Implications of Dissemination Strategies on the Security of Distributed Ledgers

This paper describes a simulation study on security attacks over Distributed Ledger Technologies (DLTs). We specifically focus on attacks at the underlying peer-to-peer layer of these systems, that is in charge of disseminating messages containing data and transaction to be spread among all participants. In particular, we consider the Sybil attack, according to which a malicious node creates many Sybils that drop messages coming from a specific attacked node, or even all messages from honest nodes. Our study shows that the selection of the specific dissemination protocol, as well as the amount of connections each peer has, have an influence on the resistance to this attack.Comment: Proceedings of the 3rd Workshop on Cryptocurrencies and Blockchains for Distributed Systems (CryBlock 2020

Simulation of Dissemination Strategies on Temporal Networks

In distributed environments, such as distributed ledgers technologies and other peer-to-peer architectures, communication represents a crucial topic. The ability to efficiently disseminate contents is strongly influenced by the type of system architecture, the protocol used to spread such contents over the network and the actual dynamicity of the communication links (i.e. static vs. temporal nets). In particular, the dissemination strategies either focus on achieving an optimal coverage, minimizing the network traffic or providing assurances on anonymity (that is a fundamental requirement of many cryptocurrencies). In this work, the behaviour of multiple dissemination protocols is discussed and studied through simulation. The performance evaluation has been carried out on temporal networks with the help of LUNES-temporal, a discrete event simulator that allows to test algorithms running on a distributed environment. The experiments show that some gossip protocols allow to either save a considerable number of messages or to provide better anonymity guarantees, at the cost of a little lower coverage achieved and/or a little increase of the delivery time

Deployment of distributed ledger and decentralized technology for transition to smart industries

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On the Convergence of Artificial Intelligence and Distributed Ledger Technology: A Scoping Review and Future Research Agenda

Developments in Artificial Intelligence (AI) and Distributed Ledger Technology (DLT) currently lead to lively debates in academia and practice. AI processes data to perform tasks that were previously thought possible only for humans. DLT has the potential to create consensus over data among a group of participants in uncertain environments. In recent research, both technologies are used in similar and even the same systems. Examples include the design of secure distributed ledgers or the creation of allied learning systems distributed across multiple nodes. This can lead to technological convergence, which in the past, has paved the way for major innovations in information technology. Previous work highlights several potential benefits of the convergence of AI and DLT but only provides a limited theoretical framework to describe upcoming real-world integration cases of both technologies. We aim to contribute by conducting a systematic literature review on previous work and providing rigorously derived future research opportunities. This work helps researchers active in AI or DLT to overcome current limitations in their field, and practitioners to develop systems along with the convergence of both technologies

Blockchain Value Creation Logics and Financial Returns

With its complexities and portfolio-nature, the advent of blockchain technology presents several use cases to stakeholders for business value appropriation and financial gains. This 3-essay dissertation focuses on three exemplars and research approaches to understanding the value creation logics of blockchain technology for financial gains. The first essay is a conceptual piece that explores five main affordances of blockchain technology and how these can be actualized and assimilated for business value. Based on the analysis of literature findings, an Affordance-Experimentation-Actualization-Assimilation (AEAA) model is proposed. The model suggests five affordance-to-assimilation value chains and eight value interdependencies that firms can leverage to optimize their value creation and capture during blockchain technology implementation. The second essay empirically examines the financial returns of public firms\u27 blockchain adoption investments at the level of the three main blockchain archetypes (private-permissioned, public-permissioned and permissionless. Drawing upon Fichman\u27s model of the option value of innovative IT platform investments, the study examines business value creation through firm blockchain strategy (i.e., archetype instances, decentralization, and complementarity), learning (i.e., blockchain patents and event participation), and bandwagon effects using quarterly data of firm archetype investments from 2015 to 2020. The study\u27s propensity score matching utilization and fixed-effects modeling provide objective quantification of how blockchain adoption leads to increases in firm value (performance measured by Tobin\u27s q) at the archetype level (permissionless, public permissioned, and private permissioned). Surprisingly, a more decentralized archetype and a second different archetype implementation are associated with a lower Tobin\u27s q. In addition, IT-option proxy parameters such as blockchain patent originality, participation in blockchain events, and network externality positively impact firm performance, whereas the effect of blockchain patents is negative. As the foremost and more established use case of blockchain technology whose business value is accessed in either of the five affordances and exemplifies a permissionless archetype for financial gains, bitcoin cryptocurrency behavior is studied through the lens of opinion leaders on Twitter. The third essay this relationship understands the hourly price returns and volatility shocks that sentiments from opinion leaders generate and vice-versa. With a dynamic opinion leader identification strategy, lexicon and rule-based sentiment analytics, I extract sentiments of the top ten per cent bitcoin opinion leaders\u27 tweets. Controlling for various economic indices and contextual factors, the study estimates a vector autoregression model (VAR) and finds that finds that Bitcoin return granger cause Polarity but the influence of sentiment subjectivity is marginal and only stronger on bitcoin price volatility. Several key implications for blockchain practitioners and financial stakeholders and suggestions for future research are discussed

