By a News Reporter-Staff News Editor at Computers, Networks & Communications -- Researchers detail new data in Information Technology - Information Systems. According to news reporting from Karlsruhe, Germany, by VerticalNews journalists, research stated, “Since its introduction in 2008, blockchain technology has outgrown its use in cryptocurrencies and is now preparing to revolutionize a multitude of commercial applications including value and supply chains, business models, and market structures. This work follows design science research to guide the implementation of a blockchain-based proof-of-concept prototype that enables the automated transaction of real-world assets, such as cars, and provides a valid, transparent, and immutable record of vehicle history to market participants, authorities, and other third parties.”
The news correspondents obtained a quote from the research from the Karlsruhe Institute of Technology, “The contribution of this study to existing research is threefold: First, it introduces a built-in mechanism to reduce transaction risk resulting from the irreversibility of transactions in blockchain-based systems. Second, it replaces a trust-based, centralized, and bureaucratic register with a tamper-free and autonomous transactional database system that comprises a secure registration and transaction process. Third, it proposes a novel approach to mitigate adverse selection effects in lemon markets by providing a reliable, transparent, and complete record of each marketable asset’s history.”
According to the news reporters, the research concluded: “In total, the findings in this article illustrate the potential of blockchain-based systems but also highlight technological shortcomings and challenges for commercial applications, such as scalability or privacy issues.”
For more information on this research see: Trading Real-World Assets on Blockchain An Application of Trust-Free Transaction Systems in the Market for Lemons. Business & Information Systems Engineering , 2017;59(6):425-440. Business & Information Systems Engineering can be contacted at: Springer Heidelberg, Tiergartenstrasse 17, D-69121 Heidelberg, Germany. (Springer - www.springer.com; Business & Information Systems Engineering - http://www.springerlink.com/content/1867-0202/)
Our news journalists report that additional information may be obtained by contacting B. Notheisen, Karlsruhe Inst Technol, Inst Informat Syst & Mkt, D-76133 Karlsruhe, Germany. Additional authors for this research include J.B. Cholewa and A.P. Shanmugam.
The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s12599-017-0499-8. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.
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CITATION: (2018-01-11), Researchers from Karlsruhe Institute of Technology Report on Findings in Information Systems (Trading Real-World Assets on Blockchain An Application of Trust-Free Transaction Systems in the Market for Lemons), Computers, Networks & Communications, 995, ISSN: 1944-1568, BUTTER® ID: 014946548
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