Bitcoin: the wrong implementation of the right idea at the right time

This paper is a study into some of the regulatory implications of cryptocurrencies using the CAMPO research framework (Context, Actors, Methods, Methods, Practice, Outcomes). We explain in CAMPO format why virtual currencies are of interest, how self-regulation has failed, and what useful lessons can be learned. We are hopeful that the full paper will produce useful and semi-permanent findings into the usefulness of virtual currencies in general, block chains as a means of mining currency, and the profundity of current ‘media darling’ currency Bitcoin as compared with the development of block chain generator Ethereum. While virtual currencies can play a role in creating better trading conditions in virtual communities, despite the risks of non-sovereign issuance and therefore only regulation by code (Brown/Marsden 2013), the methodology used poses significant challenges to researching this ‘community’, if BitCoin can even be said to have created a single community, as opposed to enabling an alternate method of exchange for potentially all virtual community transactions. First, BitCoin users have transparency of ownership but anonymity in many transactions, necessary for libertarians or outright criminals in such illicit markets as #SilkRoad. Studying community dynamics is therefore made much more difficult than even such pseudonymous or avatar based communities as Habbo Hotel, World of Warcraft or SecondLife. The ethical implications of studying such communities raise similar problems as those of Tor, Anonymous, Lulzsec and other anonymous hacker communities. Second, the journalistic accounts of BitCoin markets are subject to sensationalism, hype and inaccuracy, even more so than in the earlier hype cycle for SecondLife, exacerbated by the first issue of anonymity. Third, the virtual currency area is subject to slowly emerging regulation by financial authorities and police forces, which appears to be driving much of the early adopter community ‘underground’. Thus, the community in 2016 may not bear much resemblance to that in 2012. Fourth, there has been relatively little academic empirical study of the community, or indeed of virtual currencies in general, until relatively recently. Fifth, the dynamism of the virtual currency environment in the face of the deepening mistrust of the financial system after the 2008 crisis is such that any research conclusions must by their nature be provisional and transient. All these challenges, particularly the final three, also raise the motivation for research – an alternative financial system which is separated from the real-world sovereign and which can use code regulation with limited enforcement from offline policing, both returns the study to the libertarian self-regulated environment of early 1990s MUDs, and offers a tantalising prospect of a tool to evade the perils of ‘private profit, socialized risk’ which existing large financial institutions created in the 2008-12 disaster. The need for further research into virtual currencies based on blockchain mining, and for their usage by virtual communities, is thus pressing and should motivate researchers to solve the many problems in methodology for exploring such an environment

Improved reception of in-body signals by means of a wearable multi-antenna system

High data-rate wireless communication for in-body human implants is mainly performed in the 402-405 MHz Medical Implant Communication System band and the 2.45 GHz Industrial, Scientific and Medical band. The latter band offers larger bandwidth, enabling high-resolution live video transmission. Although in-body signal attenuation is larger, at least 29 dB more power may be transmitted in this band and the antenna efficiency for compact antennas at 2.45 GHz is also up to 10 times higher. Moreover, at the receive side, one can exploit the large surface provided by a garment by deploying multiple compact highly efficient wearable antennas, capturing the signals transmitted by the implant directly at the body surface, yielding stronger signals and reducing interference. In this paper, we implement a reliable 3.5 Mbps wearable textile multi-antenna system suitable for integration into a jacket worn by a patient, and evaluate its potential to improve the In-to-Out Body wireless link reliability by means of spatial receive diversity in a standardized measurement setup. We derive the optimal distribution and the minimum number of on-body antennas required to ensure signal levels that are large enough for real-time wireless endoscopy-capsule applications, at varying positions and orientations of the implant in the human body

The place of space technology in economic development: Reflections on present and future aspects

The effects of the development of satellite applications on the orientation of the space effort were examined. The gap between available and exploited technology, the impact of the current economic climate and future trends are discussed. Europe's low level of public funding for its space effort, in comparison to other space powers, and the dangers of complacency regarding Europe's competitiveness in the space market are illustrated. A proposal for the general direction which Europe's future strategy must take if European independence in this field is to be preserved is presented

