The Tales of Alphanumerical Symbols in Media: The Case of Bitcoin

Abstract

Bitcoin, a decentralized cryptocurrency, has not only given rise to a wave of digital innovations but also stirred up considerable controversy. Some have hailed it as the most significant innovation since the Internet, while others have dismissed it as a Ponzi scheme that should be abandoned and forbidden. Regardless of these varying views, this is an innovation in need of scrutiny. In this paper we present a metastory of Bitcoin, based on an interpretative study of 737 news articles between 2011–2019. Through our analysis, we identified five narratives, including The Dark Side, The Bright Side, The Tulip Mania, The Idea, and The Normality. Our analysis demonstrates the interpretive flexibility of technology as influenced by ideologies, and we construct a theoretical model demonstrating media’s role as constructor and conduit. The metastory provides an institutional look at the broader interpretations of digital innovations as well as the multifaceted nature of digital innovations and how their interpretation evolve over time.

An Optimized Method for Information System Transactions Based on Blockchain

“…At present, there are three main types of solutions to the blockchain fork problem. (1) Through the consensus algorithm [10][11][12][13][14][15][16][17][18][19], the system finally converges to a stable state with only one blockchain branch after the fork occurs, but this method does not reduce the probability of forking; (2) By specifying a special node to be responsible for the whole process of transaction and block verification and confirmation [20][21][22][23][24], or adding synchronization restrictions to increase the global scope of transaction and block verification and confirmation operations orderly [25], thereby avoiding the occurrence of forks, but reducing the decentralization characteristics of the blockchain network, and the additional synchronization limit will lead to a large synchronization overhead; (3) To reduce the likelihood of splits, optimize the blockchain network's transaction and block propagation algorithms. The study on lowering the likelihood of forks in blockchain networks by improving block and transaction propagation methods falls into three categories: optimizing blockchain network structure, propagation behaviour of a single node, and pipelining the propagation process.…”

A Framing Contest Between Institutional Actors on Crypto-Asset Policymaking in the EU

“…Current research lacks the institutional context from which the technology emerges (Hedman et al, 2021) and hence, technology contextualization must be recognized as part of the wider socioeconomic and political landscape (Currie, 2009). Drawing on institutional theory (in particular institutional work) and framing analysis (the diagnostic, prognostic, motivational functions, and framing mechanisms), this study investigates the process of meaning construction, contestation and stabilization between institutional actors from the organizational field of crypto-assets and policymakers in the policymaking process leading up to MiCA.…”