Risks of Unregulated Use of Blockchain Technology in the Financial Markets

Amosova, Nataliya A.; Kosobutskaya, Anna Yu.; Rudakova, Olga S.

doi:10.2991/emle-18.2018.3

Cited by 11 publications

(7 citation statements)

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“…In addition to fast data processing, electric vehicle energy trading also requires that the developers of smart contracts should gain sufficient handson experience in writing bug-free smart contracts. The bugs in the smart contracts can change the functionality of smart contracts for harmful purposes [28], [29] and significantly degrade the system throughput.…”

Section: B Fast Processing Of Transactionsmentioning

confidence: 99%

“…In a blockchainbased solution, cryptocurrencies can be accessed and transferred online across borders for any illegal activities. According to Financial Action Task Force (FATF) recognition, any virtual currency that can be converted back and forth in exchange for physical currency can support money laundering or financing terrorist activities [29]. Usually, financial institutions such as the state bank of a country develop monetary policies to control and regulate the flow of money in the market.…”

Section: E Legalization Of Blockchain Technologymentioning

confidence: 99%

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Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

Al-Saif

Ahmad

Yaqoob³

et al. 2021

IEEE Access

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Section: B Fast Processing Of Transactionsmentioning

confidence: 99%

Section: E Legalization Of Blockchain Technologymentioning

confidence: 99%

Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

Al-Saif

Ahmad

Yaqoob³

et al. 2021

IEEE Access

View full text Add to dashboard Cite

“…In addition to fast data processing, electric vehicle energy trading also requires that the developers of smart contracts should gain sufficient hands-on experience in writing bug-free smart contracts. The bugs in the smart contracts can change the functionality of smart contracts for harmful purposes [28,29] and significantly degrade the system throughput.…”

Section: B Fast Processing Of Transactionsmentioning

confidence: 99%

“…In a blockchain-based solution, cryptocurrencies can be accessed and transferred online across borders for any illegal activities. According to Financial Action Task Force (FATF) recognition, any virtual currency that can be converted back and forth in exchange for physical currency can support money laundering or financing terrorist activities [29]. Usually, financial institutions such as the state bank of a country develop monetary policies to control and regulate the flow of money in the market.…”

Section: E Legalization Of Blockchain Technologymentioning

confidence: 99%

Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

Al-Saif¹,

Ahmad²,

Salah³

et al. 2021

Preprint

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Today's technologies, techniques, and systems leveraged for managing energy trading operations in electric vehicles fall short in providing operational transparency, immutability, fault tolerance, traceability, and trusted data provenance features. They are centralized and vulnerable to the single point of failure problem, and less trustworthy as they are prone to the data modifications and deletion by adversaries. In this paper, we present the potential advantages of blockchain technology to manage energy trading operations between electric vehicles as it can offer data traceability, immutability, transparency, audit, security, and confidentiality in a fully decentralized manner. We identify and discuss the essential requirements for the successful implementation of blockchain technology to secure energy trading operations among electric vehicles. We present a detailed discussion on the potential opportunities offered by blockchain technology to secure the energy trading operations of electric vehicles. We discuss several blockchain-based research projects and case studies to highlight the practicability of blockchain technology in electric vehicles energy trading. Finally, we identify and discuss open challenges in fulfilling the requirements of electric vehicles energy trading applications.

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“…Swan [1] represented some technical challenges in terms of throughput, latency, security, and usability, among others. Amosova [27] analyzed the risks of unregulated use of blockchain technologies in the financial market from the perspectives of law enforcement agencies, financial institutions, civil societies, individual persons, and regulators.…”

Section: Literature Reviewmentioning

confidence: 99%

A Critical Review of Concepts, Benefits, and Pitfalls of Blockchain Technology Using Concept Map

Islam¹,

Munim²,

Oishwee³

et al. 2020

IEEE Access

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Blockchain is relatively a new area of research. However, a surge of research studies on the blockchain has taken place in recent years. These research studies have mostly focused on designing and developing conceptual frameworks to build more reliable, transparent and efficient digital systems. While blockchain brings a wide variety of benefits, it also imposes certain challenges. Therefore, the objective of this research is to understand the properties of blockchain, its current uses, observed benefits and pitfalls to provide a balanced understanding of blockchain. A systematic literature review approach was adopted in this paper in order to attain the objective. A total of 51 articles were selected and reviewed. As outcomes, this research provides a summary of the state-of-the-art research studies conducted in the area of blockchain. Furthermore, we develop a set of concept maps aiming to provide in-depth knowledge on blockchain technology for its efficient and effective usage in the development of future technological solutions. INDEX TERMS Blockchain, concept map, literature review, critical analysis, smart contracts.

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Risks of Unregulated Use of Blockchain Technology in the Financial Markets

Cited by 11 publications

References 0 publications

Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

Blockchain for Electric Vehicles Energy Trading: Requirements, Opportunities, and Challenges

A Critical Review of Concepts, Benefits, and Pitfalls of Blockchain Technology Using Concept Map

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