Beyond Bitcoin: Issues in Regulating Blockchain Transactions

The buzz surrounding Bitcoin has reached a fever pitch. Yet in academic legal discussions, disproportionate emphasis is placed on bitcoins (that is, virtual currency), and little mention is made of blockchain technology—the true innovation behind the Bitcoin protocol. Simply, blockchain technology solves an elusive networking problem by enabling “trustless” transactions: value exchanges over computer networks that can be verified, monitored, and enforced without central institutions (for example, banks). This has broad implications for how we transact over electronic networks. This Note integrates current research from leading computer scientists and cryptographers to elevate the legal community’s understanding of blockchain technology and, ultimately, to inform policymakers and practitioners as they consider different regulatory schemes. An examination of the economic properties of a blockchain-based currency suggests the technology’s true value lies in its potential to facilitate more efficient digital-asset transfers. For example, applications of special interest to the legal community include more efficient document and authorship verification, title transfers, and contract enforcement. Though a regulatory patchwork around virtual currencies has begun to form, its careful analysis reveals much uncertainty with respect to these alternative applications

Big Data and Artificial Intelligence in Digital Finance

This open access book presents how cutting-edge digital technologies like Big Data, Machine Learning, Artificial Intelligence (AI), and Blockchain are set to disrupt the financial sector. The book illustrates how recent advances in these technologies facilitate banks, FinTech, and financial institutions to collect, process, analyze, and fully leverage the very large amounts of data that are nowadays produced and exchanged in the sector. To this end, the book also describes some more the most popular Big Data, AI and Blockchain applications in the sector, including novel applications in the areas of Know Your Customer (KYC), Personalized Wealth Management and Asset Management, Portfolio Risk Assessment, as well as variety of novel Usage-based Insurance applications based on Internet-of-Things data. Most of the presented applications have been developed, deployed and validated in real-life digital finance settings in the context of the European Commission funded INFINITECH project, which is a flagship innovation initiative for Big Data and AI in digital finance. This book is ideal for researchers and practitioners in Big Data, AI, banking and digital finance

Cyber Security

This open access book constitutes the refereed proceedings of the 16th International Annual Conference on Cyber Security, CNCERT 2020, held in Beijing, China, in August 2020. The 17 papers presented were carefully reviewed and selected from 58 submissions. The papers are organized according to the following topical sections: access control; cryptography; denial-of-service attacks; hardware security implementation; intrusion/anomaly detection and malware mitigation; social network security and privacy; systems security

A Holistic Framework for Complex Big Data Governance

Big data assets are large datasets that can be leveraged by organisations if the capabilities exist, but it also brings considerable challenges. Despite the benefits that can be realised, the lack of proper big data governance is a major barrier, making the processing and control of this data exceptionally difficult to execute correctly. More specifically, organisations reportedly struggle to incorporate big data governance into their existing structures and business models to derive value from big data initiatives. Big data governance is an emerging research domain, gaining attention from both Information Systems scholars and the practitioner community. Nonetheless, there appears to have been limited scientific research in the area and most existing data governance approaches were limited, given they do not address end-to-end aspects of how big data could be governed. Furthermore, no suitable framework for handling data governance against big data complexities was found to be available. Thus, the main contribution of the work presented in this thesis is to address this requirement; by advancing research in this field and designing a novel holistic big data governance framework capable of supporting global organisations to effectively manage big data as an asset, thereby obtaining value from their big data initiatives. An extensive systematic literature review was done in order to uncover the published content that reflects the current state of knowledge in big data governance. To facilitate the creation of the proposed framework a grounded theory methodology was used to analyse openly available parliamentary inquiry data sources, with particular focus on identifying the core criteria for big data governance. The resulting novel framework generated provides new knowledge by identifying several big data governance building blocks; which are classified as strategic goals, execution stages, enablers and 22 core big data governance components to ensure an effective big data governance programme. Moreover, thesis findings indicate that big data complexities extend to the ethical side of big data governance and this is taken into consideration in the framework design. An ‘ethics by design’ component is proposed to influence how this can be addressed in a structured way

Big Data and Artificial Intelligence in Digital Finance

This open access book presents how cutting-edge digital technologies like Big Data, Machine Learning, Artificial Intelligence (AI), and Blockchain are set to disrupt the financial sector. The book illustrates how recent advances in these technologies facilitate banks, FinTech, and financial institutions to collect, process, analyze, and fully leverage the very large amounts of data that are nowadays produced and exchanged in the sector. To this end, the book also describes some more the most popular Big Data, AI and Blockchain applications in the sector, including novel applications in the areas of Know Your Customer (KYC), Personalized Wealth Management and Asset Management, Portfolio Risk Assessment, as well as variety of novel Usage-based Insurance applications based on Internet-of-Things data. Most of the presented applications have been developed, deployed and validated in real-life digital finance settings in the context of the European Commission funded INFINITECH project, which is a flagship innovation initiative for Big Data and AI in digital finance. This book is ideal for researchers and practitioners in Big Data, AI, banking and digital finance

