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1. Platforms, blockchains and the challenges of decentralization

   https://doi.org/10.1093/cjres/rsad008  

   Zook, Matthew (May 2023, Cambridge Journal of Regions, Economy and Society)

   Abstract This commentary explores the feasibility of blockchain technologies (and cryptocurrencies) in contesting the power of centralized, corporate platforms. While proponents of blockchain and cryptocurrencies regularly proclaim their power to decentralize and counter corporate power, I am much more constrained in my assessment and note the significant challenges facing open blockchain approaches in competing with platforms. From this, I highlight three key areas in which blockchains may complicate platform operations, albeit in indeterminate ways. These include (i) closed, state-based blockchain systems focused on making back-office processes more efficient, (ii) the use of cryptocurrencies for platform-based transactions and (iii) providing digital objects with an element of “uniqueness” that makes them tradable in new ways. In the end, blockchain and cryptocurrencies are technologies like any others, providing affordances for some kinds of action over others but ultimately their embeddedness in practice and space shapes how they impact the organization and geography of economies, societies and regions. 

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2. Cross-chain Transactions

   https://doi.org/10.1109/ICBC48266.2020.9169477  

   Shadab, Narges; Houshmand, Farzin; Lesani, Mohsen (May 2020, 2020 IEEE International Conference on Blockchain and Cryptocurrency (ICBC))

   null (Ed.)

   The value of cryptocurrencies is highly volatile and investors require fast and reliable exchange systems. In cross-chain transactions, multiple parties exchange assets across multiple blockchains which can be represented as a directed graph with vertexes V as parties and edges E as asset transfers. In a simple form, cross-chain transactions are cross-chain swaps where each edge e transfers an asset that the head of e already owns. However, in general, a cross-chain transaction includes a sequence of exchanges at each blockchain. Further, transactions may have off-chain steps and hence may not be strongly connected. Given a transaction, protocols are desired that guarantee the following property called uniformity. If all parties conform to the protocol, all the assets should be transferred. Further, if any party deviates from the protocol, the conforming parties should not experience any loss. Previous work introduced a uniform protocol for strongly connected cross-chain swaps and showed that no uniform protocol exists for transactions that are not strongly connected. We present a uniform protocol for general cross-chain transactions with sequenced and off-chain steps when a few certain parties are conforming. Further, we prove a new property called end-to-end that guarantees that if the source parties pay, the sink parties are paid. We present a synthesis tool called XCHAIN that given a high-level description of a cross-transaction can automatically generate smart contracts in Solidity for all the parties. 

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3. Blockchains and Databases: Opportunities and Challenges for the Permissioned and the Permissionless

   https://doi.org/10.1007/978-3-030-54832-2_1  

   Agrawal, D.; El Abbadi, A.; Amiri, M.J.; Maiyya, S.; Zakhary, V. (August 2020, Advances in Databases and Information Systems)

   Darmont, J; Novikov, B.; Wrembel, R. (Ed.)

   Bitcoin [12] is a successful and interesting example of a global scale peer-to-peer cryptocurrency that integrates many techniques and protocols from cryptography, distributed systems, and databases. The main underlying data structure is blockchain, a scalable fully replicated structure that is shared among all participants and guarantees a consistent view of all user transactions by all participants in the system. In a blockchain, nodes agree on their shared states across a large network of untrusted participants. Although originally devised for cryptocurrencies, recent systems exploit its many unique features such as transparency, provenance, fault tolerance, and authenticity to support a wide range of distributed applications. Bitcoin and other cryptocurrencies use permissionless blockchains. In a permissionless blockchain, the network is public, and anyone can participate without a specific identity. Many other distributed applications, such as supply chain management and healthcare, are deployed on permissioned blockchains consisting of a set of known, identified nodes that still might not fully trust each other. This paper illustrates some of the main challenges and opportunities from a database perspective in the many novel and interesting application domains of blockchains. These opportunities are illustrated using various examples from recent research in both permissionless and permissioned blockchains. Two main themes unite the various examples: (1) the important role of distribution and consensus in managing large scale systems and (2) the need to tolerate malicious failures. The advent of cloud computing and large data centers shifted large scale data management infrastructures from centralized databases to distributed systems. One of the main challenges in designing distributed systems is the need for fault-tolerance. Cloud-based systems typically assume trusted infrastructures, since data centers are owned by the enterprises managing the data, and hence the design typically only assumes and tolerates crash failures. The advent of blockchain and the underlying premise that copies of the blockchain are distributed among untrusted entities has shifted the focus of fault-tolerance from tolerating crash failures to tolerating malicious failures. These interesting and challenging settings pose great opportunities for database researchers. 

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4. Permissioned Blockchains: Properties, Techniques and Applications

   https://doi.org/10.1145/3448016.3457539  

   Amiri, Mohammad Javad; Agrawal, Divyakant; El Abbadi, Amr (June 2021, SIGMOD'2021)

   The unique features of blockchains such as immutability, transparency, provenance, and authenticity have been used by many large-scale data management systems to deploy a wide range of distributed applications including supply chain management, healthcare, and crowdworking in permissioned settings. Unlike permissionless settings, e.g., Bitcoin, where the network is public, and anyone can participate without a specific identity, a permissioned blockchain system consists of a set of known, identified nodes that might not fully trust each other. While the characteristics of permissioned blockchains are appealing to a wide range of largescale data management systems, these systems, have to satisfy four main requirements: confidentiality, verifiability, performance, and scalability. Various approaches have been developed in industry and academia to satisfy these requirements with varying assumptions and costs. The focus of this tutorial is on presenting many of these techniques while highlighting the trade-offs among them. We demonstrate the practicality of such techniques in real-life by presenting three different applications, i.e., supply chain management, large-scale databases, and multi-platform crowdworking environments, and show how those techniques can be utilized to meet the requirements of such applications 

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5. Smart Contracts, Smarter Payments: Innovating Cross Border Payments and Reporting Transactions

   https://doi.org/10.1109/CIFEr62890.2024.10772792  

   Mridul, Maruf Ahmed; Chang, Kaiyang; Gupta, Aparna; Seneviratne, Oshani (October 2024, IEEE)

   The global financial landscape is experiencing significant transformation driven by technological advancements and evolving market dynamics. Moreover, blockchain technology has become a pivotal platform with widespread applications, especially in finance. Cross-border payments have emerged as a key area of interest, with blockchain offering inherent benefits such as enhanced security, transparency, and efficiency compared to traditional banking systems. This paper presents a novel framework leveraging blockchain technology and smart contracts to emulate cross-border payments, ensuring interoperability and compliance with international standards such as ISO20022. Key contributions of this paper include a novel prototype framework for implementing smart contracts and web clients for streamlined transactions and a mechanism to translate ISO20022 standard messages. Our framework can provide a practical solution for secure, efficient, and transparent cross-border transactions, contributing to the ongoing evolution of global finance and the emerging landscape of decentralized finance. 

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