Multilateral Transparency for Security Markets Through DLT

For decades, changing technology and policy choices have worked to fragment securities markets, rendering them so dark that neither ownership nor real-time price of securities are generally visible to all parties multilaterally. The policies in the U.S. National Market System and the EU Market in Financial Instruments Directive— together with universal adoption of the indirect holding system— have pushed Western securities markets into a corner from which escape to full transparency has seemed either impossible or prohibitively expensive. Although the reader has a right to skepticism given the exaggerated promises surrounding blockchain in recent years, we demonstrate in this paper that distributed ledger technology (DLT) contains the potential to convert fragmented securities markets back to multilateral transparency. Leading markets generally lack transparency in two ways that derive from their basic structure: (1) multiple platforms on which trades in the same security are matched have separate bid/ask queues and are not consolidated in real time (fragmented pricing), and (2) highspeed transfers of securities are enabled by placing ownership of the securities in financial institutions, thus preventing transparent ownership (depository or street name ownership). The distributed nature of DLT allows multiple copies of the same pricing queue to be held simultaneously by a large number of order-matching platforms, curing the problem of fragmented pricing. This same distributed nature of DLT would allow the issuers of securities to be nodes in a DLT network, returning control over securities ownership and transfer to those issuers and thus, restoring transparent ownership through direct holding with the issuer. A serious objection to DLT is that its latency is very high—with each Bitcoin blockchain transaction taking up to ten minutes. To remedy this, we first propose a private network without cumbersome proof-of-work cryptography. Second, we introduce into our model the quickly evolving technology of “lightning networks,” which are advanced two-layer off-chain networks conducting high-speed transacting with only periodic memorialization in the permanent DLT network. Against the background of existing securities trading and settlement, this Article demonstrates that a DLT network could bring multilateral transparency and thus represent the next step in evolution for markets in their current configuration

Total Value of Ownership and Overall Equipment Effectiveness analysis to evaluate the impact of automation on time and costs of therapeutic drug monitoring

Abstract Total Value of Ownership (TVO) and Overall Equipment Effectiveness (OEE) analysis are novel tools capable of monitoring and analyzing industrial processes by assessing the efficiency of the entire instrumental equipment and calculating instrument capacity utilization. Such integrated analysis, measuring quality indicators of the testing process, could also provide new perspectives and methodologies for the workflow organization of clinical laboratories. In this study, TVO and OEE were employed for the evaluation of two different configurations of a therapeutic drug monitoring sector, comparing the results obtained for immunosuppressant (ISD) and anti-epileptic drugs (AED) analysis as well as checking their quantitative performance in terms of limit of quantification, accuracy and precision. TVO analysis was performed for ISDs, including the Total Direct Labor Time, Total Cycle Time and Turnaround Time as well as cost of testing. Instruments' performance and workload were assessed using OEE indicator, studying Availability, Performance and Quality factors. Total Cycle Time for a batch was 3.55 h, decreasing of 1.5 h in the new setting where personnel are engaged for 0.98 h, 25% of total testing time. The calculated cost per sample was 6.60 euro. Availability values were significantly higher for automated sample-handling system and ISDs analysis by LC-MS. Higher Performance values were obtained for LC-MS system for AED and other TDM. Quality values were >0.94 for all instruments. TVO and OEE proved to be applicable to clinical laboratory environment, quantifying benefits and costs of newly developed semi-automated therapeutic drug monitoring sector. This novel approach based on an integrated analysis may help activity planning and quality improvement and could be used in the future for benchmarking progress as a product/process comparison tool in other laboratory fields

The political imaginaries of blockchain projects: discerning the expressions of an emerging ecosystem

There is a wealth of information, hype around, and research into blockchain’s ‘disruptive’ and ‘transformative’ potential concerning every industry. However, there is an absence of scholarly attention given to identifying and analyzing the political premises and consequences of blockchain projects. Through digital ethnography and participatory action research, this article shows how blockchain experiments personify ‘prefigurative politics’ by design: they embody the politics and power structures which they want to enable in society. By showing how these prefigurative embodiments are informed and determined by the underlying political imaginaries, the article proposes a basic typology of blockchain projects. Furthermore, it outlines a frame to question, cluster, and analyze the expressions of political imaginaries intrinsic to the design and operationalization of blockchain projects on three analytic levels: users, intermediaries, and institutions.</p

