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A Blockchain Infrastructure for Transportation in Low Income Country Cities, and Beyond 低收入国家城市及其他地区的交通区块链基础设施
Pub Date : 2019-09-05 DOI: 10.31585/jbba-2-2-(7)2019
Simon J. Herko
For our cities of tomorrow, it is essential that transport is organised in an efficient, resilient and equitable way; enabling economic growth, social cohesion and minimising environmental impact, including Climate Change. In cities across the world, new flexible, sharing economy services are blurring the lines between private and public transportation. However, these new transport modes are creating a “digital divide” and lack the integration and co-ordination between other services. This is needed to create seamless and sustainable travel options for people, including those belonging to vulnerable groups.This exploratory paper examines the potential for Blockchain to play a pivotal role in addressing increasing congestion and pollution in growing cities of developing countries. It draws on preliminary research into the role of Automatic Fare Collection systems and related mobility market dynamics and trends in the cities of Cape Town, South Africa and Dehli, India. A case is made for a global and universal blockchain infrastructure, for the sharing of data on movement and assets, designed with low income economies and vulnerable groups in mind. It would enable:• users access to different modes of transport in an equitable and hassle-free way,• assurance to transport operators on surety of payment,• cities with integrated solutions for tackling congestion and targeting subsidies. In wealthier countries Mobility-as-a-Service (MaaS) is a new business model that integrates public and private services together. Its level of adoption could be limited without a supporting blockchain infrastructure.By creating viable new digital infrastructure for Low Income Country Cities (LICCs), who have less incumbent legacy systems, there is potential to establish a decentralised blockchain network across these territories. There would also be scope for this network to be scaled further into wealthier countries, through a secondary wave of adoption by Mobility-as-a-Service (MaaS).
对于我们未来的城市来说,以高效、有弹性和公平的方式组织交通至关重要;促进经济增长、社会凝聚力和最大限度地减少环境影响,包括气候变化。在世界各地的城市,新的灵活的共享经济服务正在模糊私人和公共交通之间的界限。然而,这些新的运输模式正在制造“数字鸿沟”,并且缺乏其他服务之间的整合和协调。这需要为人们,包括弱势群体创造无缝和可持续的旅行选择。这篇探索性论文探讨了区块链在解决发展中国家日益增长的城市中日益严重的拥堵和污染方面发挥关键作用的潜力。它借鉴了对自动收费系统的作用以及南非开普敦和印度德里等城市的相关移动市场动态和趋势的初步研究。提出了一个全球和通用的区块链基础设施的案例,用于共享移动和资产数据,设计时考虑到低收入经济体和弱势群体。它将使:•用户能够以公平和无障碍的方式使用不同的交通方式;•向运输运营商保证付款;•城市拥有解决拥堵和目标补贴的综合解决方案。在富裕国家,移动即服务(MaaS)是一种新的商业模式,它将公共和私人服务整合在一起。如果没有支持区块链的基础设施,它的采用水平可能会受到限制。通过为现有遗留系统较少的低收入国家城市(LICCs)创建可行的新数字基础设施,有可能在这些地区建立分散的区块链网络。通过移动即服务(MaaS)的第二波采用,这一网络也有进一步扩展到富裕国家的空间。
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引用次数: 4
Decentralisation is Coming: The Future of Blockchain 去中心化即将到来:b区块链的未来
Pub Date : 2019-08-16 DOI: 10.31585/jbba-2-2-(8)2019
M. Fenwick, E. Vermeulen
Advocates of blockchain believe that distributed ledger technologies can provide us with a technological infrastructure to challenge the concentrated power of tech giants such as Amazon, Facebook and Google, and create a more equitable, sustainable and decentralized world. This paper considers these claims and concludes that they are preferable to defending the status quo or arguing that a solution might be found in more and better regulations. Nevertheless, the future remains highly uncertain and we are currently living in a rapidly evolving “space” between two competing realities: a centralized old-world reality and a fast-emerging, but, as yet, incomplete, decentralized reality. We remain optimistic that decentralization is coming but identify powerful competing forces seeking to preserve the status quo. As such, we must encourage more organizations – business, government, investors, charities – to experiment with distributed ledger technologies and to participate actively in the digital transformation. We need more experimentation to address the current shortcomings of decentralisation and to ensure the early arrival of mainstream applications of a technology that has the potential to solve some of the most pressing global challenges of a digital age.
