On the Philosophy of Bitcoin/Blockchain Technology: Is it a Chaotic, Complex System?

Santos, Renato P. dos

doi:10.1111/meta.12266

Cited by 39 publications

(16 citation statements)

References 13 publications

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“…Blockchains are certainly not an ecological system but a communications system and, as such, are an evolutionary one. However, some authors sustain that blockchains are not complex systems [12] while others [13] argue they are because are often used to orchestrate ecological systems, as proven by the multiple blockchain applications developed by Communities for Communities we can already find.…”

Section: Disruptive Policies Made Possible With Tokenisation: the Example Of The Ars Local Cryptocurrencymentioning

confidence: 99%

“…Blockchain Liquid Democracy can help cities become more decentralised and city planners and policymakers should plan for the introduction of those instruments to build a truly participatory democratic society. In previous sections, we learned that the Disruptive behaviour of blockchains is due to their complex system nature [12] and that their Distributed nature is because blockchains are infinite state machines [17]. When it comes to Decentralisation, we will learn that the lack of a central authority and its replacement by a blockchain-based democratic organisation is possible because of their embedded notational combinatory logic [21].…”

Section: People's-delegated Regulations Can Be Achieved With Governance Ran As a Decentralised Organisation: The Parliamentarian Proof Ofmentioning

confidence: 99%

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Cryptourbanomics: A Method to Boost Urban Sustainability with Blockchain Technology

Marsal-Llacuna¹

2021

Sustainability

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Cryptourbanomics puts forward the idea that there are forces and capital in our society that cannot be dismissed or neglected but that the System (understood as the Establishment or Status-quo) has failed to acknowledge or been unable to address. These social forces have strong ideological, cultural, or identity components, sometimes related to an unrealized Right to the City (Lefèvre, 1968). The social capital behind those forces are often citizens who gave up—the so-called drop-outs because they lost their faith in the System and prefer living in their own world. Blockchain is the technology that empowers these unheard social forces and capital. However, blockchain will remain as an Anti-System technology until it finds a fit within the Establishment until the Status-quo acknowledges and ushers it. Cryptourbanomics is a novel method that brings into the blockchain those societal challenges that the System leaves unsolved. And because today’s societal challenges mostly take place in urban environments, the Cryptourbanomics method focuses on the overall urban sustainability and analyses them with a blockchain lens. The Cryptourbanomics method includes an array of blockchain tools to tackle legacy societal challenges yet unsolved by the System with a more decentralised, distributed, transparent and neutral approach. This paper shows how the Cryptourbanomics method can help deliver on Urban Sustainability by shifting powers, from the Establishment to Communities, and it showcases this with a use case within the Right to the City, that is the Right to Work.

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Section: Disruptive Policies Made Possible With Tokenisation: the Example Of The Ars Local Cryptocurrencymentioning

confidence: 99%

Section: People's-delegated Regulations Can Be Achieved With Governance Ran As a Decentralised Organisation: The Parliamentarian Proof Ofmentioning

confidence: 99%

Cryptourbanomics: A Method to Boost Urban Sustainability with Blockchain Technology

Marsal-Llacuna¹

2021

Sustainability

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“…This solution can be implemented on lightweight devices such as the Internet of Things (IoT) devices. Some of the features that define chaotic systems, according to [46], are complexity, non-linearity, emergence, and hierarchal growth. Table 3 below describes how blockchain technology compares to those chaotic system properties.…”

Section: B Security Analysismentioning

confidence: 99%

Blockchain for COVID-19: Review, Opportunities and a Trusted Tracking System

Marbouh¹,

Abbasi²,

Maasmi³

et al. 2020

Preprint

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<p>The sudden development of the COVID-19 pandemic exposed the limitations in modern healthcare systems to handle public health emergencies. It is evident that adopting innovative technologies such as blockchain can help in effective planning operations and resource deployments. Blockchain technology can play an important role in the healthcare sector such as improved clinical trial data management by reducing delays in regulatory approvals, streamline the communication between diverse stakeholders of the supply chain etc. Moreover, the spread of misinformation has intensely increased during the outbreak and existing platforms lack the ability to validate the authenticity of data, causing people to panic and act irrationally. Thus, developing a blockchain-based tracking system is important to ensure that the information received by the public and government agencies are reliable and trustworthy. In this paper, we focus on blockchain abilities to track the COVID-19 data collected from various sources including news, healthcare professionals, researchers etc, verify and append them in a secure and trusted distributed ledger. Thus, we propose a generic framework using Ethereum smart contracts and oracles to track real-time data related to the number of new cases, deaths and recovered cases obtained from trusted sources. We present detailed algorithms that capture the interactions between stakeholders in the network. The smart contract code was developed and tested in Remix environment. We present the cost and security analysis incurred by the stakeholders and highlight the challenges and future directions of our work. Our work demonstrates that the proposed solution is economically feasible and ensures data integrity, security, transparency, data traceability among stakeholders. </p>

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“…There are alternate views on Bitcoin regarding its chaoticity and its complexity. Santos [39] claims that bitcoin can neither be regarded as a complex system nor exhibits chaotic features. Pilkington [40] also studied bitcoin through the perspective of complexity theory.…”

Section: Literature Reviewmentioning

confidence: 99%

Seeking a Chaotic Order in the Cryptocurrency Market

Günay¹,

Kaşkaloğlu²

2019

MCA

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In this study, we investigate the existence of chaos in the global cryptocurrency market. Specifically, we analyze parameters of chaotic order, nonlinearity, sensitivity to the initial conditions, monofractality, and multifractality. For this purpose, we conduct a comprehensive series of tests, including Brock-Dechert-Scheinkman (BDS) test, largest Lyapunov exponent, box-counting, and monogram analysis for fractal dimension, and multiple tests for long-range dependence (Aggregated Variances, Peng, Higuchi, R/S Analysis, and Multifractal Detrended Fluctuation Analysis (MFDFA)). All tests are performed over a variety of major cryptocurrencies: Bitcoin, Litecoin, Ethereum, and Ripple. The empirical results support the existence of chaos in the cryptocurrency market. Accordingly, cryptocurrency returns are not random and follow a chaotic order. Therefore, long term predictions are not possible, contrary to most of the discussions ongoing in the media and the public.

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On the Philosophy of Bitcoin/Blockchain Technology: Is it a Chaotic, Complex System?

Cited by 39 publications

References 13 publications

Cryptourbanomics: A Method to Boost Urban Sustainability with Blockchain Technology

Cryptourbanomics: A Method to Boost Urban Sustainability with Blockchain Technology

Blockchain for COVID-19: Review, Opportunities and a Trusted Tracking System

Seeking a Chaotic Order in the Cryptocurrency Market

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