Reducing transaction costs of tradable permit schemes using Blockchain smart contracts

Shahab, Sina; Allam, Zaheer

doi:10.1111/grow.12342

Cited by 39 publications

(19 citation statements)

References 37 publications

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“…On this front, modern technologies have become accessible and practical, especially due to availability of wearables (including those gathering biodata) and urban sensors and data collection techniques that not only allow people to keep tab of their health, but also provide large datasets that could be used to improve the liveability of the area. Finally, the land use approach of this concept gains from the use of technologies as it can optimally ensure that cities have sufficient land reserves for playgrounds, recreation areas and foot walk and bicycle lanes to achieve the desired dimensions [67] and for maintaining an optimal density that would be supported by available resources.. On this front, the use of Blockchain, smart contracts and fiscal instruments can be tallied to urban development rights and transaction costs to ensure both efficiency and performance while catering for long term policy agendas [68].…”

Section: On Smart Cities Collective Intelligence and Place Identitymentioning

confidence: 99%

Introducing the “15-Minute City”: Sustainability, Resilience and Place Identity in Future Post-Pandemic Cities

et al. 2021

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The socio-economic impacts on cities during the COVID-19 pandemic have been brutal, leading to increasing inequalities and record numbers of unemployment around the world. While cities endure lockdowns in order to ensure decent levels of health, the challenges linked to the unfolding of the pandemic have led to the need for a radical re-think of the city, leading to the re-emergence of a concept, initially proposed in 2016 by Carlos Moreno: the “15-Minute City”. The concept, offering a novel perspective of “chrono-urbanism”, adds to existing thematic of Smart Cities and the rhetoric of building more humane urban fabrics, outlined by Christopher Alexander, and that of building safer, more resilient, sustainable and inclusive cities, as depicted in the Sustainable Development Goal 11 of the United Nations. With the concept gaining ground in popular media and its subsequent adoption at policy level in a number of cities of varying scale and geographies, the present paper sets forth to introduce the concept, its origins, intent and future directions.

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Section: On Smart Cities Collective Intelligence and Place Identitymentioning

confidence: 99%

Introducing the “15-Minute City”: Sustainability, Resilience and Place Identity in Future Post-Pandemic Cities

et al. 2021

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“…Floyd [50] stated that commercial use of blockchain is going to advance from an experimental stage to presenting solutions to real-world problems, where big Blockchain technology can be used to reduce direct and indirect costs in transactions within the tourism industry. Shahab and Allam [46] examined the use of blockchain technology for lowering the costs which are a result of tradable permit schemes. Based upon their research results, they concluded that there are benefits of the use of blockchain smart contracts in the implementation of tradable permit schemes and that, among others, benefits include: (i) increasing the amount of relevant information available to interested actors thus reducing uncertainties; (ii) reducing the amount of irrelevant information available to interested actors thus decreasing complexities; (iii) correcting information asymmetries among the actors involved thus limiting opportunistic behaviors; (iv) lowering the need for the involvement of intermediaries thus decreasing direct monetary costs; and (v) facilitating the linkage between buyers and sellers thus improving trading quality [46] (p. 5).…”

Section: Blockchain Application In the Tourism Industrymentioning

confidence: 99%

Blockchain in the Tourism Industry—A Review of the Situation in Croatia and Macedonia

2020

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As one of the most interactive economic activities, tourism has improved significantly since the Internet allowed customers (travelers) to look for and create their trips without the need to go to a travel agency. Through the development of Internet marketing, tourists are able to receive information in real-time and view them on the screens of their devices (computers, laptops, mobile phones or tablets), and consequently they can create their own content and share it with others. Due to this development, we are witnessing a new phenomenon, so-called app capitalism, in which companies like Uber and Airbnb make money on services and goods they do not own and finding new business models in the tourism sector which enable customer-to-customer models. To be able to respond to these changes, the tourism industry needs to bring together knowledge, money, and technology for the purpose of creating new business models. The development of technology in all social spheres, including tourism, has provided a strong tool for consumers in terms of both acquiring and disclosing information to others. One of the rapidly growing technologies which is also one of the cutting-edge technologies entering tourism is blockchain. Blockchain technology captured worldwide attention in 2017 and its implementation has been revolutionizing various industries (e.g., retail, healthcare, tourism). The aim of this paper is to analyze the potential of the tourism industry in terms of blockchain implementation. Blockchain technology provides significant benefits to the tourism industry since its implementation can help increase competitive advantage, improve customer satisfaction and enhance performance. In this paper, the authors present the current situation in the Republic of Croatia and the Republic of Macedonia regarding the use of blockchain technology in the tourism industry. The main findings of this paper comprise the detection of key areas regarding why blockchain technology is not implemented in the tourist industry, and what processes should be handled. By presenting a case study of the implementation of blockchain technology in tourism, the authors analyze the potential of using blockchain technology in the tourism industry and discuss topics for further research.

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“…Hasan et al [6] underlined that smart contracts could be used to manage shipment conditions, automate payments, legitimize receiver, and issue a refund if violating the predefined conditions. Shahab and Allam [169] indicated that using smart contracts can lower the transaction costs of tradable permission programs. Khatoon [8] mentioned that smart contracts could simplify the transaction process in the healthcare industry and thus reduce the management burden and cut down transaction costs.…”

Section: Rq2 What Are the Benefits Of Smart Contracts Applications In Various Industries From The Procurementmentioning

confidence: 99%

A Review of Smart Contracts Applications in Various Industries: A Procurement Perspective

Chong

Chi

2021

Advances in Civil Engineering

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Smart contracts have been well-received by researchers and practitioners for the unique features of automatic execution, transparency, and nontampering in a blockchain environment. However, little is known about the current development status of knowledge and practice regarding the application of smart contracts in various industries, especially from the procurement perspective. Thus, this paper aims to address the gap with a mixed method of bibliometric analysis and systematic literature review. Based on the evaluation of 174 filtered publications, the review has analyzed the current development status of this research area with its distributions in years and journals, cooperation networks between authors, institutions, and countries, keywords cooccurrence network, and classifications of the application of smart contracts. The results show the application of smart contracts has attracted global attention since 2016 with the Ethereum and Hyperledger fabric as the main platforms in various industries, especially in information communication technology (ICT), public management, supply chain, energy, finance, and healthcare. Various functions and benefits of smart contracts, as well as their potential advantages, have been identified and articulated from the procurement perspective. A research framework has also been developed to highlight future procurement needs in business operations across the industries via an integrated procurement approach of smart contracts.

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Reducing transaction costs of tradable permit schemes using Blockchain smart contracts

Cited by 39 publications

References 37 publications

Introducing the “15-Minute City”: Sustainability, Resilience and Place Identity in Future Post-Pandemic Cities

Introducing the “15-Minute City”: Sustainability, Resilience and Place Identity in Future Post-Pandemic Cities

Blockchain in the Tourism Industry—A Review of the Situation in Croatia and Macedonia

A Review of Smart Contracts Applications in Various Industries: A Procurement Perspective

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