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This paper attempts to provide a careful and balanced look at some of the benefits and challenges of tokenisation of securities. A fundamental problem is the lack of consistency in how 'tokenisation' should be defined. According to a report by McKinsey & Company in 2023, 'Tokenization adoption was poised for success six years ago, but progress was limited ... the path could be different this time'. In the past, tokenisation was: (1) limited to a process of creating a representation of financial, intellectual or physical assets on a blockchain (ie distributed ledger technology [DLT]); and (2) discussed as a narrative of disintermediation and programmability as a basis for efficiency gains. As it became clear that DLT, with its basic game-theoretical approach, comes with high costs and opaque governance, traditional platforms with high efficiency such as the European TARGET2-Security (T2S) with atomic settlement and delivery-versus-payment (DvP) show up as blueprints for efficiency. A proposal of the Bank for International Settlement (BIS) for a unified ledger, Project Guardian of the Monetary Authority of Singapore (MAS), both in 2023, and an announcement of the U.S. Securities Industry and Financial Markets Association (SIFMA) in 2024 about 'settlement on a common regulated venue ... [of] tokenized assets' can be regarded as paradigms for a new and pragmatic approach, with coordination and synchronisation as key objectives in the context of financial market infrastructures. [ABSTRACT FROM AUTHOR]

In modern electrical grids, the numbers of customer-owned distributed energy resources (DERs) have increased, and consequently, so have the numbers of points of common coupling (PCC) between the electrical grid and customer-owned DERs. The disruptive operation of and out-of-tolerance outputs from DERs, especially owned DERs, present a risk to power system operations. A common protective measure is to use relays located at the PCC to isolate poorly behaving or out-of-tolerance DERs from the grid. Ensuring the integrity of the data from these relays at the PCC is vital, and blockchain technology could enhance the security of modern electrical grids by providing an accurate means to translate operational constraints into actions/commands for relays. This study demonstrates an advanced power system application solution using distributed ledger technology (DLT) with smart contracts to manage the relay operation at the PCC. The smart contract defines the allowable total power factor (TPF) of the DER output, and the terms of the smart contract are implemented using DLT with a Cyber Grid Guard (CGG) system for a customer-owned DER (wind farm). This article presents flowcharts for the TPF smart contract implemented by the CGG using DLT. The test scenarios were implemented using a real-time simulator containing a CGG system and relay in-the-loop. The data collected from the CGG system were used to execute the TPF smart contract. The desired TPF limits on the grid-side were between +0.9 and +1.0, and the operation of the breakers in the electrical grid and DER sides was controlled by the relay consistent with the provisions of the smart contract. The events from the real-time simulator, CGG, and relay showed a successful implementation of the TPF smart contract with CGG using DLT, proving the efficacy of this approach in general for implementing electrical grid applications for utilities with connections to customer-owned DERs. [ABSTRACT FROM AUTHOR]

Securitisation has allowed banks to move from an originate-to-hold to an originate-to-distribute model. While it is widely accepted that this helped banks to achieve higher profitability and diversification, it is also regarded as the main cause of the 2007-08 global financial crisis. The lack of transparency between the securities issued and the performance of the underlying loans led to extreme risk taking and amplified the impacts once the loans started to underperform. This paper explores asset tokenisation, which can bring similar benefits to securitisation while enabling more effective management of the risks due to the traceability and immutability of distributed ledger technology (DLT). The paper argues that tokenisation of assets has now progressed beyond the experimentation phase and is being adopted by major commercial banks, central banks and financial market infrastructures (FMI). In addition, it describes the regulatory tailwinds for market participants to get involved in deploying and using the technology that makes tokenisation possible. While tokens and securities are both claims on assets, tokenisation's additional capabilities of traceability and programmability enable the terms of a claim to be modified programmatically under specific circumstances, for example through a smart contract. A further positive attribute of tokenisation is that it can significantly improve and compress the workflow of existing and new securities, bringing considerable benefits from both operational and cost perspectives. The paper goes on to argue that generalised adoption of DLT along with harmonised standards, interoperability and integration for tokenisation feature among key requirements on which market participants and technology providers are actively working. Finally, the paper makes the point that cryptographically proven data also acts as a stepping-stone for high-quality artificial intelligence (AI) implementations, which can continue to expand productivity and profitability for regulated financial institutions. [ABSTRACT FROM AUTHOR]

