Master thesis on blockchain

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• Master in Blockchain & Digital Assets
• Master Thesis: Blockchain Reputation Oracle Networks 1
• Blockchain Technology and the Impact on the Auditor's Work in the Future
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• Improve Food Supply Chain Traceability using Blockchain
• Blockchain Technology PhD Thesis

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Digital Bank, May Embed Size px. Start on. Show related SlideShares at end. WordPress Shortcode. Share Email. Top clipped slide. Download Now Download Download to read offline. Barry Pijnenburg Follow. Clearing and settlement using Blockchain. Dematerialisation of securities. Finra - implications of blockchain for the securities industry. Industralisation of Distributed Ledger Technology.

Related Books Free with a 30 day trial from Scribd. Related Audiobooks Free with a 30 day trial from Scribd. Outstanding Leadership Stan Toler. Master Thesis Blockchain Post Trade 1. Pijnenburg u 2. UK, The subject for this thesis was selected, based upon working experience in a post-trade affiliated department within a financial institution, and personal interest in disruptive financial technology such as blockchain and other distributed ledger technologies.

The target group for this thesis can be either people working in the post-trade affiliated industry, interested in disruptive financial technology, people working in fintech interested in the current securities industry and historical developments or any other person interested in any of the two subjects. The writing style is supposed to be accessible for a broad group of people, and I would be very grateful and honoured when this thesis would be broadly distributed amongst many people.

Feel free to share this document to anyone! For this thesis, I would like to thank Michael Bier for supervising me during the process of writing this thesis. Many thanks for reserving personal time for advice and guidance.

Additionally, I would like to thank Ben van der Velpen, for providing access to his wide network of post-trade industry players and for providing additional input and discussion on all subjects covered in this thesis.

Finally, I would like to thank all interviewees and their employers for reserving valuable time for participation in this research. Thanks to all of you this thesis has been made possible. I can say that I am more than happy with the result and hope you enjoy reading it! Barry Pijnenburg, Leiden, October 5th barrypijnenburg gmail. The Giovannini Group, named after its chairman Alberto Giovannini, identified 15 post- trade barriers, which maintained inefficiency in cross-border clearing and settlement.

Since the foundation of the Giovannini Group, many harmonisation initiatives have been launched on European Union EU level. However, despite all initiatives, 20 years after the Giovannini Group was formed, many of the barriers still exist. In , Satoshi Nakamoto1 released the paper: Bitcoin: A Peer-to-Peer Electronic Cash System, in which he proposes an alternative electronic payment system, called Bitcoin, based on cryptographic proof rather than trust, obsoleting the need for a trusted third party and making transactions computationally, practically irreversible.

Since the introduction of the blockchain powered platform Bitcoin in , many developments have taken, are taking and will be taking place within the area of the financial services industry. Furthermore, due to delays and inefficiencies in the market infrastructure, significant capital and liquidity costs are incurred. ECB, These barriers were based on the results of a questionnaire that was published on the European Commission website in National differences on market practices, tax procedures and legal treatment as well as the diversity of IT platforms form the core of the barriers.

The Giovannini Group, Barrier description Type 1 National differences in information technology and interfaces Technical 2 National clearing and settlement restrictions that require the use of multiple systems. Technical 3 Differences in national rules relating to corporate actions, beneficial ownership and custody. These initiatives have all been striving towards further realisation of the European Single Market.

This market refers to the EU as one territory where goods and services can move freely due to the absence of internal borders or other regulatory obstacles. European 8. ECB, In , Satoshi Nakamoto3 released the paper: Bitcoin: A Peer-to-Peer Electronic Cash System, in which he states that financial institutions are almost exclusively serving as trusted third parties with regards to electronic payment processing.

As an alternative, Nakamoto proposes an electronic payment system, called Bitcoin, based on cryptographic proof rather than trust, obsoleting the need for a trusted third party and making transactions computationally, practically irreversible. Electronic coins are defined as a chain of digital signatures. This database structure of time stamped blocks of items forming a chain is what is known today as the blockchain, a form of distributed ledger technology.

