Decentralized finance to hybrid finance through blockchain: a case-study of acala and current

Anoop, V. S.; Goldston, Justin

doi:10.1007/s42786-022-00041-0

Cited by 11 publications

(3 citation statements)

References 19 publications

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“…As an emerging technology, blockchain applications are being explored in various industries, including healthcare [14][15][16][17], finance [18,19], real estate [20,21], agriculture [22,23], and education [24,25]. Blockchain implementation is ideal for communication networks, thanks to new improvements in blockchain technology such as decentralization, immutability, security, and transparency.…”

Section: Wireless Communications and Mobile Computingmentioning

confidence: 99%

Authenticated Wireless Links between a Drone and Sensors Using a Blockchain: Case of Smart Farming

Alqarni

Almalki

Soufiene

et al. 2022

Wireless Communications and Mobile Computing

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Agriculture is confronted with several significant difficulties, such as rising air temperatures and population growth, causing the implementation of smart farming operations as an optimum solution. This research aims to contribute to the growing knowledge of the potential role of blockchain technology in promoting the concept of smart farming by enhancing the efficiency of farming operations by boosting agricultural production, lowering environmental impact, and automating the work of farmers. It proposes a secure blockchain-based framework to establish trust among smart farming users. The framework utilizes asymmetric key exchange mechanism using an ECC authentication algorithm and SHA-256 hash function cryptography to secure communication between sensors and drones in the farm field. The SHA-256 hashing function ensures data integrity as attempts to tamper with data result in a different hash value, breaking the chain of blocks. To demonstrate the feasibility of the proposed framework, a proof-of-concept implementation was developed on the Ethereum blockchain, in which smart contracts were used to model the framework operations. The proof of concept’s performance was examined using Hyperledger Caliper for latency, throughput, and transaction success rate. The findings clearly indicate that blockchain technology can provide an efficient and scalable mechanism to advance smart farming and address some of the barriers that inhibit smart farming, particularly regarding to data integrity and availability.

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Section: Wireless Communications and Mobile Computingmentioning

confidence: 99%

Authenticated Wireless Links between a Drone and Sensors Using a Blockchain: Case of Smart Farming

Alqarni

Almalki

Soufiene

et al. 2022

Wireless Communications and Mobile Computing

View full text Add to dashboard Cite

show abstract

“…Blockchain is similar to a ledger of records of transactions by ensuring at the same time that the recorded data are safe and transparent. Decentralized Finance is a system that does not rely on central authorities to control or monitor transactions [1]. Even though decentralized finance, unlike traditional financial systems, is not monitored or controlled by central authorities, its transparency and control are attributed to the integrity-protected blockchain and the higher yield that traded financial assets offer compared to Centralized Finance assets [19].…”

Section: Introductionmentioning

confidence: 99%

Decentralized Finance

2023

IJANSER

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Decentralized Finance is a segment of finance that enables financial transactions by the execution of smart contacts, without the intermediation of financial institutions and central authorities. It uses innovative technology to ensure the necessary transparency and autonomy of all the participants and potential investors. Even though DeFi is in its early stages, based on the increasing market size and high return yield of the assets, it is expected to contribute to a more innovative financial economy and the development of traditional finance as well. Through theoretical analysis of the existing literature and information, this study investigates the importance of Decentralized Finance, its advantages, and disadvantages, the associated risks that arise from decentralization, and the lack of central authorities. Decentralized Finance has several advantages, including interoperability, borderless, openness, transparency, innovation, decentralization, efficiency, and so forth. Because of its nature, DeFi has several disadvantages and risks as well, such as high volatility, stablecoin run, unstoppability, irreversibility, lack of transparency, pseudonymity, and the risk of money laundering. As the growth of DeFi is mainly related to innovative and information technology, it is expected that its fast-growing trend will continue in the future as well. Considering the limited research in Decentralized Finance, this study contributes to enriching the related literature.

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“…Together, these two forms of digital assets largely contribute to an individual's ability to participate in the Web3 movement. Indeed, dApps use smart contracts (i.e., programs stored on a blockchain that run when predetermined conditions are met) to facilitate peer-to-peer transactions, which necessitate Web3 users to utilize encrypted wallets to send and receive tokens (Anoop & Goldston, 2022). As such, through tokenized participation in the Web3 ecosystem, users naturally acquire a digital identity -a reflection of their digital assets -which, as research on digital identity suggests, they may begin to personally identify with (Papainnou et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

On the Existential Basis of Self-Sovereign Identity and Soulbound Tokens: An Examination of the “Self” in the Age of Web3

2022

JSIS

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The blockchain social movement led to the emergence of Web3, a new, token-orchestrated iteration of the World Wide Web comprised of decentralized applications. With Web3, users can adopt a unique digital identity, known as a self-sovereign identity, that allows them to have access to their data and be central administrators of their transportable and interoperable identity. An inherent feature of digital identity in Web3 is that, in some cases, it can live forever. Web3 users, therefore, may accumulate digital assets, such as non-fungible tokens, in an attempt to leave a digital legacy behind. Terror-management theory, a social and evolutionary psychology theory, was theoretically applied to the act of digital asset accumulation as a potential mechanism of escaping death-related fears. In contrast, the current uses of non-fungible tokens (i.e., proof-of-ownership) and soulbound tokens (i.e., proof-of-character) were evaluated from a Logotherapy perspective to inform how Web3 could evolve toward a Decentralized Society.

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Decentralized finance to hybrid finance through blockchain: a case-study of acala and current

Cited by 11 publications

References 19 publications

Authenticated Wireless Links between a Drone and Sensors Using a Blockchain: Case of Smart Farming

Authenticated Wireless Links between a Drone and Sensors Using a Blockchain: Case of Smart Farming

Decentralized Finance

On the Existential Basis of Self-Sovereign Identity and Soulbound Tokens: An Examination of the “Self” in the Age of Web3

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