۱- Introduction

۲- Materials and methods

۳- Results

۴- Discussion of results

۵- Conclusion and Outlook

References

Abstract

Blockchain aims to transform businesses and other forms of transactions from a centralized, human-based to a shared, algorithm-based trust model, which enables a new risk management paradigm. Misaligned incentives in different principal – agent scenarios are important risk factors from governance point of view. With blockchain, these misalignments are accounted for algorithmically, therefore novel governance models are possible. What role do risks play in terms of deciding for, or against the adoption of blockchain? How to best define requirements to achieve it? This paper explores standards and risk as factors, which can support or hinder the sustained application of blockchain in a broad scope of environments. We conducted a systematic literature review that outlines a current understanding of perceived risk surrounding the adoption and use of blockchain technology in the context of requirements engineering. Furthermore, selected models for managing risks are presented. Finally, areas where deeper research is required are identified. We conclude that a gap exists in normative frameworks that affect the adoption and sustainable use of blockchain technology. Closing this gap can support the sustainable use of blockchain technology.

Introduction

Blockchain is a shared, distributed and synchronized ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible, such as a house, car, money, land, or intangible, such as intellectual property, energy, patents or copyright. Virtually anything of value can be tracked and traded on a blockchain network [12]. A ledger is comprised of unchangeable, digitally recorded data in blocks. These blocks are stored in a chain and are spread across multiple servers in a public or private peer-to-peer network to eliminate manipulation. The synchronization of the ledger database, the agreement of content and transactions within the ledger, requires a validating consensus protocol between all parties [3]. The protocol effectively manages the risks associated with entries on the ledger, e.g., double spending. Blockchains can be either private, or permissioned, which allows only selected parties to submit and validate transactions, or public and unpermissioned, which enables anybody to submit a transaction and participate in validating the network. Hybrid versions exist as well. These alternatives present different challenges with respect to risk management. There appears to be high expectations and potential promise for blockchain technology’s contribution to sustainable socio-economic advances, due to the technology’s functions for increasing the transparency and traceability of goods, services and any other assets, facilitating market access and improving the efficiency of transactions.