Abstract
Recently, the Bitcoin-underlying blockchain technology gained prominence as a solution that offers the realization of distributed trust-free systems, where economic transactions are guaranteed by the underlying blockchain. We are still at an early stage and thus require a deeper understanding of how the blockchain potentials can be realized, and what are the opportunities and challenges in so doing. Following a design science approach, we developed a proof of concept prototype that has the potential to replace a trust-based coffee shop payment solution that is based on an analogue, pre-paid punch card solution. The demonstrator provides a starting point to evaluate the strengths and weaknesses of the blockchain technology when replacing a trust-based by a trust-free transaction system. We conclude that the secure and trust-free blockchain-based transaction has the potential to change many existing trust-based transaction systems, but that scalability issues, costs, and volatility in the transaction currency are hindrances.
| Original language | English |
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| Title of host publication | Twenty-Fourth European Conference on Information Systems (ECIS), İstanbul,Turkey, 2016 |
| Number of pages | 14 |
| Publisher | Springer Publishing Company |
| Publication date | 2016 |
| Pages | 1-14 |
| Publication status | Published - 2016 |
| Event | 24th European Conference on Information Systems - Istanbul, Turkey Duration: 12 Jun 2016 → 15 Jun 2016 http://www.ecis2016.eu/en/ |
Conference
| Conference | 24th European Conference on Information Systems |
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| Country/Territory | Turkey |
| City | Istanbul |
| Period | 12/06/2016 → 15/06/2016 |
| Internet address |