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The Advantages and Disadvantages of Bitcoin Payments in the New Economy Carina-Elena Stegăroiu, Lecturer Phd, „Constantin Br
Annals of the „Constantin Brâncuşi” University of Târgu Jiu, Economy Series, Issue 1/2018 THE ADVANTAGES AND DISADVANTAGES OF BITCOIN PAYMENTS IN THE NEW ECONOMY CARINA-ELENA STEGĂROIU, LECTURER PHD, „CONSTANTIN BRÂNCUŞI” UNIVERSITY, TÂRGU JIU, ROMANIA [email protected] Abstract In the Internet economy, with the help of cryptography, a branch of mathematics dealing with the security of information, as well as authentication and restriction of access to a computer system, a new digital coin as an alternative to national currencies appeared. In accomplishing this, using both mathematical methods (taking advantage of, for example, the difficulty of factorizing very large numbers), and quantum encryption methods. Throughout the world, information technology companies are focusing on information protection, inventing day-to-day methods with greater durability. In the horizon of Information Security, Quantum Cryptography has emerged, generating new possibilities in that field, hoping that data will be better protected and that the digital currency will resist over time and eventually evolve in the future, although Kurzweil, Bitcoin's pioneering technology is unlikely to be used in this respect. The idea of virtual alternatives to national currencies is not new, with advantages and disadvantages. The advantages of this coin are high payment freedom, transparency of information, high security, reduced risks for traders. Among the disadvantages we highlight the risk and volatility, the lack of notification and understanding, with incomplete functions, but which are developing, so Bitcoin is not perfect. Keywords: bitcoin, criptografie, methodology, economic growth, economic agent, branch production, virtual economy, monedă digitală Classification JEL: F60, F61. F62, F63 1. Introduction The idea of virtual alternatives to national currencies is not a new one, Iceland being a country that in April issued its own virtual modular Auroracoin, distributing it to the population. -
Annual Report
Year in Review 2016 - 2017 Table of Contents 1.................................................................................About CRCS 2............................................................................Director’s Letter 3..........................................................................................Faculty 6.........................................................................................Fellows 10..........................................................Bi-Weekly Seminar Series 14............................................................................Special Events 17...............................................................Collaborative Research 19........................................................................................Awards 20................................................................................Publications 22............................................................................Looking Ahead The Center for Research on Computation and Society (CRCS) at the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) is a multidisciplinary organization that brings together computer scientists and scholars from a broad range of fields to make advances in computational research that serves public interest. We are engaged in interdisciplinary projects in areas such as Economics & Computer Science; Healthcare Informatics; Privacy & Security; Technology & Accessibility; and Automation & Reproducibility of Data Analysis. CRCS is informed by a deep knowledge -
Towards a Decentralized Process for Scientific Publication and Peer
Proceedings of the 52nd Hawaii International Conference on System Sciences | 2019 Towards a Decentralized Process for Scientific Publication and Peer Review using Blockchain and IPFS Antonio Tenorio-Fornes´ Viktor Jacynycz David Llop Antonio A. Sanchez-Ruiz´ Samer Hassan GRASIA, Universidad GRASIA, Universidad GRASIA, Universidad GAIA, Universidad GRASIA, Universidad Complutense de Madrid Complutense de Madrid Complutense de Madrid Complutense de Madrid Complutense de Madrid [email protected] [email protected] [email protected] [email protected] Berkman Klein Center at Harvard University [email protected] Abstract It is acknowledged that the Open Access and Open Science movements have successfully reduced the The current processes of scientific publication and economic cost of readers to access knowledge [10]. peer review raise concerns around fairness, quality, However it has not successfully challenged traditional performance, cost, and accuracy. The Open Access publishers’ business models [11] that are often charging movement has been unable to fulfill all its promises, and both readers and authors [12]. a few middlemen publishers can still impose policies Traditional peer review has suffered multiple and concentrate profits. This paper, using emerging criticisms, and yet only few alternatives have gathered distributed technologies such as Blockchain and IPFS, success [13]. The literature provides multiple proposals proposes a decentralized publication system for open around open peer review [14], and proposals of science. The proposed system would provide (1) a reputation networks for reviewers [15]. In fact, a distributed reviewer reputation system, (2) an Open start-up, Publons1, provides a platform to acknowledge Access by-design infrastructure, and (3) transparent reviews and open them up. -
