Lohkoketjuteknologian soveltaminen finanssisektorille

Tämän kandidaatintutkielman tarkoituksena on tutkia, miten lohkoketjuteknologiaa voi soveltaa finanssisektorille. Tutkimus tarjoaa yleiskuvan lohkoketjuteknologista, sekä sen sovelluskohteista finanssisektorilla. Tutkimusmenetelmä on kvalitatiivinen ja se toteutettiin haastattelemalla pankkeja, jotka osallistuvat Distributed Ledger Group (DLG)-konsortioon. Kyseinen konsortio pyrkii 42 pankin ja R3cev nimisen yrityksen välisessä yhteistyössä soveltamaan lohkoketjuteknologiaa pankkisektorille. Haastattelujen perusteella pankit pitävät lohkoketjuteknologian potentiaalia pitkällä aikavälillä suurena. Erityisesti lohkoketjuteknologian odotetaan laskevan kustannuksia, sekä nopeuttavan toimintoja useiden eri tuotteiden kohdalla. Pelkästään pankkisektorilla tutkitaan tällä hetkellä kymmeniä eri sovelluskohteita. Ennen kuin lohkoketjulla voidaan nähdä kaupallista toimintaa, tulee haasteita ylittää sekä teknisellä, että säädännöllisellä puolella. Vielä on liian varhaista arvioida, milloin lohkoketjuteknologiaa tullaan soveltamaan laajemmin finanssisektorilla. Pankkien oma tutkimus aiheesta oli vielä suhteellisen varhaisessa vaiheessa. Lohkoketjuteknologian potentiaali voidaan nähdä tutkimuksen perusteella valtavan suurena. Vielä on kuitenkin vaikea arvioida tullaanko tähän potentiaaliin tulevaisuudessa yltämään. Finanssisektorilla on monia toimijoita, jotka tutkivat lohkoketjuteknologiaa ja se vauhdittaa kehitystä. Lohkoketjuteknologia saattaa tulevaisuudessa mullistaa monia finanssisektorin osa-alueita tai jopa korvata ne kokonaan.

Progettare l'inserimento di General Purpose Technologies nelle Organizzazioni con il Design Thinking: evidenze dal campo e metodologia proposta

Vista la crescente necessità di svolgere progetti d'innovazione guidati dalle nuove tecnologie, la presente ricerca risponde all'esigenza di trovare una metodologia efficace per poterli affrontare proficuamente. In un primo momento, l'elaborato propone una metodologia che permette di elaborare una classificazione dei progetti d'innovazione technology-driven in classi ed un pacchetto di tools funzionali al riconoscimento dell'appartenenza alle stesse. In un secondo momento, giunti a comprensione del fatto che ad ognuna delle classi corrisponde uno specifico fine raggiungibile con una specifica metodologia, lo studio descrive la metodologia seguita per raggiungere una efficace e ripetibile elaborazione di principi progettuali, buone pratiche e strumenti che permettano ad una Organizzazione di appropriarsi del valore di una tecnologia General Purpose (GPT) attraverso l'ideazione di soluzioni innovativa. La progettazione è figlia di un approccio di Design Thinking (DT), sia poichè esso è stato usato nello svolgimento stesso della ricerca, sia perchè la metodologia DT è alla base della modellazione del processo proposto per la classe.

Verso una regolamentazione dei contratti intelligenti: particolare riferimento al settore finanziario

Esta tesis doctoral aborda un tema complejo y de actualidad. Complejo, porque no es posible estudiarlo desde un punto de vista jurídico, sin un conocimiento previo de la tecnología subyacente - el blockchain. Y de actualidad, porque esta tecnología ya ha tenido un profundo impacto en el sector financiero en general, coincidiendo con una tendencia reguladora en este campo que no tiene precedentes normativos en los que basarse. El mundo financiero, el derecho bancario, el derecho de valores y los contratos comerciales se enfrentan a retos que no se pueden ignorar. Este trabajo de investigación aborda esta tecnología desde una perspectiva jurídica, valorando en qué medida el ordenamiento jurídico se está adaptando al ritmo exigido; en qué medida el régimen jurídico vigente ofrece soluciones y puede aplicarse, con ligeras adaptaciones, a esta nueva realidad económico-comercial; y, por último, cuáles son los elementos y características diferenciales de las aplicaciones de la tecnología blockchain, que deben tenerse en cuenta para una adecuada regulación de las mismas, que responda a los problemas que plantean. Conocer los beneficios, riesgos y ventajas son elementos esenciales a considerar en el proceso de regulación, ya iniciado y guiado por la UE, en su voluntad de apostar por la innovación digital en la economía de la Eurozona.