区块链的倡导者认为,分布式账本技术可以为我们提供技术基础设施,挑战亚马逊、Facebook、谷歌等科技巨头的集中力量,创造一个更加公平、可持续和去中心化的世界。本文考虑了这些主张,并得出结论,它们比维护现状或辩称可能在更多更好的法规中找到解决方案更可取。然而,未来仍然高度不确定,我们目前生活在两个相互竞争的现实之间迅速演变的“空间”:一个是中央集权的旧世界现实,另一个是迅速出现但尚未完成的分散现实。我们仍然乐观地认为,权力下放即将到来,但我们也认识到寻求维持现状的强大竞争力量。因此,我们必须鼓励更多的组织——企业、政府、投资者、慈善机构——试验分布式账本技术,并积极参与数字化转型。我们需要更多的实验来解决目前去中心化的缺点,并确保这项技术的主流应用早日到来,这项技术有可能解决数字时代一些最紧迫的全球挑战。
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引用次数: 1
Blockchain Investigations - Beyond the 'Money' 区块链调查——超越“金钱”
Pub Date : 2019-08-12 DOI: 10.31585/JBBA-2-2-(6)2019
S. Dyson
Cryptocurrency investigations have centered almost entirely around the transfer of value “money” or a cryptocurrency asset. The use of cryptocurrency for illicit purposes, especially Bitcoin, is well documented both in academic writing, media reporting and even film documentaries. The infamous SilkRoad market place in addition to the millions of dollars spent within dark markets on drugs, guns and assassinations have grabbed the headlines. This paper looks at how blockchain is creating new areas of investigation that are yet to be explored in detail. This scenario-based research examines the hosting of stolen data (P.I.I) personal identifiable information on a distributed blockchain host where the data is also accessible. The platform used is based on Ethereum infrastructure but demonstrates just one available platform that poses the paradigm. The paper examines the considerations through the lens of an incident responder /cyber investigator, forensics examiner and data controller. The scenario highlights distinct differences in considerations from a traditional response compared to dealing with the immutable and unstoppable distributed technology. The paper concludes that more is needed to be done to understand digital forensics in the blockchain era and the need to develop beyond track and trace in the cryptocurrency investigative tool box. The discussion also brings forth how data retention and GDPR requires consideration when applying it blockchain systems.
加密货币调查几乎完全围绕价值“货币”或加密货币资产的转移展开。将加密货币用于非法目的,尤其是比特币,在学术写作、媒体报道甚至电影纪录片中都有很好的记录。臭名昭著的丝绸之路市场,以及黑市上数百万美元的毒品、枪支和暗杀活动,都占据了各大媒体的头条。本文着眼于区块链如何创造尚未详细探索的新调查领域。这种基于场景的研究检查了在分布式区块链主机上托管被盗数据(P.I.I)个人身份信息,其中数据也可以访问。所使用的平台是基于以太坊基础设施的,但只展示了一个可用的平台。本文通过事件响应者/网络调查员、法医审查员和数据控制者的视角考察了这些考虑因素。与处理不可变和不可阻挡的分布式技术相比,该场景突出了传统响应在考虑方面的明显差异。该论文的结论是,需要做更多的工作来了解区块链时代的数字取证,以及在加密货币调查工具箱中开发超越跟踪和追踪的需求。讨论还提出了在应用区块链系统时如何考虑数据保留和GDPR。
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引用次数: 1
A Review of fast-growing Blockchain Hubs in Asia 亚洲快速增长的bb0中心综述
Pub Date : 2019-08-09 DOI: 10.31585/JBBA-2-2-(5)2019
Caroline Lim, Yu Wang, Jing Ren, Swee-Won Lo
The unique combination of social and economic factors has brought about a dynamic and rapidly-evolving blockchain ecosystem in Asia. This paper systematically reviewed the development of four fast-growing blockchain hubs in Asia, namely China, Japan, Singapore and South Korea using secondary data sources. These countries are fast-growing based on the development of its digital, technological and regulatory infrastructure, patent applications, cryptocurrency trading volume and Initial Crypto-token Offerings (ICOs) activities. The review included insights into the different regulatory approaches, the blockchain startup scenes, selected enterprise or government-backed projects, as well as the research and educational landscape. Our findings suggested that the regulators, industry players, and academic institutions were purposeful and deliberate in nurturing blockchain technology innovation. Future development would be dependent on the regulatory, technological, as well as talent capability support unique to each blockchain hub.
