Smart Contract Technology Research Articles

HOW CAN BLOCKCHAIN (BC) AND SMART CONTRACT (SC) TECHNOLOGIES FACILITATE THE CIRCULAR ECONOMY (CE) IN CONSTRUCTION

This research aims at examining how blockchain and smart contract technologies can enhance the circular economy in construction. In this quantitative research, data was collected from 134 construction industry professionals from different countries with majority from the UK and Australia by an online questionnaire. The research targeted respondents who possessed certain levels of experience in the field of engineering, construction, project management, and consultation and, therefore, used purposive sampling. An analysis of the survey data indicated that there was a level of support for the application of blockchain (BC) and smart contract (SC) technologies in enhancing circular economy practises. Industry professionals provided higher consensus regarding the benefits of these technologies for promoting circular economy in construction, with mean scores in all the statements above 4.6 on a 5-point scale. The pre to posttest findings were statistically significant t (58.00) p < .000 indicating that the participants’ views shifted from being neutral about the technologies’ advantages. From these findings, the research suggests awareness creation and training, implementation partnership models, policy and incentives support, and more research on the application of BC and SC technologies in the construction sector circular economy.

HOW CAN BLOCKCHAIN (BC) AND SMART CONTRACT (SC) TECHNOLOGIES FACILITATE THE CIRCULAR ECONOMY (CE) IN CONSTRUCTION

This research aims at examining how blockchain and smart contract technologies can enhance the circular economy in construction. In this quantitative research, data was collected from 134 construction industry professionals from different countries with majority from the UK and Australia by an online questionnaire. The research targeted respondents who possessed certain levels of experience in the field of engineering, construction, project management, and consultation and, therefore, used purposive sampling. An analysis of the survey data indicated that there was a level of support for the application of blockchain (BC) and smart contract (SC) technologies in enhancing circular economy practises. Industry professionals provided higher consensus regarding the benefits of these technologies for promoting circular economy in construction, with mean scores in all the statements above 4.6 on a 5-point scale. The pre to posttest findings were statistically significant t (58.00) p < .000 indicating that the participants’ views shifted from being neutral about the technologies’ advantages. From these findings, the research suggests awareness creation and training, implementation partnership models, policy and incentives support, and more research on the application of BC and SC technologies in the construction sector circular economy.

EXPLORING OPPORTUNITIES OF DIGITAL TECHNOLOGIES FOR ENHANCING EFFICIENCY IN THE CIRCULAR ECONOMY WITHIN THE CONSTRUCTION INDUSTRY

The construction industry is the largest consumer of raw materials and the largest generator of waste all over the world making it vulnerable to sustainability challenges. This research aims at establishing how blockchain (BC) and smart contract (SC) could improve circular economy strategies in construction industries. The research method used in the study is quantitative and data was collected through an online survey of 134 construction industry professionals from different countries with the most from the United Kingdom and Australia. The results of the study show that there is great potential for the enhancement of resource efficiency and efficiency of waste management within the construction sector through the adoption of BC and SC technologies but these are constrained by the following challenges. These are high infrastructure costs, lack of digital skills, and issues to do with security. The study recognises financial stability, organisational management, and government support as enablers in the adoption of the technology. Thus, the study enriches the existing body of knowledge by presenting a holistic view of the role of digital technologies in enabling circular economy in construction. The paper provides the concrete suggestions to the representatives of the tourism industry, stressing the need for the staged implementation strategies, sufficient technical support, and cooperation with other industries. This study provides evidence that despite the barriers, the benefits of adopting BC and SC technologies in construction circular economy practises are compelling enough to warrant implementation, given the right enabling environment.

