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Context 1
... shown in figure 3, a block contains version number (4 bytes), hash of the previous block (256 bytes), timestamp [15] (seconds, 4 bytes), Nonce (4 bytes), Bits as the current difficulty level (4 bytes) and Markel [16] root hash the transactions [9,10]. ...
Context 2
... fact, not only as part of the PoW puzzle, BC extensively uses hash functions as identifiers of addresses (analogous to a bank account number) as well as transactions as shown in figure 3. However, with the advent of the Merkle Tree [16], all the individual hashes of all the transactions are not needed to be preserved, rather the root has is sufficient. ...
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Citations
... Among the various sectors in blockchain applications, FinTech has emerged as a prominent and promising area for exploration [10]. The global financial system provides services to billions of people daily while managing trillions of cash [11][12][13]. To illustrate this, Figure 1 presents a portrayal of the global debt securities market across the preceding seven years. ...
... Blockchain technology has the potential to address the above issues in financial areas. This potential emanates from blockchain's distinctive characteristics, namely decentralization, multi-party bookkeeping, and immutability [12,14]. The robustness and efficiency of financial systems can be improved through blockchain's decentralized management strategy, particularly in the context of the securities market [13]. ...
... This can potentially lead to information asymmetry issues, resulting in errors or fraud during the transaction and settlement process, which in turn can lead to trust issues for customers [14]. 4) Low security: Currently, the number of participants in the securities market has reached 200 million, with daily trading volumes reaching hundreds of billions of yuan [11][12][13]. ...
As an innovative technology for enhancing authenticity, security, and risk management, blockchain is being widely adopted in trade and finance systems. The unique capabilities of blockchain, such as immutability and transparency, enable new business models of distributed data storage, point‐to‐point transactions, and decentralized autonomous organizations. Here, the authors focus on blockchain‐based securities trading, in which blockchain technology plays a vital role in financial services as it ultimately lifts trust and frees the need for third‐party verification by using consensus‐based verification. The 12 most popular blockchain platforms are investigated and 6 platforms that are related to finance are elaborated on, seeking to provide a panorama of securities trading practices. Meanwhile, this survey provides a comprehensive summary of blockchain‐based securities trading applications. Numerous practical applications of blockchain‐based securities trading are gathered and they are categorized into four distinct categories. For each category, a typical example is introduced and how blockchain contributes to solving the key problems faced by FinTech companies and researchers explained. Finally, interesting observations are provided ranging from mainstream blockchain‐based financial institutions to security issues of decentralized finance applications, aiming to picture the current blockchain ecosystem in finance.
... Some studies discussed the use of Blockchain in stock market transformation (Noble & Patil, 2021). There were considerations for a Blockchain-based hybrid solution (Miraz & Donald, 2018). It is a public ledger that openly shows all trades on the exchange (Bhandarkar et al., 2019). ...
Blockchain implementation of the peer-to-peer transfer of assets, such as stocks, and the working of a stock exchange, its legislative and regulatory issues are topics of researcher interest. The stock market systems globally involve several financial intermediaries who add value, facilitating investors and traders to make their transactions. Blockchain proposed disruption, but the disruptive transformations in the stock markets are complex and have many operational challenges and practical hurdles. While most existing research dealt with disruption and new processes for the stock markets, little research explored the possibility of empowering the existing systems to convince them to make the first steps in a gradual, long transformational journey. This exploratory study examines the use of Blockchain in various areas of the existing stock market ecosystem. Findings from this work help various stakeholders in the stock markets ecosystem make their first moves in their transformation.
... Nowadays, the integration of blockchain technology in applications related to the securities industry mainly addresses the private equity (PE) and digital securities issuance¯elds. Nasdaq, an early online global marketplace for buying and trading [Miraz and Donald (2018)]. Another example is the online retailer Overstock:com which developed an issuance application for the company's newly listed blockchain-based stock, which was approved by the U.S. Securities and Exchange Commission (SEC). ...
... post-trading applications). Among early blockchain-based systems for the secondary market, services is the trading system for London Securities Exchange (LSE) developed by IBM [Miraz and Donald (2018)] and the Australian Securities Exchange (ASX) for¯nancial market services facilitation [Dunkley (2018); Pop et al. (2018)]. ...
