2023, Kondova, Galia, Rüegg, Patrik, Yang, Xin-She, Sherratt, Simon, Dey, Nilanjan, Joshi, Amit

A central bank digital currency (CBDC) in comparison with other forms of digital money presents a direct claim on the issuing central bank. There are three architecture types of retail CBDCs, namely indirect CBDCs, hybrid CBDCs, and direct CBDCs, all based on blockchain technology. This paper briefly discusses these three types and outlines the major socio-economic effects this new e-government tool could have on the economy.

2021-01-19, Kondova, Galia, Dana, Léo-Paul

Entrepreneurship in the form of innovation-driven enterprises (IDEs) focuses on creating wealth through pursuing global opportunities to promote innovations. Successful IDEs usually follow a platform business model (PBM) that is conducive to the establishment of digital platforms and ecosystems. At the same time, the peer-to-peer decentralized nature of Blockchain seems to provide the perfect infrastructure for the implementation of the PBM. Blockchain is a decentralized and distributed network that ensures data integrity. Thus, the platform infrastructure provided by Blockchain promises to enable sustainable PBMs with positive network effects and unprecedented business growth.

2019, Zbinden, Fabian, Kondova, Galia

This paper studies recent economic and political developments in Mexico and the potential role of blockchain technology in improving governance and fighting corruption in the country. Mexico badly needs innovative solutions to fight the persistent problems of corruption and inefficient governance. At the same time, blockchain, being a decentralized technology, promises to reduce administrative costs and ensure transparency in the public services. The paper takes stock of the current state of blockchain implementation in the economy and in the public administration of Mexico as well as studies the advantages and disadvantages related to the further outspread of the technology in the country. Moreover, the work aims at drawing policy recommendations as to the future role of blockchain in the public management and economic development in Mexico.

2019, Kondova, Galia

The self-sovereign identity (SSI) builds on the notion that the identity provider (the user) possesses full control of their data. In particular, the user could store identity data and decide how much data they share. The user could also decide with whom to share their personal data. The implementation of the SSI concept seems to be fully supported by the features of blockchain technology, in particular, decentralization, peer-to-peer interactions and data integrity. The Sovrin SSI and the uPort SSI present two blockchain-based SSI applications that are explained in the presentation.

2022, Kondova, Galia, Rüegg, Patrik

A central bank digital currency (CBDC) in comparison with other forms of digital money presents a direct claim on the issuing central bank. There are three architecture types of retail CBDC, namely indirect CBDCs, hybrid CBDCs, and direct CBDCs, all based on blockchain technology. This paper briefly discusses these three types and outlines the major socio-economic effects this new e-government tool could have on the economy.

2021, Kondova, Galia, Kalra, Jay, Lightner, Nancy J., Taiar, Redha

This work studies the types of data stored in electronic health records (EHRs) and the associated data management practices. In addition, it explores blockchain as a technology that could facilitate trusted and privacy-preserving patient data sharing and access control management as demonstrated in several EHRs projects applying blockchain. Moreover, the paper discusses the perspective of a future adoption of a blockchain-based self-sovereign identity (SSI) in EHRs data management that could be the road ahead to ensure a patient-centric trusted data management.

2019, Kondova, Galia, Bandyopadhyay, Trishit

This paper applies a data envelopment analysis (DEA) to study the effect of non-bank financial intermediation on bank efficiency in the eight EU jurisdictions individually monitored under the Financial Stability Board (FSB) Global Shadow Banking Monitoring Report in the period 2014-2016. The efficiency analysis is conducted by applying a profit-based input-oriented DEA variable returns-to-scale model in a two-stage procedure. In the first stage, the average DEA efficiency scores are calculated. We find evidence that the average aggregate technical efficiency increased on average from 2014 to 2016. In the second stage, the impact of environmental factors like the Financial Stability Board’s (FSB) narrow measure on non-bank financial intermediation as well as macroeconomic factors is analyzed by conducting a Tobit regression. The results provide evidence of a negative relationship between non-bank financial intermediation and average bank efficiency and a positive impact of GDP on average bank efficiency.

2021-07-29, Kondova, Galia

This paper studies the types of data stored in electronic health records (EHRs) and the associated data management practices. In addition, it explores blockchain as a technology that could facilitate trusted and privacy-preserving patient data sharing and access control management as demonstrated in several EHRs projects applying blockchain. Moreover, the paper discusses the perspective of a future adoption of a blockchain-based self-sovereign identity (SSI) in EHRs data management that could be the road ahead to ensure a patient-centric trusted data management.

2019-07-12, Kondova, Galia, Simonella, Geremia

This paper provides a comparative analysis of the new blockchain-based start-up and small companies funding methods, namely, initial coin offerings (ICOs) and security token offerings (STOs) against the backdrop of traditional fundraising methods like venture capital and private equity building on the experience of Switzerland. In particular, the comparative analysis is based on a theoretical overview of the nature of these blockchain applications, the relevant legislative framework as well as recent market developments with a focus on Switzerland. The paper concludes that both ICOs and STOs are characterized by lower entry barriers for investors and higher cost efficiency as compared to traditional start-up fundraising methods. However, STOs provide more security to investors than ICOs due to their wider regulation.

2019, Kondova, Galia, Barba, Renato

This paper draws parallels between the OECD principle on disclosure and transparency and the decentralized autonomous organization (DAO) governance on a blockchain. It provides an overview of the DAO concept based on self-executing smart contracts on a blockchain. The blockchain keeps a record of data and transactions in a decentralized and immutable form. The self-executing smart contracts on a blockchain ensure transparency and automation of the decision-making process in a DAO. The paper concludes that a DAO governance structure provides for transparency and enables shareholders to exercise their rights in an informed way. Considering the early stage of development of DAOs, however, caution is needed especially with regards to potential protocol vulnerabilities and legal uncertainties.