Shifting trust in construction supply chains through blockchain technology

Purpose: Blockchain technology is booming in many industries. Its application in supply chain management is also gradually increasing. Supply chain management (SCM) has long been committed to reducing costs and increasing efficiency and is trying to optimise resources and reduce the sector's fragmentation. Trust has always been an important factor in managing supply chain relationships, and it also affects the efficiency of supply chain operations. To this end, this study aims to examine how trust is affected by the introduction of blockchain technology in construction supply chain management. Design/methodology/approach: This study is based on semi-structured interviews and publicly available information from experts in blockchain and construction supply chain management. Through content analysis, the data are analysed thematically to explore how various types of trust, such as system-based, cognition-based and relation-based, are affected by blockchain technology. Findings: Blockchain technology provides solutions for data tracking, contracting and transferring resources in supply chain management. These applications help enhance the various sources of trust in SCM and provide supply chain partners with protection mechanisms to avoid the risks and costs of opportunistic behaviour in collaboration, shifting trust from relational to system-based and cognition-based. Research limitations/implications: This study focuses only on inter-organisational rather than interpersonal trust and empirical data from experts whose knowledge and cognition could be subjective. Practical implications: Leveraging the potential of digitalisation to manage trust requires that leaders and managers actively try to improve contractual arrangements, information sharing and being open to new innovative technologies like blockchain. Social implications: From a relational view of supply chain management, the extent to which blockchain technology can develop and spread depends on the readiness of the social capital to accept decentralised governance structures. Originality/value: This study builds upon an original data set and discusses features and applications of blockchain technology, explores the sources and dimensions of trust in supply chain management and explains the impact of blockchain technology on trust

A Framework for Standardization of Distributed Ledger Technologies for Interoperable Data Integration and Alignment in Sustainable Smart Cities

Distributed ledger technologies (DLTs) are considered one of the foremost emerging technologies which can contribute to transform cities to smarter cities. DLT play important role in municipalities to accelerate the digitalization process toward changing the roles and services of enterprises in sustainable smart cities. Standardization of DLTs aids to reduce data and digital assets silos while decreasing vendor lock-in across distributed applications enabling a digital urban ecosystem that supports migration capabilities making it possible for cities to seamlessly achieve interoperability among DLTs and centralized digital platforms, although a few standards such as IEEE 2418, IEEE P2418.5, and ISO/TC 307 have been developed. The alignment and integration mechanisms required to support standardization of DLT for interoperable services in smart cities is lacking. Therefore, this study presents an understanding on current and open issues on standardization of DLTs in sustainable smart cities with a specific focus on data integration and alignment efforts related to interoperable DLTs. A framework is developed to promote standardization of DLTs to support integration and alignment for interoperability in smart cities. Design science research methodology was adopted based on three use case scenarios which illustrates how IOTA tangle is employs as a DLT for secured standardized communication between physical sensors, devices, and digital platforms in smart city environment. Findings from this article provide exploratory evidence demonstrating the potential uses of IOTA tangle through the developed framework applied for decentralized and centralized digital services. Based on this evidence, this study provides interface integration and alignment strategies to better exploit distributed applications full potential by improving DLT standardization in urban environment.publishedVersio

