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Emergence of Blockchain Applications with the 6G-Enabled IoT-Based Smart City
Published in Vinay Rishiwal, Sudeep Tanwar, Rashmi Chaudhry, Blockchain for 6G-Enabled Network-Based Applications, 2023
Meenu Gupta, Chetanya Ved, Meet Kumari
Web3.0 introduces the concept of decentralized applications, which run on smart contracts [15, 22]. Smart contracts are self-executing programs that run based on a certain agreement. The underlying principle of smart contracts is based upon the Turing machine concept. These contracts are also responsible for creating a decentralized network. Decentralized organizations run based on smart contracts, and those organizations are known as DAO (decentralized application organizations). A group of developers manages these organizations, and code is maintained and updated autonomously by smart contracts. Until now, smart contracts had limited applications. But when integrated with IoT, they have numerous applications: maintaining trustability and security among trusted and nontrusted organizations.
Convergence of IoT, AI, and Blockchain
Published in Neeraj Kumar, N. Gayathri, Md. Arafatur Rahman, B. Balamurugan, Blockchain, Big Data and Machine Learning, 2020
P. Hamsagayathri, K. Rajakumari, P. Ramya, K. Shoukath Ali
Bitcoin is the first footstep to introduce blockchain to the world. It allows for the financial exchanges across the borders and totally replace the third party for security and exchange overhead cost. In spite of the fact that bitcoin is effective and advancements in blockchain have exhibited their value in both financial and non-financial frameworks.The use of smart contracts over blockchain shows the extent of the effect of blockchain. The decentralized autonomous organization (DAO) is a design where it can exist on Ethereum blockchain and whose target is shown based on a collection of smart contracts. It keeps running alone without human intercession. Any changes made to the association must pass through all individuals or in all likelihood it won’t happen. A DAO can connect with different DAOs and execute smart contracts in them. This ascent new plan of action with wide execution scope. Even government bodies and various organizations can envision an application to run over blockchain using the idea of DAO.
Blockchain and the Financial Industry
Published in Kuan-Ching Li, Xiaofeng Chen, Hai Jiang, Elisa Bertino, Essentials of Blockchain Technology, 2019
Giovanni Cucchiarato, Giacomo Bocale
The DAO qualified as a “decentralized autonomous organization”, a sort of “virtual company” operating through the combination of algorithms and computer codes executed on a blockchain (the so called “smart contracts”). The DAO was established as a for-profit entity, with the aim of creating and selling digital tokens (the “DAO Tokens”) to the investment public. The amount of capital raised through the offer was to be used for the financing of future projects.
Data-driven review of blockchain applications in supply chain management: key research themes and future directions
Published in International Journal of Production Research, 2023
Truong Van Nguyen, Hiep Cong Pham, Minh Nhat Nguyen, Li Zhou, Mohammadreza Akbari
DAO is one of the most interesting technologies emanated from BC, which refers to a new form of organisations where cooperation and coordination between members are automatically enforced by a set of predefined, tamper-resistant rules encoded in smart contracts (Zhao et al. 2022). Operated by a distributed governance among members rather than by a central government/manager, DAO can offer huge benefits in increasing operation efficiency, transparency, privacy, reliability, resilience and reducing transaction cost (Saurabh, Rani, and Upadhyay 2022).