INDUSTRIAL APPLICATION OF BLOCKCHAIN TECHNOLOGY – ERASING THE WEAKNESSES OF VENDOR MANAGED INVENTORY

Technological advancements, such as machine learning or the concept of blockchain, have the potential to reshape entire branches of industry as a disruptive technology, but also offer the possibility to opti-mize existing processes. In this paper, we present a concept for vendor managed inventory relationships based on blockchain technology. Hence, we initially define necessary processes and transactions that highlight a special need for transparency and trust between the participants. We designed and developed a proof of concept that addresses the weaknesses of current VMI solutions by performing certain process steps in the blockchain. Thus, we implement a method based on smart contracts, which can interact with existing systems by using different data interfaces and therefore represents an application of Blockchain 3.0. The present work is intended to explain the concept to the reader and to support researchers for the future development of further industrial applications of the blockchain

The Role of Blockchain in Enterprise Procurement

Disruptive technologies, such as artificial intelligence, machine learning, or the blockchain, have the potential to transform entire industries as previous publications have outlined. They especially offer new opportunities to improve existing processes in the dimensions of performance, cost, and quality. Despite a continuously growing number of contributions, research and practice lack an adequate understanding about how blockchain can be used to achieve these benefits. Against this backdrop, this paper presents the current state of blockchain research in the field of enterprise procurement and outlines several avenues for future research. Therefore, we define relevant processes and functions to build a research framework for structuring and categorizing the current body of literature. Our results suggest that previous work mostly focuses on blockchain application scenarios with a focus on communication and transaction, while widely neglecting numerous fields, such as data integrity and data access

BLOCKCHAINS FOR PAY-PER-USE BUSINESS MODELS: INSIGHTS FROM A DESIGN RESEARCH STUDY

A blockchain features an immutable, encrypted, and distributed ledger that enables transactions even if trust and trusted intermediaries are absent. Despite research on their technological properties, few papers are on record to demonstrate (a) what business scenarios blockchains can enable and (b) under which circumstances they outperform rival technologies. This shortfall of design knowledge obscures blockchains’ value proposition, its conceptual limitations, and its positioning towards rival classes of IT artifacts. We set out to design a blockchain-based IS that enables pay-per-use business models for industrial equipment—a business model that suffers from high transaction costs and complex agency dilemma caused by asymmetric information. We demonstrate how smart contracts deployed in a blockchain can level these information asymmetries. However, we also find that blockchains will only outperform rival technologies if the business scenario fulfils a set of specific properties, narrowing down the scope of application scenarios for applying blockchains substantially

Security Risk Management for the Internet of Things

In recent years, the rising complexity of Internet of Things (IoT) systems has increased their potential vulnerabilities and introduced new cybersecurity challenges. In this context, state of the art methods and technologies for security risk assessment have prominent limitations when it comes to large scale, cyber-physical and interconnected IoT systems. Risk assessments for modern IoT systems must be frequent, dynamic and driven by knowledge about both cyber and physical assets. Furthermore, they should be more proactive, more automated, and able to leverage information shared across IoT value chains. This book introduces a set of novel risk assessment techniques and their role in the IoT Security risk management process. Specifically, it presents architectures and platforms for end-to-end security, including their implementation based on the edge/fog computing paradigm. It also highlights machine learning techniques that boost the automation and proactiveness of IoT security risk assessments. Furthermore, blockchain solutions for open and transparent sharing of IoT security information across the supply chain are introduced. Frameworks for privacy awareness, along with technical measures that enable privacy risk assessment and boost GDPR compliance are also presented. Likewise, the book illustrates novel solutions for security certification of IoT systems, along with techniques for IoT security interoperability. In the coming years, IoT security will be a challenging, yet very exciting journey for IoT stakeholders, including security experts, consultants, security research organizations and IoT solution providers. The book provides knowledge and insights about where we stand on this journey. It also attempts to develop a vision for the future and to help readers start their IoT Security efforts on the right foot

