607 research outputs found
Externalities and complementarities in platforms and ecosystems: From structural solutions to endogenous failures
Platforms and ecosystems provide structures for constellations of economic actors to engage and interact as they seek to create and capture value. We consider how the constructs of platforms and ecosystems relate and explore why they have become more ubiquitous by focusing on the nature of their value-add. We propose that they emerge as a response to distinct market failures, which we identify, and we explain which specific externalities they help overcome. We also identify post-hoc endogenous functional and distributional failures that platforms and ecosystems, in turn, generate. We discuss implications for theory and practice
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
Mapping the Focal Points of WordPress: A Software and Critical Code Analysis
Programming languages or code can be examined through numerous analytical lenses. This project is a critical analysis of WordPress, a prevalent web content management system, applying four modes of inquiry. The project draws on theoretical perspectives and areas of study in media, software, platforms, code, language, and power structures. The applied research is based on Critical Code Studies, an interdisciplinary field of study that holds the potential as a theoretical lens and methodological toolkit to understand computational code beyond its function. The project begins with a critical code analysis of WordPress, examining its origins and source code and mapping selected vulnerabilities. An examination of the influence of digital and computational thinking follows this. The work also explores the intersection of code patching and vulnerability management and how code shapes our sense of control, trust, and empathy, ultimately arguing that a rhetorical-cultural lens can be used to better understand code\u27s controlling influence. Recurring themes throughout these analyses and observations are the connections to power and vulnerability in WordPress\u27 code and how cultural, processual, rhetorical, and ethical implications can be expressed through its code, creating a particular worldview. Code\u27s emergent properties help illustrate how human values and practices (e.g., empathy, aesthetics, language, and trust) become encoded in software design and how people perceive the software through its worldview. These connected analyses reveal cultural, processual, and vulnerability focal points and the influence these entanglements have concerning WordPress as code, software, and platform. WordPress is a complex sociotechnical platform worthy of further study, as is the interdisciplinary merging of theoretical perspectives and disciplines to critically examine code. Ultimately, this project helps further enrich the field by introducing focal points in code, examining sociocultural phenomena within the code, and offering techniques to apply critical code methods
Digital Platform Strategy - A Systematic Critical Review
While the transformative effect of digital platforms is broadly recognized, digital platform-related research evolved in largely disconnected streams focusing on technical platform architecture, network effects, and specific tactical decisions, without offering a holistic view of digital platform strategy. With the goal of advancing digital platform strategy research, we conduct a systematic critical review of research published in the leading Information Systems journals through a pragmatic business strategy lens that argues that markets, partnerships, differentiators, staging, and profit logic form the core elements of a holistic business strategy. We outline the core insights in extant research and we identify a number of promising opportunities for expanding the scope of digital platform strategy research in Information Systems
Next Generation Business Ecosystems: Engineering Decentralized Markets, Self-Sovereign Identities and Tokenization
Digital transformation research increasingly shifts from studying information systems within organizations towards adopting an ecosystem perspective, where multiple actors co-create value. While digital platforms have become a ubiquitous phenomenon in consumer-facing industries, organizations remain cautious about fully embracing the ecosystem concept and sharing data with external partners. Concerns about the market power of platform orchestrators and ongoing discussions on privacy, individual empowerment, and digital sovereignty further complicate the widespread adoption of business ecosystems, particularly in the European Union.
In this context, technological innovations in Web3, including blockchain and other distributed ledger technologies, have emerged as potential catalysts for disrupting centralized gatekeepers and enabling a strategic shift towards user-centric, privacy-oriented next-generation business ecosystems. However, existing research efforts focus on decentralizing interactions through distributed network topologies and open protocols lack theoretical convergence, resulting in a fragmented and complex landscape that inadequately addresses the challenges organizations face when transitioning to an ecosystem strategy that harnesses the potential of disintermediation.
To address these gaps and successfully engineer next-generation business ecosystems, a comprehensive approach is needed that encompasses the technical design, economic models, and socio-technical dynamics. This dissertation aims to contribute to this endeavor by exploring the implications of Web3 technologies on digital innovation and transformation paths. Drawing on a combination of qualitative and quantitative research, it makes three overarching contributions:
First, a conceptual perspective on \u27tokenization\u27 in markets clarifies its ambiguity and provides a unified understanding of the role in ecosystems.