Distributed ledger technologies (DLTs) are considered one of the foremost emerging technologies which can contribute to transform cities to smarter cities. DLT play important role in municipalities to accelerate the digitalization process toward changing the roles and services of enterprises in sustainable smart cities. Standardization of DLTs aids to reduce data and digital assets silos while decreasing vendor lock-in across distributed applications enabling a digital urban ecosystem that supports migration capabilities making it possible for cities to seamlessly achieve interoperability among DLTs and centralized digital platforms, although a few standards such as IEEE 2418, IEEE P2418.5, and ISO/TC 307 have been developed. The alignment and integration mechanisms required to support standardization of DLT for interoperable services in smart cities is lacking. Therefore, this study presents an understanding on current and open issues on standardization of DLTs in sustainable smart cities with a specific focus on data integration and alignment efforts related to interoperable DLTs. A framework is developed to promote standardization of DLTs to support integration and alignment for interoperability in smart cities. Design science research methodology was adopted based on three use case scenarios which illustrates how IOTA tangle is employs as a DLT for secured standardized communication between physical sensors, devices, and digital platforms in smart city environment. Findings from this article provide exploratory evidence demonstrating the potential uses of IOTA tangle through the developed framework applied for decentralized and centralized digital services. Based on this evidence, this study provides interface integration and alignment strategies to better exploit distributed applications full potential by improving DLT standardization in urban environment. [ABSTRACT FROM AUTHOR]

The aim of this study is to establish the groundwork for a comprehensive scientific model tailored to a digital platform dedicated to Waqf, intending to serve as a fundamental framework for the widespread adoption of digital Waqf initiatives across Muslim-majority nations. To achieve this objective, the study predominantly relied on the normative method, facilitating the development of informed perspectives on the concept of "Digital Waqf." Additionally, conceptual analysis was employed to introduce novel terminologies pertinent to the intersection of technology with the traditional institution of Waqf. In this context, "Digital Waqf" emerges as a pivotal instrument that harmonizes the preservation of Islamic cultural heritage, notably the institution of Waqf, with state-of-the-art technological advancements. By integrating cutting-edge technologies such as Distributed Ledgers, Smart Contracts, and Non-Fungible Tokens, the concept of "Digital Waqf" seeks to modernize and enhance the traditional practices associated with Waqf management and administration. At the heart of this endeavor lies the conceptualization of a model for the "Digital Waqf" platform, coined as "Djamaa Al Waqf," which aims to centralize all aspects of Waqf creation and management while mitigating existing disparities among its stakeholders. The envisioned "Digital Waqf" platform represents a pragmatic and scientifically grounded model adaptable to the diverse socio-economic contexts of Muslim nations. Its prospective implementation holds the promise of substantial improvements in both the conceptualization and execution of Waqf initiatives. As a result, a primary recommendation stemming from this research underscores the imperative of fostering increased collaboration among researchers, governmental authorities, and Waqf stakeholders to sustain the momentum and progression of the "Digital Waqf" endeavor. This collaborative effort is poised to redefine the trajectory of Waqf and philanthropy, serving as a potent catalyst for fostering inclusivity and sustainable development within the Waqf ecosystem. By encapsulating traditional principles of Waqf within a digital framework empowered by cutting-edge technologies, the "Digital Waqf" platform not only preserves the essence of Islamic endowment but also paves the way for its seamless adaptation to contemporary socio-economic landscapes. Through streamlined processes facilitated by advanced digital infrastructure, "Djamaa Al Waqf" promises to revolutionize the accessibility, transparency, and efficacy of Waqf management, thereby unlocking its transformative potential across diverse communities and regions. In essence, the culmination of this study heralds a paradigm shift in the perception and practice of Waqf, propelling it towards a future characterized by innovation, efficiency, and inclusivity. By embracing the digital realm, Waqf transcends conventional boundaries, emerging as a dynamic force driving socio-economic progress and societal well-being within the Muslim world and beyond. It represents not only a technological evolution but also a reaffirmation of the enduring relevance and adaptability of Islamic principles in contemporary contexts, thereby bridging the gap between tradition and modernity in the realm of philanthropy and social welfare.

