Blockchain Cases and Innovations

Permanent URI for this collectionhttps://hdl.handle.net/10125/107549

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Now showing 1 - 11 of 11

Navigating the Landscape: A Taxonomy Approach to Blockchain-based Derivative Protocols
(2024-01-03) Lamberty, Ricky; Mann, Ferdinand; Kölbel, Tobias
Blockchain-based derivative protocols have the potential to revolutionize the current risk management landscape. However, despite their increasing adoption, a comprehensive understanding of the dimensions and characteristics of these protocols is still lacking in the literature. To address this research gap, we present an analysis of currently available blockchain-based derivative protocols, focusing specifically on their applicability in corporate commodity risk management. Drawing upon interviews with five professionals from diverse corporations, we identify the requirements of corporate financial asset and commodity risk managers as the basis for our taxonomy development. Leveraging a data set derived from the analysis of 10 distinct blockchain-based derivative protocols through two successive research loops, we provide a structure that enhances our understanding of these protocols. Our taxonomy unveils 5 meta-characteristics, encompassing 21 dimensions and 64 characteristics, offering insights into the nature of blockchain-based derivative protocols.
DAG-Sword: A Simulator of Large-Scale Network Topologies for DAG-Oriented Proof-of-Work Blockchains
(2024-01-03) Perešíni, Martin; Hladký, Tomáš; Malinka, Kamil; Homoliak, Ivan
The blockchain brought interesting properties for many practical applications. However, some properties, such as the transaction processing throughput remained limited, especially in Proof-of-Work blockchains. Therefore, several promising directions, such as sharding designs and DAG-based protocols emerged. In this paper, we focus on DAG-based consensus protocols and present a discrete-event simulator for them. Our simulator can simulate realistic blockchain networks created from data of a Bitcoin network, while its network configuration and topology can be customized. The simulated network consists of honest and malicious miners. Malicious miners do not make any attack on consensus itself. Instead, they use a different transaction selection strategy than honest miners (who select transactions randomly) with the intention to earn unfairly more profits than honest miners at the cost of downgrading the protocol performance by duplicate transactions. As a consequence, this harms the performance of some DAG-based protocols (e.g., PHANTOM and GHOSTDAG) in terms of transaction processing throughput, which we demonstrate in our experiments and extend the results of the related work that contains a small-scale network of 10 nodes by the results obtained on a large-scale network with 7000 nodes. Next, we empirically compare different algorithms for the mempool structure, and we propose a composite mempool structure that is memory-efficient and thus convenient for simulations of resource-demanding large-scale networks.
Towards a Decentralized Autonomous Governance Model to Improve Governance of Charities
(2024-01-03) Dosso, Mamadou; Senyo , Pk; Tingbani, Ishmael
Applying Decentralized Autonomous Organizations (DAOs), a participative-based technology in the charity sector, enables donors to manage donations collectively, vote, and release donations when conditions are met. This approach empowers donors’ decision-making and improves transparency. This systematic literature review (SLR) assesses the integration of DAO as a new way of managing charity projects through decentralized governance and smart contracts (SCs). Our analysis covered 29 studies in the literature, from which we identified key dimensions and top-level functions constituting the state-of-art in integrating DAO in charity organizations. Our review reveals the potential of DAO in improving charity organization practices and decisions by way of utilizing SCs that create dynamic control environments. The review develops a step-by-step decentralized charity governance project (DCGP) model to automate donations and improve transparency.
The Dynamic Effects of Blockchain-based Identity Management Adoption on Data Breaches
(2024-01-03) Mulaji, Sarah; Brown, Irwin; Roodt, Sumarie
The purpose of this research was to explore the dynamics associated with the adoption of blockchain-based identity management (IDM) to illustrate its effects on data breach rates. A comprehensive literature review was conducted, and data was analysed using the system dynamics technique of causal loop diagram. The analysis identified key circular causal relationships which show how data breach rates could be reduced by adopting a blockchain-based IDM system like self-sovereign identity.
Community Empowerment in Decentralized Autonomous Organizations: A Configurational Approach to Decentralization
(2024-01-03) Soleimanof, Leily; Neufeld, Derrick
While digital platforms make up a significant share of all enterprises in today's market, they are criticized for eliciting platform dominance and monopolistic behavior. Decentralized autonomous organizations (DAOs) use blockchain technology to coordinate platforms that enable users to participate in governance through decentralized, collective decision-making. Although DAOs are designed to drive member participation in governance, some DAOs do not achieve full decentralization and non-hierarchical decision-making. To understand why this occurs, we use empowerment theory to propose that decentralization is contingent upon three empowering practices: autonomy, transparency, and communication openness. Based on fuzzy-set qualitative comparative analysis (fsQCA) of 20 DAO cases, we introduce "deliberative empowerment" as a configuration of organizational practices associated with high levels of community participation in DAO governance. Our findings indicate that although autonomy is a precondition for successful decentralization, equally important is the active utilization of deliberative spaces that encourage communication and discussion among DAO members.
