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This paper presents measurement results of the world wide first successful certification the electrical properties of a wind turbine, solely based upon measurements obtained at a system test bench with HiL-System and grid emulator. For all certification relevant tests the results are compared to field measurements. The impact of the real-time models in the HiL-System as well as the converter-based grid emulator are discussed in this paper. For full converter wind turbine, different requirements for the model depth could be determined depending on the tests. Nevertheless, higher-quality models that reflect the plant behaviour better are recommended to reduce uncertainties within the certification process. This paper also shows that especially for grid failure events grid emulators require real-time impedance control, in order to emulate grid failures properly. Based on these findings, recommendations for the requirements on test bench components are formulated in this paper, in order to contribute to new certification guidelines. Overall, we conclude that based on the experiences made at two different system test benches, the vast majority of certification measurements can be carried out without limitation at such system test benches.

Countlessdecentralized finance (DeFi) applications of the past years have suffered from the high volatility and speculative behavior surrounding their underlying crypto assets. While the academic debate has been flourishing in these areas, Decentralized Autonomous Organizations (DAOs) have not received as much attention. This is the case even though they could offer an opportunity to solve some of the underlying problems of existing cryptocurrencies and ecosystems, for example, by providing lower volatility and, thus, exchange rate stability. This paper presents an economic analysis of the MakerDAO, a DAO in DeFi. In doing so, we use a single case study methodology based on existing resources and expert interviews. It also uses monetary theory instruments to provide researchers and developers with insights into how DAOs are governed. Further, it serves to illustrate how IS research may support the development of future IT artifacts aimed at offering the infrastructure for DeFi applications.

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