Distributed Space Traffic Management Solutions with Emerging New Space Industry

Day-to-day services, from weather forecast to logistics, rely on space-based infrastructures whose integrity is crucial to stakeholders and end-users worldwide. Current trends point towards congestion of the near-Earth space environment increasing at a rate greater than existing systems support, and thus demand novel cost-efficient approaches to traffic detection, characterization, tracking, and management to ensure space remains a safe, integral part of societies and economies worldwide. Whereas machine-learning (ML) and artificial intelligence (AI) have been extensively proposed to address congestion and alleviate big-data problems of the future, little has been done so far to tackle the need for transnational coordination and conflict-resolution in the context of space traffic management (STM). In STM, there is an ever-growing need for distributing information and coordinating actions (e.g., avoidance manoeuvres) to reduce the operational costs borne by individual entities and to decrease the latencies of actionable responses taken upon the detection of hazardous conditions by one-to-two orders of magnitude. However, these needs are not exclusive to STM, as evidenced by the widespread adoption of solutions to distributing, coordinating, and automating actions in other industries such as air traffic management (ATM), where a short-range airborne collision avoidance system (ACAS) automatically coordinates evasive manoeuvres whenever a conjunction is detected. Within this context, this paper aims at establishing a roadmap of promising technologies (e.g., blockchain), protocols and processes that could be adapted from different domains (railway, automotive, aerial, and maritime) to build an integrated traffic coordination and communication architecture to simplify and harmonise stakeholders’ satellite operations. This paper is organised into seven sections. First, Section 1 introduces the problem of STM, highlighting its complexity. Following this introduction, Section 2 discusses needs and requirements of various stakeholders such as commercial operators, space situational awareness (SSA) service providers, launch-service providers, satellite and constellation owners, governmental agencies, regulators, and insurance companies. Then, Section 3 addresses existing gaps and challenges in STM, focusing on globally coordinated approaches. Next, Section 4 reviews technologies for distributed, secure, and persistent communications, and proposed solutions to address some of these challenges from non-space sectors. Thereafter, Section 5 briefly covers the history of STM proposals and presents the state-of-the-art solution being proposed for modern STM. Following this review, Section 6 devises a step-by-step plan for exploiting and deploying some of the identified technologies within a five-to-ten-year timeline to close several existing gaps. Finally, Section 7 concludes the paper

How Blockchain Affects the Technological Strategy of the Financial Industry: An Analysis Based on Knowledge Discovery in Text

Purpose – The main objective of this article is to investigate how blockchain is affecting the technological strategy of the financial industry.Theoretical framework – Our theoretical framework is structured based on four approaches: Blockchain; Blockchain Advantages; Technology Strategy; Blockchain Technology Strategy.Design/methodology/approach – We conducted an exploratory study using knowledge discovery in texts (KDT), with the support of text mining tools. We collected and analyzed contents of a set of news published on the Web about Blockchain. A total of 2,605 blockchain web news items were extracted from the business media worldwide, such as Forbes, Fortune, Financial Post and Business World. We explored the text dataset using sentiment analysis, opinion mining, text association analysis, and correspondence analysis.Findings – The results showed that blockchain technology has the potential to affect the transactions through a common platform. Additionally, the results demonstrated the advantages of blockchain technology for cross-border payment systems.Research, Practical & Social implications – We elaborate four theoretical propositions that may guide research and help practitioners to identify challenges and opportunities for blockchain technology.Originality/value – Our study revealed how blockchain has been affecting the technology strategy of the financial industry and highlighted two starting trajectories: the establishment of private blockchain and its application in the cross-border payment services.