Enabling the Internet of Value: How Blockchain Connects Global Businesses (Future of Business and Finance)

✍ Scribed by Nikhil Vadgama (editor), Jiahua Xu (editor), Paolo Tasca (editor)

• Publisher: Springer
• Year: 2022
• Tongue: English
• Leaves: 209
• Edition: 1st ed. 2022
• Category: Library

✦ Synopsis

This book shows how blockchain technology can transform the Internet, connecting global businesses in disruptive ways. It offers a comprehensive and multi-faceted examination of the potential of distributed ledger technology (DLT) from a new perspective: as an enabler of the Internet of Value (IoV).   

The authors discuss applications of blockchain technology to the financial services domain, e.g. in real estate, insurance and the emerging Decentralised Finance (DeFi) movement. They also cover applications to the media and e-commerce domains.  DLT’s impacts on the circular economy, marketplace, Internet of Things (IoT) and oracle business models are also investigated. In closing, the book provides outlooks on the evolution of DLT, as well as the systemic governance and privacy risks of the IoV.  

The book is intended for a broad readership, including students, researchers and industry practitioners.

✦ Table of Contents

Foreword
Acknowledgements
Contents
About the Editors
Introduction to the Internet of Value
1 Defining the Internet of Value
1 From the Internet of Information towards the Internet of Value
2 A definition of the ``Internet of Value''
3 Core Elements of the IoV
4 Economic Impact
5 Conclusions
2 Internet of Value: A Risky Necessity
1 The Internet of Value Driving Forces
2 The Internet of Value Risks
How DLT Will Evolve in the Future
3 Blockchains, DLTs and the Future of Payments
1 DLT and Payments Transformation
2 Towards Efficient and Automated M2M Transactions
4 Consensus: Proof of Work, Proof of Stake and Structural Alternatives
1 IOTA and Tangle
2 Proof of Stake
3 Proof of Burn
The Internet of Value and Financial Services
5 The New Internet of Value Financial Ecosystem
1 A Tokenised World
2 Decentralised Consensus Based on State
2.1 Virtual Digital Tokens
2.2 Digital Representations of Offline Assets
3 Decentralised Consensus Based on Procedure
3.1 Smart Contracts
3.2 DApps
3.3 DAOs
4 Decentralised Consensus Based on Agency
4.1 Governance on the Blockchain
4.2 Governance of the Blockchain
5 Conclusion
6 From Banks to DeFi: The Evolution of the Lending Market
1 Introduction
2 Lending in the Conventional Financial Market
2.1 Banks
2.2 Lending Companies and Marketplaces
3 Challenges with the Mainstream Lending Market
4 Paradigm Shift in Lending Enabled by the Internet of Value
4.1 Key Components of DeFi Lending Protocols
4.2 Major DeFi Lending Protocols
4.3 Current Use Cases
4.4 Advantages of DeFi Lending Protocols
5 Discussion
5.1 Status Quo of DeFi Lending Protocols
5.2 Coevolution of DeFi and CeFi
6 Outlook of the Lending Market—the Path to the Internet of Value
7 Real Estate and the Internet of Value
1 Introduction
2 Applications of DLT in Real Estate
2.1 Building Information Management
2.2 Construction Supply Chains
2.3 Title Creation
2.4 Property Search and Acquisition
2.5 Due Diligence and Financial Evaluation
2.6 Real Estate Investing/Tokenisation
2.7 Title Management
2.8 Financing and Payment Systems
2.9 Property Management
3 The Digital Streets Application
3.1 Conveyancing
3.2 Current Limitations and Pain Points
3.3 DLT Solution
3.4 Deployed Solution
3.5 Successes and Benefits
3.6 Moving from Proof of Concept to Deployment
4 Challenges
4.1 Regulation
4.2 Interoperability
4.3 Coopetition Paradox
4.4 Widespread Adoption
5 Real Estate and the Internet of Value