Implications of Blockchain-Based Smart Contracts on Contract Law

Smart contracts are the most advanced blockchain applications. They can also be used in the contractual domain for the encoding and automatic execution of contract terms. Smart contracts already existed before the blockchain, but they take advantage of the characteristics of that technology. Namely, the decentralised and immutable characters of the blockchain determine that no single contracting party can control, modify, or interrupt the execution of smart contracts. As every new phenomenon, blockchain-based smart contracts have attracted the attention of institutions. For example, in its Resolution of 3 October 2018 on distributed ledger technologies and blockchain, the European Parliament has stressed the need to undertake an in-depth assessment of the legal implications,starting from the analysis of existing legal frameworks. Indeed, the present research thesis aims to verify how blockchain-based smart contracts fit into contract law. To this end, the analysis starts from the most discussed and relevant aspects and develops further considerations. Before that, it provides a detailed description and clarifications about the characteristics, the functioning, and the development of the technology, which is an essential starting point for a high-level quality legal analysis. It takes into considerations already existing rules concerning the use of technology in the life cycle of contracts, from vending machines to computable contracts, and verifies its applicability to blockchain-based smart contracts. The work does not limit to consider the mere technology, but some concrete scenarios of adoption of blockchain-based smart contracts in the contractual domain. Starting from the latter, it focuses on the implications of blockchain-based smart contracts on contract formation, contract performance, and applicable law and jurisdiction.

Distributed argumentation technology: advancing risk analysis and regulatory compliance of distributed ledger technologies for transaction and management of securities

Distributed argumentation technology is a computational approach incorporating argumentation reasoning mechanisms within multi-agent systems. For the formal foundations of distributed argumentation technology, in this thesis we conduct a principle-based analysis of structured argumentation as well as abstract multi-agent and abstract bipolar argumentation. The results of the principle-based approach of these theories provide an overview and guideline for further applications of the theories. Moreover, in this thesis we explore distributed argumentation technology using distributed ledgers. We envision an Intelligent Human-input-based Blockchain Oracle (IHiBO), an artificial intelligence tool for storing argumentation reasoning. We propose a decentralized and secure architecture for conducting decision-making, addressing key concerns of trust, transparency, and immutability. We model fund management with agent argumentation in IHiBO and analyze its compliance with European fund management legal frameworks. We illustrate how bipolar argumentation balances pros and cons in legal reasoning in a legal divorce case, and how the strength of arguments in natural language can be represented in structured arguments. Finally, we discuss how distributed argumentation technology can be used to advance risk management, regulatory compliance of distributed ledgers for financial securities, and dialogue techniques.

Roadmapping for technology push and partnership: A contribution for open innovation environments

There are several tools in the literature that support innovation in organizations. Some of the most cited are the so-called technology roadmapping methods, also known as TRM. However, these methods are designed primarily for organizations that adopt the market pull strategy of technology-product integration. Organizations that adopt the technology push integration strategy are neglected in the literature. Furthermore, with the advent of open innovation, it is possible to note the need to consider the adoption of partnerships in the innovation process. Thus, this study proposes a method of technology roadmapping, identified as method for technology push (MTP), applicable to organizations that adopt the technology push integration strategy, such as SMEs and independent research centers in an open-innovation environment. The method was developed through action-research and was assessed from two analytical standpoints: externally, via a specific literature review on its theoretical contributions, and internally, through the analysis of potential users` perceptions on the feasibility of applying MTP. The results indicate both the unique character of the method and its perceived implementation feasibility. Future research is suggested in order to validate the method in different types of organizations (C) 2011 Elsevier Ltd. All rights reserved.

Integrating technology roadmapping and portfolio management at the front-end of new product development

Many authors point out that the front-end of new product development (NPD) is a critical success factor in the NPD process and that numerous companies face difficulties in carrying it out appropriately. Therefore, it is important to develop new theories and proposals that support the effective implementation of this earliest phase of NPD. This paper presents a new method to support the development of front-end activities based on integrating technology roadmapping (TRM) and project portfolio management (PPM). This new method, called the ITP Method, was implemented at a small Brazilian high-tech company in the nanotechnology industry to explore the integration proposal. The case study demonstrated that the ITP Method provides a systematic procedure for the fuzzy front-end and integrates innovation perspectives into a single roadmap, which allows for a better alignment of business efforts and communication of product innovation goals. Furthermore, the results indicated that the method may also improve quality, functional integration and strategy alignment. (C) 2010 Elsevier Inc. All rights reserved.