... A good example is the Nasdaq Linq [Nair and Bhagat (2020)], a public equity trading solution developed by Nasdaq in collaboration with the blockchain start-up Chain.com [Miraz and Donald (2018)]. This platform enables non-listed users to transfer their equity and perform a public equity transaction settlement. ...
Blockchain is undoubtedly considered one of the most innovative technologies in financial services from the past decade. Interests in blockchain technology continue to grow on a daily basis, while many promising blockchain-enabled applications and services continue to draw financial interest in the industrial sector and the broader financial services communities. Blockchain technology has the potential to streamline lending services and banking, decrease counterparty risk, and reduce settlement times and issuance. It indeed enables authenticated documentation and anti-money laundering (AML)/Know Your Client (KYC) data, minimizing operational ventures and allowing real-time/online validation of financial documents. Furthermore, as blockchain matures, it increases the value of a diversified range of industries and institutes with a better return on investment. However, such organizations must continue to adopt rigorous approaches to enhance their financial services and regulate their policies. In this article, we discuss the current status of blockchain-enabled financial services and applications, in addition to the impacts, implications, and regulations of incorporating blockchain technology in the finance industry. We further tackle the adaptation model for blockchain technology in global banking and provide a vision for the next generation of financial services based on this emerging technology.
... As a decentralized, distributed, and immutable ledger technology operating on p2p network [1], blockchain technology has been applied in many fields to improve security in distributed systems, such as Internet of Things (IoT), healthcare, supply chain, financial services [2], and future energy systems [3]. For example, blockchain has been used to perform security and derivative transactions [4], [5], digital payment [6], [7], [8], data sharing in energy management to address energy traders' privacy in smart power grid [9], [10], a novel blockchainbased energy framework to exchange excess energy among neighboring nodes to ensure privacy preservation [11]. ...
As a distributed technology, blockchain has been applied in many fields. Much research has been done on its inherent security issues. Among these security issues, double spending is one of the most pernicious. Current countermeasures are not systematic, they either focus on monitoring or detection with no effective strategy to prevent future double spending. These countermeasures also have serious drawbacks, such as high network traffic, high CPU utilization, and heavy management overhead. In this paper, we present a systematic approach to address double spending attack on smart grid. A reputable node is selected, which constantly compares all transactions in current time window with previously validated block and current block. Upon discovering conflicting transactions, a warning message with the conflicting transaction and two penalty transactions are broadcasted to the network to stop the current attack and to prevent future attacks. Our experiment has demonstrated our design is highly effective to detect double spending, with short detection time and low CPU utilizations.
... Following that, we read the full text of the articles that were picked, and we were left with 54 papers being considered for our conclusive stage. Finally, we applied the snowballing strategy, also known as the citation chaining technique [42]. Surprisingly, this step resulted in the addition of another ten studies (7 from backward citation and three from forwarding citation). ...
Today, healthcare has become one of the largest and most fast-paced industries due to the rapid development of digital healthcare technologies. The fundamental thing to enhance healthcare services is communicating and linking massive volumes of available healthcare data. However, the key challenge in reaching this ambitious goal is letting the information exchange across heterogeneous sources and methods as well as establishing efficient tools and techniques. Semantic Web (SW) technology can help to tackle these problems. They can enhance knowledge exchange, information management, data interoperability, and decision support in healthcare systems. They can also be utilized to create various e-healthcare systems that aid medical practitioners in making decisions and provide patients with crucial medical information and automated hospital services. This systematic literature review (SLR) on SW in healthcare systems aims to assess and critique previous findings while adhering to appropriate research procedures. We looked at 65 papers and came up with five themes: e-service, disease, information management, frontier technology, and regulatory conditions. In each thematic research area, we presented the contributions of previous literature. We emphasized the topic by responding to five specific research questions. We have finished the SLR study by identifying research gaps and establishing future research goals that will help to minimize the difficulty of adopting SW in healthcare systems and provide new approaches for SW-based medical systems progress.
... Following that, we read the full text of the articles that were picked, and we were left with 54 papers being considered for our conclusive stage. Finally, we applied the snowballing strategy, also known as the citation chaining technique [42]. Surprisingly, this step resulted in the addition of another ten studies (7 from backward citation and three from forwarding citation). ...
