The challenges and countermeasures of blockchain in finance and economics

Zhang, Li; Xie, Yongjun; Yang, Zheng; Xue, Wei; Zheng, Xianrong; Xu, Xiaoxia

doi:10.1002/sres.2710

Cited by 144 publications

(46 citation statements)

References 30 publications

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“…Blockchain is an emerging information technology, which integrates peer-to-peer networks, encryption algorithms, and decentralized storage [ 16 ]. Due to the security and cooperation of blockchain network, financial service is regarded as the best application scenario for this new technology [ 17 ]. There are three types of blockchain, which would be suitable for different scenarios.…”

Section: Literature Reviewmentioning

confidence: 99%

An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China

Dong

et al. 2021

PLoS ONE

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Cross-border transactions have been more and more popular around the world. However, the current cross-border transactions still have risks and challenges, e.g., differences in regulation policies and unbalanced profits of banks. To address this critical issue, we construct a new framework for the transaction system with the support of blockchain technology. In this paper, we propose a new consortium blockchain system, namely asymmetric consortium blockchain (ACB), to ensure the implementation of cross-border transactions. Different from traditional consortium blockchain, the new blockchain system could support the supernode to regulate all the transactions timely. Furthermore, the new smart contract is designed to lower the opportunity loss for each node and make the profits allocation system fairer. In the end, the numerical experiments were carried out based on the transactions of Shenzhen and Hong Kong. The results show that the proposed ACB system is efficient to make the profit allocation fairer for the participants and keep intelligent for the new cross-border transaction system.

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Section: Literature Reviewmentioning

confidence: 99%

An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China

Dong

et al. 2021

PLoS ONE

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“…The application layer produces new financial formats or service models to upgrade the financial system and promote the efficiency and quality of financial operations and services (Zhang et al, 2020). The blockchain technology enriches financial scenes through e-wallets, transaction URLs, major financial APIs, and the integration of online and offline channels.…”

Section: The Blockchain Architecture Literaturementioning

confidence: 99%

Blockchain architecture and its applications in a bank risk mitigation framework

Luo

Yan

2021

Economic Research-Ekonomska Istraživanja

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This study proposes a simple two-period model to consider consumers' borrowing behaviour in a decentralised consensus and information distribution platform. Based on this model, we develop a bank risk mitigation framework and find that decentralised digital identity and encryption technology are the most important factors for attaining market equilibrium between decentralised consensus and information distribution. Specifically, the greater the scope of digital identity construction and the more blockchain consensus records there are, the less likely the borrower will default. Our study provides meaningful practical implications for bankers and policy regulators to help them better understand consumers' borrowing behaviour and decisions to default.

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“…OST at the workplace occurs on every occasion when an individual or group of individuals the "ostracized" disrespects to take actions that engross another operative the "ostracize" when it is accustomed and appropriate to do so (Robinson, O'Reilly & Wang, 2013;Dong et al, 2020). OST is diverse from dynamic customs of impoliteness to other harassments, oppression, and regulatory exploitation in two primary methods (Ferris et al, 2008;Zhang, Xie, Xue, & Xu, 2020). First, relegation is short in communicative strength.…”

Section: Ostracism and Interpersonal Conflictsmentioning

confidence: 99%

Do Narcissists Tend to Reduce Interpersonal Conflicts in Organizations? The Effects of Abusive Supervision on Ostracism and Interpersonal Conflicts

Rasheed¹,

Zaheer

Manzoor³

2021

JEBS

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This study aims to examine the relationship between abusive supervision (ABS) and interpersonal conflicts (IPC) with the mediating role of key variables, ostracism (OST), and moderating role of narcissism (NAR) among the service industry of Pakistan. A convenient sampling technique is used for data collection from employees of public and private commercial banks of Pakistan through a self-administered questionnaire. A total of 650 questionnaires were distributed with a response rate of 38%, as 247 valid responses were received. The findings validated the proposed model with a significant correlation between ABS and OST, provoking IPC in organizations. The mediating role of OST is examined. Full mediation between ABS and IPC is revealed. Moreover, a subordinate’s NAR moderated and weakened the positive relation of ABS and OST and OST and IPC. This study will help employers devise a methodology to minimize IPCs among employees after discovering the reasons for conflicts among them. One reason specified by this theory is ABS. Employers can look upon this study to mitigate conflict in their organization, hampering their strategies to progress. Eventually, this study will contribute to reducing a major threat of the organizations where their manpower is enforced towards burnouts due to the factors discussed here.

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The challenges and countermeasures of blockchain in finance and economics

Cited by 144 publications

References 30 publications

An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China

An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China

Blockchain architecture and its applications in a bank risk mitigation framework

Do Narcissists Tend to Reduce Interpersonal Conflicts in Organizations? The Effects of Abusive Supervision on Ostracism and Interpersonal Conflicts

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