The Internet of Value and Media
8 New Media Business Models to Emerge from the Internet of Value
1 Background
1.1 Business Imperative
1.2 Regulatory Imperative
2 The IoV Promise to Media and Entertainment
2.1 Tokenisation of Media Assets
2.2 Smart Contracts
2.3 Data Architectures
3 Solving Problems
3.1 What It Will Take
3.2 Where We Are
4 Seizing Opportunities
4.1 Metered Consumption and Micropayments
4.2 Creativity, Consumption and Granularity
4.3 A Secondary Market for Media Assets
4.4 Next-Generation Engagement
9 Solving Challenges in the Media Sector with DLT
1 The Changing Structure of the Media Sector
1.1 Media and Distributed Ledger Technologies
1.2 The Value of Media in Modern Society
1.3 Macro-Level Changes in Key Attributes of Media
1.4 Key Providers of Media Value on the Internet
2 Key Challenges in the Modern Media Sector
2.1 Fake News
2.2 Disruption of the Professional Media Sector
2.3 Echo Chamber
2.4 Online Advertisement Fraud
3 Benefits of Blockchain/DLT and General Use Cases
3.1 Anti-tampering
3.2 Value Circulation
3.3 Traceability
4 Solutions for the Media Sector
5 Conclusion
The Internet of Value and E-Commerce
10 The Internet of Value in Consumer Markets
1 Introduction
2 Loyalty
3 Direct to Consumer
4 Servitisation
5 Sustainability
6 Data
7 Self-sovereign Identity
8 Conclusion
11 Marketplaces and the Internet of Value
1 Blockchain Powering the New Marketplace Model
2 Mega Marketplaces Today
3 Marketplace for Everything Built Using Blockchain Technology
4 Are Decentralised Marketplaces Realistic?
5 Consensus Mechanism for a Trusted, Peer-to-Peer Marketplace—POS+
6 How a Trusted, Peer-to-Peer Product Marketplace Can Replace Amazon or Alibaba
7 OpenBazaar: A Decentralised Marketplace
8 Conclusion
12 The Internet of Value and the Circular Economy
1 Introduction to the Circular Economy
2 A Primer on the Circular Economy
3 How the Internet of Value and E-Commerce Can Help
3.1 The Three Pillars of the Circular Economy
4 Circular Economy for the Fashion Industry
5 MonoChain as an Example of a Circular Economy Fashion Company
5.1 Non-Fungible Tokens
6 Conclusion
Internet of Things and Oracles
13 The Internet of Value and Internet of Things
1 Internet of Things and Related Business Models
2 Inefficiencies in Current IoT Business Models
3 How the IoV and Blockchain Can Help
4 The IoT/Blockchain Business Model Canvas and Industry Applications
5 Blockchain Projects Utilising IoT
6 A Final Remark on AI and 5G
14 Oracles and Internet of Things in the Internet of Value
1 Introduction
2 Oraclised Data
2.1 Oracle and Trust
3 Oracles in Real Estate
3.1 Oracle Applications to Real Estate Appraisal and Data
3.2 Oracle Applications to Real Estate Legal Contracts
4 Oracles and IoT Applications to Insurance
4.1 Oracles Applications to Insurance During Covid-19
4.2 IoT as Oracles in Insurance
5 Oracle Reliability and Trust
6 Conclusion
Internet of Value and Systemic Risk
15 Structure, Robustness and Efficiency of Networked Systems
1 Introduction
2 Random Networks
3 Large-Scale Connectivity of Random Networks
4 Robustness of Random Networks
5 Spreading Processes of Random Networks
6 Conclusion
16 Potential Sources of Internet of Value Systemic Risk
Governance and Privacy Issues from the Internet of Value
17 Governance and Privacy Issues from the Internet of Value
1 Introduction
2 Governmental/Regulatory Governance
3 Corporate/Technology Governance
4 Practical Development of Governance and Privacy with the IoV
5 Collaborative Governance of the IoV
6 A Way Forward
Executive Summary
A.1 The Internet of Value
A.1.1 The Motivation for This Book
A.1.2 Key Takeaways