Wust, Karl;
Gervais, Arthur;
(2018)
Do you Need a Blockchain?
In:
2018 Crypto Valley Conference on Blockchain Technology (CVCBT).
(pp. pp. 45-54).
IEEE: Zug, Switzerland.
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Abstract
Blockchain is being praised as a technological innovation which allows to revolutionize how society trades and interacts. This reputation is in particular attributable to its properties of allowing mutually mistrusting entities to exchange financial value and interact without relying on a trusted third party. A blockchain moreover provides an integrity protected data storage and allows to provide process transparency. In this paper we critically analyze whether a blockchain is indeed the appropriate technical solution for a particular application scenario. We differentiate between permissionless (e.g., Bitcoin/Ethereum) and permissioned (e.g. Hyperledger/Corda) blockchains and contrast their properties to those of a centrally managed database. We provide a structured methodology to determine the appropriate technical solution to solve a particular application problem. Given our methodology, we analyze in depth three use cases — Supply Chain Management, Interbank and International Payments, and Decentralized Autonomous Organizations and conclude the article with an outlook for further opportunities.
| Type: | Proceedings paper |
|---|---|
| Title: | Do you Need a Blockchain? |
| Event: | 2018 Crypto Valley Conference on Blockchain Technology (CVCBT) |
| Dates: | 20 Jun 2018 - 22 Jun 2018 |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1109/cvcbt.2018.00011 |
| Publisher version: | https://doi.org/10.1109/CVCBT.2018.00011 |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10182342 |
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