Legal Review of the Use of Smart Contracts in Cyber Notary Services with Blockchain Security Based on the Perspective of UUJN and UU ITE

This study examines the application of smart contracts in cyber notary services in Indonesia that use blockchain security and then conducts an in-depth analysis of regulations that accommodate their relationship with UUJN and UU ITE. The concept of smart contracts is based on the need for fast, cheap, objective, real-time and online exchange of goods and services, so that it is widely used in electronic transactions. Basically, electronic contracts are the same as contracts in general, the only difference is that electronic contracts are made through an electronic system while conventional contracts are made directly in oral or written form, as well as smart contracts that are present through an electronic program in the field of contracts based on the principle of freedom of contract regulated in the third book of the Civil Code, and Law Number 19 of 2016 concerning Amendments to Law Number 11 of 2008 concerning Information and Electronic Transactions or the ITE Law, in addition to its implementation regulated in Government Regulation Number 71 of 2019 concerning the Implementation of Electronic Systems and Transactions or PP PSTE and Government Regulation Number 80 of 2019 concerning Trade through electronic systems hereinafter referred to as PP PMSE. Smart Contract technology with blockchain security is undeniably used in the notary profession, where the notary's authority is stated in Article 15 of the Notary Law that the notary is authorized to make authentic deeds, but there are problems in implementing smart contracts in making authentic deeds with blockchain security, namely in the legal certainty regarding the validity and strength of the authentic deed. So that regulations are needed that regulate the application of smart contracts in making authentic deeds with blockchain security in cyber notary services and adequate technology and regulations are needed to support this smart contract service.

Information and computing system based on smart contracts for online voting

The purpose of research.The actual problem in voting systems is not the prevention of fraud and the failure to ensure the integrity of elections. Therefore, the task of building a system of safe and transparent voting is urgent.The purpose of the research is design and develop an information and computing system based on smart contacts for online voting.Methods. The presented system has the form of a decentralized system that can overcome a number of limitations, such as the likelihood of human error, falsification of voting results and problems with accessibility, using blockchain technology, which provides protection against unauthorized access and transparent record keeping.The use of smart contract technology also ensures that the voting process will be automated, transparent and secure. Thanks to the ability to execute self-executing contracts based on predefined rules, smart contracts can eliminate the need for intermediaries, reduce the likelihood of errors and ensure a high degree of accountability.Results. In order to evaluate the effectiveness of the developed system, testing was carried out, after which a comparative analysis was made with other similar systems.The system can ensure that votes are counted accurately and cannot be manipulated, thereby increasing confidence in the results of the voting process. In addition, the system can potentially reduce the costs associated with traditional voting methods and improve accessibility for voters, since it can be accessed remotely via a web interface.In general, the system will be of interest to various organizations and individuals seeking to conduct safe and transparent voting processes.Conclusion. The use of this software product will provide security and convenience when participating in various online voting, reliable storage of votes and the provision of detailed statistics on the conducted voting.

Futures Trading Security Based on Smart Contract Technology

Futures Trading Security Based on Smart Contract Technology

SIoT identity management with the ability to preserve owner privacy and built‐in resistance to Sybil attacks

SummaryThe Social Internet of Things (SIoT) allows for more efficient and intelligent communication between entities (humans and objects). Managing the digital identity of objects, protecting the owner's privacy, and resisting impersonation attacks are crucial challenges in SIoT. On the other hand, the classic centralized identity provider servers contain valuable information for hackers and malicious parties. Effective solutions can be presented using decentralized technologies such as blockchains. This paper proposes a decentralized identity management system for SIoT based on smart contract technology. This system drives object identity control; conversely, a zero‐knowledge‐based protocol and double‐spend prevention ideas are proposed for privacy preservation and Sybil attack resistance, respectively. The central idea is to implement self‐sovereign identity (SSI) so that even certifiers are not privy to object‐sensitive information. Additionally, it attempts to prevent the owner from creating Sybil objects using the web of trust method. The method's scalability and convergence can be proven by considering all acknowledgment nodes and different paths. This method was compared with the most novel available methods; the results from this comparison depict the scalability and effectiveness of the proposed method for large networks.