Moreover, the role of blockchain technology in reducing these costs is examined. Direct savings could be realised by decommissioning obsolete systems, reduced operational overhead and cost sharing across the financial institutions connected to the blockchain. Three routes are identified to the adoption of the technology: - Challenger disruptions: developments by parties outside of the core capital markets, expected in months - Collaborative efforts to shift the current value chain to blockchains, likely to take more than 10 years - Mandated policy by supervisors directing the industry to introduce a new market infrastructure Euroclear, 3 Pseudonym used by the person or people who designed Bitcoin 4 One of the largest European Central Securities Depositories CSD 9.

These stages are trading, clearing, settlement and custody, of which the latter three are considered as post-trade. In Appendix I is a figure fully covering the on exchange securities trade value chain and the participants. In scope for this thesis are on exchange stock trades, while over-the-counter OTC trades are out of scope. AFME, To be able to trade, multiple parties are required. In the first place a buyer and a seller are required, the buyer will indicate at his bank that he is willing to buy a certain stock and the seller will indicate at his bank that he is willing to sell a certain stock.

However, to be able to trade on a stock exchange, connectivity to that stock exchange or Multilateral Trading Facility MTF is required. London Stock Exchange, Sometimes the banks are connected directly otherwise intermediaries are used for connectivity.

These intermediaries are known as stock brokers, and can execute clients buy and sell orders on the stock exchange. Deutsche Boerse, 2.

CCPs perform two clearing functions. Firstly, there is netting by novation, which means that the CCP becomes the counterparty for each side of the trade; i. In a regular stock trade, this will imply that the buyer pays to the CCP, while the seller delivers shares to the CCP. Secondly, there is the netting referred to as clearing. Due to its obligatory role with regards to the clearing of on exchange trades, CCPs net off transactions between multiple parties for both cash and securities.

This results in significantly smaller net exposures than bilateral netting. Due to the novation, CCPs are not only facilitating settlement, but even guaranteeing it. This means that settlement also will have to be guaranteed in case of default of one of the counterparties involved in a trade. Margin is used as a risk management tool and sometimes requires additional collateral to be deposited in case of fluctuations in the market price, enabling the CCP to guarantee settlement, even in case of default of a trading counterparty.

Loader, Loader, , p. A common settlement instruction, in which stocks are delivered to a buyer, and money is delivered to the seller, is called a Delivery Versus Payment DVP. The settlement instruction of the securities is processed by the Central Securities Depository CSD and the cash settlement is processed by the central bank. If the buyer and the seller are holding their assets for safekeeping at the same bank — called a custodian, settlement can be done internally.

However, when settlements need to take place between different custodians, the custodians need to arrange the settlement according to the terms in the contract. Since ISINs are standardized, ISO , and used worldwide for identification of securities, they contribute in facilitating a reliant clearing and settlement process.

Clients from CSDs are usually financial 5 In chapter 3. Client assets are protected for defaults through asset segregation. For this example we will use the German market6 , marked in red in Figure The figure in Appendix I is useful to follow the different steps in the process. Additionally, the cash instruction is also netted off.

Furthermore, the first barrier that was identified by the Giovannini Group, speaks of national differences in information technology and interfaces, caused by non-standardised platforms.

Implying that, to take away this barrier and achieve harmonisation, standardisation is a key element. In this chapter, boundary breaking initiatives that impacted the European securities landscape will be discussed. In , when SWIFT went live, institutions from 22 countries were connected to its messaging service.

Master in Blockchain & Digital Assets

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Master Thesis: Blockchain Reputation Oracle Networks 1

Blockchain technologies are extremely advanced, and crafting a well-thought-out blockchain thesis is incredibly hard. The main difficulty with this branch of information technologies is its holistic nature, encompassing numerous complex ideas simultaneously. Although blockchain has deep roots in computer science, the related fields include:. Doubtlessly, anyone writing such a thesis must have a deep understanding of at least the mentioned fields. Ideally, such thesis writers would hold advanced degrees in both computer science alongside any of the named subjects. Nonetheless, anxiety-ridden students do not have anything to worry about because our platform can easily assist with such complicated assignments. Our website employs an impressively vast academic expert pool capable of writing any scholarly thesis on blockchain. Actually, professionals can write complex theses with the following titles:. In fact, thesis professionals can handle pretty much any higher education subject customers give them.