Today, healthcare has become one of the largest and most fast-paced industries due to the rapid development of digital healthcare technologies. The fundamental thing to enhance healthcare services is communicating and linking massive volumes of available healthcare data. However, the key challenge in reaching this ambitious goal is letting the information exchange across heterogeneous sources and methods as well as establishing efficient tools and techniques. Semantic Web (SW) technology can help to tackle these problems. They can enhance knowledge exchange, information management, data interoperability, and decision support in healthcare systems. They can also be utilized to create various e-healthcare systems that aid medical practitioners in making decisions and provide patients with crucial medical information and automated hospital services. This systematic literature review (SLR) on SW in healthcare systems aims to assess and critique previous findings while adhering to appropriate research procedures. We looked at 65 papers and came up with five themes: e-service, disease, information management, frontier technology, and regulatory conditions. In each thematic research area, we presented the contributions of previous literature. We emphasized the topic by responding to five specific research questions. We have finished the SLR study by identifying research gaps and establishing future research goals that will help to minimize the difficulty of adopting SW in healthcare systems and provide new approaches for SW-based medical systems’ progress.
... Nowadays, the integration of blockchain technology in applications related to the securities industry mainly addresses the private equity (PE) and digital securities issuance fields. Nasdaq, an early online global marketplace for buying and trading securities (launched in 2014), is a vital example of integrating blockchain technology into an exchange system [82]. Another example is the online retailer Overstock.com ...
... It is worth noting that the applications systems that are officially announced to date focus on the trading and issuance of over-the-counter/public equity (OTC/PE) market securities and the on-exchange market (i.e., post-trading applications). Among early blockchain-based systems for secondary market services is the trading system for London Securities Exchange (LSE) developed by IBM [82] and the Australian Securities Exchange (ASX) for financial market services facilitation [95,96]. ...
... A good example is the Nasdaq Linq [97], a PE trading solution developed by Nasdaq in collaboration with the blockchain start-up Chain.com [82]. This platform enables non-listed users to transfer their equity and perform a PE transaction's settlement. ...
Blockchain is undoubtedly considered one of the most innovative technologies in financial services from the past decade. Interests in blockchain technology continue to grow on a daily basis, while many promising blockchain-enabled applications and services continue to draw financial interests in the industrial sector and the broader financial services communities. Furthermore, as blockchain matures, it increases the value of a diversified range of industries and institutes with a better return on investment. However, such organizations must continue to adopt rigorous approaches to enhance their financial services and regulate their policies. In this article, we discuss the current status of blockchain-enabled financial services and applications, in addition to the impacts, implications, and regulations of incorporating blockchain technology in the finance industry. We further tackle the adaptation model for blockchain technology in global banking and provide a vision for the next generation of financial services based on this emerging technology.
... Blockchain technology has numerous opportunities as far as financial transactions are concerned. In addition to fostering transparency, minimizing internet banking fraud, and eliminating the corruptibility of files and financial data, this technology is also known to decrease transaction costs, eliminate intermediation, and increase operational efficiencies (Miraz & Donald, 2018;Workie & Jain, 2017). Researches have been conducted to describe the Blockchain and the effects of new technology on financial markets especially in the stock markets (Alexis, 2016). ...
... It began in the UAE, Bahrain, and Saudi Arabia, particularly in the financial and public services sectors. When Bahrain concentrated on researching the regulatory implications of blockchain, the United Arab Emirates and Saudi Arabia focused their efforts on studying and reviewing existing and potential blockchain technologies for government, industrial, and commercial services (Alsubaei, 2019 Also known as Distributed Ledger Technology (DLT), Blockchain technology has become one of the newest advancements in the financial markets (Miraz & Donald, 2018). Blockchain is a distributed database shared over a larger computing network. ...