Web3 Decentralized Business Models
(2024-01-03) Kaae, Christina; Pedersen, Asger; Agerskov, Signe; Beck, Roman
This paper presents key characteristics of Web3 and how the traditional business model canvas (BMC) requires update to support managers in the Web3 industry. The characteristics of Web3 include Dapps, wallets, interoperability, tokenization, distributed ownership, decentralized communities, creator economy, and token economy. This study investigates how a business model in Web3 is different from the traditional BMC by Osterwalder and Pigneur (2010) based on a Delphi study with a panel of eight experts from the Web3 industry. The contribution of the research outlines a nascent Web3 business model canvas with seven building blocks, which are complemented by two overarching components specific to the nascent Web3 business models: value co-creation and value distribution. Furthermore, the model expands on the blocks of community and customer, tokenomics, and incentive and reward structures.
ESG on the Chain: Unveiling the Impact of Different Blockchain Use Cases on Short-Term Stock Performance
(2024-01-03) Rogalski, Timo; Schiereck, Dirk
We examine stock market reactions to different corporate blockchain use cases, particularly those related to environmental, social, and governance (ESG) issues. The study utilizes the event study methodology and analyzes an international dataset including 679 announcements from 291 firms worldwide. The findings indicate significant positive shareholder reactions to announcements related to traceability-, finance- and trading-, as well as ESG-related blockchain initiatives. In fact, ESG-related announcements generate superior market reactions compared to non-ESG-related news. These results contribute to the understanding of factors influencing shareholder value in the context of corporate blockchain initiatives and emphasize the substantial impact of ESG-related blockchain use cases on stock performance.
Demystifying the impact of blockchain on trust in emerging and established relationships: A case of organic food supply chains
(2024-01-03) Yavaprabhas, Kongmanas; Kurnia, Sherah; Seyedghorban, Zahra; Samson, Daniel
The blockchain as a trustworthy technology is believed to help reinforce inter-organizational trust when being implemented in supply chains. However, most of previous literature examined this conceptually and focused on established relationships. This study aims to fill the gaps by conducting an empirical case study to examine the impact of blockchain usage on inter-organizational trust development in both emerging and established relationships within organic food supply chains. The findings suggest that suppliers can use blockchain to signal their trustworthiness to potential and new buyers in the early stages of their partnerships. The supplier’s brand credibility, the credibility of information verified by a third party, and openness in information sharing are indicated as blockchain-inspired trustworthiness signals that facilitate buyers’ trust. Conversely, blockchain usage shows limited impact on established relationships. This study offers implications to research and practice in enhancing the current understanding of the impact of blockchain on inter-organizational trust.
Are Blockchains Really Decentralized? A Multimodal Perspective on Tokenized Decision Making and Venture Capital Investments in Web3
(2024-01-03) Kölbel, Tobias; Binder, Kai Alexander; Weinhardt, Christof
Decentralization in Web3 projects is a polarizing topic, with proponents and critics presenting divergent views on blockchain governance. To navigate these tensions, this study employs an exploratory design science research approach. It utilizes a multiple-case study methodology to develop a framework for tokenized decision making and analyze venture capital investments in Web3 projects. We enable researchers and practitioners to grasp the phenomenon in a structured manner and address a critical sub-field of information systems research, which focuses on power concentration in Web3 ecosystems.
Using Contextual Integrity to Uncover Acceptability of Information Flows in Central Bank Digital Currency Transactions
(2024-01-03) Tronnier, Frederic
Central Bank Digital Currency (CBDC) are a rapidly evolving payment technology, with privacy being a crucial factor. Research on privacy in CBDC is limited and focuses mainly on technical considerations and its link to adoption intention. This paper presents a first step towards understanding privacy norms in digital euro transactions for German citizens. The study employs a large-scale questionnaire, based on contextual integrity theory, to investigate acceptable flows of information and privacy parameters for CBDC and other digital payment methods. We conduct a pretest with 127 respondents, followed by a main study with 1064 respondents to measure and compare acceptability of various information flows. The results reveal the importance of (un)acceptable recipients of transaction- and identity-related information and the influence of different transmission principles. The findings can be used by central banks and policymakers to design and implement CBDC that corresponds to individuals' privacy norms.
Introduction to the Minitrack on Blockchain Cases and Innovations
(2024-01-03) Papadaki, Maria; Themistocleous, Marinos; Da Cunha, Paulo

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