社会和经济因素的独特结合为亚洲带来了一个充满活力和快速发展的区块链生态系统。本文系统地回顾了亚洲四个快速增长的区块链中心的发展,即中国、日本、新加坡和韩国。这些国家基于其数字、技术和监管基础设施、专利申请、加密货币交易量和初始加密代币发行(ico)活动的发展而快速增长。该审查包括对不同监管方法、区块链启动场景、选定的企业或政府支持的项目,以及研究和教育领域的见解。我们的研究结果表明,监管机构、行业参与者和学术机构在培育区块链技术创新方面是有目的和深思熟虑的。未来的发展将取决于每个区块链中心独特的监管、技术和人才能力支持。
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引用次数: 14
Transitioning to a Hyperledger Fabric Quantum-Resistant Classical Hybrid Public Key Infrastructure 过渡到超级账本结构抗量子经典混合公钥基础设施
Pub Date : 2019-07-31 DOI: 10.31585/JBBA-2-2-(4)2019
Robert Campbell
This research has two parts; the first is to identify enterprise Hyperledger Fabric (HLF) blockchain cybersecurity vulnerabilities, threats, and legal obligations in a Post-Quantum Cryptography (PQC) world. HLF is a permissioned blockchain designed by IBM and uses Public Key Infrastructure (PKI), for digital signatures, and digital identities (X.509 certificates), which are critical to the operational security of its network. On 24 January 2019, Aetna, Anthem, Health Care Service Corporation, PNC Bank, and IBM announced collaboration to establish a blockchain-based ecosystem for the healthcare industry [1]. Quantum computing poses a devasting impact on PKI and estimates of its large-scale commercial arrival should not be underestimated and cannot be predicted. The HIPAA (Health Insurance Portability and Accountability Act) and General Data Protection Regulation (GDPR), requires “reasonable” measures to be taken to protect Protected Health Information (PHI), and Personally Identifiable Information (PII). However, HLF’s ecosystem is not post-quantum resistant, and all data that is transmitted over its network is vulnerable to immediate or later decryption by large scale quantum computers. The second part of this research is the independent evaluation and testing of National Institute of Standards and Technology (NIST), based Second Round Candidate PQC, lattice-based digital signature scheme, qTESLA. It’s, second-round submission is much improved, however; its algorithm characteristics and parameters are such that it is unlikely to be a quantum-resistant “as is,” simple “plug-and-play” function and replacement for HLF’s PKI. This work also proposes qTESLA’s public keys be used to create a quantum-resistantclassical hybrid PKI near-term replacement.