Virtual Currencies – Key Definitions and Potential Aml/Cft Risks
FATF REPORT Virtual Currencies Key Definitions and Potential AML/CFT Risks June 2014 FINANCIAL ACTION TASK FORCE The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard. For more information about the FATF, please visit the website: www.fatf-gafi.org © 2014 FATF/OECD. All rights reserved. No reproduction or translation of this publication may be made without prior written permission. Applications for such permission, for all or part of this publication, should be made to the FATF Secretariat, 2 rue André Pascal 75775 Paris Cedex 16, France (fax: +33 1 44 30 61 37 or e-mail: [email protected]). Photocredits coverphoto: ©Thinkstock VIRTUAL CURRENCIES – KEY DEFINITIONS AND POTENTIAL AML/CFT RISKS CONTENTS INTRODUCTION ................................................................................................................................... 3 KEY DEFINITIONS: ................................................................................................................................ 3 Virtual Currency .................................................................................................................................... 4 Convertible Versus Non-Convertible Virtual Currency ........................................................................ -
The Top 20 Cryptocurrencies Report
THE TOP 20 CRYPTOCURRENCIES CEO REPORT 2 / 2018 3 Bit Lab, Blockchain, Bitcoin & Bankinsurance è un circolo di co-marketing fondato da Conio, Eurovita e Innova et Bella, dedicato all’analisi, alla ricerca e allo sviluppo di soluzioni di disruptive innovation in ambito fintech, insurtech, blockchain e valute digitali. La partecipazione è aperta a istituzioni e organizzazioni pubbliche e private, imprese industriali, di servizi e finanziarie, banche e assicurazioni. Dieci anni dopo la nascita del Bitcoin, valuta sviluppata nel 2008 da Satoshi Nakamoto, circolano oggi oltre 1.000 criptovalute. Il Report “The Top 20” presenta mensilmente al Top Management di banche e assicurazioni, per le 20 criptovalute più scambiate nel mondo: • Le Dinamiche di mercato • I Prezzi di mercato • I Volumi di mercato • Le Quote di mercato LE DINAMICHE DI MERCATO • Bitcoin nel mese di febbraio 2018 passa da € 7.508 a € 8.513, con un aumento del 13%. • Ethereum nel mese di febbraio 2018 passa da € 849 a € 700, registrando un calo del 18%. • Tether18.000 nel € mese di febbraio 2018 passa da € 0,808 a € 0,818, con un aumento dell’1,21%. Bitcoin 16.000 € 14.000 € 12.000 € 10.000 € 8.000 € 6.000 € 4.000 € 2.000 € 0 € gen-17 feb-17 mar-17 apr-17 mag-17 giu-17 lug-17 ago-17 set-17 ott-17 nov-17 dic-17 gen-18 feb-18 1.400 € Ethereum 1.200 € 1.000 € 800 € 600 € 400 € 200 € 0 € gen-17 feb-17 mar-17 apr-17 mag-17 giu-17 lug-17 ago-17 set-17 ott-17 nov-17 dic-17 gen-18 feb-18 0,90 € Tether 0,88 € 0,86 € 0,84 € 0,82 € 0,80 € 0,78 € 0,76 € 0,74 € 0,72 € 0,70 € gen-17 feb-17 mar-17 apr-17 mag-17 giu-17 lug-17 ago-17 set-17 ott-17 nov-17 dic-17 gen-18 feb-18 I PREZZI DI MERCATO • Il prezzo di ogni criptovaluta è dato dalla quantità di denaro in euro che è necessaria per comprare un’unità di valuta, ovvero un coin. -
International Journal of Computing and ICT Research, Vol. 11, Issue 2, December 2017
BLOCKCHAIN TECHNOLOGY – ANOTHER WONDER TECHNOLOGY FOR AFRICA? PROF. JOSEPH M. KIZZA, Editor-in-Chief Department of Computer Science and Engineering, The University of Tennessee-Chattanooga, Tennessee, 37403, USA. IJCIR Reference Format: Kizza, Joseph. M. “Blockchain Technology – Another Wonder Technology for Africa?”, Vol. 11, Issue.2 pp 5 - 13. http://www.ijcir.org/volume 11-issue 2/article 1.pdf. INTRODUCTION Blockchain, Bitcoin, Dogabit and other unpronounceable terms are dominating conversation these days across the globe. What do they mean and why are they the talk of the block? What are these words and concepts that have come to excite not only a few people, age groups, a country but all generations, all country and it cuts across the globe, rich and poor countries alike, mean? As we will shortly see, all these terms refer to the same technology- blockchain. Blockchain, was originally block chain, a continuously growing list of records, called blocks, which are linked data blocks and secured using cryptography [1]. In elementary computer science these linked data blocks are called linked lists. In its traditional way, the chain of blocks consists of connected blocks where each block has a hash pointer as a link to a previous block, a timestamp and of course the transaction data. Because each block data hashes into a unique number, blockchains are inherently resistant to modification of the data. Any transaction, between any two or more parties, that uses the data in any of these blocks, according to [2] is in the open, distributed among more than one server, in a peer-to-peer network of servers, uses efficiently verifiable protocols and permanent. -
