Decentralized Autonomous Organization
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Securing the Chain
Securing the chain KPMG International kpmg.com/blockchain360 Foreword It’s no secret that blockchain1 is a potential game changer in financial services and other industries. This is evident by the US$1B investment2 in the technology last year alone. Or the fact that you don’t have to look very far for blockchain use cases, which are as diverse as a foreign exchange market in financial services to the pork supply chain in consumer retailing. Some even see blockchain as a “foundational” technology set to disrupt, enable and change business processing, as we know it across industries. To date, much of the blockchain frenzy has centered on its vast transformative potential across entire industries. So, organizations have focused squarely on “how” they can use blockchain for business. Yet, as more proof of concepts move toward practical implementations and cyber threats rapidly grow in number and sophistication, security and risk management can no longer take a backseat. In addition to “how”, the question then becomes, “Is blockchain secure for my business?” Simply put, it can be. But, not by just turning the key. Security will depend on a variety of factors, none the least of which requires a robust risk management framework. Consider, for example, that as many as half of vulnerability exploitations occur within 10 to 100 days after they are published according to one study3. Then add in the number of threats that are already known. Next, factor in the plethora of unknowns that accompany emerging technologies and you quickly see why a comprehensive view of your risk and threat landscape is necessary. -
Crypto-Asset Markets: Potential Channels for Future Financial Stability
Crypto-asset markets Potential channels for future financial stability implications 10 October 2018 The Financial Stability Board (FSB) is established to coordinate at the international level the work of national financial authorities and international standard-setting bodies in order to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies. Its mandate is set out in the FSB Charter, which governs the policymaking and related activities of the FSB. These activities, including any decisions reached in their context, shall not be binding or give rise to any legal rights or obligations under the FSB’s Articles of Association. Contacting the Financial Stability Board Sign up for e-mail alerts: www.fsb.org/emailalert Follow the FSB on Twitter: @FinStbBoard E-mail the FSB at: [email protected] Copyright © 2018 Financial Stability Board. Please refer to: www.fsb.org/terms_conditions/ Contents Executive Summary ................................................................................................................... 1 1. Introduction ......................................................................................................................... 3 2. Primary risks in crypto-asset markets ................................................................................. 5 2.1 Market liquidity risks ............................................................................................... 5 2.2 Volatility risks ......................................................................................................... -
Blockchain & Distributed Ledger Technologies
Science, Technology Assessment, SEPTEMBER 2019 and Analytics WHY THIS MATTERS Distributed ledger technology (e.g. blockchain) allows users to carry out digital transactions without the need SCIENCE & TECH SPOTLIGHT: for a centralized authority. It could fundamentally change the way government and industry conduct BLOCKCHAIN & DISTRIBUTED business, but questions remain about how to mitigate fraud, money laundering, and excessive energy use. LEDGER TECHNOLOGIES /// THE TECHNOLOGY What is it? Distributed ledger technologies (DLT) like blockchain are a secure way of conducting and recording transfers of digital assets without the need for a central authority. DLT is “distributed” because multiple participants in a computer network (individuals, businesses, etc.), share and synchronize copies of the ledger. New transactions are added in a manner that is cryptographically secured, permanent, and visible to all participants in near real time. Figure 2. How blockchain, a form of distributed ledger technology, acts as a means of payment for cryptocurrencies. Cryptocurrencies like Bitcoin are a digital representation of value and represent the best-known use case for DLT. The regulatory and legal frameworks surrounding cryptocurrencies remain fragmented across Figure 1. Difference between centralized and distributed ledgers. countries, with some implicitly or explicitly banning them, and others allowing them. How does it work? Distributed ledgers do not need a central, trusted authority because as transactions are added, they are verified using what In addition to cryptocurrencies, there are a number of other efforts is known as a consensus protocol. Blockchain, for example, ensures the underway to make use of DLT. For example, Hyperledger Fabric is ledger is valid because each “block” of transactions is cryptographically a permissioned and private blockchain framework created by the linked to the previous block so that any change would alert all other Hyperledger consortium to help develop DLT for a variety of business users. -
5.Sustainability
