Cool, But What About Oracles? An Oracle-Based Perspective on Blockchain Integration in the Accounting Field

• URL: http://arxiv.org/abs/2412.20447v2
• Date: Tue, 31 Dec 2024 13:36:16 GMT
• Title: Cool, But What About Oracles? An Oracle-Based Perspective on Blockchain Integration in the Accounting Field
• Authors: Giulio Caldarelli,
• Abstract summary: This study aims to investigate whether the papers concerning blockchain integration in accounting consider and address the limitations posed by oracles. Results support the view that although research on the subject counts numerous articles, actual studies considering oracle limitations are lacking.
• Score: 0.0
• License:
• Abstract: The Bitcoin Network is a sophisticated accounting system that allows its underlying cryptocurrency to be trusted even in the absence of a reliable financial authority. Given its undeniable success, the technology, generally referred to as blockchain, has also been proposed as a means to improve legacy accounting systems. Accounting for real-world data, however, requires the intervention of a third party known as an Oracle, which, having not the same characteristics as a blockchain, could potentially reduce the expected integration benefit. Through a systematic review of the literature, this study aims to investigate whether the papers concerning blockchain integration in accounting consider and address the limitations posed by oracles. A broad overview of the limitations that emerged in the literature is provided and distinguished according to the specific accounting integration. Results support the view that although research on the subject counts numerous articles, actual studies considering oracle limitations are lacking. Interestingly, despite the scarce production of papers addressing oracles in various accounting sectors, reporting for ESG already shows interesting workarounds for oracle limitations, with permissioned chains envisioned as a valid support for the safe storage of sustainability data.

Related papers

• Blockchain Data Analysis in the Era of Large-Language Models [21.81035847078574]
  Existing blockchain data analysis tools face challenges, including data scarcity, the lack of generalizability, and the lack of reasoning capability. We believe large language models (LLMs) can mitigate these challenges. This paper systematically explores potential techniques and design patterns in LLM-integrated blockchain data analysis.
  arXiv  Detail & Related papers  (2024-12-09T07:32:35Z)
• Balancing Confidentiality and Transparency for Blockchain-based Process-Aware Information Systems [46.404531555921906]
  We propose an architecture for blockchain-based PAISs aimed at preserving both confidentiality and transparency. Smart contracts enact, enforce and store public interactions, while attribute-based encryption techniques are adopted to specify access grants to confidential information.
  arXiv  Detail & Related papers  (2024-12-07T20:18:36Z)
• SPOQchain: Platform for Secure, Scalable, and Privacy-Preserving Supply Chain Tracing and Counterfeit Protection [46.68279506084277]
  This work proposes SPOQchain, a novel blockchain-based platform that provides comprehensive traceability and originality verification. It provides an analysis of privacy and security aspects, demonstrating the need and qualification of SPOQchain for the future of supply chain tracing.
  arXiv  Detail & Related papers  (2024-08-30T07:15:43Z)
• SOK: Blockchain for Provenance [0.0]
  Provenance, which traces data from its creation to manipulation, is crucial for ensuring data integrity, reliability, and trustworthiness. Provenance technology has become a popular choice for implementing provenance due to its distributed, transparent, and immutable nature. Numerous studies on blockchain designs are specifically dedicated to provenance, and specialize in this area.
  arXiv  Detail & Related papers  (2024-07-25T01:46:49Z)
• 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)
• 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)
• 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)
• Large Language Models for Blockchain Security: A Systematic Literature Review [32.36531880327789]
  Large Language Models (LLMs) have emerged as powerful tools across various domains within cyber security. This study aims to comprehensively analyze and understand existing research, and elucidate how LLMs contribute to enhancing the security of blockchain systems.
  arXiv  Detail & Related papers  (2024-03-21T10:39:44Z)
• Generative AI-enabled Blockchain Networks: Fundamentals, Applications, and Case Study [73.87110604150315]
  Generative Artificial Intelligence (GAI) has emerged as a promising solution to address challenges of blockchain technology. In this paper, we first introduce GAI techniques, outline their applications, and discuss existing solutions for integrating GAI into blockchains.
  arXiv  Detail & Related papers  (2024-01-28T10:46:17Z)
• Addressing Trust Challenges in Blockchain Oracles Using Asymmetric Byzantine Quorums [0.5461938536945723]
  A third-party interface or what is known as an Oracle is needed to interact with the external world. The genuineness of the data sourced by these Oracles is paramount, as it directly influences the Byzantine's reliability, credibility, and scalability. A strategy rooted in fault tolerance phi is introduced to tackle these challenges. An autonomous system for sustainability and audibility, built on detection, is put forth.
  arXiv  Detail & Related papers  (2023-12-30T08:53:45Z)
• Combining Blockchain and Biometrics: A Survey on Technical Aspects and a First Legal Analysis [4.118312653795255]
  This paper provides a survey of technical literature research on the combination of blockchain and biometrics. It includes a first legal analysis of this integration to shed light on challenges and potentials.
  arXiv  Detail & Related papers  (2023-02-21T18:58:32Z)

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.