The Lay of a Virtual Land: Cryptocur- Rencies As Collateral
SELECTED TOPIC “Cryptocurrencies,” digital assets that use under federal tax law, virtual currency will blockchain technology to provide for secu- henceforth be treated as “personal prop- rity and anonymity of transactions, have er t y.” 14 According to this emerging majority, become an inescapable global reality since cryptocurrencies therefore qualify as the introduction of Bitcoin in 2009.1 Their “intangible personal property.”15 popularity has, in turn, raised numerous questions about how to classify such assets II. EVOLVING ISSUES MAY 2019 and perfect security interests in them under A. Collateral Type the Uniform Commercial Code (“UCC”).2 Yet, whether a cryptocurrency functions THE PUBLICATION FOR CREDIT & FINANCE PROFESSIONALS $9.00 As more lenders have reconsidered their solely as a medium of exchange or as initial reluctance to accept cryptocurrency participation in an issuer of property can as collateral,3 commercial lawyers have (and likely will) have a huge impact on been increasingly focused on how best to its classification under the UCC. Article 9 protect clients that lend money secured by focuses exclusively on security interests in a pledge of such assets. Within this unset- “personal property” pledged as collateral tled area, 2018 brought little certainty, but for repayment of a debt.16 “Collateral” is it confirmed the likelihood that the classi- defined as “property subject to a security The Lay of fication of any cryptocurrency will depend interest”;17 such “property” includes “[g] on its unique function. eneral intangible[s],” -
The Expansion of Algorithmic Governance: from Code Is Law to Law Is Code Samer Hassan, Primavera De Filippi
The Expansion of Algorithmic Governance: From Code is Law to Law is Code Samer Hassan, Primavera de Filippi To cite this version: Samer Hassan, Primavera de Filippi. The Expansion of Algorithmic Governance: From Code is Law to Law is Code . Field Actions Science Reports, Institut Veolia, 2017. hal-01700277 HAL Id: hal-01700277 https://hal.archives-ouvertes.fr/hal-01700277 Submitted on 3 Feb 2018 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Field Actions Science Reports The journal of field actions Special Issue 17 | 2017 Artificial Intelligence and Robotics in the City The Expansion of Algorithmic Governance: From Code is Law to Law is Code Samer Hassan and Primavera De Filippi Electronic version URL: http://journals.openedition.org/factsreports/4518 ISSN: 1867-8521 Publisher Institut Veolia Printed version Date of publication: 31 December 2017 Number of pages: 88-90 ISSN: 1867-139X Electronic reference Samer Hassan and Primavera De Filippi, « The Expansion of Algorithmic Governance: From Code is Law to Law is Code », Field Actions Science Reports [Online], Special Issue 17 | 2017, Online since 31 December 2017, connection on 30 January 2018. URL : http://journals.openedition.org/ factsreports/4518 Creative Commons Attribution 3.0 License www.factsreports.org “Code is law” is a form of regulation THE EXPANSION whereby technology is used to enforce existing rules. -
THE WEALTH of the COMMONS: a World Beyond Market and State
THE WEALTH OF THE COMMONS: A World Beyond Market and State Edited by David Bollier and Silke Helfrich The Commons Strategies Group THE WEALTH OF THE COMMONS © David Bollier, Silke Helfrich and Heinrich Böll Foundation, 2012. Levellers Press 71 South Pleasant Street Amherst, MA 01002 All works in this volume except for those previously published and copyrighted (as noted at the end of such chapters) are available under a Creative Commons Attribution-ShareAlike 3.0 License. (See https:// creativecommons.org/licenses/by-sa/3.0/deed.) More information can be found at www.wealthofthecommons.org. Peter Linebaugh, “Enclosures from the Bottom Up,” in Radical History Review, Volume 108, pp. 11–27. Copyright, 2010, MARHO: The Radical Historians Organization, Inc. All rights reserved. Reprinted by permission of the publisher, Duke University Press. www.dukeupress.edu. A German-language version of this book, with minor differences, is available from transcript publisher of Bielefeld, Germany, under the title, Commons: Für eine neue Politik jenseits von Markt und Staat, Silke Helfrich und Heinrich- Böll-Stiftung (Hg.) http://www.transcript-verlag.de/ts2036/ts2036.php. Library of Congress Cataloging-in-Publication Data The Wealth of the Commons: A World Beyond Market and State Edited by David Bollier and Silke Helfrich ISBN 978-1-937146-14-6 319 Move Commons: Labeling, Opening and Connecting Social Initiatives By Javier de la Cueva, Bastien Guerry, Samer Hassan and Vicente J. Ruiz Jurado Here and there we see many initiatives promoting the commons in different fields (free culture, open educational resources, seed banks, “reclaim the city”). However, only a few have reached critical mass and are well known by multiple communities; the majority remain in their social silos and political niches, more or less ignored by the mainstream. -
The Berkman Klein Center for Internet & Society