P2Pvalue More than 95% of the cases surveyed use centralized servers to store the users’ data. Over the whole population of cases this would be lower, as less than 88% has a centralized architecture allowing for central storage. Index infrastructure provision On a scale of 1 to 9, half of the cases have less than 3, and 84.1% of the cases are at the intermediate level of the index (between 4 and 5). None of the cases are at the highest range of the index. 5.Sustainability Regarding the question of profitability versus non profitability character of infrastructure provision, what results from the data on the legal type of infrastructure provision (see table above as part of infrastructure provision section) is that non-profit organizations make up the majority of cases (57%), something that makes sense with the voluntary dimension of the majority of CBPP experiences. Nevertheless, we consider it important to highlight that 28.9% of the cases are for profit organizations, something that is closely related to the diffusion of hybrid cases in CBPP. The data on the type of organization connected to the case (see table at section infrastructure provider) notes that 25.1% of the cases are businesses, which is the second type of most common organization. What we highlight about this data concerning the main strategies to achieve economic sustainability is the high level of importance that is given to the non- monetary contributions. For instance, 51% of respondents assign a value of 10 to non-monetary contributions. Instead, when we analyze all the other strategies of sustainability, the median is very low. -
From Material Scarcity to Arti8cial Abundance – the Case of Fablabs and 3D Printing Technologies Primavera De Filippi, Peter Troxler
From material scarcity to arti8cial abundance – The case of FabLabs and 3D printing technologies Primavera de Filippi, Peter Troxler To cite this version: Primavera de Filippi, Peter Troxler. From material scarcity to arti8cial abundance – The case of FabLabs and 3D printing technologies. van den Berg B. & van der Hof S. 3D Printing : Legal, philosophical and economic dimensions., T.M.C. Asser Instituut pp. 65-83, 2015. hal-01265229 HAL Id: hal-01265229 https://hal.archives-ouvertes.fr/hal-01265229 Submitted on 31 Jan 2016 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. Primavera De Filippi & Peter Troxler [4] From material scarcity to arti8cial abundance – The case of FabLabs and 3D printing technologies Primavera De Filippi & Peter Troxler 1. Introduction Digital media allowed for the emergence of new artistic practices and innovative modes of production. In particular, the advent of Internet and digital technologies drastically enhanced the ability for multiple au- thors to collaborate towards the creation of large-scale collaborative works, which stand in contrast to the traditional understanding that artistic production is essentially an individual activity. The signi6cance of these practices in the physical world is illustrated by the recent deployment of FabLabs (Fabrication Laboratories), that employ innovative technologies – such as, most notably, 3D printing, which is recently gaining the most interest – to encourage the development of new methods of artistic production based on participation and interaction between peers. -
Read the Report Brief
A REVOLUTION IN TRUST Distributed Ledger Technology in Relief & Development MAY 2017 “The principal challenge associated with [DLT] is a lack of awareness of the technology, especially in sectors other than banking, and a lack of widespread understanding of how it works.” - Deloitte Executive Summary1 The Upside In 2016, the blockchain was recognized as one of the top 10 In a recent report, Accenture surveyed emerging technologies by the World Economic Forum.2 The cost data from eight of the world’s ten potential of the blockchain and distributed ledger technology largest investment banks, with the goal of putting a dollar figure against potential (hereinafter “DLT”) to deliver benefits is significant. Gartner cost savings that might be achieved with estimates that DLT will result in $176 billion in added business DLT. The report concluded that the value by 2025; that total reaches $3.1 trillion by 2030.3 banks analyzed could reduce infrastructure costs by an average $8 to Investment in the field reflects the widespread belief that the $12 billion a year. The survey mapped technology can deliver value. Numerous trials, and some more than 50 operational cost metrics deployments, can be found across multiple sectors. and found the savings would break down as follows: Over two dozen countries are investing in DLT 70% savings on central financial More than 2,500 patents have been filed in the last 3 reporting 4 30-50% savings on compliance years 50% savings on centralized operations As of Q4, 2016, 28 of the top 30 banks were engaged in 50% savings on business blockchain proofs-of-concept operations. -
Liquidity Or Leakage Plumbing Problems with Cryptocurrencies
Liquidity Or Leakage Plumbing Problems With Cryptocurrencies March 2018 Liquidity Or Leakage - Plumbing Problems With Cryptocurrencies Liquidity Or Leakage Plumbing Problems With Cryptocurrencies Rodney Greene Quantitative Risk Professional Advisor to Z/Yen Group Bob McDowall Advisor to Cardano Foundation Distributed Futures 1/60 © Z/Yen Group, 2018 Liquidity Or Leakage - Plumbing Problems With Cryptocurrencies Foreword Liquidity is the probability that an asset can be converted into an expected amount of value within an expected amount of time. Any token claiming to be ‘money’ should be very liquid. Cryptocurrencies often exhibit high price volatility and wide spreads between their buy and sell prices into fiat currencies. In other markets, such high volatility and wide spreads might indicate low liquidity, i.e. it is difficult to turn an asset into cash. Normal price falls do not increase the number of sellers but should increase the number of buyers. A liquidity hole is where price falls do not bring out buyers, but rather generate even more sellers. If cryptocurrencies fail to provide easy liquidity, then they fail as mediums of exchange, one of the principal roles of money. However, there are a number of ways of assembling a cryptocurrency and a number of parameters, such as the timing of trades, the money supply algorithm, and the assembling of blocks, that might be done in better ways to improve liquidity. This research should help policy makers look critically at what’s needed to provide good liquidity with these exciting systems. Michael Parsons FCA Chairman, Cardano Foundation, Distributed Futures 2/60 © Z/Yen Group, 2018 Liquidity Or Leakage - Plumbing Problems With Cryptocurrencies Contents Foreword .............................................................................................................. -
