HOW BLOCKCHAIN FACILITATES SMART CITY APPLICATIONS– DEVELOPMENT OF A MULTI-LAYER TAXONOMY

A decade after Sathosi Nakamoto published his famous whitepaper, blockchain technology (BT) has started to become widely recognized and used beyond the cryptocurrency Bitcoin. While the financial sector is the most prominent adopter of the technology, numerous other fields of application for the ground-breaking innovation are discussed by researchers and practitioners alike. One key area in which blockchain-based applications are expected to drive radical and disruptive innovation is smart cities. BT provides unique benefits which smart cities can leverage to improve quality of life, adminis-trative processes, and environmental sustainability. However, due to the entrepreneurial dynamics and abundant fields of application for BT in smart cities, an integrated and boundary-spanning analysis is lacking. Thus, our paper aims at analysing how BT is used in different smart city business models to present a multi-layer taxonomy. For this purpose, we identified a global sample of 80 startups which offer products or services for smart cities and examined their business models. The paper explores economic and technological characteristics of blockchain based smart city applications. These unique insights will be useful for researchers, practitioners, and regulators

FinTech, blockchain and Islamic finance : an extensive literature review

Purpose: The paper aims to review the academic research work done in the area of Islamic financial technology. The Islamic FinTech area has been classified into three broad categories of the Islamic FinTech, Islamic Financial technology opportunities and challenges, Cryptocurrency/Blockchain sharia compliance and law/regulation. Finally, the study identifies and highlights the opportunities and challenges that Islamic Financial institutions can learn from the conventional FinTech organization across the world. Approach/Methodology/Design: The study collected 133 research studies (50 from Social Science Research Network (SSRN), 30 from Research gate, 33 from Google Scholar and 20 from other sources) in the area of Islamic Financial Technology. The study presents the systematic review of the above studies. Findings: The study classifies the Islamic FinTech into three broad categories namely, Islamic FinTech opportunities and challenges, Cryptocurrency/Blockchain sharia compliance and law/regulation. The study identifies that the sharia compliance related to the cryptocurrency/Blockchain is the biggest challenge which Islamic FinTech organizations are facing. During our review we also find that Islamic FinTech organizations are to be considered as partners by the Islamic Financial Institutions (IFI’s) than the competitors. If Islamic Financial institutions want to increase efficiency, transparency and customer satisfaction they have to adopt FinTech and become partners with the FinTech companies. Practical Implications: The study will contribute positively to the understanding of Islamic Fintech for the academia, industry, regulators, investors and other FinTech users. Originality/Value: The study believes to contribute positively to understanding of Fintech based technology like cryptocurrency/Blockchain from sharia perspective.peer-reviewe

What determines FinTech success? — A taxonomy-based analysis of FinTech success factors

Value creation in the financial services sector has been fundamentally transformed by digitally born financial technology (FinTech) companies. FinTech companies synthesize information systems with financial services. Given its disruptive power, the FinTech phenomenon has received great attention in academic research, practice, and media. Still, limited systematic research provides a structure and holistic view of FinTechs’ success. Aiming to enhance understanding of the factors enabling FinTech success, we classify success factors across extant scientific literature on distinct FinTech business model archetypes. Our analysis reveals that the “cost–benefit dynamic of the innovation,” “technology adoption,” “security, privacy, and transparency,” “user trust,” “user-perceived quality,” and “industry rivalry” are crucial factors for FinTech success and can be seen as “grand challenges” for the FinTech ecosystem. In addition, we validate and discuss our findings with real-world examples from the FinTech industry and two interviews with stakeholders from the FinTech ecosystem. Our study contributes to the knowledge of FinTechs by providing a classification system of success factors for practitioners and researchers

Four Shades of Customer: How Value Flows in Fintech Ecosystems

The financial sector is undergoing a massive transformation, with new technology-driven players challenging established mechanisms and transforming the sector into a fast-moving market. With the gradual transition from a scale economy to a platform-driven network economy, enterprise networks are gaining strategic importance. Despite the growing interest in fintech’s, research has so far lacked a conceptualization of value creation in fintech ecosystems. Therefore, this research paper aims to analyze key players, value creation activities, and value streams based on the analysis of the business models of payment services, personal financial management, robo-advisory, peer-to-peer lending, trading, and cryptocurrency. We present a holistic value network for the fintech ecosystem based on structured literature review and analysis of 171 fintech companies. We were able to show that fintech platform orchestrates multiple market sides and that customers take four distinct roles at the center of the ecosystem when using fintech services