Research on Smart Contract Verification and Generation Method Based on BPMN

The post-deployment challenges in developing and upgrading blockchain smart contracts necessitate a high level of accuracy in their development and business logic. However, current methodologies for verifying the business logic of smart contracts frequently fail to address their alignment with end-user business requirements. This paper introduces a two-step language transformation process to bridge this gap. Initially, we establish a transformation rule from the Business Process Model and Notation (BPMN) to Prolog, enabling the translation of business processes into a Prolog representation. This step not only validates the business process logic but also ensures it meets user specifications. Subsequently, we introduce a transformation rule from the BPMN to Go, which facilitates the transformation of the BPMN model, once validated, into a Go language smart contract. To enhance usability, we have engineered a dedicated tool that streamlines this transformation process. We present a case study involving a banking loan process to exemplify the utility of our tool in creating BPMN diagrams, conducting requirement and syntax validations, and effecting the transformation to Go smart contracts. The case study and empirical results suggest that our methodology and the accompanying tool mitigate the complexities inherent in smart contract development. They also ensure the fidelity of business logic to user demands, thereby promoting the broader adoption of blockchain smart contract technology.

MERAPATKAN JURANG PENGETAHUAN: MENGHARMONIKAN KONSEP TEKNOLOGI KONTRAK PINTAR DAN PERSPEKTIF HUKUM ISLAM

The rapid development in technology, especially smart contract technology, poses challenges in aligning its principles with the Shariah perspective. Although this technology has great potential to facilitate human affairs in various fields, including the financial, zakat and halal sectors, the gap between Shariah researchers and the understanding of this technological innovation is wide due to the complexity of smart contracts involving technical aspects and new innovations. Therefore, the purpose of this study is to explore the challenges in understanding smart contract technology from the perspective of Islamic law. A qualitative approach based on library research was applied to achieve the objectives of the study by referring to relevant documents and literature. The collected data was then analyzed using thematic content analysis methods, enabling the identification of themes and patterns in the literature related to smart contracts and Shariah principles. The results found that there is a significant gap in the understanding of smart contracts among Shariah researchers, mainly due to the technical complexities involved and limited accessibility to relevant information. To address the knowledge gap, it is important to increase access to comprehensive resources that describe the technical aspects of smart contracts along with Shariah principles. Collaboration between technologists and Shariah scholars are important to facilitate mutual understanding and bridge the gap between the two domains. Additionally, ongoing research and discourse is encouraged to refine the understanding of smart contracts within the Shariah framework.

Blockchain-based concept for total site heat integration: A pinch-based smart contract energy management in industrial symbiosis

Industrial symbiosis has gained prominence in pursuing sustainable industrial practices, aiming to optimise resource utilisation and reduce environmental impacts. A critical aspect of this endeavour is the efficient management of energy resources within an industrial ecosystem. This paper presents a novel approach to enhance Total Site Heat Integration (TSHI) implementations by employing Blockchain as a facilitator for decentralised energy management. TSHI is an efficient and widely applied method for industrial symbiosis concerning energy flows, which employs the steam mains in site utility systems as the platform for exchanging heat between industrial processes at various temperature levels. It is shown that the synergy of Pinch Analysis and Smart Contract technologies is capable of facilitating energy integration of processes belonging to independent market actors, compared with the currently dominant integration inside a single company. The proposed framework leverages Blockchain as a distributed ledger to enable secure, transparent, and automated energy management across multiple industrial entities in an industrial symbiotic network. The integration of Pinch Analysis principles ensures that the Heat Integration process is optimised to improve the overall energy efficiency. Smart contracts enable automatic negotiation and execution of energy transactions based on predefined rules, minimising the time lag for concluding deals on energy resource exchange and conservation. This paper examines several scenarios to illustrate the implementation of the proposed Blockchain-based TSHI concept within an industrial symbiosis network. It is demonstrated that up to 16 % cost savings are possible by simply enabling transparency via Blockchain. The results could drive innovative development to revolutionise decentralised energy management in a complex industrial ecosystem, especially by synchronising energy exchanges in time.