This research examines the impact of board gender diversity on CSR disclosure for Tunisian listed banks during the period 2012–2017. Data for CSR disclosure are collected using the content analysis of the annual reports of the banks. To measure the level of CSR disclosure, we used the grid adopted by Branco and Rodrigues (Corporate Communications: An International Journal 11:232–248, 2006, Journal of Business Ethics 83:685–701, 2008). The results show that board gender diversity affects positively the level of CSR disclosure. This implies that the female representation in the board of directors promotes CSR disclosure by listed Tunisian banks. Furthermore, the level of CSR disclosure is affected positively by the bank size and negatively by the directors independence. The paper contributes to the literature on best practices in corporate governance for financial institutions in emerging markets. The results have implications for banks and policy makers in Tunisia. For banks, it shows the relevance of female representation on boards of directors to meet the CSR reporting needs of the users of annual reports. Policy makers can enforce the presence of women in top management position and more specifically on the boards of directors when drafting corporate governance regulations.KeywordsBoard Gender DiversityCSR DisclosureContent AnalysisBanking Sector
... Blockchain technology has numerous opportunities as far as financial transactions are concerned. In addition to fostering transparency, minimizing internet banking fraud, and eliminating the corruptibility of files and financial data, this technology is also known to decrease transaction costs, eliminate intermediation, and increase operational efficiencies (Miraz & Donald, 2018;Workie & Jain, 2017). Researches have been conducted to describe the Blockchain and the effects of new technology on financial markets especially in the stock markets (Alexis, 2016). ...
... It began in the UAE, Bahrain, and Saudi Arabia, particularly in the financial and public services sectors. When Bahrain concentrated on researching the regulatory implications of blockchain, the United Arab Emirates and Saudi Arabia focused their efforts on studying and reviewing existing and potential blockchain technologies for government, industrial, and commercial services (Alsubaei, 2019 Also known as Distributed Ledger Technology (DLT), Blockchain technology has become one of the newest advancements in the financial markets (Miraz & Donald, 2018). Blockchain is a distributed database shared over a larger computing network. ...
Corporate Social Responsibility in the UAE is becoming one of the important strategic goals of the country for many decades. Masdar Company is a leading sustainable city in the Middle East region. In this paper, we highlight the importance of CSR and sustainability issues for this company. Then, we compare CSR practices reported by Masdar Co. with regards to the Global Reporting Standards GRI standards 2016 as a benchmark. Our results show that Masdar Co. complies with most of the GRI Standards for the full period 2014–2019. Specifically, Masdar Co. was successful to a greater extent with GRI 2016 standards compliance in general disclosures GRI 100, economic disclosures GRI 200, environmental disclosures GRI 300, and social disclosures GRI 400. Moreover, there is an enhancement in the CSR disclosure quality after the year 2016. Future research should compare the ESG disclosure practices of the UAE-listed companies after the adoption of Abu Dhabi Stock Exchange (ADX) ESG disclosure guidance 2019.KeywordsMasdar CoCorporate Social ResponsibilityGRI Standards 2016SustainabilityUnited Arab Emirates
... Also known as Distributed Ledger Technology (DLT), Blockchain technology has become one of the newest advancements in the financial markets (Miraz & Donald, 2018). Blockchain is a distributed database shared over a larger computing network. ...
... Blockchain technology has numerous opportunities as far as financial transactions are concerned. In addition to fostering transparency, minimizing internet banking fraud, and eliminating the corruptibility of files and financial data, this technology is also known to decrease transaction costs, eliminate intermediation, and increase operational efficiencies (Workie and Jain, 2017;Miraz and Donald, 2018). Researches have been conducted to describe the Blockchain and the effects of new technology on financial markets especially in the stock markets (Alexis, 2016). ...
Blockchain technology is a digitized ledger system that allows decentralized access to transactional records. The system ensures that data shared cannot be altered or corrupted in any way. Some banking and securities systems have already adopted the Blockchain on their business. Also, financial markets in the United Arab Emirates (UAE) can benefit from using Blockchain technology by addressing data security issues, cyber fraud, tampering, and corruptibility of financial data. This research paper proposes a feasibility and exploratory study on adopting the Blockchain on UAE from all stockholders perspectives. This study has undertaken based on theoretical and empirical framework using survey analysis. The results received from all stockholders are very significant and are playing an important role on decision-making regarding adopting Blockchain technology in the UAE.KeywordsBlockchainFinancial MarketsImplementationStockholdersSecurities
