The Societal Implications of Blockchain Proliferation

• URL: http://arxiv.org/abs/2404.02451v1
• Date: Wed, 3 Apr 2024 04:37:14 GMT
• Title: The Societal Implications of Blockchain Proliferation
• Authors: Cory Cherven,
• Abstract summary: Bitcoin and its distributed ledger technology have far-reaching implications for consumers across the world. The potential to change lives in the third world, replacing corrupt infrastructure with trust-based solutions. The negative environmental effects of cryptocurrency may also contribute significantly to global climate change.
• Score: 0.0
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: Blockchain and its distributed ledger technology have far-reaching implications for consumers across the world. Cryptocurrencies like XRP work to solve key issues in the remittance industry, targeting corridors like Mexico where foreign remittance fuels economies. Blockchain's libertarian principles have the potential to change lives in the third world, replacing corrupt infrastructure with trust-based solutions. While this technology can be used to significantly improve lives, it has a wealth of destructive applications. Bitcoin's blockchain and nefarious websites like the Silk Road have fueled an underground market of drugs, money laundering, and terrorism, complicating digital currency legislation. The negative environmental effects of cryptocurrency may also contribute significantly to global climate change. Negatives aside, cryptocurrency still proves to be a valuable commodity in technological development.

Related papers

• IT Strategic alignment in the decentralized finance (DeFi): CBDC and digital currencies [49.1574468325115]
  Decentralized finance (DeFi) is a disruptive-based financial infrastructure. This paper seeks to answer two main questions 1) What are the common IT elements in the DeFi? And 2) How the elements to the IT strategic alignment in DeFi?
  arXiv  Detail & Related papers  (2024-05-17T10:19:20Z)
• A trustless society? A political look at the blockchain vision [0.0]
  Research efforts investigating the blockchain should be halted. The power of central actors does not dissolve, it only shifts to new, democratically illegitimate, uncontrolled or even uncontrollable power centers.
  arXiv  Detail & Related papers  (2024-05-09T20:54:08Z)
• Blockchains for Internet of Things: Fundamentals, Applications, and Challenges [38.29453164670072]
  Not every blockchain system is suitable for specific IoT applications. Public blockchains are not suitable for storing sensitive data. We explore the blockchain's application in three pivotal IoT areas: edge AI, communications, and healthcare.
  arXiv  Detail & Related papers  (2024-05-08T04:25:57Z)
• Unveiling Decentralization: A Comprehensive Review of Technologies, Comparison, Challenges in Bitcoin, Ethereum, and Solana Blockchain [1.6070833439280312]
  Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. Solana introduces a novel architecture for high-performance blockchain, employing timestamps to validate decentralized transactions. This paper aims to offer valuable insights and comparative analysis for both researchers and practitioners.
  arXiv  Detail & Related papers  (2024-04-07T07:27:03Z)
• Enhancing Trust and Privacy in Distributed Networks: A Comprehensive Survey on Blockchain-based Federated Learning [51.13534069758711]
  Decentralized approaches like blockchain offer a compelling solution by implementing a consensus mechanism among multiple entities. Federated Learning (FL) enables participants to collaboratively train models while safeguarding data privacy. This paper investigates the synergy between blockchain's security features and FL's privacy-preserving model training capabilities.
  arXiv  Detail & Related papers  (2024-03-28T07:08:26Z)
• Crypto Technology -- Impact on Global Economy [0.0]
  The innovation in crypto space is often compared to the impact internet had on human life. There is a new term called Web 3.0 for denoting all new computing innovations arising due to the blockchain technologies. It is very important to research about Web 3 technologies, how it is connected to crypto economy and what to expect in this field for the next several decades.
  arXiv  Detail & Related papers  (2024-02-28T02:30:59Z)
• The Devil Behind the Mirror: Tracking the Campaigns of Cryptocurrency Abuses on the Dark Web [39.96427593096699]
  We identify 2,564 illicit sites with 1,189 illicit blockchain addresses, which account for 90.8 BTC in revenue. Our exploration suggests that illicit activities on the dark web have strong correlations, which can guide us to identify new illicit blockchain addresses and onions.
  arXiv  Detail & Related papers  (2024-01-09T16:35:25Z)
• Interplay between Cryptocurrency Transactions and Online Financial Forums [41.94295877935867]
  This study focuses on the study of the interplay between these cryptocurrency forums and fluctuations in cryptocurrency values. It shows that the activity of Bitcointalk forum keeps a direct relationship with the trend in the values of BTC. The experiment highlights that forum data can explain specific events in the financial field.
  arXiv  Detail & Related papers  (2023-11-27T16:25:28Z)
• Predicting Digital Asset Prices using Natural Language Processing: a survey [2.806897141084325]
  The rise of Machine Learning, and Natural Language Processing, in particular, has shed light monitoring and predicting the price behaviors of cryptocurrencies. This paper aims to review and analyze the recent efforts in applying Machine Learning and Natural Language Processing methods to predict the prices and analyze the behaviors of digital assets such as Bitcoin.
  arXiv  Detail & Related papers  (2022-11-28T17:37:06Z)
• Blockchain Technology: Bitcoins, Cryptocurrency and Applications [0.0]
  Bitcoin is a peer-to-peer permissionless network that allows every user to connect to the network and send new transactions to verify and create new blocks. This paper explains the concept of bitcoin, its characteristics, the need for cryptography, and how Bitcoin works.
  arXiv  Detail & Related papers  (2021-07-16T15:27:04Z)
• Quantum-resistance in blockchain networks [46.63333997460008]
  This paper describes the work carried out by the Inter-American Development Bank, the IDB Lab, LACChain, Quantum Computing (CQC), and Tecnologico de Monterrey to identify and eliminate quantum threats in blockchain networks. The advent of quantum computing threatens internet protocols and blockchain networks because they utilize non-quantum resistant cryptographic algorithms.
  arXiv  Detail & Related papers  (2021-06-11T23:39:25Z)

This list is automatically generated from the titles and abstracts of the papers in this site.

This site does not guarantee the quality of this site (including all information) and is not responsible for any consequences.