Smart Contracts using Blockchain

The contract is the sovereign tool employed to manage agreements between entities in today’s society. It plays a crucial role in a variety of different fields, ranging from politics to finance. This fact implies the efficiency of these applications is determined in part by the efficiency of the contracts they rely on. Despite their important role, contracts have changed relatively little in the last few centuries and remain based on an outdated technology of bureaucracy and procedures done by hand. Such systems are full of unnecessary complications, are incredibly wasteful in terms of time, money and resources, and are susceptible to human failure. In the last few years, a type of contract represented by a computer program has appeared. This concept, known as a smart contract, is based on the emerging blockchain technology. Blockchain is a type of distributed system which assures the immutability of data via the use of mathematically secure cryptographic techniques and that, as will be discussed, is well-suited for the implementation of smart contract systems. Transitioning contracts into the digital era would not only allow them to catch up to the technological pace of society but also would be advantageous from a safety and efficiency standpoint. This body of work will test the feasibility of using blockchain-based smart contracts to facilitate the first steps of this evolution. This thesis assembles a proof of concept platform that supports the specification and execution of smart contracts on a blockchain network. This proof of concept will in particular target the use case of opening a bank account, aiming to create an efficient, permanent, reliable and safe process. To achieve this, we constructed a Hyperledger Fabric network. We present herein the system developed and discuss the nuances pertaining to deploying a codebase on a blockchain, the evaluation of our system, and finally some visions for further development of this and related use cases

Dissecting Smart Contract Languages: A Survey

Blockchain is a distributed ledger technology that gained popularity for enabling the transformation of cryptocurrency among peers without mediation by a centralized third-party authority. Smart contracts expand the applications of blockchain technology and have played a role in its widespread adoption. Smart contracts are immutable digital programs that are deployed on blockchains to codify agreements between parties. Existing smart contract implementations have faced challenges, including security vulnerabilities, leading to significant losses and concerns. This has stimulated a wave of attempts to improve Smart Contract Languages (SCLs) to overcome implementation challenges and ensure code quality, producing many languages with diverse features. Scholars have made some attempts to classify SCLs and clarify the process of selecting an SCL, but to the best of our knowledge, no comprehensive survey of existing SCLs has been published. Our work surpasses earlier efforts by evaluating a significantly larger set of SCLs, in greater depth, to ease the process of SCL selection for blockchain research and implementation. In this paper, we (1) propose a robust framework for comparing existing SCLs, (2) analyze and discuss 36 SCLs, addressing issues beyond those used to construct the comparison framework, and (3) define new parameters for future research and development of SCLs. The survey provides a guide for those who intend to select or use an SCL to implement smart contracts, develop new SCLs, or add new extensions to the existing SCLs

Smallholder agricultural carbon projects in Ghana: Benefits, barriers, and institutional arrangements

Climate mitigation projects that involve smallholder farmers may provide solutions for decreasing agriculture’s role in global greenhouse gas (GHG) emissions. Farmer involvement in the development of agricultural climate change mitigation projects is essential if projects are to be sustainable and to ensure projects do not compromise farmer livelihoods and food security. This paper profiles four ongoing agricultural carbon projects in Ghana with in depth comparative analysis highlighting their differences and similarities. The purpose of this research was to provide a snapshot of the current state of climate mitigation projects in Ghana that are reducing agricultural GHG emissions while also helping smallholder farmers support their livelihoods and adapt to climate change. The projects use a variety of incentive mechanisms to promote on-farm conservation measures, including tree planting and conservation agriculture. The projects aim to provide both short-term and long- term benefits; however, participation requirements pose barriers for some farmers. Institutional arrangements (e.g. contracts, land tenure, farmer organizations) can affect the costs, risks, barriers, and incentives farmers encounter in participating and benefiting from climate mitigation projects. Future research and attention to project design has the potential to clarify the role of carbon markets and certification in agricultural mitigation projects and ensure that benefits are distributed fairly

Unraveling the Relationship between Environmental Taxation and Trade: The Moderating Role of Judicial System within the Japanese context

The efficacy of environmental taxation in achieving global emission reduction and its impact on economic performance have been widely debated, in the context of sustainable development. However, the role of the judiciary system's effectiveness as a moderating factor has been largely overlooked in previous studies. The current study examines the impact of green taxation on trade performance from two perspectives: firstly, the individual effect of environmental taxation on trade, and secondly, the moderating effect of the judiciary system on the relationship between environmental taxation and trade, with a focus on Japan. The study utilizes several factors, such as judicial independence, impartial courts, property rights protection, and legal enforcement of contracts, to represent the judiciary system. Autoregressive distributed lag methodology is employed to analyze the data. The findings reveal that the introduction of environmental taxation reduces Japanese trade both in the short and long run. However, the negative impact of environmental taxation on trade is balanced by the moderating effect of an effective judiciary system. The study suggests that the judiciary system can play a crucial role in mitigating the adverse effects of environmental taxation by ensuring that it is implemented equitably and efficiently, and by enforcing penalties on governments and corporations that violate environmental regulations