Blockchain technology enhances sustainable higher education

This research investigates blockchain technology, focusing on the influence of motivation on collaborative work, which positively influences learning performance in Higher Education Institutions (HEI). In addition, blockchain technology is correlated with decentralisation, security and integrity, and anonymity and encryption. It can also be perceived as a consensus mechanism, rewarding students, professors, and universities as a smart contract. Therefore, this technology has been used to improve higher education. It also allows less informed people to interact with better-informed peers and mentors. Finally, this study aims to enhance the current state of blockchain applications comprehension. The methodology used for this research includes document analysis, literature review, content analysis (blockchain platforms), the case study method, and the survey method. In statistical considerations, aiming to evaluate indicators, this research presents the Composite Reliability Analysis, Cronbach Alpha Coefficients, and the Bootstrapping method (Variance Inflation Factor). All these analyses aimed to present a designed research model. This exploratory research gathered data from 150 students at 3 universities in Serbia, Romania, and Portugal. As demonstrated, using student motivation has a significant and positive impact on the quality of student collaborative work. Student collaborative work also correlates with students’ higher level of engagement in the educational process, and the more engaged students are, the better their learning outcomes will be. As a result, in higher education, student involvement boosted learning outcomes. Researchers found that motivation, teamwork, and student involvement were important factors in improving student learning outcomes, as were blockchain-based tools. The results from the quantitative analysis indicate that Collaborative work, Motivation, Engagement, MOOCs, AR, VR, Gamification, and Online class were associated with learning performance.info:eu-repo/semantics/publishedVersio

Distributed Ledger Technology (DLT) Applications in Payment, Clearing, and Settlement Systems:A Study of Blockchain-Based Payment Barriers and Potential Solutions, and DLT Application in Central Bank Payment System Functions

Payment, clearing, and settlement systems are essential components of the financial markets and exert considerable influence on the overall economy. While there have been considerable technological advancements in payment systems, the conventional systems still depend on centralized architecture, with inherent limitations and risks. The emergence of Distributed ledger technology (DLT) is being regarded as a potential solution to transform payment and settlement processes and address certain challenges posed by the centralized architecture of traditional payment systems (Bank for International Settlements, 2017). While proof-of-concept projects have demonstrated the technical feasibility of DLT, significant barriers still hinder its adoption and implementation. The overarching objective of this thesis is to contribute to the developing area of DLT application in payment, clearing and settlement systems, which is still in its initial stages of applications development and lacks a substantial body of scholarly literature and empirical research. This is achieved by identifying the socio-technical barriers to adoption and diffusion of blockchain-based payment systems and the solutions proposed to address them. Furthermore, the thesis examines and classifies various applications of DLT in central bank payment system functions, offering valuable insights into the motivations, DLT platforms used, and consensus algorithms for applicable use cases. To achieve these objectives, the methodology employed involved a systematic literature review (SLR) of academic literature on blockchain-based payment systems. Furthermore, we utilized a thematic analysis approach to examine data collected from various sources regarding the use of DLT applications in central bank payment system functions, such as central bank white papers, industry reports, and policy documents. The study's findings on blockchain-based payment systems barriers and proposed solutions; challenge the prevailing emphasis on technological and regulatory barriers in the literature and industry discourse regarding the adoption and implementation of blockchain-based payment systems. It highlights the importance of considering the broader socio-technical context and identifying barriers across all five dimensions of the social technical framework, including technological, infrastructural, user practices/market, regulatory, and cultural dimensions. Furthermore, the research identified seven DLT applications in central bank payment system functions. These are grouped into three overarching themes: central banks' operational responsibilities in payment and settlement systems, issuance of central bank digital money, and regulatory oversight/supervisory functions, along with other ancillary functions. Each of these applications has unique motivations or value proposition, which is the underlying reason for utilizing in that particular use case

Blockchain, enterprise resource planning (ERP) and accounting information systems (AIS):Research on e-procurement and system integration

Accounting information systems (AISs), the core module of any enterprise resource planning (ERP) system, are usually designed as centralised systems. Nowadays, the continuous development and applications of blockchain, or more broadly—distributed ledger technology (DLT), can change the architecture, overcome and improve some limitations of centralised systems, most notably security and privacy. An increasing number of authors are suggesting the application of blockchain technologies in management, accounting and ERPs. This paper aims to examine the emerging literature on this field, and an immediate result is that blockchain applications can have significant benefits. The paper’s innovative contribution and considerable objective are to examine if blockchain can be successfully integrated with AIS and ERPs. We find that blockchain can facilitate integration at multiple levels and better serve various purposes as auditing compliance. To demonstrate that, we analyse e-procurement systems and operations using case study research methodology. The findings suggest that DLT, decentralised finance (DeFI), and financial technology (FinTech) applications can facilitate integrating AISs and ERP systems and yield significant benefits for efficiency, productivity and security

Scaling Culture in Blockchain Gaming: Generative AI and Pseudonymous Engagement

Managing rapidly growing decentralized gaming communities brings unique challenges at the nexus of cultural economics and technology. This paper introduces a streamlined analytical framework that utilizes Large Language Models (LLMs), in this instance open-access generative pre-trained transformer (GPT) models, offering an efficient solution with deeper insights into community dynamics. The framework aids moderators in identifying pseudonymous actor intent, moderating toxic behavior, rewarding desired actions to avoid unintended consequences of blockchain-based gaming, and gauging community sentiment as communities venture into metaverse platforms and plan for hypergrowth. This framework strengthens community controls, eases onboarding, and promotes a common moral mission across communities while reducing agency costs by 95 pct. Highlighting the transformative role of generative AI, the paper emphasizes its potential to redefine the cost of cultural production. It showcases the utility of GPTs in digital community management, expanding their implications in cultural economics and transmedia storytelling