What Ukraine Taught NATO about Hybrid Warfare

Russia’s invasion of Ukraine in 2022 forced the United States and its NATO partners to be confronted with the impact of hybrid warfare far beyond the battlefield. Targeting Europe’s energy security, Russia’s malign influence campaigns and malicious cyber intrusions are affecting global gas prices, driving up food costs, disrupting supply chains and grids, and testing US and Allied military mobility. This study examines how hybrid warfare is being used by NATO’s adversaries, what vulnerabilities in energy security exist across the Alliance, and what mitigation strategies are available to the member states. Cyberattacks targeting the renewable energy landscape during Europe’s green transition are increasing, making it urgent that new tools are developed to protect these emerging technologies. No less significant are the cyber and information operations targeting energy security in Eastern Europe as it seeks to become independent from Russia. Economic coercion is being used against Western and Central Europe to stop gas from flowing. China’s malign investments in Southern and Mediterranean Europe are enabling Beijing to control several NATO member states’ critical energy infrastructure at a critical moment in the global balance of power. What Ukraine Taught NATO about Hybrid Warfare will be an important reference for NATO officials and US installations operating in the European theater.https://press.armywarcollege.edu/monographs/1952/thumbnail.jp

Stock Market Reactions to Corporate Blockchain Announcements

The dissertation's central focus lies in investigating the influence of temporal, industry-specific, firm-specific, and project-specific factors on the stock market risk and return associated with corporate blockchain announcements. Structured into three chapters, the research employs theoretical frameworks and empirical analyses to uncover nuanced insights. Chapter 2, anchored in signaling theory, examines the general market impact of corporate blockchain announcements, considering temporal factors, cryptocurrency hype phases, and differences between US and EU-based companies. It reveals significant positive stock market returns associated with blockchain news, amplified by project success, business-relatedness, and cryptocurrency hype periods. Chapter 3 extends the analysis to industry-level factors, revealing that firms in the Information Technology industry benefit more from blockchain announcements. It explores additional project-level effects, such as blockchain partnerships and consortium joinings, and assesses their impact on market risk. The findings suggest that blockchain announcements do not substantially alter a firm's risk profile. Chapter 4 focuses on specific blockchain use cases, emphasizing environmental, social, and governance (ESG) issues. It uncovers significant positive market reactions to ESG-related blockchain announcements and explores shareholder returns in supply chain management and finance-related use cases. The study suggests that shareholders react more favorably to project-specific announcements and less favorably to initiatives involving external IT service providers. By thoroughly analyzing diverse factors, this dissertation contributes to the ongoing academic discourse on the valuation of blockchain technology, offering a comprehensive understanding of the dynamics shaping corporate market value and risk in the era of blockchain adoption

Development of small and medium enterprises: the EU and East-partnership countries experience: monograph

The monograph reveals challenging issues of small and medium enterprises development in the European Union and East-Partnership countries. Special attention is paid to a new paradigm of financing investments and fostering innovations at all levels of legal entities including SMEs, enhancing innovative entrepreneurship in conditions of global social and technological challenges as well as determining priority sectors for small and medium enterprises as drivers of economic growth. The authors of the monograph emphasize on such European approaches to financing SMEs as crowd-funding and SME-bonds, analyze experience of applying fiscal instruments to support investment and innovations. The researchers underline the role of social investment as an innovative strategy for European SMEs that could be applied in Ukraine and East-partnership countries, suggest new conceptual approach to the evaluation of innovative business development. They also analyse trends of Ukrainian IT enterprises development in the context of modern information services in a global market. Additional attention is paid to the analysis of SMEs’ entrepreneurial potential in conditions of global social and technological changes, estimation effects of applying electronic governance technologies to provide administrative services by public authorities of various levels of governance. Finally, the researchers disclose economic mentality of legal entities as an informal side of financial assets and substantiate the necessity of creation entrepreneurial universities as drivers of innovative development of economy. The materials of the monograph will be useful to scholars, financial managers of companies, financial analysts, representatives of state bodies who implement the state policy in the field of SMEs development in the East-partnership countries, as well as students of economic universities

Understanding Quantum Technologies 2022

Understanding Quantum Technologies 2022 is a creative-commons ebook that provides a unique 360 degrees overview of quantum technologies from science and technology to geopolitical and societal issues. It covers quantum physics history, quantum physics 101, gate-based quantum computing, quantum computing engineering (including quantum error corrections and quantum computing energetics), quantum computing hardware (all qubit types, including quantum annealing and quantum simulation paradigms, history, science, research, implementation and vendors), quantum enabling technologies (cryogenics, control electronics, photonics, components fabs, raw materials), quantum computing algorithms, software development tools and use cases, unconventional computing (potential alternatives to quantum and classical computing), quantum telecommunications and cryptography, quantum sensing, quantum technologies around the world, quantum technologies societal impact and even quantum fake sciences. The main audience are computer science engineers, developers and IT specialists as well as quantum scientists and students who want to acquire a global view of how quantum technologies work, and particularly quantum computing. This version is an extensive update to the 2021 edition published in October 2021.Comment: 1132 pages, 920 figures, Letter forma