Analysis of Competition in the Defense Industrial Base: An F/A-22 Case Study

Consolidation of the defense industrial base has led to concerns about whether enough competition exists between remaining firms to maintain needed cost reduction and innovation. We examine competition in the U.S. defense industrial base by performing an in-depth case study of Lockheed Martin and the F-22 program that considers multiple tiers of the industrial base. We find that defense firm specialization has led to outsourcing practices and arguably a more robust U.S. defense industrial base. Implications for government policy are identified

The Role of International Rules in Blockchain-Based Cross-Border Commercial Disputes

[excerpt] The concept of online dispute resolution (ODR) is not new. 1 But, with the advent of Web 3.0, the distributed web that facilitates pseudonymous and cross-border transactions via blockchain\u27s distributed ledger technology, 2 the idea of, and pressing need for, appropriate dispute resolution models for blockchain-based disputes to support this novel system of distributed consensus and trust of which blockchain proponents boast, is a primary concern in rapid development. 3 The common goal of each project is to utilize smart contracts to facilitate superior, quicker[,] and less expensive proceedings by eliminating so many of the tedious and protracted trappings of traditional arbitral proceedings, such as the sending and receiving of documents via courier. , Despite myriad approaches, all emerging blockchain-based dispute resolution services (BDR solutions) generally seek to bridge the divide between automated performance mechanisms, like smart contracts, and the human judgment traditionally required to settle legal disputes.5 How our existing legal frameworks must develop to ensure that smart contracts 6 facilitate, rather than frustrate, the parties\u27 intent is a critically important question to ask as the blockchain stack\u27s infrastructure and application layers are being built and, ultimately, scaled. Indeed, interest is high in the race to create alternative dispute resolution mechanisms to resolve disputes arising from blockchain-based commercial transactions that, due to the transnational, borderless, pseudonymous, and distributed nature of blockchain, clearly necessitate international solutions.

Knowledge Sharing and the Psychological Contract: Managing Knowledge Workers across Different Stages of Employment

Purpose – An employee’s willingness to share knowledge may be contingent on whether the organization equitably fulfills its reward obligations. This paper seeks to examine how managers and organizations can be vehicles for managing psychological contract perceptions favoring knowledge sharing among current employees, newcomers, and applicants. Design/methodology/approach – The authors propose an integrative model to discuss psychological contract issues within each stage of employment and HRM initiatives that can encourage knowledge-sharing behaviors. Findings – The implicit psychological contracts that often influence knowledge worker attitudes for sharing knowledge are easy to overlook and challenging to manage. Managers must properly assess the nature of psychological contracts maintained by such workers so that knowledge-sharing messages address employees’ key motivators. Different psychological contracts exist at various stages of employment. Several prescriptions for effectively managing each type of psychological contract and reducing perceptions of PC breach were offered. Research limitations/implications – Empirical studies should seek to investigate whether different psychological contracts actually exist within a field setting. In addition, how workers move between transitional, transactional, balanced and relational psychological contracts should be empirically examined. Originality/value – The authors sought to better understand the different psychological contract perceptions of knowledge workers at various stages of employment, which has not been done to date. Such workers are keenly aware of the impact of their knowledge and effective management for sharing rather than hoarding becomes a critical success factor for knowledge-intensive organizations

Sustainable Development Report: Blockchain, the Web3 & the SDGs

This is an output paper of the applied research that was conducted between July 2018 - October 2019 funded by the Austrian Development Agency (ADA) and conducted by the Research Institute for Cryptoeconomics at the Vienna University of Economics and Business and RCE Vienna (Regional Centre of Expertise on Education for Sustainable Development).Series: Working Paper Series / Institute for Cryptoeconomics / Interdisciplinary Researc

Blockchain, Leadership And Management: Business AS Usual Or Radical Disruption?

The Internet provided the world with interconnection. However, it did not provide it with trust. Trust is lacking everywhere in our society and is the reason for the existence of powerful intermediaries aggregating power. Trust is what prevents the digital world to take over. This has consequences for organisations: they are inefficient because time, energy, money and passion are wasted on verifying everything happens as decided. Managers play the role of intermediaries in such case: they connect experts with each others and instruct them of what to do. As a result, in our expert society, people's engagement is low because no one is there to inspire and empower them. In other words, our society faces an unprecedented lack of leadership. Provided all those shortcomings, the study imagines the potential repercussions, especially in the context of management, of implementing a blockchain infrastructure in any type of organisation. Indeed, the blockchain technology seems to be able to remedy to those issues, for this distributed and immutable ledger provides security, decentralisation and transparency. In the context of a blockchain economy, the findings show that value creation will be rearranged, with experts directly collaborating with each others, and hierarchy being eliminated. This could, in turn, render managers obsolete, as a blockchain infrastructure will automate most of the tasks. As a result, only a strong, action-oriented, leadership would maintain the organisation together. This leadership-in-action would consist in igniting people to take action; coach members of the organisations so that their contribution makes sense in the greater context of life

Sustainable Development Report: Blockchain, the Web3 & the SDGs

This is an output paper of the applied research that was conducted between July 2018 - October 2019 funded by the Austrian Development Agency (ADA) and conducted by the Research Institute for Cryptoeconomics at the Vienna University of Economics and Business and RCE Vienna (Regional Centre of Expertise on Education for Sustainable Development).Series: Working Paper Series / Institute for Cryptoeconomics / Interdisciplinary Researc