open access, twice a year, in independent - Georgian and English language printed and electronic editions.The journal aims to establish a dynamic and international scientific platform and expand scientific discourse in a transnational context by publishing comparative legal research in all fields of law. The International Standard Serial Number (ISSN) for the periodical is Print: 1987-7668 (for Georgian Edition), 2233-3746 (for English edition), electronic: 2720-782X.
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Full-text available
Since blockchain technology has proven to be effective in the development of a wide range of industries, its use in other fields is also being expanded. Agriculture is one such sector, where blockchain technology is being used to improve farm business operations. Today, several agribusiness firms are utilizing technology to improve food supply chain tracking. For example, Farmers Edge, the world’s leading company that revolutionized the field of digital agriculture through its work in providing advanced artificial intelligence solutions, as well as new opportunities that give agriculture a globally advanced future for all stakeholders, has taken a significant step forward. The issue of blockchain network technology and its applications in agriculture will be discussed in this study, as well as the key advantages that this technology can provide, when employed to make the lives of both producers and consumers easier. In addition, a total of 79 research papers were evaluated, with a focus on the state of blockchain technology in agriculture, related issues, and its future importance, as well as relevant contributions to this new technology and the distributions of this study by different countries.
Chapter
Service Innovation plays an important role in research and practice and enabled the surge of new concepts that changes the focus from a product-oriented approach to a service-oriented approach. However, further developments place the customer in the center of company-client relationships. The recent advances in customer data analysis and the positioning of customers as company’s co-creators led to the development of a new concept called Customer-induced Orchestration of Services. The novelty of the topic requires further studies and a deeper understanding of the interdisciplinary concepts around it. This paper identifies the main drivers and concepts, allowing a more holistic view on the topic. The results support further research, as well as the development of a framework or method for the application of Customer-induced Orchestration of Services, which enables more transparency and control for customers.
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The market of oil and gas has many particularities, once it is a natural resource of great value. Due to the fact the resource is owned by nations, it is highly regulated. The volumes traded are high; for this reason, their calculation needs to be performed very carefully, meeting not only the uncertainties and metrological control, but also particularly the tracking of the activities. The technical regulations of measurement adopted by the countries carefully follows many guidelines. The reason is that the established volumes directly affect the calculation of royalties and profit sharing in concession agreements or even a simple ownership shift of the products. Therefore, it is an application with a lot of responsibility, involving a large amount of equipment, software, and execution processes. Therefore, the transfer of data among different entities requires total transparency and security. Blockchain technology, which has been initially developed for the financial market, presents itself as an alternative to ensure reliability, from the sensors in the field to the effective generation of the Monthly Report on the petroleum and natural gas production unit, which is the basic document for determining the remuneration of the owners of the product. This paper presents a technical solution for creating the blockchain validation blocks by the MAC (Media Access Control Address) addressing, which in turn comes from the communication boards of the flow computers and from the Supervisory Stations. There are limitations to extending this solution to the level of field sensors due to the current links of communication, but also because of the way that historical, events and alarm databases of the flow computers are generated. Once these devices exhibit an elevated degree of safety in their operation, the solution herein presented adds a high level of reliability in the fiscal measurement and/or custody transfer.
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Blockchain is a new general-purpose technology that poses significant challenges to policymaking, law, and society. Blockchain is even more distinctive than other transformative technologies, as it is by nature a global technology; moreover, it operates based on a set of rules and principles that have a law-like quality—the lex cryptographia. The global nature of blockchain has led to its adoption by international organizations such as the United Nations and the World Bank. However, the law-like nature of the technology makes some of its uses by international organizations questionable from an international law and foreign affairs perspective. In this light, the article examines the effectiveness and legitimacy of the use of blockchain for international policymaking.
Conference Paper
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Significant business growth is the result of innovations in their process and product, which is made possible by the use of high technologies such as blockchain. Technology has a huge impact on the world, not just through social media, big data, robotics and artificial intelligence, but these big changes can be achieved by the blockchain integration potential. By studying the fundamental concepts of the peer-to-peer blockchain networks, we find that this technology can record any tangible and intangible valuable assets. Its immutability, distributability and encryption capability revolutionizes the business centralism. One of the achievements of this technology is a fundamental revolution in the definition of trust that eliminates market frictions. In this study, we aim to have a meta-analysis on the role of blockchain technologies in businesses to express the opportunities and challenges of its implications for businesses. Also, we explain the facilitating role of blockchain in different industries by stating how to take advantage of these opportunities. Despite the comprehensive acceptance issue of this technology, new players have been made and that’s why blockchain tools can be the foundation of an intelligent economy through the transformation of businesses by changing systems. This article describes the fundamental features of blockchain technologies and the business opportunities that results from it and takes a futuristic insight for the evolution or development procedures of businesses.
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