ANALYSIS OF THE USE OF BLOCKCHAIN AND SMART CONTRACT TECHNOLOGIES FOR MANAGEMENT AUTOMATION AND ENSURING BUSINESS RESILIENCE

Increasing competition, the need to enhance efficiency and transparency of business processes, as well as the requirements to ensure the security and reliability of operations, demand new tools and approaches for automating management and ensuring the sustainability of the enterprise. Currently, it is blockchain and smart contract technologies that are opening up vast opportunities for this. Therefore, the research is aimed at a comprehensive analysis of the features and directions of using blockchain and smart contract technologies for automating management and ensuring the sustainability of the enterprise. Within the research, it has been proven that the use of blockchain and smart contract technologies creates a flexible and secure process for developing conditions and strategies that allow an enterprise to function effectively and remain capable of ensuring its own progressive development even in conditions of high stochasticity, economic turbulence, or crises. It is concluded that among the main directions where the use of blockchain technologies for ensuring enterprise resilience is worthwhile, the following should be highlighted: supply chain management, balanced management, security management, and basic risk management, as well as managing relationships with customers and partners. In unity, these outlined directions establish the principles of automating enterprise management, enhance its ability to function effectively, and direct its progressive development. It is concluded that among the main directions where the use of smart contracts for ensuring enterprise resilience is beneficial, the following should be highlighted: access and security management, remote tracking of resource utilization, automation of production and commercial processes, improvement of customer service, and management of data processing workflows. In unity, these outlined directions establish the principles of enterprise management automation, guiding and expanding the enterprise's capabilities for progressive development. In the context of ensuring enterprise resilience, the goal of applying smart contracts and blockchain technologies can vary. However, the use of these outlined technological solutions should guarantee the enterprise's ability to withstand external and internal influences.

Назначение справедливых цен на основе смарт-контрактов (на примере музейной организации)

The article is devoted to the problem of ensuring fair pricing on the basis of smart contract technologies. Through the use of the Internet of Things, electronic payments and big data analysis, a more precise evaluation of consumption can be made based on measuring the time of various consumer actions. The method of research is the analysis of the decision-making process on the price, as well as the impact of modern digital technologies on it. The result of the study was the identification of the consequences of precise value in pricing and the pro-cess of concluding market agreements, including 1) the extension of the tariff payment model to the area of dis-crete sales of goods; 2) the consideration of consumers' actions as conditions of pricing and the subject of agreements; 3) inclusion of the transfer of information by consumers about themselves in the subject of ex-change; 4) reduction of transaction costs due to the automation of forced execution of contract terms. Conclu-sions are presented about the possibilities of comparing the value of goods by the time of their consumption in the sum of all human lives on the planet and the development of lean technologies for the use of limited resources for the maximum well-being of people in the world.

A Review of Blockchain-Based Research on E-Health Data Sharing

With the development of medical data informatization, the data security, data privacy, and data controllability of electronic medical data with patient's personal privacy have gained social attention. Blockchain technology has decentralized characteristics, and the development of blockchain technology provides an effective solution for the secure sharing of e-medical data. Many scholars have proposed e-medical data security sharing solutions based on blockchain technology, and these solutions have attempted to solve the security problems encountered in sharing traditional e-medical data. By summarizing and analyzing the schemes in this field, this study analyzes the advantages, disadvantages, and challenges that the current mainstream schemes have, mainly in terms of blockchain data security storage, access control security sharing, and so on, in order to promote the further development of the e-medical data security sharing scheme based on blockchain technology. This study analyzes the blockchain-based e-medical data security sharing scheme proposed by scholars by analyzing the blockchain technology, cryptography technology, smart contract technology, P2P network technology and other related topics. Through systematic analysis and comparison, it explores the challenges of the current research and provides references for the future proposals of blockchain technology-based schemes.