The purpose of this article is to consider the prospects for the integration of blockchain and artificial intelligence (hereinafter referred to as AI) as an innovative approach to modernisation of various economic sectors. The authors analyse the possibilities of using this technological merger to optimise business processes, increase transparency and reduce transaction costs in different sectors, including finance, healthcare, transport, energy, etc. Particular attention is paid to the benefits of synergy between AI and distributed ledger technology, which allows for more efficient and sustainable systems of managing data and assets. The research object in this article is the process of integrating blockchain and AI. The subject of the study is the effectiveness of modernisation of various economic sectors through the combination of these technologies. The research method is an analytical review of scientific publications and successful implemented projects. The results of the current article lie in the analysis of the advantages of integrating blockchain and AI as well as forecasting further prospects for the development of this area. The practical significance of the work consists in the fact that the obtained results can be used to design strategies and plans for the implementation of this technology integration into domestic business.

Blockchain can enable small countries to overcome systemic constraints and strengthen their economies. Based on dynamic capabilities theory, we develop a conceptual framework that explores the applicability of blockchain for fostering economic development. Specifically, we postulate that the agent's role in dynamic capabilities theory can be extended from the organisation level to the country level. Our proposed framework integrates blockchain as an economic driver and dynamic capabilities on higher-order and lower-order levels (i.e., business and investment development, human capital development, financial system enhancement, regulatory framework improvement, and systems and infrastructure improvement) to show their impacts on different aspects of economic development. International regulatory and political factors serve as moderators that determine whether a national blockchain-based strategy will ultimately be successful. In summary, we illustrate how blockchain as an enabler of dynamic capabilities can contribute to a small country's economic development. [ABSTRACT FROM AUTHOR]

In the last few years, blockchain has emerged as a cutting-edge technology whose main advantages are transparency, traceability, immutability, enhanced efficiency, and trust, thanks to its decentralized nature. Although many people still identify blockchain with cryptocurrencies and the financial sector, it has many prospective applications beyond digital currency that can serve as use cases for which traditional infrastructures have become obsolete. Governments have started exploring its potential application to public services provision, as confirmed by the increasing number of adoption initiatives, projects, and tests. As the current public administration is often perceived as slow, bureaucratic, lacking transparency, and failing to involve citizens in decision-making processes, blockchain can establish itself as a tool that enables a process of disintermediation, which can revolutionize the way in which public services are managed and provided. In this paper, we will provide a survey of the main application areas which are likely to benefit from blockchain implementation, together with examples of practical implementations carried out by both state and local governments. Later, we will discuss the main challenges that may prevent its widespread adoption, such as government expenditure, technological maturity, and lack of public awareness. Finally, we will wrap up by providing indications on future areas of research for blockchain-based technologies. [ABSTRACT FROM AUTHOR]

