Don't Slip on the Initial Coin Offering (ICO) : A Taxonomy for a Blockchain-enabled Form of Crowdfunding

in 26th European Conference on Information Systems (ECIS) (2018)

Blockchain is rapidly evolving and there is an increasing interest in the technology in both prac-tice and academia. Recently, a blockchain use case called Initial Coin Offering (ICO) draws a lot of ... [more ▼]

Blockchain is rapidly evolving and there is an increasing interest in the technology in both prac-tice and academia. Recently, a blockchain use case called Initial Coin Offering (ICO) draws a lot of attention. ICO is a novel form of crowdfunding that utilizes blockchain tokens to allow for tru-ly peer-to-peer investments. Although, more than 4.5 billion USD have been invested via ICOs, the phenomenon is poorly understood. Scientific research lacks a structured classification of ICOs to provide further insights into their characteristics. We bridge this gap by developing a taxonomy based on real-world ICO cases, related literature, and expert interviews. Further, we derive and discuss prevailing ICO archetypes. Our findings contribute to theory development in the field of ICOs by enriching the descriptive knowledge, identifying design options, deriving ICO archetypes, and laying the foundation for further research. Additionally, our research pro-vides several benefits for practitioners. Our proposed taxonomy illustrates that there is no one-size-fits-all model of ICOs and might support the decision-making process of start-ups, investors and regulators. The proposed ICO archetypes indicate how common ICOs are designed and thus might serves as best practices. Finally, our analysis indicates that ICOs represent a valid alter-native to traditional crowdfunding approaches. [less ▲]

Blockchain and smart contracts : Technologies, research issues and applications

Report (2018)

This position paper analyzes blockchain technology from a scientific and application-oriented perspective of the Fraunhofer-Gesellschaft. It examines relevant technical aspects and related research ... [more ▼]

This position paper analyzes blockchain technology from a scientific and application-oriented perspective of the Fraunhofer-Gesellschaft. It examines relevant technical aspects and related research questions. This shows that the technology still has fundamental research and development challenges in all areas. These include, for example, the modularization of individual blockchain concepts as well as their combination and integration for application-specific blockchain solutions. The investigation of fields of application and industries that can best benefit from the new technology shows that different properties of the blockchain are relevant for a field of application are. While the automation potential associated with smart contracts is essential for the Internet of Things, it is the irreversibility of the transactions managed for applications in the areas of supply chain, digital media or for guarantees of origin. However, the decisive aspect is that the blockchain is of great relevance for many different areas of application outside of the financial sector and, above all, independent of cryptocurrencies. The paper provides a list of criteria to identify applications that are suitable for using a blockchain. that the blockchain is of great relevance for many different areas of application outside of the financial sector and, above all, independent of cryptocurrencies. The paper provides a list of criteria to identify applications that are suitable for the use of a blockchain. that the blockchain is of great relevance for many different areas of application outside of the financial sector and, above all, independent of cryptocurrencies. The paper provides a list of criteria to identify applications that are suitable for using a blockchain. [less ▲]

Cross-Organizational Workflow Management Using Blockchain Technology : Towards Applicability, Auditability, and Automation

in 51st Annual Hawaii International Conference on System Sciences (HICSS) (2018)

Bringing Blockchain technology and business process management together, we follow the Design Science Research approach and design, implement, and evaluate a Blockchain prototype for cross-organizational ... [more ▼]

Bringing Blockchain technology and business process management together, we follow the Design Science Research approach and design, implement, and evaluate a Blockchain prototype for cross-organizational workflow management together with a German bank. For the use case of a documentary letter of credit we describe the status quo of the process, identify areas of improvement, implement a Blockchain solution, and compare both workflows. The prototype illustrates that the process, as of today paper-based and with high manual effort, can be significantly improved. Our research reveals that a tamper-proof process history for improved auditability, automation of manual process steps and the decentralized nature of the system can be major advantages of a Blockchain solution for cross-organizational workflow management. Further, our research provides insights how Blockchain technology can be used for business process management in general. [less ▲]

Initial conditions for the marketing of flexibility in demand: status quo analysis and meta-study

Report (2017)

Die vorliegende Arbeit ist Teil des durch das Bundesministerium für Bildung und Forschung geförderten Forschungsprojektes Synchronisierte und energieadaptive Produktionstechnik zur flexiblen Ausrichtung ... [more ▼]

