Abstract
This article explores four critical groups of systematic risk embedded in smart contract employment using the analytic hierarchy process (AHP). The four principal risk analysis groups include: 1) transparency in the light of corporate governance 2) IT security 3) contract management automation and 4) legality. The AHP assists both decision-makers and stakeholders alike in the evaluation process essential for identifying potential technological constraints posed within a permissioned blockchain environment using peer-to-peer format in the absence of digital currency. Based upon critical assessment, the AHP methodology enables pairwise comparisons among different features and consequently increases the knowledge regarding these attributes in light of the software’s risk assessment.
Highlights
The smart contract has received attention due to both its characteristics and numerous application possibilities, offering users potential cost savings in a variety of conventional commercial aspects
This article explores four critical groups of systematic risk embedded in smart contract employment using the analytic hierarchy process (AHP)
The ensuing body of research provides specific information regarding the hazards of misusing the smart contract from an analytic hierarchy process (AHP) risk assessment perspective
Summary
The smart contract has received attention due to both its characteristics and numerous application possibilities, offering users potential cost savings in a variety of conventional commercial aspects. The objective of this body of research is to provide decision makers with a comparison model in order to assess the identified risks associated with the smart contract. The second section of this paper will provide a definition of risk and its management within a software project as well as the methodology used to identify the four main risk clusters pertaining to the smart contract. The third section will introduce the AHP method including the elemental framework comprising the AHP followed by an application of the AHP with regards to the four critical groups of systematic risk. The final section will provide a summation and discussion of the author’s findings
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