本研究分为两个部分;第一个是确定企业超级账本结构(HLF)区块链网络安全漏洞、威胁和后量子加密(PQC)世界中的法律义务。HLF是由IBM设计的许可区块链,并使用公钥基础设施(PKI)进行数字签名和数字身份(X.509证书),这对其网络的操作安全性至关重要。2019年1月24日,Aetna、Anthem、Health Care Service Corporation、PNC Bank和IBM宣布合作建立一个基于区块链的医疗行业生态系统[1]。量子计算对PKI造成了毁灭性的影响,对其大规模商业到来的估计不应被低估,也无法预测。HIPAA(健康保险流通与责任法案)和通用数据保护条例(GDPR)要求采取“合理”措施来保护受保护的健康信息(PHI)和个人身份信息(PII)。然而,HLF的生态系统并不具有后量子抗性,通过其网络传输的所有数据都容易被大规模量子计算机立即或稍后解密。本研究的第二部分是美国国家标准与技术研究院(NIST)的独立评估和测试,基于第二轮候选PQC,基于格子的数字签名方案,qTESLA。然而,第二轮的提交有了很大的改进;它的算法特征和参数是这样的,它不太可能成为一个抗量子的“现状”,简单的“即插即用”功能,也不太可能取代HLF的PKI。这项工作还建议使用qTESLA的公钥来创建一个抗量子的经典混合PKI的近期替代品。
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引用次数: 9
Singapore’s Open Digital Token Offering Embrace: Context & Consequences 新加坡开放数字代币发行拥抱:背景与后果
Pub Date : 2019-06-28 DOI: 10.31585/JBBA-2-2-(3)2019
R. Greene, David Lee Kuo Chuen
The overall global public’s ability to purchase some portion of a digital token project’s initial batch of tokens is the defining feature of an open digital token offering. Using a dataset that differentiates this token distribution model from other varieties – a distinction often underemphasised in regional analyses of digital token sale trends – this research estimates 2017-18 open digital token offering activity by jurisdiction, finding that Singapore-registered projects accounted for 21 percent of Q3/Q4 2018 dollar-volume, more than any other country. Conversely, by late 2018, previous hubs of this distribution model represented a much smaller share. Reasons for Singapore’s rise as a global hub of the open digital token offering are explored, with a particular focus on examining contrasting regulatory approaches to distinguishing between this token distribution model and traditional securities offerings. Notably, 11 percent of Singapore-registered Q3/Q4 2018 token offering dollar-volume was purely-private, versus 94 percent in the U.S. Policy considerations related to this distribution method and the open digital token offering are presented, as are contrasting outcomes: this research estimates that over 70 percent of Singapore’s one-to-two-year-old open token offerings resulted in operational networks or minimum-viable-products, versus fewer than 40 percent of U.S. private sales. Also, about 40 percent of smart contract platform projects that conducted 2017-18 token sales were Singapore-registered – many more than in any other country. For reasons explored in this research, these findings support the view that open digital token offerings benefit projects aiming to concurrently raise funds, build up a user-base, and incentivise technologists to contribute to project development. Moreover, risks to retail participants posed by this distribution method are manageable. Singapore’s policy approach towards open digital token offerings has benefited the Lion City, which was likely home to more digital token projects that conducted 2018 token sales than any other city in the world.
全球公众购买数字代币项目初始代币的一部分的能力是开放数字代币产品的定义特征。该研究使用了一个将这种代币分布模型与其他品种区分开来的数据集——这一区别在数字代币销售趋势的区域分析中往往被低估——该研究估计了2017-18年按司法管辖区划分的开放数字代币发行活动,发现新加坡注册的项目占2018年第三季度/第四季度美元交易量的21%,高于其他任何国家。相反,到2018年底,这种分销模式的前几个中心所占的份额要小得多。本文探讨了新加坡作为开放数字代币发行的全球中心崛起的原因,特别侧重于研究对比的监管方法,以区分这种代币发行模式和传统证券发行。值得注意的是,在新加坡注册的2018年第三季度/第四季度代币发行美元交易量中,有11%是纯私人的,而在美国,与这种分配方法和开放数字代币发行相关的政策考虑为94%,对比结果是:这项研究估计,超过70%的新加坡一到两年的开放代币发行导致运营网络或最低可行产品,而美国私人销售的比例不到40%。此外,在2017-18年进行代币销售的智能合约平台项目中,约有40%是在新加坡注册的,比其他任何国家都要多。由于本研究探讨的原因,这些发现支持这样一种观点,即开放的数字代币产品有利于旨在同时筹集资金,建立用户基础并激励技术人员为项目开发做出贡献的项目。此外,这种分销方式给零售参与者带来的风险是可控的。新加坡对开放数字代币发行的政策方针使狮城受益,狮城可能是2018年进行代币销售的数字代币项目的所在地,比世界上任何其他城市都要多。
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引用次数: 7
Cryptocurrency Investing Examined 研究加密货币投资
Pub Date : 2019-05-28 DOI: 10.31585/JBBA-2-2-(2)2019
J. Liew, R. Li, T. Budavári, Avinash Sharma
