Trading Real-World Assets on Blockchain

Notheisen, Benedikt; Cholewa, Jacob B.; Shanmugam, Arun Prasad

doi:10.1007/s12599-017-0499-8

Cited by 177 publications

(86 citation statements)

References 41 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Instead of storing the transactions on a central server, various copies of the data exist across different computers, otherwise known as nodes, that participate in the blockchain (Tschorsch & Scheuermann, 2016). This decentralization enables a distributed governance, with a "consensus mechanism between the participating nodes in the system" (Hyvärinen et al, 2017, p. 445), thus eliminating the need to trust other participants of the system (Egelund-Müller, Elsman, Henglein, & Ross, 2017;Nakamoto, 2008;Notheisen et al, 2017). Blockchains only accept new entries if they obey a predefined protocol and are thus deemed valid (Naerland et al, 2017;Risius & Spohrer, 2017).…”

Section: Blockchain Technologymentioning

confidence: 99%

“…By implementing these three features, a "hybrid architecture" that addresses a central challenge of public permissionless blockchain technology is realized. It is well known that certain public permissionless blockchain technologies have severe technical and economic scalability issues, so that dedicated approaches have to be applied Notheisen et al, 2017;Risius & Spohrer, 2017). More specifically, hybrid architectures that build upon blockchain-based "on-chain" transactions and nonblockchain-based "off-chain" transactions are known to cope with large amounts of data while preserving the key characteristics of distributed blockchain systems (Zyskind, Nathan, & Pentland, 2015).…”

Section: Figure 3 Design Requirements Principles and Featuresmentioning

confidence: 99%

“…Our research has important design implications for SDPSs that address IoTrelated security and privacy challenges (Ayoade et al, 2018;Crossler & Posey, 2017;Liang et al, 2017), specifically with respect to the value proposition of blockchain technology. Blockchain-based SDPSs inherit core characteristics of blockchain technology (Notheisen et al, 2017) and therefore are particularly useful in certain scenarios (see Table 5). While SDPSs are used to protect simple data pipelines, for example, to secure data transfer from sensors to one single intra-organizational system, they are also leveraged in the case of multi-stage data pipelines that cross organizational boundaries and involve a potentially large ecosystem of players, as our prototype case reveals.…”

Section: Design Implicationsmentioning

confidence: 99%

“…The derived design requirements can serve as a basis for future research, for example, investigating how their fulfillment affects the adoption of IoT IS. Furthermore, we base the design principles, in particular, on the theory of information asymmetry, which has been used before as a fruitful basis in the design of IS that enables the reliable exchange of data (e.g., Notheisen et al, 2017). In contrast to the existing SDPS-related literature, we specifically focus on certification as a well-known means of overcoming information asymmetries.…”

Section: Theoretical and Practical Contributionsmentioning

confidence: 99%

“…However, core challenges, such as privacy, scalability, and potentially prohibitive transaction costs, remain to be addressed (Beck, Stenum Czepluch, Lollike, & Malone, 2016;Notheisen, Cholewa, & Shanmugam, 2017;Risius & Spohrer, 2017).…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

"Blockchain for the IoT: Privacy-Preserving Protection of Sensor Data"

Chanson¹,

Bogner²,

Bilgeri³

et al. 2019

JAIS

View full text Add to dashboard Cite

A constantly growing pool of smart, connected Internet of Things (IoT) devices poses completely new challenges for business regarding security and privacy. In fact, the widespread adoption of smart products might depend on the ability of organizations to offer systems that ensure adequate sensor data integrity while guaranteeing sufficient user privacy. In light of these challenges, previous research indicates that blockchain technology may be a promising means to mitigate issues of data security arising in the IoT. Building upon the existing body of knowledge, we propose a design theory, including requirements, design principles, and features, for a blockchain-based sensor data protection system (SDPS) that leverages data certification. We then design and develop an instantiation of an SDPS (CertifiCar) in three iterative cycles that prevents the fraudulent manipulation of car mileage data. Furthermore, we provide an ex-post evaluation of our design theory considering CertifiCar and two additional use cases in the realm of pharmaceutical supply chains and energy microgrids. The evaluation results suggest that the proposed design ensures the tamper-resistant gathering, processing, and exchange of IoT sensor data in a privacy-preserving, scalable, and efficient manner.

show abstract

Section: Blockchain Technologymentioning

confidence: 99%

Section: Figure 3 Design Requirements Principles and Featuresmentioning

confidence: 99%

Section: Design Implicationsmentioning

confidence: 99%

Section: Theoretical and Practical Contributionsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

"Blockchain for the IoT: Privacy-Preserving Protection of Sensor Data"

Chanson¹,

Bogner²,

Bilgeri³

et al. 2019

JAIS

View full text Add to dashboard Cite

show abstract

Trustful data trading through monetizing IoT data using BlockChain based review system

Abubaker

Khan

Almogren

et al. 2021

Concurrency and Computation

View full text Add to dashboard Cite

In this article, Internet of Things (IoTs) devices are used for sensing the data through which the device owners earn revenue. Interested users can purchase data from IoT device owners, according to their demands. However, users are not confident about the quality of data they are purchasing. Moreover, the users do not rely on the device owner and are not willing to initiate data trading. Currently, data trading systems have many drawbacks, as they involve a third party, security and reputation mechanisms. Therefore, in this article, IoTs and BlockChain (BC) are integrated to monetize IoT's data and provide trustful data trading. A BC based review system to monetize IoT's data trading is developed through Ethereum smart contracts. The review system encourages the owners to provide authentic data and solves the issues regarding data integrity, fake reviews and conflicts between entities. Reviews and ratings are stored in the BC database for providing a guarantee about the data quality to users. To maintain data integrity, we use an advanced encryption standard (AES)‐256 encryption technique to encrypt data. Moreover, an arbitrator entity is responsible to resolve conflicts between data owner and users. The incentive is provided to the users and arbitrators to increase user participation and honesty. Simulations are performed for the validation of our system. We examine the proposed model using three parameters: gas consumption, mining time and encryption time.

show abstract

Design and evaluation of a blockchain‐based system for increasing customer engagement in circular economy

Cerchione

2024

Corp Soc Responsibility Env

View full text Add to dashboard Cite

The purpose of this study is to design, develop and evaluate a blockchain platform in the field of circular economy (CE). To achieve this aim, the research demonstrates the feasibility of designing a decentralised architecture and prototyping a distributed system to increase customer engagement in the transition toward CE. Building on previous research and leveraging on the design science research approach, the paper identifies the technical and managerial issues that must be addressed to adopt blockchain as an enabling technology in the CE domain. More in details, starting with the identification of circular sharing economy (CSE) processes, a conceptual framework was designed to evaluate how blockchain implementation has the potential to enhance the role of customers involved in CSE processes. As for the practical implications, the suggested conceptual framework reduces the knowledge gap between blockchain developers and corporate social responsibility specialists. To bridge the gap, it identifies future directions and practical guidelines for designing and implementing blockchain to support the digital and sustainable innovation of more circular firms and supply chains.

show abstract

Trading Real-World Assets on Blockchain

Cited by 177 publications

References 41 publications

"Blockchain for the IoT: Privacy-Preserving Protection of Sensor Data"

"Blockchain for the IoT: Privacy-Preserving Protection of Sensor Data"

Trustful data trading through monetizing IoT data using BlockChain based review system

Design and evaluation of a blockchain‐based system for increasing customer engagement in circular economy

Contact Info

Product

Resources

About