Rapid advancements in Distributed Ledger Technology (DLT), including blockchain, are foundational to a new era of digital innovation. This innovation has catalyzed the emergence of "Decentralized Science (DeSci)," a new concept and movement that aims to address the challenges of modern science. Given the novelty of the field of DeSci, this study aims to provide a comprehensive definition of the term and explore and conceptualize the shared values and guiding principles inherent to DeSci. To achieve these objectives, an exploratory literature review was conducted to identify and synthesize the scholarly and secondary literature. The search and selection process included six databases (PubMed, Google Scholar, Web of Science, IEEE Xplore, arXiv, and Social Science Research Network), focusing on the last 15 years (2008 to 2023). Owing to the novelty of DeSci, the literature review was supplemented by an anonymous online-based expert survey using a combination of single-choice and openended questions. The experts were selected based on predefined inclusion criteria related to their activities in the DeSci field. Seven studies were selected for evaluation from the scholarly literature, and additional 24 sources of information were included in the analysis. In the expert survey, 39 valid datasets were collected and analyzed. The synthesis of the exploratory literature review and expert survey results led to a comprehensive definition of "Decentralized Science" (DeSci) reflecting recurring themes. As no publications explicitly discussed or addressed the values or principles of DeSci in the literature review, a set of shared values and guiding principles was defined based on the expert survey results. This study proposes a comprehensive definition of DeSci and a set of shared values and guiding principles, highlighting the importance of future research in this area. [ABSTRACT FROM AUTHOR]

The Preamble of the Spanish Financial Transactions Tax Law establishes that "[t]he shaping of the tax follows the line taken by our neighbouring countries, including France and Italy, thus contributing to greater coordination of these taxes across Europe." In this sense, the Spanish tax shows important similarities with those established in France and Italy in relation to the levy on the acquisition of certain shares and securities representing the capital of a company for consideration. Nevertheless, both the French and the Italian taxes apply to other types of transactions, not covered by the Spanish Law, which is why it is necessary to carry out the corresponding comparative study. Furthermore, the effects that have arisen from the application of this kind of taxes to financial transactions merited a proper analysis in order to determine if the main goals pursued by these taxes have been achieved in an efficient way. In any case, there are emerging tax challenges in financial markets connected, on the one hand, to the use of crypto-assets and distributed ledger technology, and, on the other hand, to the implementation of artificial intelligence and machine learning and the fair taxation of these operations. [ABSTRACT FROM AUTHOR]

The purpose of this research paper is to compare and analyse how crypto-assets are regulated in the UK and Germany. The aim is to understand and highlight the approaches taken by these two countries in terms of regulating crypto-assets and to explore the potential impact that their regulatory frameworks could have on the market for these crypto-assets. The research employs a doctrinal research design to examine the crypto-asset regulatory regimes in the UK and Germany. A comprehensive review of existing literature, official regulatory documents and relevant legal frameworks is conducted to understand the core components of each country's crypto-asset regulations. The findings of this study reveal divergences in the regulatory approaches of the UK and Germany towards crypto-assets. While the UK has embraced a principles-based regulatory framework, fostering innovation and industry growth, Germany has adopted a more prescriptive and cautious approach, focusing on investor protection and market stability. The research identifies that the UK's flexible approach has attracted a flourishing crypto-asset ecosystem, while Germany's conservative stance has offered greater investor confidence. However, certain regulatory gaps and challenges persist in both jurisdictions, such as ambiguities in classification and tax treatment, requiring further attention. [ABSTRACT FROM AUTHOR]

Despite the hype about blockchains among supply chain management (SCM) practitioners and researchers, the technology's adoption is still low, and confusion remains about its potential benefits for operational efficiency and effectiveness. Building on a multiple case study research, this paper clarifies current value creation opportunities enabled by the blockchain for product/material tracking and tracing. We highlight that the setup of blockchain projects depends on the presence of different drivers on customer value or efficiency and the focus towards products/components or raw materials. Based on how tracking and tracing drivers and focus influence the initial blockchain setup, contingent factors are discussed and possible evolutionary patterns are identified. These findings are elaborated in one setup matrix and three propositions. The study is one of the few to add empirical evidence to the mainly conceptual SCM blockchain literature and provides a middle-range theoretical contribution based on contingency theory. Furthermore, it offers actionable guidance for managers and policy makers about SCM blockchain adoption. [ABSTRACT FROM AUTHOR]