In this work we examine the largest 100 cryptocurrency return series ranging from 2015 to early 2018. We concentrate our analysis on daily returns and find several interesting stylized facts. First, principal components analysis reveals a complex return generating process. As we examine our data in the most recent year, we find that surprisingly more than one principal component appears to explain the cross-sectional variation in returns. Second, similar to hedge fund returns, cryptocurrency returns suffer from the “beta-in-the-tails” hidden risk. Third, we find that predicting cryptocurrency movements with machine learning and artificial intelligence algorithms is marginally attractive with variation in predictability power per cryptocurrency. Fourth, lower volatile cryptocurrencies are slightly more predictable than more volatile ones. Fifth, evidence exists that efficacy of distinct information sets varies across machine learning algorithms, showing that predictability may be much more complex given a set of machine learning algorithms. Finally, short-term predictability is very tenuous, which suggests that near-term cryptocurrency markets are semi-strong form efficient and therefore, day trading cryptocurrencies may be very challenging.Keywords: cryptocurrency, blockchain, machine learning, bitcoin, beta-in-the-tails, risks
在这项工作中,我们研究了2015年至2018年初期间最大的100个加密货币回报系列。我们将分析集中在日收益上,并发现了几个有趣的程式化事实。首先,主成分分析揭示了一个复杂的收益生成过程。当我们检查最近一年的数据时,我们发现令人惊讶的是,不止一个主成分似乎可以解释收益率的横截面变化。其次,与对冲基金的回报类似,加密货币的回报也存在“尾部贝塔”(beta-in- tail)隐性风险。第三,我们发现用机器学习和人工智能算法预测加密货币的走势在每个加密货币的可预测能力变化的情况下是有吸引力的。第四,波动性较低的加密货币比波动性较大的加密货币更具可预测性。第五,有证据表明,不同信息集的有效性因机器学习算法而异,这表明,给定一组机器学习算法,可预测性可能要复杂得多。最后,短期可预测性非常微弱,这表明短期加密货币市场是半强势的,因此,日内交易加密货币可能非常具有挑战性。关键词:加密货币,区块链,机器学习,比特币,beta-in- tail,风险
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引用次数: 32
Full Text PDF of The JBBA Vol 2, Issue 1, May 2019 《JBBA》第2卷第1期,2019年5月全文PDF
Pub Date : 2019-05-04 DOI: 10.31585/jbba-2-1-(8)2019
N. Naqvi
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引用次数: 0
The Application of Behavioural Heuristicsto Initial Coin Offerings Valuation and Investment 行为启发式在首次代币发行估值和投资中的应用
Pub Date : 2019-04-12 DOI: 10.31585/JBBA-2-1-(7)2019
Maxwell Stanley
Blockchain projects have seen a rush of investment in the form of Initial Coin Offerings (ICOs) in 2016 and 2017, yet little is understood about how to valuate these projects. This research explored the application of behavioural heuristics to ICO valuation and investing. Identified were six variables that may impact investment decision making due to key behavioural biases. These variables - coin value, market capitalisation, ease of understanding, market sentiment, maximum ICO bonus level, and pre ICO social media levels - were analysed using Pearson’s Correlation against return on investment (ROI). The data was collected from numerous ICO websites and Twitter. Fundamental analysis was taken from Coincheckup due to it being a major source of information for many retail investors and using a well-defined methodology. Sentiment data was collected from Twitter and assessed using Crimson Hexagon’s social sentiment analysis tool. Ease of understanding was evaluated using AWS Blockchain business canvas. All information was compiled into a single dataset and the top 47 projects in terms of ROI were utilised for this research. Ease of understanding was found to be significantly correlated with ROI. Ease of understanding was then combined with fundamental analysis to develop a hybrid model of evaluation for cryptocurrency projects. This model substantially outperformed fundamental analysis alone, with a 33.6% improvement on ROI. In conclusion, current methods of fundamental analysis for blockchain projects are an inadequate method for capturing their full potential future value. Investors lacking appropriate tools and with limited knowledge and experience - along with the relatively recent advent of cryptocurrencies - are being influenced by behavioural factors such as ease of understanding. It is therefore important that investors and entrepreneurs alike take such factors into consideration.
