Banking with blockchain-ed big data

Hassani, Hossein; Huang, Xu; Silva, Emmanuel João Nogueira Leal

doi:10.1080/23270012.2018.1528900

Cited by 187 publications

(123 citation statements)

References 16 publications

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“…Put in a nutshell, the paper demonstrated working of bit coin, a type of currency that can be transacted digitally anytime around the world. Within a decade, there has been immense advancements of techniques into big data [28], machine learning [5], internet of money [55], etc. Blockchain, a broader concept that encompasses a model for bit coin transactions, is highly resilient against tampering of the data.…”

Section: Introductionmentioning

confidence: 99%

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Arjun¹,

Suprabha²

2020

IJIMAI

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Blockchain has been gaining focus in research and development for diverse industries in recent years. Nevertheless, innovations that impact to the banking nurture a potential for disruptive impact globally for economic reasons; however it has received less scholarly attention. Hence the effect of blockchain technologies on banking industry is systematically reviewed. The relevant literature is extracted from Scopus, Web of Science and bibliometric techniques are applied. While a bulk of earlier papers focuses only on bit coins, a broader framework is envisaged that synthesizes interdisciplinary thematic areas for advancement; hence novelty in current work. A few practical and theoretical implications for stakeholders in view of technology, law and management are discussed.

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Section: Introductionmentioning

confidence: 99%

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Arjun¹,

Suprabha²

2020

IJIMAI

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“…other 5 compared with the other markets. The main purpose of stablecoin is to stabilize the price [5,20]; however, cryptocurrencies are too volatile to peg to.…”

Section: Collateralized or Non-collaterizedmentioning

confidence: 99%

“…For example, the bitcoin protocol has a rule like "maximum block size is 1 MB." It is possible to change the protocols of cryptocurrencies but the difficulties of 5 CoinMarketCap "Top 100 Cryptocurrencies by Market Capitalization" as of April 8, 2019https://coinmarketcap.com/ 6 There are mix types of four collateralized types such as partially fiatcollateralized stablecoins. 7 BTC is a currency unit of bitcoin.…”

Section: Non-collateralized Mechanisms: a Surveymentioning

confidence: 99%

What is Stablecoin?: A Survey on Price Stabilization Mechanisms for Decentralized Payment Systems

Mita

Ito

Ohsawa

et al. 2019

2019 8th International Congress on Advanced Applied Informatics (IIAI-AAI)

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Since the first theoretical concept of blockchains was proposed, over 100 digital currencies have been issued by online platformers as cryptocurrencies and traded by online consumers mainly in emerging countries. From the perspective of online payment systems, several studies have regarded blockchains as decentralized payment systems (DPSs), enabling international payment with lower cost and higher traceability with sophisticated peer-to-peer protocols in contrast to other centralized systems. Despite the advantages, DPSs are not chosen by the owners of online shops due to the high volatility of cryptocurrency prices. Stablecoins are cryptocurrencies with price stabilization mechanisms to match the price of another currency with lower volatility. Our motivation is to gather various price stabilization mechanisms for the purpose of comparing them from the perspective of implementation and enterprise usage. After dividing the methods into four collateral types (fiat, crypto, commodity, and non-collateralized) and two layers (protocol and application), we show that non-collateralized stablecoin on the application layer is the simplest approach for implementation. Moreover, we discuss their connection with traditional economic studies on Hayek money, Seigniorage Share, and Tobin tax. Some current stablecoin projects are also discussed and compared. This is the first survey of stablecoins to the best of our knowledge.

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“…In this regard, the Kingdom of Saudi Arabia like other nations is also adopting Blockchain technology in its various sectors for more efficient, reliable and integrated flow of information [4]. Banking sector is shifting towards blockchain as it offer a number of features which are not offered by traditional banking systems [5], [6]. These features among others include transparency, trustworthiness, availability of resources, efficacy, availability and integrity of assets through ledger [7].…”

Section: Introductionmentioning

confidence: 99%

Employing Takaful Islamic Banking through State of the Art Blockchain: A Case Study

Abdeen¹,

Jan²,

Khan³

et al. 2019

IJACSA

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Takaful -an Islamic alternative to conventional insurance -is fast becoming one of the most important constituents of modern Islamic financial market. The fundamental difference between the two forms of risk mitigation is entrenched from the type of contract selected. The conventional insurance work on the principle of bilateral contracts between the customer (insured) and insurance provider where the insured pay regular premium in return for payment of compensation, in case of a predefined event occurs. On the other hand, Takaful works on the principle of mutual guarantee, cooperation and indemnity where the participants in the scheme mutually insure each other. The Takaful providers are mainly responsible for managing, administering and investigating the Takaful funds according to Islamic laws. This studies provides a decentralized architecture that securely implements Takaful risk mitigation system according to its principles. Since all major banking sectors are shifting towards Blockchain technology, as it is currently the only viable solution to offers security, transparency, integrity of resources and ensure trustworthiness among customers. The proposed studies offer state-of-the-art Blockchain technology and focus provide a Takaful system that strictly follows the underlying Islamic laws for this risk mitigation system. Moreover, the proposed platform provides all Takaful transactions over Blockchain that brings confidence and transparency to the community involved in the process.

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Banking with blockchain-ed big data

Cited by 187 publications

References 16 publications

Innovation and Challenges of Blockchain in Banking: A Scientometric View

Innovation and Challenges of Blockchain in Banking: A Scientometric View

What is Stablecoin?: A Survey on Price Stabilization Mechanisms for Decentralized Payment Systems

Employing Takaful Islamic Banking through State of the Art Blockchain: A Case Study

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