The increasing popularity and adoption of the Internet of Things (IoT) ecosystem in various domains has brought attention to the security breaches linked with this paradigm. As the number of IoT devices continues to grow, it is essential to ensure that they are secured to protect against potential threats and attacks. IoT network proliferation of interconnected devices has significantly raised security concerns making them attractive targets for cyber attackers seeking to gain unauthorized access to systems and cause disruptions. As IoT networks collect and transmit sensitive data using centralized architecture, ensuring security and integrity of these networks becomes paramount. Distributed Ledger Technology (DLT) has emerged as a promising solution for enhancing IoT security. Two prominent DLT platforms: Blockchain and Internet of Things Application (IOTA) technologies can provide a more secure and resilient foundation for IoT ecosystems, and also help to mitigate risks associated with central node vulnerabilities. DLT-based IoT systems can also enable the creation of decentralized marketplaces and autonomous agents that can operate without human intervention. The objective of this research is to offer a comprehensive as well as fundamental study of IoT ecosystems and its associated security risks. Moreover, this paper provides a holistic study of the DLT platform and bibliometric inspection using VoS viewer tool on generic DLT platform technologies i.e., Blockchain and IOTA for securing data in IoT ecosystem. By leveraging bibliometric insights resulting from both DLT technologies, this study identities the most promising areas for further investigation and contribute to advancing security in IoT ecosystems. This survey contributes to the ongoing discourse on IoT security by providing a thorough comprehensive comparison of DLT solutions i.e., Blockchain and IOTA technologies on various key metrics, revealing that IOTA technology is projected to offer significant improvements over blockchain in securing sustainable IoT ecosystems. [ABSTRACT FROM AUTHOR]

Like other disciplines, machine learning is currently facing a reproducibility crisis that hinders the advancement of scientific research. Researchers face difficulties reproducing key results due to the lack of critical details, including the disconnection between publications and associated models, data, parameter settings, and experimental results. To promote transparency and trust in research, solutions that improve the accessibility of models and data, facilitate experiment tracking, and allow audit of experimental results are needed. Blockchain technology, characterized by its decentralization, data immutability, cryptographic hash functions, consensus algorithms, robust security measures, access control mechanisms, and innovative smart contracts, offers a compelling pathway for the development of such solutions. To address the reproducibility challenges in machine learning, we present a novel concept of a blockchain-based platform that operates on a peer-to-peer network. This network comprises organizations and researchers actively engaged in machine learning research, seamlessly integrating various machine learning research and development frameworks. To validate the viability of our proposed concept, we implemented a blockchain network using the Hyperledger Fabric infrastructure and conducted experimental simulations in several scenarios to thoroughly evaluate its effectiveness. By fostering transparency and facilitating collaboration, our proposed platform has the potential to significantly improve reproducible research in machine learning and can be adapted to other domains within artificial intelligence. [ABSTRACT FROM AUTHOR]

Many Blockchain-based approaches have been published in the field of health data management applications (HDMAs). However, no comprehensive guideline exists to guide the multiple and interdependent design decisions to develop such systems. This paper aims to support the HDMA system design processes by introducing a novel decision model. The model considers all relevant requirements, from regulatory context to user needs and trust considerations. To generate the decision model, we define a taxonomy that organizes previously published approaches by their technical design features and combines it with the trust assumptions of the participating actors according to the STRIDE method. The model aims to support a cohesive overall system design by addressing Blockchain type, off-chain storage, identity and access management, security decisions, and the specific use case of data donation. A group of experts evaluated the decision tree and its utility is demonstrated in three representative use cases. Special attention is paid to the use case of data donation via a data trustee, which is examined in detail. [ABSTRACT FROM AUTHOR]