Blockchain Technology and the Impact on the Auditor's Work in the Future

Project aims to utilize various forms of fingerprinting to secure the IP created by Esoft, as well as help us find information pertaining to images through a reverse image-search of our backlog. After researching watermarks and fingerprinting, it became apparent that for our use case, fingerprinting was the way to go. Fingerprinting is the act of using an objects data to create a fingerprint that can identify the object. Fingerprinting has a low to moderate chance of having duplicates, but is non- intrusive and robust to file alterations.

Suchresultat

The work focuses on Blockchain and practical demonstration based on an open source platform called Multichain. The research considers potential uses in food supply chain, more specifically the use in wine industry for counterfeit prevention. Digital transformation brings great changes on a daily basis in almost all industries that are manifested in the improvement of business processes as well as in the creation of new innovative business models. The research described in this paper considers the digital transformation in the agricultural industry and the food supply chain. The focus is on Blockchain technology, its capabilities and characteristics, as well as on aspects of the practical implementation of a prototype for monitoring data on food products from the manufacturer to the end user.

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This study aims to focus on blockchain technology evolution that occurred in commercial sector. Moreover, the research intends to focus on an introductory aspect of blockchain technology as basis of cryptocurrencies such as Bitcoin. Additionally, its objective is to provide detailed information regarding extension of capabilities of blockchain technology in light of it being a source of decline of preference of Bitcoin technology in commercial area. The research is directed towards discussion of Blockchain as source of revolutionised industry and commerce and its ability of overpowering bitcoin as driving power behind economic change. Aims of variety of studies revolving around blockchain technology focus on identification of use cases along with examples of applications based upon blockchain in healthcare. However, this study is directed differently, focuses on development of understanding of challenges and limitations of use of variety of healthcare applications based on blockchain. It also strives to provide current trend of technical approaches, concepts and methods used in development of these applications and resulting limitations of these various operations in healthcare sector. This study seeks to provide details of adverse effects that blockchain applications have on healthcare and way in which they limit progression in this sector.

Improve Food Supply Chain Traceability using Blockchain

The shipping industry is facing a rapid change towards digitalization where blockchain based solutions may be part of the Shipping 4. Many types of maritime supply chains have large potentials for improvement — opening for modernized solutions based on innovation and new technology. Blockchain technology has been proposed to contain the properties needed to solve pain points in several areas and thereby also improve the managing of supply chains. The disruptive technology behind blockchain could, therefore, challenge conventional methods where trust and information-sharing among stakeholders are important.

Blockchain Technology PhD Thesis

RELATED VIDEO: How to Write and Publish your Blockchain Research Paper

Blockchain is the one of the most globally employed security technology for protecting the data through decentralized transparent e-ledger maintenance. The primary working principle of blockchain is vastly depends on smart contract which is one of the blockchain components. It creates the smart way of security and builds the strong foundation in many of the blockchain applications such as e-voting, healthcare, cybersecurity system and more. This article clearly gives you end-to-end research updates on Blockchain Technology along with its current research areas!!! In the short period, blockchain turn out to be the master technology to hold the future era of digital transactions.

On Thesis Phd Blockchain. While this was successful and I passed by PhD, I …. The blockchain itself is composed of blocks, with each block representing a set of transactions. Janmelon Dissertation. Columbia Journal of European Law: Preliminary Reference June 22, Clearing and settlement of international securities transactions present major challenges.

Blockchain technology is the innovation powering the cryptocurrency Bitcoin, which is a network in which digital tokens can be traded peer-to-peer by the means of cryptography and decentralized consensus. The lack of intermediaries and short settlement period of cryptocurrencies make blockchain technology an inspiring database structure for the securities market. In this paper, we examine the potential of using blockchain technology to create a distributed securities depository.