Blockchain in Japan
Blockchain in Japan " 1" Blockchain in Japan " "The impact of Blockchain is huge. Its importance is similar to the emergence of Internet” Ministry of Economy, Trade and Industry of Japan1 1 Japanese Trade Ministry Exploring Blockchain Tech in Study Group, Coindesk 2" Blockchain in Japan " About this report This report has been made by Marta González for the EU-Japan Centre for Industrial Cooperation, a joint venture between the European Commission and the Japanese Ministry of Economy, Trade and Industry (METI). The Centre aims to promote all forms of industrial, trade and investment cooperation between Europe and Japan. For that purpose, it publishes a series of thematic reports designed to support research and policy analysis of EU-Japan economic and industrial issues. To elaborate this report, the author has relied on a wide variety of sources. She reviewed the existing literature, including research papers and press articles, and interviewed a number of Blockchain thought leaders and practitioners to get their views. She also relied on the many insights from the Japanese Blockchain community, including startups, corporation, regulators, associations and developers. Additionally, she accepted an invitation to give a talk1 about the state of Blockchain in Europe, where she also received input and interest from Japanese companies to learn from and cooperate with the EU. She has also received numerous manifestations of interest during the research and writing of the report, from businesses to regulatory bodies, revealing a strong potential for cooperation between Europe and Japan in Blockchain-related matters. THE AUTHOR Marta González is an Economist and Software Developer specialized in FinTech and Blockchain technology. -
De Filippi & Tréguer
May 2014 Expanding the Internet Commons : The Subversive Potential of Wireless Community Networks by Primavera De Filippi1 and Félix Tréguer2 “Freedom is fostered when the means of communication are dispersed, decentralized, and easily available, as are printing presses and microcomputers. Central control is more likely when the means of communication are concentrated, monopolized, and scarce, as are great networks,” wrote professor Ithiel de Sola Pool (1984), an American political scientist and legal analyst of communications technologies. Beyond highlighting historical and technical trends in technology, Sola Pool also understood that there was nothing deterministic about how technologies evolve. While control over printing presses and microcomputers can, as it turns out, be highly centralized, the deployment and management of telecommunication networks can, eventually, undergo a process of decentralization. The outcome ultimately depends on political, technical, economic, institutional and legal arrangements shaping both the development of communications tools and their use. Often, when it comes to politics – and Internet policy is obviously no exception – the antagonism between freedom and control essentially comes down to the trade-off between centralization or decentralization. In the past year, the ongoing controversy regarding the massive surveillance undertaken by the US National Security Agency (NSA) and its allied organizations has encouraged a growing number of technology activists to deploy decentralized and free software3 alternatives to the centralized online services known to collaborate with the NSA. This trend can be likened to what happened repeatedly in the history of the Internet. The rise of the personal computer and the widespread adoption of the Internet network came out of a need to democratize computing technologies by taking them out of the hands of technocracy – decentralizing both the use of computers and the control of communication technologies. -
The Economics of Distributed Ledger Technology for Securities Settlement
ISSN 2379-5980 (online) DOI 10.5195/LEDGER.2019.144 RESEARCH ARTICLE The Economics of Distributed Ledger Technology for Securities Settlement Evangelos Benos,*† Rodney Garratt,‡ Pedro Gurrola-Perez§ Abstract. We apply economic principles to understand how distributed ledger technology (DLT) might impact the innovation process and eventual market structure in the security settlement industry. Our main conclusions are that: i) Although DLT has the potential to significantly reduce costs in securities settlement, implementation is challenging, ii) technological innovation in the post-trade industry is more likely to succeed with some degree of coordination, which could be facilitated by the relevant authorities, and iii) DLT- based securities settlement is likely to be concentrated among few providers which, absent any regulation, could result in inefficient monopoly pricing or efficient price discrimination with service providers capturing much of the market surplus. 1. Introduction Over the last few years, a number of technological innovations with potentially transformative implications for the financial system have been receiving close attention from researchers, industry participants, technology firms, and regulators. In particular, for the post-trade cycle, which includes clearing and settlement of financial transactions, the distributed ledger technology (or DLT) is considered to be promising, with the potential to drastically simplify processes, reduce costs, and increase efficiency and security. This has spurred a flurry of analysis -
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.