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In the field of Blockchain Technology applications and research, non-fungible tokens (NFTs) have gained significant attention in recent years. Whilst current research is focused on NFT use cases or the purchase of NFTs from an investor’s perspective, the NFT launch (i.e. primary market) from a creator’s perspective remains uncovered. However, the launch strategy is considered to be an important factor for the success of a product. Therefore, our research paper aims to explore launch strategies of NFTs. Thereby, we discuss the marketing mix instruments price (i.e. pricing strategy), place (i.e. mint mechanism), and promotion. Through an empirical approach of conducting eight expert interviews, we examine parameters that are used to define an NFT launch strategy and assess their preference of different stakeholders.
A Systematic Literature Review on Blockchain Oracles: State of Research, Challenges, and Trends
(2023)
To enable data exchange between the Blockchain protocol (on-chain) and the real world (off-chain), e.g., non-Blockchain-based applications and systems, a software called Oracle is used [3]. Blockchain oracle is an important component in the use of off-chain data for on-chain smart contracts. However, there is limited scientific literature available on this important blockchain topic. Therefore, in this paper, a novel systematic literature review based on intelligent methods, e.g., information linking, topic clustering and focus identification through frequency calculations, is proposed. Thus, the current state of scientific research interest, content and challenges, and future research directions for blockchain oracles are identified. This paper shows that there is little unbiased literature that does not call oracles a problem. From the results of this new literature review framework, relevant areas of data handling and verification with blockchain oracles are identified for future research.
Safety, quality, and sustainability concerns have arisen from global supply chains. Stakeholders incur risk regarding these factors, given their significance and complexity. Thus, each business's supply chain risk management must prioritize product characteristics. Accordingly, an effective traceability solution that can monitor and regulate product and supply chain aspects is crucial, especially in a given scenario. This re-search paper elucidates the potential of smart contracts in blockchain to enhancing the efficacy of business transactions and ensuring comprehensive traceability within the supply chain of paper-based coffee cups The improved levels of transaction transparency and security in traditional supply chains have been achieved through the digitization of supply chain ecosystem interactions and transactions. This approach makes verifying sources, manufacturing procedures, and quality standards easier in complex supply chains. Accordingly, the integration helps stakeholders monitor and track the whole ecosystem, promoting transparency, predictability, and dependability.
This desk research will initiate an exploration of present and potential blockchain applications in the higher education sector of Europe. The aim of this research is to create a theoretical base for a further postgraduate research and analysis, so to create an effective model/framework to augment the integration of blockchain technology into existing organizational processes, initially in higher educational institutions, but which may be adaptable and generalizable to other specific uses. Due to the novelty of the topic, academic resources related to the research area are limited. Most studies seem to focus on blockchain-based applications in industries such as finance, healthcare, and supply chain management, and there is little evidence of the impact of blockchain technology on education. This paper discusses present and suggests some potential blockchain-based applications in education in Europe and beyond. This research provides a groundwork for education and academia stakeholders, policymakers and researchers to exploit the potential of blockchain in different functions of an education system.
Currently, the Internet of Things (IoT) is connected to the virtual world through the Web of Things (WoT), allowing efficient utilization of real-world objects with Internet technologies. The WoT facilitates abstract interaction between applications and connected IoT devices, allowing owners to switch between devices while using multiple ones. To achieve this, virtual assets in WoT devices can be tokenized through smart contracts and transferred using hashed proof as transactions within blockchain networks that support virtual currencies. The goal of Web of Things is to establish connectivity, interoperability, and integration among IoT devices using web standards and protocols, reducing reliance on device manufacturers. This enables easy integration of Web 3.0 cryptocurrency for device management. This study proposes a solution for WoT applications involving different cryptocurrency definitions. Finally, simulation results are presented to demonstrate the tokenization-based ownership transfer in the Web of Things.