A Survey on Enterprise Network Security: Asset Behavioral Monitoring and Distributed Attack Detection

Enterprise networks that host valuable assets and services are popular and frequent targets of distributed network attacks. In order to cope with the ever-increasing threats, industrial and research communities develop systems and methods to monitor the behaviors of their assets and protect them from critical attacks. In this paper, we systematically survey related research articles and industrial systems to highlight the current status of this arms race in enterprise network security. First, we discuss the taxonomy of distributed network attacks on enterprise assets, including distributed denial-of-service (DDoS) and reconnaissance attacks. Second, we review existing methods in monitoring and classifying network behavior of enterprise hosts to verify their benign activities and isolate potential anomalies. Third, state-of-the-art detection methods for distributed network attacks sourced from external attackers are elaborated, highlighting their merits and bottlenecks. Fourth, as programmable networks and machine learning (ML) techniques are increasingly becoming adopted by the community, their current applications in network security are discussed. Finally, we highlight several research gaps on enterprise network security to inspire future research.Comment: Journal paper submitted to Elseive

Data-driven disaster management in a smart city

Disasters, both natural and man-made, are extreme and complex events with consequences that translate into a loss of life and/or destruction of properties. The advances in IT and Big Data analysis represent an opportunity for the development of resilient environments once the application of analytical methods allows extracting information from a significant amount of data, optimizing the decision-making processes. This research aims to apply the CRISP-DM methodology to extract information about incidents that occurred in the city of Lisbon with emphasis on occurrences that affected buildings, constituting a tool to assist in the management of the city. Through this research, it was verified that there are temporal and spatial patterns of occurrences that affected the city of Lisbon, with some types of occurrences having a higher incidence in certain periods of the year, such as floods and collapses that occur when there are high levels of precipitation. On the other hand, it was verified that the downtown area of the city is the area most affected by occurrences. Finally, machine learning models were applied to the data and the predictive model Random Forest obtained the best result with an accuracy of 58%.info:eu-repo/semantics/publishedVersio

Big Data for All: Privacy and User Control in the Age of Analytics

We live in an age of “big data.” Data have become the raw material of production, a new source for immense economic and social value. Advances in data mining and analytics and the massive increase in computing power and data storage capacity have expanded by orders of magnitude the scope of information available for businesses and government. Data are now available for analysis in raw form, escaping the confines of structured databases and enhancing researchers’ abilities to identify correlations and conceive of new, unanticipated uses for existing information. In addition, the increasing number of people, devices, and sensors that are now connected by digital networks has revolutionized the ability to generate, communicate, share, and access data. Data creates enormous value for the world economy, driving innovation, productivity, efficiency, and growth. At the same time, the “data deluge” presents privacy concerns which could stir a regulatory backlash dampening the data economy and stifling innovation. In order to craft a balance between beneficial uses of data and individual privacy, policymakers must address some of the most fundamental concepts of privacy law, including the definition of “personally identifiable information,” the role of individual control, and the principles of data minimization and purpose limitation. This article emphasizes the importance of providing individuals with access to their data in usable format. This will let individuals share the wealth created by their information and incentivize developers to offer user-side features and applications harnessing the value of big data. Where individual access to data is impracticable, data are likely to be de-identified to an extent sufficient to diminish privacy concerns. In addition, since in a big data world it is often not the data but rather the inferences drawn from them that give cause for concern, organizations should be required to disclose their decisional criteria

Big Data for All: Privacy and User Control in the Age of Analytics

We live in an age of “big data.” Data have become the raw material of production, a new source for immense economic and social value. Advances in data mining and analytics and the massive increase in computing power and data storage capacity have expanded by orders of magnitude the scope of information available for businesses and government. Data are now available for analysis in raw form, escaping the confines of structured databases and enhancing researchers’ abilities to identify correlations and conceive of new, unanticipated uses for existing information. In addition, the increasing number of people, devices, and sensors that are now connected by digital networks has revolutionized the ability to generate, communicate, share, and access data. Data creates enormous value for the world economy, driving innovation, productivity, efficiency, and growth. At the same time, the “data deluge” presents privacy concerns which could stir a regulatory backlash dampening the data economy and stifling innovation. In order to craft a balance between beneficial uses of data and individual privacy, policymakers must address some of the most fundamental concepts of privacy law, including the definition of “personally identifiable information,” the role of individual control, and the principles of data minimization and purpose limitation. This article emphasizes the importance of providing individuals with access to their data in usable format. This will let individuals share the wealth created by their information and incentivize developers to offer user-side features and applications harnessing the value of big data. Where individual access to data is impracticable, data are likely to be deidentified to an extent sufficient to diminish privacy concerns. In addition, since in a big data world it is often not the data but rather the inferences drawn from them that give cause for concern, organizations should be required to disclose their decisional criteria