Blockchain and Smart Contracts Based Agricultural Supply Chain

Supply chain management (SCM), product traceability, and product quality certification are some of the initial prominent uses of blockchain technology. This is because blockchain technology is built on trust and cannot be changed. The popularity of blockchain technology is increasing as it is trustworthy and cannot be changed; hence making traceability easier for information such as where food came from, thus essential for managing the agricultural food supply chain (SC). On the contrary, suggested SCM systems premised on smart contract technology and blockchain tend to be specifically apply to production and production processes. Through qualitative research, this paper suggests framework for adoption of smart contracts based on Ethereum in the agri-food SC, with the aim to establish means to adopt blockchain for checking food quality and origins in the agri-food supply chain. Remix IDE is utilised to build and test the smart contract. The significance of the framework is realised through ensuring the traceability of product safety and quality.

Research on blockchain smart contract technology based on resistance to quantum computing attacks.

In recent years, blockchain technology has developed rapidly and has been widely used in medical, financial, energy and other fields. However, in the process of practical application, each blockchain is a small independent ecosystem, with all transactions and operations limited to the chain, resulting in a large number of mutually heterogeneous to independent blockchains. It presents challenges for cross-chain interactions, cross-organization data sharing, and cross-blockchain expansion, and hinders the wider application of blockchain technology. In addition, the traditional digital signature method based on elliptic curve cipher faces the threat of being cracked by quantum computing attacks. To solve the aforementioned problems, this paper proposed a blockchain smart contract technique based on quantum computing attack resistance(BSCTQCAT). The technique first introduces the digital signature of the lattice cipher into the blockchain to resist the quantum search algorithm attack. Then, based on the smart contract authentication scheme, the nodes on multiple heterogeneous chains are organized into an identity agent layer P2P network, through which transactions on the chain will establish a credible identity management and message authentication mechanism between different chains, solving the current problem that each chain is difficult to communicate with each other. In this paper, the performance of the algorithm is evaluated by simulating the Bitcoin transaction scenario and analyzing the experimental data.

DEVELOPMENT OF A BLOCKCHAIN PLATFORM FOR AGRICULTURAL TRADE

The article is devoted to the development of a blockchain platform, which is based on the use of smart contract technology and is designed to provide an environment for concluding transactions between agricultural producers and their buyers. Currently, the technology of a distributed registry or Blockchain has received great attention in the field of software development. In many countries, this technology has been introduced in various areas of the economy. There are a large number of companies that have set themselves the goal of understanding the options for using technology to find business development prospects, reduce costs and optimize current processes. Blockchain technology is one of the end-to-end technologies within the framework of the national Digital Economy project

Intelligent Contracts and the Principle of Contractual Freedom: A Classical Legal Examination in the Era of Emerging Technologies

The development of smart contract technology has garnered widespread attention in the legal field. This study, rooted in the principle of contractual freedom, delves into the impact of smart contract technology on the expression of parties' free will and analyzes the challenges it poses to legal rules and practices. Through a comparative analysis of smart contracts and traditional contracts, this research reveals the advantages of smart contracts in terms of contract design, execution efficiency, and transparency. While smart contract technology brings innovative changes to contract law, it necessitates profound reflections within the legal community and legal practice on how to strike a balance between free will and technological developments.