The cryptocurrency ecosystem has seen significant growth with Ethereum and Bitcoin as foundational pillars. Ethereum introduced smart contracts revolutionizing decentralized applications (dApps) across various domains. Scalability challenges led to alternative ecosystems like Binance Smart Chain and Polygon, maintaining compatibility through the Ethereum Virtual Machine (EVM). Bitcoin also faces scalability issues, leading to the Lightning Network's development—an off-chain solution with payment channels for scalable instant transactions. Interoperability is increasingly crucial as the cryptocurrency ecosystem continues to grow, enabling seamless interactions between assets and data across multiple blockchain platforms. EVM-compatible blockchains and the Lightning Network offer unique advantages in their respective use cases. This paper utilizes atomic swaps to create a secure, fast, and user-friendly trustless bridge between the Lightning Network and EVM-compatible blockchains, fostering the growth of both ecosystems and unlocking novel opportunities.
Reputation is indispensable for online business since it supports customers in their buying decisions and allows sellers to justify premium prices. While IS research has investigated reputation systems mainly as review systems on online platforms for business-to-consumer (B2C) transactions, no proper solutions have been developed for business-to-business (B2B) transactions yet. We use blockchain technology to propose a new class of reputation systems that apply ratings as voluntary bonus payments: Before a transaction is performed, customers commit to pay a bonus that is granted if a service provider has performed a service properly. As opposed to rival reputation systems that build on cumulated ratings or reviews, our system enables monetized reputation mechanisms that are inextricably linked with online transactions. We expect this system class to provide more trustworthy ratings, which might reduce agency costs and serve quality providers to establish a reputation towards new customers.
As economies are getting more and more interconnected, the importance of the global logistics sector grew accordingly. However, both structural challenges and current events lead to recent supply chain disruptions, exposing the vulnerabilities of the sector. Simultaneously, blockchain has emerged as a key innovative technology with use cases going far beyond the exchange of virtual currencies. This paper aims to analyze how the technology is transforming global logistics and its challenges. Therefore, six use cases, are presented to give an overview of the technological possibilities of blockchain and smart contracts. The analysis combines theoretical approaches from scientific journals and combines them with findings from real-world implementations. The paper finds that the technology can change supply chain design fundamentally, with processes and decisions being automated and power within supply chain structures changing. However, implementations also face technological, environmental, and organizational challenges that need to be solved for wide-spread adoption.
Digital Power of Attorney catalyzed by Software Requirements for Blockchain-based Applications
(2022)
Blockchain Technology (BT) with so-called web3 is at an inflection point between new sub-theme hypes and world-wide industrialization over last three years thanks to large companies like MicroStrategy [1], Facebook [2] and several Venture-Capital formations [3] who are already fighting over market share and community growth. Our work represents insights from Literature-based Software Requirement (SR) elicitation for a specific Blockchain-based Application, which is creation, managing and control of digital Power of Attorney (POA). The context of POA is not only a financial driven use-case it is by far a heavy weight universal legal transaction. We use a morphological box and reduced PRIMS-P to synthesis a generic specification for further Blockchain-based Application development. Formulated SRs in POA context are reflected on our core actors which are Grantor and authorized, trusted, external Entities. Proposed characteristics for relationship and effects are visualized in a reference model originally used in digital platform ecosystems [4]. This design and modelling approach facilitated closing discussion of BT and its future eCommerce perspective.
Humans started using the principles of insurance thousands of years ago when they lived in tribes in smaller villages. If one of the tribe members were injured, the others would take care of him and his family. The basic principle of insurance is several people covering each other against a particular risk. Today, most people in regions like Europe have access to insurance, while many people worldwide still have no access at all. The cost and accessibility may be improved with a blockchain-based parametric approach. The insurance process in a parametric approach is exclusively based on data, and decisions are made objectively. Blockchain is a necessary and integral part of the approach to create transparency and connect the customer’s and investor’s risk capital. The paper offers an overview of the opportunities and challenges of blockchain-based parametric insurance, a catalog of criteria for such insurance, a description of all components and their interaction for implementation on Ethereum, and a reference implementation of a train delay insurance in Germany.