Blockchain has become a new frontier of venture capitals that has attracted the attention of banks, governments, and other business corporations. The recent blockchain related attempts included legal blockchains by Fadada.com and Microsoft and pork tracking blockchains by Walmart and IBM. Blockchain is poised to become the most exciting invention after the Internet; while the latter connects th...

Bringing Blockchain technology and business process management together, we follow the Design Science Research approach and design, implement, and evaluate a Blockchain prototype for crossorganizational workflow management together with a German bank. For the use case of a documentary letter of credit we describe the status quo of the process, identify areas of improvement, implement a Blockcha...

Blockchain has drawn attention as the next-generation financial technology due to its security that suits the informatization era. In particular, it provides security through the authentication of peers that share virtual cash, encryption, and the generation of hash value. According to the global financial industry, the market for security-based blockchain technology is expected to grow to abou...

This paper presents the first generalized reputation system that can be applied to multiple networks that is based on the blockchain. We first discuss current reputation systems, conducting a critical analysis of their current security vulnerabilities, before looking at how new blockchain-based technologies are used. We propose an innovative new reputation system that is based on blockchain tec...

Bitcoin and blockchain technologies have proven to be a phenomenal success. Œe un-derlying techniques hold huge promise to change the future of €nancial transactions, andeventually the way people and companies compute, collaborate, and interact. At the sametime, the current Bitcoin-like proof-of-work based blockchain systems are facing many chal-lenges. For example, a huge amoun...

The Bitcoin network has scalability problems. To increase its transaction rate and speed, micropayment channel networks have been proposed, however these require to lock funds into specific channels. Moreover, the available space in the blockchain does not allow scaling to a world wide payment system. We propose a new layer that sits in between the blockchain and the payment channels. The new l...

An intrinsic feature of blockchain technology is the so-called distributed ledger, which involves maintaining a decentralized record of all transactions for a security. A distributed ledger allows anyone with access to it to identify asset holdings by (anonymous) identifiers. In this paper, we argue that the mapping between identifiers and end-investors should be a market design choice. We capt...

Bitcoin was the first currency not controlled by a single entity (Nakamoto 2008). Bitcoin is a cryptocurrency, built on blockchain technology. Initially known to only a few nerds and criminals it now has hundreds of thousands of daily transactions. Bitcoin has achieved values of more than US$15,000 per coin (as of the end of 2017). Rising value attracts attention. For some, Bitcoin is digital f...

Since the inception of Bitcoin technology, its underlying data structure–the blockchain–has garnered much attention due to properties such as decentralization, transparency, and immutability. These properties make blockchains suitable for apps that require disintermediation through trustless exchange, consistent and incorruptible transaction records, and operational models beyond cryptocurrency...

The Bitcoin network has scalability problems. To increase its transaction rate and speed, micropayment channel networks have been proposed, however these require to lock funds into specific channels. Moreover, the available space in the blockchain does not allow scaling to a world wide payment system. We propose a new layer that sits in between the blockchain and the payment channels. The new l...