Tracing Transactions Across Cryptocurrency Ledgers

One of the defining features of a cryptocurrency is that its ledger, containing all transactions that have evertaken place, is globally visible. As one consequenceof this degree of transparency, a long line of recent re-search has demonstrated that even in cryptocurrenciesthat are specifically designed to improve anonymity it is often possible to track money as it changes hands,and in some cases to de-anonymize users entirely. With the recent proliferation of alternative cryptocurrencies, however, it becomes relevant to ask not only whether ornot money can be traced as it moves within the ledgerof a single cryptocurrency, but if it can in fact be tracedas it moves across ledgers. This is especially pertinent given the rise in popularity of automated trading platforms such as ShapeShift, which make it effortless to carry out such cross-currency trades. In this paper, weuse data scraped from ShapeShift over a thirteen-monthperiod and the data from eight different blockchains to explore this question. Beyond developing new heuristics and creating new types of links across cryptocurrency ledgers, we also identify various patterns of cross-currency trades and of the general usage of these platforms, with the ultimate goal of understanding whetherthey serve a criminal or a profit-driven agenda.Comment: 14 pages, 13 tables, 6 figure

Modernizing the Stockholder Shield: How Blockchains and Distributed Ledgers Could Rescue the Appraisal Remedy

A recent wave of appraisal litigation has highlighted costly flaws in Delaware’s appraisal law. The genesis of the problems stems from dilapidated assumptions about stock ownership and corporate record keeping baked into the Delaware General Corporation Law. Technological advancements, namely distributed ledgers and blockchain technology, promise to bring Delaware’s appraisal law into the twenty-first century while remaining consistent with existing appraisal law. Distributed ledgers and blockchain technology promise lightning fast clearing times, infallible record keeping, and cost-efficient modes of transfer. States, private actors, and laypersons are already recognizing the litany of benefits offered by these technologies. This Note explores the flaws in the current appraisal system, discusses the benefits offered by distributed ledgers and blockchain technology, and demonstrates how blockchain technology can modernize not only corporate record keeping but appraisal litigation as well

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

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

Blocks\u27 Network: Redesign Architecture based on Blockchain Technology

The Internet is a global network that uses communication protocols. It is considered the most important system reached by humanity, which no one can abandon. However, this technology has become a weapon that threatens the privacy of users, especially in the client-server model, where data is stored and managed privately. Additionally, users have no power over their data that store in a private server, which means users’ data may interrupt by government or might be sold via service provider for-profit purposes. Furthermore, blockchain is a technology that we can rely on to solve issues related to client-server model if appropriately used. However, blockchain technology uses consensus protocol, which is used for creating an incontrovertible system of agreement between members across a distributed network. Thus, the consensus protocol is used to slow all member down from generating too fast in order to control the network creation pattern, which leads to scalability and latency problems. The proposed system will present a platform that leverages modernize blockchain called Blocks’ Network. The system is taking into consideration the issues related to privacy and confidentiality from the client-side model, and scalability and latency issues from the blockchain technology side. Blocks’ network is a public and a permissioned network that use a multi-dimensional hash to generate multiple chains for the purpose of a systematic approach. The proposed platform is an assembly point for users to create a decentralized network using P2P protocols. The system has high data flow due to frequent use by participants (for example, the use of the Internet). Besides, the system will store all traffic of the network overtly via Blocks’ Network

Investigating transactions in cryptocurrencies

This thesis presents techniques to investigate transactions in uncharted cryptocur- rencies and services. Cryptocurrencies are used to securely send payments on- line. Payments via the first cryptocurrency, Bitcoin, use pseudonymous addresses that have limited privacy and anonymity guarantees. Research has shown that this pseudonymity can be broken, allowing users to be tracked using clustering and tag- ging heuristics. Such tracking allows crimes to be investigated. If a user has coins stolen, investigators can track addresses to identify the destination of the coins. This, combined with an explosion in the popularity of blockchain, has led to a vast increase in new coins and services. These offer new features ranging from coins focused on increased anonymity to scams shrouded as smart contracts. In this study, we investigated the extent to which transaction privacy has improved and whether users can still be tracked in these new ecosystems. We began by analysing the privacy-focused coin Zcash, a Bitcoin-forked cryptocurrency, that is consid- ered to have strong anonymity properties due to its background in cryptographic research. We revealed that the user anonymity set can be considerably reduced using heuristics based on usage patterns. Next, we analysed cross-chain transac- tions collected from the exchange ShapeShift, revealing that users can be tracked as they move across different ledgers. Finally, we present a measurement study on the smart-contract pyramid scheme Forsage, a scam that cycled $267 million USD (of Ethereum) within its first year, showing that at least 88% of the participants in the scheme suffered a loss. The significance of this study is the revelation that users can be tracked in newer cryptocurrencies and services by using our new heuristics, which informs those conducting investigations and developing these technologies

Blockchain, AI and IoT to Improve Governance, Financial Management and Control of Crisis: Case Study COVID-19

Today, the coronavirus infection COVID-2019 deals a devastating blow to the economies of most countries due to disruption of production chains, bankruptcy of small and medium-sized businesses, increasing the number of unemployed and more. Under these conditions, the coverage of digitalization of all sectors of the economy and basic spheres of life of citizens becomes especially important

Block Chain Technology in Digital Accounting

The manual system of business process has been restricted by the Nobel Covid-19, and people have begun to work digitally. Block chain technology cannot be ignored when it comes to digitalization. Cryptocurrency and digitalization have grown far more rapidly than any other industry, and this technology is at the heart of it. Especially in the accounting field, this technology could have a major impact. It is possible that block chain technology could transform accounting from a two-entry system to a three-entry system.. As a result of this accounting fundamental need, it becomes imperative to maintain and update financial records. The transactions are recorded in real time, with full accuracy and reliability, and once the transaction is completed, it cannot be changed