A QUALITY MANAGEMENT SYSTEM FOR POSITIONING WITH GNSS TECHNOLOGY

This paper presents a proposal for a Quality Management System for a generic GNSS Surveying Company as an alternative for management and service quality improvements. As a result of the increased demand for GNSS measurements, a large number of new or restructured companies were established to operate in that market. Considering that GNSS surveying is a new process, some changes must be performed in order to accommodate the old surveying techniques and the old fashioned management to the new reality. This requires a new management model that must be based on a well-described procedure sequence aiming at the Total Management Quality for the company. The proposed Quality Management System was based on the requirements of the Quality System ISO 9000:2000, applied to the whole company, focusing on the productive process of GNSS surveying work.

Implementation of a Control Loop Experiment in a Network-Based Control System With LonWorks Technology and IP Networks

Considering the increasing popularity of network-based control systems and the huge adoption of IP networks (such as the Internet), this paper studies the influence of network quality of service (QoS) parameters over quality of control parameters. An example of a control loop is implemented using two LonWorks networks (CEA-709.1) interconnected by an emulated IP network, in which important QoS parameters such as delay and delay jitter can be completely controlled. Mathematical definitions are provided according to the literature, and the results of the network-based control loop experiment are presented and discussed.

Technology assessment for power quality mitigation devices - Micro-DVR case study

This work presents a case study on technology assessment for power quality improvement devices. A system compatibility test protocol for power quality mitigation devices was developed in order to evaluate the functionality of three-phase voltage restoration devices. In order to validate this test protocol, the micro-DVR, a reduced power development platform for DVR (dynamic voltage restorer) devices, was tested and the results are discussed based on voltage disturbances standards. (C) 2011 Elsevier B.V. All rights reserved.

DEVELOPMENT OF A MICRO-HEAT EXCHANGER WITH STACKED PLATES USING LTCC TECHNOLOGY

A green ceramic tape micro-heat exchanger was developed using Low Temperature Co-fired Ceramics technology (LTCC). The device was designed by using Computational Aided Design software and simulations were made using a Computational Fluid Dynamics package (COMSOL Multiphysics) to evaluate the homogeneity of fluid distribution in the microchannels. Four geometries were proposed and simulated in two and three dimensions to show that geometric details directly affect the distribution of velocity in the micro-heat exchanger channels. The simulation results were quite useful for the design of the microfluidic device. The micro-heat exchanger was then constructed using the LTCC technology and is composed of five thermal exchange plates in cross-flow arrangement and two connecting plates, with all plates stacked to form a device with external dimensions of 26 x 26 x 6 mm(3).

An estimate of biometric parameters in eucalyptus clone plantations in Southern Bahia: an application of the airborne laser scanning (ALS) technology

The application of airborne laser scanning (ALS) technologies in forest inventories has shown great potential to improve the efficiency of forest planning activities. Precise estimates, fast assessment and relatively low complexity can explain the good results in terms of efficiency. The evolution of GPS and inertial measurement technologies, as well as the observed lower assessment costs when these technologies are applied to large scale studies, can explain the increasing dissemination of ALS technologies. The observed good quality of results can be expressed by estimates of volumes and basal area with estimated error below the level of 8.4%, depending on the size of sampled area, the quantity of laser pulses per square meter and the number of control plots. This paper analyzes the potential of an ALS assessment to produce certain forest inventory statistics in plantations of cloned Eucalyptus spp with precision equal of superior to conventional methods. The statistics of interest in this case were: volume, basal area, mean height and dominant trees mean height. The ALS flight for data assessment covered two strips of approximately 2 by 20 Km, in which clouds of points were sampled in circular plots with a radius of 13 m. Plots were sampled in different parts of the strips to cover different stand ages. The clouds of points generated by the ALS assessment: overall height mean, standard error, five percentiles (height under which we can find 10%, 30%, 50%,70% and 90% of the ALS points above ground level in the cloud), and density of points above ground level in each percentile were calculated. The ALS statistics were used in regression models to estimate mean diameter, mean height, mean height of dominant trees, basal area and volume. Conventional forest inventory sample plots provided real data. For volume, an exploratory assessment involving different combinations of ALS statistics allowed for the definition of the most promising relationships and fitting tests based on well known forest biometric models. The models based on ALS statistics that produced the best results involved: the 30% percentile to estimate mean diameter (R(2)=0,88 and MQE%=0,0004); the 10% and 90% percentiles to estimate mean height (R(2)=0,94 and MQE%=0,0003); the 90% percentile to estimate dominant height (R(2)=0,96 and MQE%=0,0003); the 10% percentile and mean height of ALS points to estimate basal area (R(2)=0,92 and MQE%=0,0016); and, to estimate volume, age and the 30% and 90% percentiles (R(2)=0,95 MQE%=0,002). Among the tested forest biometric models, the best fits were provided by the modified Schumacher using age and the 90% percentile, modified Clutter using age, mean height of ALS points and the 70% percentile, and modified Buckman using age, mean height of ALS points and the 10% percentile.