Die vorliegende Arbeit ist Teil des durch das Bundesministerium für Bildung und Forschung geförderten Forschungsprojektes Synchronisierte und energieadaptive Produktionstechnik zur flexiblen Ausrichtung von Industrieprozessen auf eine fluktuierende Energieversorgung (SynErgie). Ziel des Forschungsprojektes ist die Befähigung der energieintensiven Industrien in Deutschland, die Stromnachfrage dem zunehmend fluktuierenden Stromangebot anzupassen. In der Vergangenheit waren Stromsysteme in der Regel dahingehend ausgelegt, dass die Erzeugungsseite des Marktes an das zeitliche Verhalten des Verbrauchs angepasst war. Durch den verstärkten Ausbau volatiler erneuerbarer Energien unterliegt die Stromerzeugung jedoch unkontrollierbaren, wetterabhängigen Schwankungen, weshalb eine Flexibilisierung des Gesamtsystems zunehmend an Bedeutung gewinnt. Die in SynErgie betrachteten Industrieprozesse stellen dabei eine Teilmenge potenzieller Flexibilisierungsoptionen dar und können zur Lastanpassung an schwankende Erzeugung sowie zur Bereitstellung von Systemdienstleistungen und Entlastung der Netze beitragen. In einem liberalisierten, wettbewerblichen Strommarkt sind im Hinblick auf die Erschließung der Potenziale der Nachfrageflexibilität die marktlichen und regulatorischen Rahmenbedingungen von hoher Relevanz. Diese Studie beschreibt daher zunächst die Grundlagen des Strommarktdesigns und des konstituierenden gesetzlichen Rahmens. Dabei wird stets der Bezug zur Anwendung auf Industrieprozesse genommen und potenzielle Hemmnisse der Partizipation flexibler Nachfrageprozesse aufgearbeitet. Die Analyse bildet den Ausgangspunkt für die folgenden Arbeitspakete im Cluster IV und dient der clusterübergreifenden Information über den Status Quo der Marktstrukturen und regulatorischen Rahmenbedingungen. Neben der systematischen Aufarbeitung des marktlichen Rahmens werden die wissenschaftliche Literatur sowie bereits publizierte Studien zum Thema Nachfrageflexibilität (Demand Side Management und Demand Response) in einer Metastudie analysiert und zusammengefasst. [less ▲]

Shifting Load through Space : the Economics of Spatial Demand Side Management Using Distributed Data Centers

in Energy Policy (2017)

Open Mobility System OMOS : The Joint Journey towards Seamless Mobility

Report (2017)

Digitalization has redefined many aspects of our daily lives and continues to do so. Increasingly, it is also redefining how we perceive and experience mobility and transportation. With this paper, we ... [more ▼]

Digitalization has redefined many aspects of our daily lives and continues to do so. Increasingly, it is also redefining how we perceive and experience mobility and transportation. With this paper, we wish to offer a way of capitalizing on this transformation. It is our shared opinion that, as of today, we will need to build a cooperative new digital mobility infrastructure beyond company borders and across established industries. We thus extend an invitation to contributors from around the globe - companies, scientific and governmental institutions, and commuters - to join us and shape this digital mobility infrastructure together. [less ▲]

Development of Disruptive Innovations with Blockchain: The Way to the Right Use Case

in Wirtschaftsinformatik & Management (2017)

Rethinking Short-Term Electricity Market Design : Options for Market Segment Integration

in 14th International Conference on the European Energy Market (2017)

Electricity market design varies across countries throughout Europe. Thereby the provision and remuneration of flexibility always takes place in short-term market segments. Taking into consideration the ... [more ▼]

Electricity market design varies across countries throughout Europe. Thereby the provision and remuneration of flexibility always takes place in short-term market segments. Taking into consideration the fundamental changes of the power system, this paper discusses options for the future short-term market design. We develop a conceptual basis for a possible integration of currently separated short-term market segments. Market segment integration (MSI) is defined as the interaction between and possible combination of market segments, i.e. intraday market (ID), congestion management (CM) and balancing market (BA). The paper especially focusses on two options, namely an integrated BA and CM market and an integrated ID and CM market. For these options we determine the basic design features. We propose a criteria catalogue which allows the evaluation of the market design options. Based on several criteria we discuss possible positive and negative consequences as well as potential solutions. [less ▲]

Forging a Double-Edged Sword : Resource Synergies and Dependencies in Complex IT Project Portfolios

in 38th International Conference on Information Systems (ICIS) (2017)

These days, due to the high level of interactions between individual projects, IT project portfolios are best described as IT project networks. While varied and frequent interactions between single IT ... [more ▼]

These days, due to the high level of interactions between individual projects, IT project portfolios are best described as IT project networks. While varied and frequent interactions between single IT projects create additional risks, they also generate the possibility of additional synergistic effects. This, however, is not reflected in current methods for IT project portfolio evaluation and project portfolio selection, which neither account for specific network characteristics nor do they clearly distinguish between the types of interaction and their effects. In this paper, we model resource synergies and dependencies within IT project networks by means of weighted, undirected and directed graphs and describe how alpha centrality allows for an assessment of both. We further illustrate the importance of accounting for network characteristics and the equal importance of distinguishing between resource synergies and resource dependencies. Our model can therefore be applied to gain practical insights on IT project portfolios [less ▲]

Providing Utility to Utilities : the Value of Information Systems Enabled Flexibility in Electricity Consumption

in Journal of the Association for Information Systems (2016), 17(8), 537--563