A taxonomy for Decentralized Finance

Decentralized Finance (‘DeFi’) has gained tremendous momentum over the past three years by using novel approaches to disintermediating financial institutions in the provision of financial services. However, empirical research in this field is still rare and a more comprehensive understanding of the domain is a missing component in academic research. This paper develops a taxonomy based on a comprehensive literature analysis to structure this emerging field systematically. The application of the taxonomy to 278 DeFi start-ups reveals that most of the DeFi start-ups focus on Ethereum (36.3%) and have a focus on analytics and automation (52%), while only a few incorporate decentralized governance approaches (3.3%), provide decentralized exchanges (14%) or integrate off-chain data

A taxonomy for decentralized finance

Decentralized Finance (‘DeFi’) has gained tremendous momentum over the past three years by using novel approaches to disintermediating financial institutions in the provision of financial services. However, empirical research in this field is still rare, and a more comprehensive understanding of the domain is a missing component in academic research. This paper develops a taxonomy based on a comprehensive literature analysis to structure this emerging field systematically. The taxonomy includes three perspectives (strategy, organization, technology) and seven dimensions (blockchain, value proposition, token type, business process, price mechanism, protocol type, integration type) as well as thirty-six characteristics. The application of the taxonomy to 278 DeFi start-ups reveals that most of the DeFi start-ups focus on Ethereum (36.3%) and have a focus on analytics and automation (52%), while, surprisingly only a few incorporate decentralized governance approaches (3.3%), provide decentralized exchanges (14%) or integrate off-chain data

From Inactivity to Full Enforcement: The Implementation of the Do No Harm Approach in Initial Coin Offerings

This Article analyzes the way the Securities and Exchange Commission (“SEC”) has enforced securities laws with regard to Initial Coin Offerings (“ICOs”). In a speech held in 2016, the U.S. Commodities Futures Trading Commission (“CFTC”) Chairman Christopher Giancarlo emphasized the similarities between the advent of the blockchain technology and the Internet era. He offered the “do no harm” approach as the best way to regulate blockchain technology. The Clinton administration implemented the “do no harm” approach at the beginning of the Internet Era in the 1990s when regulators sought to support technological innovations without stifling them with burdensome rules. This Article suggests that the SEC adopted a “do no harm approach” and successfully pursued two of its fundamental institutional goals when enforcing securities laws in the context of ICOs: investor protection and preservation of capital formation. After providing a brief description of the basics of ICOs and the way they have evolved in the last two years, this Article examines the transition into a new phase of full enforcement action implemented by the SEC. This shift from inactivity to enforcement was gradual, characterized by clearly identifiable steps. Data on ICOs demonstrates that this rigorous enforcement of securities laws has not damaged the industry in the United States and may suggest that entrepreneurs have adapted to this enforcement approach. By contrast, a lack of enforcement would have probably increased uncertainty to the detriment of investors and entrepreneurs and put the UNITED STATES at a disadvantage in the international arena. Furthermore, this paper emphasizes the importance of pursuing specific goals in the short-to-medium term, particularly in order to make securities regulation uniform and avoid differences at the state and federal levels, as well as to encourage industry authorities such as Self-Regulatory Organizations (SROs) to develop high standards for self-regulation

Agile Processes in Software Engineering and Extreme Programming – Workshops

This open access book constitutes papers from the 5 research workshops, the poster presentations, as well as two panel discussions which were presented at XP 2021, the 22nd International Conference on Agile Software Development, which was held online during June 14-18, 2021. XP is the premier agile software development conference combining research and practice. It is a unique forum where agile researchers, practitioners, thought leaders, coaches, and trainers get together to present and discuss their most recent innovations, research results, experiences, concerns, challenges, and trends. XP conferences provide an informal environment to learn and trigger discussions and welcome both people new to agile and seasoned agile practitioners. The 18 papers included in this volume were carefully reviewed and selected from overall 37 submissions. They stem from the following workshops: 3rd International Workshop on Agile Transformation 9th International Workshop on Large-Scale Agile Development 1st International Workshop on Agile Sustainability 4th International Workshop on Software-Intensive Business 2nd International Workshop on Agility with Microservices Programmin

The future of fintech — Towards ubiquitous financial services

editorial reviewedU-AGR-7503 - NCER22/IS/16570468/NCER-FT_CryptoReg_UL (01/06/2023 - 31/05/2025) - FRIDGEN Gilbert9. Industry, innovation and infrastructur