This paper investigates the potential of integrating supply chain management with blockchain technology, specifically by implementing smart contracts on the Ethereum network using Solidity. The paper explores supply chain management concepts, blockchain, distributed ledger technology, and smart contracts in the context of their integration into supply chains to increase traceability, transparency, and accountability with faster processing times. After investigating these technologies' applications and potential use cases, a framework for smart contract implementation for supply chain management is constructed. Potential data models and functions of a smart contract implementation improving supply chain management processes are discussed. After constructing a framework, the effects of the proposed system on supply chain processes are explained. The proposed framework increases the reliability of the supply chain history due to the usage of DLT (distributed ledger technology). It utilizes smart contracts to increase the manageability and traceability of the supply chain. The proposed framework also eliminates the SPoF (Single Point of Failure) vulnerabilities and external alteration of the transactional data. However, due to the ever-changing and variable nature of the supply chains, the proposed architecture might not be a one-size-fits-all solution, and tailor-made solutions might be necessary for different supply chain management implementations. [ABSTRACT FROM AUTHOR]

The coordination and organization of economic activity has always been one of the greatest challenges of humanity. For a long time, centralized models have been the dominant approach, but the emergence of technologies such as the internet, open-source software, peer-to-peer and ubiquitous computing, smart contracts and blockchain is leading to a shift toward decentralization. This trend is now culminating with a new phase of innovation called Decentralized Autonomous Organization ("DAO"). DAOs offer the potential to empower communities, promote decentralization and reliable coordination, and increase transparency and meritocracy in corporate governance using the institutional technology that is blockchain. In this paper, we present a systematic literature review of 195 academic publications on the DAO phenomenon using the PRISMA methodology. We aim to answer the following research questions: What are the characteristics of DAOs? What topics related to DAOs were researched by whom? Why do DAOs show great potential? When do DAOs face limitations? Where can solutions be found for the identified limitation? We also propose a research agenda and suggest future research directions. [ABSTRACT FROM AUTHOR]

Modern electrical grids have intelligent electronic devices (IEDs) such as protective relays that use internal logic to detect the types of electrical faults. The increasing integration of distributed energy sources and the resulting complexity of electrical grid communication architectures necessitates enhanced robustness of IEDs’ monitoring while maintaining security against potential cyber threats. In this study, a backup electrical faulted phase detection method with a distributed ledger technology (DLT) platform was implemented. Cyber Grid Guard software was developed to collect phase currents and voltages transmitted through IEC 61850 GOOSE messages, detect faulted phases from the IEDs using the GOOSE data, and validate the data by hashing them and storing them in the distributed ledger. In this way, the hashed data were run into an electrical faulted phase algorithm based on using a current threshold for detecting the faulted phases in the medium-voltage main feeder of an electrical substation. The detection of the electrical faulted phases was assessed in a real-time simulator with protective relays, meters, the software framework, and DLT in the loop. The proposed method provides secure and reliable backup detection external to the IEDs, and DLT validation enhances system security and trust.

This study aims to assess the extent to which blockchain technology (BCT) may constitute an alternative to the conventional stock trading system and emphasize the changing roles of the key parties. It is expected that BCT would enhance the performance of the process across the three stages (i.e. trading, clearing and settlement within the stock exchange environment). A thorough literature review is conducted to understand the BCT performance modeling techniques and approaches (empirical and analytical) and to examine the theoretical potentials and capabilities of BCT in the financial markets. The case study and simulation methods are used to evaluate the impact of BCT implementation in optimizing the process of trading, clearing and settlement in Abu Dhabi Securities Exchange (ADX) stock-trading activities. This paper presents a simulation analysis comparing a blockchain system with a traditional trading system in the context of stock market. The simulation procedures involve modeling processes over different durations and transaction volumes, using metrics such as process time and cycle time to evaluate performance. The performance index combines these metrics with weights to ensure accurate and consistent measurements. Simulation results reveal that the blockchain system significantly outperforms the current trading system, especially at higher transaction volumes, highlighting its scalability and efficiency. A threshold of 30,000 transactions is identified as the point where blockchain’s benefits become apparent. The analysis shows that blockchain significantly elevate the process efficiency. It reduces both cycle time and process time across varying transaction volumes, maintaining consistency and reliability. Additionally, a simple simulation using the Hyperledger Fabric platform demonstrates the practical implementation of a permissioned blockchain for clearing transactions, emphasizing the system's capability to manage high transaction volumes efficiently and securely. The use of blockchain network for handling seamless transactions using pre-defined smart contracts significantly improves the performance of the stock trading processes, specifically in the clearing phase. Interestingly, the BCT system drops the need for a “third party” (i.e. stock custodian) across the three stages. At the end of the paper, we propose a thereat mitigating model for stock trading with a new blockchain system.