2016年和2017年,区块链项目以首次代币发行(ico)的形式出现了投资热潮,但人们对如何评估这些项目知之甚少。本研究探讨了行为启发式在ICO估值和投资中的应用。由于关键的行为偏差,确定了可能影响投资决策的六个变量。这些变量——币价值、市值、易理解程度、市场情绪、ICO最高奖金水平和ICO前的社交媒体水平——使用Pearson’s Correlation against investment return (ROI)进行分析。这些数据是从众多ICO网站和Twitter上收集的。基本面分析来自Coincheckup,因为它是许多散户投资者的主要信息来源,并使用了明确的方法。情绪数据是从Twitter上收集的,并使用Crimson Hexagon的社会情绪分析工具进行评估。使用AWS区块链业务画布评估易于理解性。所有信息被汇编成一个单一的数据集,在投资回报率方面排名前47位的项目被用于这项研究。易理解性与ROI显著相关。然后,将易于理解与基础分析相结合,开发了一种用于加密货币项目评估的混合模型。该模型的表现明显优于单独的基本面分析,ROI提高了33.6%。总而言之,目前区块链项目的基础分析方法不足以捕捉其全部潜在的未来价值。缺乏适当工具、知识和经验有限的投资者,以及相对较新出现的加密货币,正受到易理解性等行为因素的影响。因此,投资者和企业家都必须考虑到这些因素。
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引用次数: 6
Parameters for Building Sustainable Blockchain Application Initiatives 建立可持续区块链应用计划的参数
Pub Date : 2019-04-08 DOI: 10.31585/JBBA-2-1-(6)2019
Lewis Laidin, K. Papadopoulou, N. Dane
Despite the demand and interest for the blockchain technology, there are still major challenges for blockchain application initiatives (projects and ventures) to be sustainable and reliable. While starting a non-blockchain initiative already comes with its own sets of challenges and has around 50% failure rate, starting a blockchain initiative rises the rate to 90% due to additional variables and confusion on top of this. Such a situation deters innovators and eventually dampens innovation, requiring priority for actions. This paper attempts to contribute by compiling and outlining the various key variables to be considered, as a set of parameters for blockchain initiators. Through secondary data collection: literature reviews, report studies and primary data collection: interventional and observational case study, interviews with blockchain researchers, businesses and entrepreneurs, this paper categorises variables into blockchain-related and business-related categories, outlining consideration points for each of the variables. By summarising and integrating the variables and referring to theories of innovation and adoption, it is concluded that concept validation entailing both initiative feasibility and user- demand, is of key importance for blockchain innovations.
尽管人们对区块链技术有需求和兴趣,但区块链应用计划(项目和企业)要实现可持续和可靠,仍然面临重大挑战。虽然启动一个非区块链计划已经有了自己的一系列挑战,并且失败率约为50%,但由于额外的变量和混乱,启动一个区块链计划的失败率将上升到90%。这种情况阻碍了创新者,最终抑制了创新,需要优先采取行动。本文试图通过编译和概述要考虑的各种关键变量作为区块链发起者的一组参数来做出贡献。通过二次数据收集:文献综述、报告研究和一次数据收集:干预和观察案例研究,对区块链研究人员、企业和企业家的访谈,本文将变量分为与区块链相关的类别和与业务相关的类别,概述了每个变量的考虑点。通过总结和整合变量,并参考创新和采用理论,得出的结论是,涉及倡议可行性和用户需求的概念验证对区块链创新至关重要。
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引用次数: 2
期刊
The Journal of The British Blockchain Association
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