This perspective includes frameworks on: (a) technological; (b) economic; and (c) governance aspects of tokenization.
Second, a design perspective on \u27decentralized marketplaces\u27 highlights the need for an integrated understanding of micro-structures, business structures, and IT infrastructures in blockchain-enabled marketplaces. This perspective includes: (a) an explorative literature review on design factors; (b) case studies and insights from practitioners to develop requirements and design principles; and (c) a design science project with an interface design prototype of blockchain-enabled marketplaces.
Third, an economic perspective on \u27self-sovereign identities\u27 (SSI) as micro-structural elements of decentralized markets. This perspective includes: (a) value creation mechanisms and business aspects of strategic alliances governing SSI ecosystems; (b) business model characteristics adopted by organizations leveraging SSI; and (c) business model archetypes and a framework for SSI ecosystem engineering efforts.
The dissertation concludes by discussing limitations as well as outlining potential avenues for future research. These include, amongst others, exploring the challenges of ecosystem bootstrapping in the absence of intermediaries, examining the make-or-join decision in ecosystem emergence, addressing the multidimensional complexity of Web3-enabled ecosystems, investigating incentive mechanisms for inter-organizational collaboration, understanding the role of trust in decentralized environments, and exploring varying degrees of decentralization with potential transition pathways
The Public Performance Of Sanctions In Insolvency Cases: The Dark, Humiliating, And Ridiculous Side Of The Law Of Debt In The Italian Experience. A Historical Overview Of Shaming Practices
This study provides a diachronic comparative overview of how the law of debt has been applied by certain institutions in Italy. Specifically, it offers historical and comparative insights into the public performance of sanctions for insolvency through shaming and customary practices in Roman Imperial Law, in the Middle Ages, and in later periods.
The first part of the essay focuses on the Roman bonorum cessio culo nudo super lapidem and on the medieval customary institution called pietra della vergogna (stone of shame), which originates from the Roman model.
The second part of the essay analyzes the social function of the zecca and the pittima Veneziana during the Republic of Venice, and of the practice of lu soldate a castighe (no translation is possible).
The author uses a functionalist approach to apply some arguments and concepts from the current context to this historical analysis of ancient institutions that we would now consider ridiculous.
The article shows that the customary norms that play a crucial regulatory role in online interactions today can also be applied to the public square in the past. One of these tools is shaming. As is the case in contemporary online settings, in the public square in historic periods, shaming practices were used to enforce the rules of civility in a given community. Such practices can be seen as virtuous when they are intended for use as a tool to pursue positive change in forces entrenched in the culture, and thus to address social wrongs considered outside the reach of the law, or to address human rights abuses
Committer Assessment Practice in Blockchain Project: A Systematic Literature Review
As Blockchain projects gain popularity among developers, the number of patched codes rapidly increases. With such growth, it is difficult for the few committers to maintain it in a timely manner. Subsequently, the community is always in search of new committers. This highlights the imperative importance of committer assessment decisions towards the success of Blockchain. However, the practices come with risks whereby new committers may harm the project. For example, a new committer may initiate a hard fork that splits a project. Numerous systematic literature reviews have investigated developer turnover’s impact on open-source software (OSS) projects. These studies mainly focused on aspects such as community participation, engagement, and motivation. However, previous reviews often overlooked committer assessment practices, particularly in the context of Blockchain projects. Although Blockchain operates as OSS, its distinct attributes, such as decentralisation and cryptography, justify the need for a dedicated review. Therefore, the objectives of this review are to 1) identify committer assessment practices, 2) identify problems in committer assessment, 3) identify existing factors in committer assessment, and 4) suggest some possible research topics. These goals were achieved through a systematic review of literature published between 2010 and 2022. The findings suggest that previous assessment models are useful but mainly focus on technical factors. The results also indicate that studies focusing on behavioural tendencies, which influence human activities, have so far been neglected. Finally, the paper concludes by charting potential open research opportunities
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