Annual Report Academic Year 2016–2017 Contents I. Part One: Report of Activities .............................................................................................. 3 A. Summary of Academic Year: 2016–2017 ........................................................................ 3 1. Executive Summary ..................................................................................................... 3 2. Research, Scholarship and Project Activities ............................................................... 5 3. Contributions to HLS Teaching Program .....................................................................63 4. Participation of HLS Students in Program Activities ....................................................65 5. Faculty Participation ....................................................................................................65 6. Other Contributions to the HLS Community ................................................................66 7. Law Reform and Advocacy .........................................................................................66 8. Connections to the Profession ....................................................................................67 Research ...........................................................................................................................67 The Future of Digital Privacy ..............................................................................................67 Executive Education: Digital Security for Directors and Senior Executives -
The Wider Impact of a National Cryptocurrency
Global Policy, June 2018 The Wider Impact of a National Cryptocurrency Dennis Ng and Paul Griffin Singapore Management University Abstract This study looks at the impact of a national cryptocurrency on the payment landscape in the midst of the rise of global public cryptocurrencies and interest from central banks in a possible national cryptocurrency. The impacts are analysed for consumers, merchants, banks, payment providers, international money transfer operators and central banks. The study analyses the pros and cons for each player with an overall impact ranking. There is a particular emphasis on central banks as they hold key regulatory oversight for economic and financial matters affecting a country. Whilst finding that there is an overall benefit, there are also significant risks. A sandbox approach is proposed for specifically mitigating some of the risks of introducing a national cryptocurrency. Policy recommendations • Governments should explore the potential benefits of the technology behind cryptocurrencies because the benefits to payment players is overall positive. • Central banks should consider a crypto-sandbox approach to mitigate the potential risks of issuing a national cryptocurrency. The crypto-sandbox should include payment players and specific testing for special cyber-security attacks and economic changes. • A possible area of immediate benefit from cryptocurrency technology is B2B transfers. Central banks should consider how this technology can benefit funds transfers between banks and companies without the complication that comes with using the technology among consumers at large. • Once more experience and learnings is gained from the sandbox, the technology can then be slowly expanded to the consumer and cross-border markets after a thorough examination and controls have been put in place for possible risks and policy changes. -
Blockchain Technology As a Regulatory Technology from Code Is Law to Law Is Code
Blockchain Technology as a Regulatory Technology From Code is Law to Law is Code Primavera De Filippi1 & Samer Hassan2 1CERSA/CNRS & Berkman Center for Internet and Society, Harvard University 2Universidad Complutense de Madrid & Berkman Center for Internet and Society, Harvard University Abstract: “Code is law” refers to the idea that, with the advent of digital technology, code has progressively established itself as the predominant way to regulate the behavior of Internet users. Yet, while computer code can enforce rules more efficiently than legal code, it also comes with a series of limitations, mostly because it is difficult to transpose the ambiguity and flexibility of legal rules into a formalized language which can be interpreted by a machine. With the advent of blockchain technology and associated smart contracts, code is assuming an even stronger role in regulating people’s interactions over the Internet, as many contractual transactions get transposed into smart contract code. In this paper, we describe the shift from the traditional notion of “code is law” (i.e. code having the effect of law) to the new conception of “law is code” (i.e. law being defined as code). Introduction There are various ways in which law and technology can influence each other. The two interact through a complex system of dependencies and interdependencies, as both contribute (to a greater or lesser extent) to regulate the behavior of individuals. With the advent of modern information and communication technology, the relationship between the two has significantly evolved, as the latter is increasingly used as a complement or a supplement to the former.