This research highlights the incorporation of 3D printing and blockchain technology into aeronautical manufacturing and certification procedures with an aim to increase operational efficiency. The integration of 3D printing allows for streamlined production, while the immutable features of blockchain provide traceability and certification advantages, thus offering the potential for transformative impacts within the aviation supply chain. This study primarily focuses on investigating the implications and multiple benefits of this integration into the aviation industry. Furthermore, given the absence of economic assessments priorly conducted on this integration, the study also includes a mathematical formulation that provides a quantifiable measure of the achievable return on investment. Two distinct case studies provide real data as evidence supporting the efficacy of this proposed integrated model. The outcome suggests a new paradigm for the supply chain ecosystem, leading to operational improvements and economic benefits.

Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. https://bitcoin.org/bitcoin.pdf outlined an alternative to the current monetary system in which banks are replaced by a peer-to-peer system to issue and transfer digital money: the Bitcoin. While Bitcoin has attracted a substantial investment volume, the system has not achieved the status of a viable alternative monetary system. However, the distributed ledger technology (DLT) underlying the payment system is being applied successfully by financial institutions and is likely to have important implications for the future of money and banking. In this paper we therefore focus on the most advanced distributed ledger application in the financial industry: R3 Corda. This paper is structured as follows. In the first section, we relate the debate about systems of money creation to the rise of Bitcoin. Next, the development of R3 Corda is discussed and the lessons learned for monetary reform. We conclude with an assessment of the scope and likelihood of monetary reform as a consequence of DLT applications by central banks. [ABSTRACT FROM AUTHOR]

Decarbonization of energy systems has been a recent trend during the last two decades where large-scale renewable energy sources (RES) are integrated into the modern power systems. Various countries have developed new energy policy instruments, such as Renewable Energy Certificates (RECs), to promote the growth of RES. RECs are tradable, non-tangible assets, which have a monetary value. Tracking and certification of the origin of an energy resource regardless of its type (e.g., a conventional power plant or RES) are a critical operation. In addition to the certification of origin, trading transactions must be performed using a secure method. Energy industry participants need to secure the data and applications related to RECs. Digitalization technologies such as artificial intelligence (AI) and distributed ledger technology (DLT) are among the most popular and promising options. DLT is a perfect framework that can support such REC functionalities. This paper addresses the cybersecurity aspects in REC trading using blockchain and distributed ledger technology, considering detailed cybersecurity perspectives and aspects of adopting technology from an organizational perspective. [ABSTRACT FROM AUTHOR]

Organizations today are shifting toward collaborative forms of value creation and rely on digital technologies to operate interorganizational processes. This has led blockchain technology to gain considerable momentum, given its ability to foster collaboration among multiple actors. Nevertheless, despite its benefits, building a blockchain-based platform requires integrating heterogeneous needs and adapting to decentralized governance structures. This research investigates the successful deployment of a blockchain-based solution for interbank collaboration. Our empirical analysis focuses on the Spunta Banca DLT Project, initiated in 2017 to automate the interbank reconciliation processes in Italy, through the deployment of a permissioned blockchain-based solution. A qualitative analysis of interview data collected from project participants was conducted to gain insights on the process to build a blockchain-based platform for interbank collaboration. The findings of our exploratory case study reveal that successful deployment hinges on a sequential legitimacy-building process, encompassing pragmatic, normative, and cognitive legitimacy. [ABSTRACT FROM AUTHOR]