The gas chain: influence of its specificities on the liberalisation process. NBB Working Papers. No. 122, 16 November 2007

Like other network industries, the European gas supply industry has been liberalised, along the lines of what has been done in the United Kingdom and the United States, by opening up to competition the upstream and downstream segments of essential transmission infrastructure. The aim of this first working paper is to draw attention to some of the stakes in the liberalisation of the gas market whose functioning cannot disregard the network infrastructure required to bring this fuel to the consumer, a feature it shares with the electricity market. However, gas also has the specific feature of being a primary energy source that must be transported from its point of extraction. Consequently, opening the upstream supply segment of the market to competition is not so obvious in the European context, because, contrary to the examples of the North American and British gas markets, these supply channels are largely in the hands of external suppliers and thus fall outside the scope of EU legislation on the liberalisation and organisation of the internal market in gas. Competition on the downstream gas supply segment must also adapt to the constraints imposed by access to the grid infrastructure, which, in the case of gas in Europe, goes hand in hand with the constraint of dependence on external suppliers. Hence the opening to competition of upstream and downstream markets is not "synchronous", a discrepancy which can weaken the impact of liberalisation. Moreover, the separation of activities necessary for ensuring free competition in some segments of the market is coupled with major changes in the way the gas chain operates, with the appearance of new markets, new price mechanisms and new intermediaries. Starting out from a situation where gas supply was in the hands of vertically-integrated operators, the new regulatory framework that has been set up must, on the one hand, ensure that competitive forces can be given free rein, and, on the other hand, that free and fair competition helps the gas chain to operate coherently, at lower cost and in the interests of consumers, for whom the stakes are high as natural gas is an important input for many industrial manufacturing processes, even a "commodity" almost of basic necessity

Diffusion of mobile phones in Portugal: unexpected success?

This paper begins with a somewhat paradoxical situation: Portugal is one of the less innovative countries within the European Union by most innovation indicators but, simultaneously, it is a leading country in the diffusion of mobile phones. The remarkable evolution of the mobile telecommunications sector over the last 15 years turns the issue a little more intriguing. This paper addresses the diffusion of mobile phones in Portugal and focuses particularly on the take-off stage, which signalled a sudden change in the pattern of diffusion. The introduction of an innovation – prepaid cards – explains most of the change in the diffusion curve occurred around 1996 and the subsequent increase in the penetration rate. Prior known research has not considered pre-paid cards an important determinant of mobile phone diffusion, but pre-paid services had an enormous impact on the rate of adoption of mobile phones in many countries and it is the major take-off determinant of mobile phone diffusion in Portugal. The time lag between the launching of this innovation in Portugal and its adoption by other EU countries explains why Portugal not just caught up with the EU average mobile phone penetration rate around 1996, but moved ahead of it from then on

U.S. Trade in Services: Trends and Policy Issues

[Excerpt] This report provides background information and analysis on U.S. international trade in services. It analyzes policy issues before the United States, especially relating to negotiating international disciplines on trade in services and dealing complexities in measuring trade in services. The report also examines emerging issues and current and potential trade agreements, including the North American Free Trade Agreement (NAFTA), the Trade in Services Agreement (TiSA), and the Transatlantic Trade and Investment Partnership (T-TIP)

Competitiveness in International Trade in Knowledge-Intensive Services – The Case of Poland

The paper uses the Eurostat and WTO databases. The analyzed period for international transactions is usually 2000-2010, but for Poland the 1994-2010 period was used, i.e. since the European Agreement entered into forceW pracy wykorzystywane są bazy danych Eurostatu i WTO. Analiza obejmuje okres 2000-2010 dla transakcji międzynarodowych, oraz 1994-2010 dla Polski (od 1994 roku wszedł w życie Układ Europejski)