Analysis of Coercion-Resistant for E-Voting System based on Blockchain

Abstract: Election absenteeism rates are steadily rising, partly a result of the distance required to cast a vote. The use of electronic voting procedure would eliminate the need for travel and enhance voter turnout. In addition, compared to the conventional paper ballot voting technique, this reduces dangers like manipulations and produces results more quickly. A remotely electronic voting system should, nevertheless, adhere to the highest standards of security, dependability, and transparency given the significance of an election. Numerous remote e-voting systems, many of which are based on blockchain technology, were examined in this literature review. Blockchain technology provides for the removal of the Trusted Third Party (TTP) and the decentralization of transactions while also providing transparent and completely secure data storage, making it a new technical foundation for many different types of IT applications. The use of smart-contract technology, which automates and executes user agreements, is also permitted. The authors of this study examine the most insightful blockchain-based e-voting options. The lack of openness and auditability in conventional voting methods can be addressed by blockchain technology. A reliable computing platform is offered by running a self-enforcing e-voting system on a blockchain for real-time data verification

스마트 콘트랙트의 금융법적 문제와 규제 수단에 대한 검토

Recent interest rate rises and economic unrest have caused a significant contraction in the decentralized financial industry. The large-scale decline compared to the traditional institutionalized financial industry shows that the right level of financial regulation can help to revitalize the market. As such, the need for regulation in the decentralized financial industry is increasingly recognized, but the discussion is limited to the characteristics of the underlying virtual assets, and there is a lack of discussion on the technologies that form the basis of the decentralized financial industry, such as smart contract.
 There is much debate about the definition of a smart contract, but basically, a smart contract can be defined as computer code, implemented on blockchain technology, that, upon the occurrence of a specified condition or conditions, is capable of running automatically according to pre-specified functions. The origin of smart contract technology does not necessarily require blockchain technology, but the current usage and practical implementation of the term usually involves blockchain technology. These smart contracts are associated with various legal issues due to the important characteristics of (1) anonymity, (2) inconsistency between intent and code content(Similar to the issue “der Unstimmigkeiten von Willen und Erklärung”), (3) circumvention, and (4) decentralized autonomous organization.
 The existing regulatory discourse is excellent at achieving its objectives, but it has limitations in terms of (1) specificity and (2) voluntariness. A new regulatory approach needs to consider the specific characteristics of smart contract, the main transaction method of Decentralized finance, while encouraging voluntary responses from individuals. The Smart Contract Self-Review Board, Private Key Custodian Organization, and Entrusted Certification System are solutions based on these requirements, but it is difficult to judge that they completely solve the legal problems of smart contracts, and further discussion is needed on a regulatory method with an incentive structure that can attract voluntarism.

Travel Plan Sharing and Regulation for Managing Traffic Bottleneck Based on Blockchain Technology

To alleviate traffic congestion, it is necessary to effectively manage traffic bottlenecks. In existing research, travel demand prediction for traffic bottlenecks is based on travel behavior assumptions, and prediction accuracy is low in practice. Thus, the effect of traffic bottleneck management strategies cannot be guaranteed. Management strategies are often mandatory, leading to problems such as unfairness and low social acceptance. To address such issues, this paper proposes managing traffic bottlenecks based on shared travel plans. To solve the information security and privacy problems caused by travel plan sharing and achieve information transparency, travel plans are shared and regulated by blockchain technology. To optimize the operation level of traffic bottlenecks, travel plan regulation models under scenarios where all/some travelers share travel plans are proposed and formulated as linear programming models, and these models are integrated into the blockchain with smart contract technology. Furthermore, travel plan regulation models are tested and verified using traffic flow data from the Su-Tong Yangtze River Highway Bridge, China. The results indicate that the proposed travel plan regulation models are effective for alleviating traffic congestion. The vehicle transfer rate and total delay rate increase as the degree of total demand increases; the vehicle transfer rate increases as the length of the time interval decreases; and the vehicle transfer rate and total delay rate increase as the number of vehicles not sharing their travel plans increases. By using the model and method proposed in this paper, the sustainability of urban economy, society, and environment can be promoted. However, there are many practical situations that have not been considered in this paper, such as multiple entry and exit bottlenecks, multiple travel modes, and other control strategies. In addition, this paper considers only one bottleneck rather than road networks because of the throughput limitations of blockchain technology.