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  • Publikation
    Self-sovereign identity on public blockchains and the GDPR
    (ACM, 01.04.2020) Kondova, Galia; Erbguth, Jörn [in: Proceedings of the 35th Annual ACM Symposium on Applied Computing]
    This paper studies three existing technical solutions for a self-sovereign identity on blockchains and analyzes the arising issues related to the General Data Protection Regulation (GDPR) of the European Union (EU). In particular, the paper provides an overview of the existing Sovrin self-sovereign identity on the Hyperledger Indy public permissioned blockchain as well as uPort and Jolocom on the Ethereum public permissionless blockchain. The paper then concludes with a discussion on the GDPR-compliance of the blockchain-based identity concepts.
    04B - Beitrag Konferenzschrift
  • Publikation
    Blockchain in Startup Financing: ICOs and STOs in Switzerland
    (North American Business Press, 12.07.2019) Simonella, Geremia; Kondova, Galia; Simonella, Geremia [in: Journal of Strategic Innovation and Sustainability]
    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.
    01A - Beitrag in wissenschaftlicher Zeitschrift
  • Publikation
    The “Crypto Nation” Switzerland 2018
    (Verlag IFZ – Hochschule Luzern, 30.10.2018) Kondova, Galia; Nadig, Linard; Egle, Ulrich [in: CARF Luzern 2018. Controlling, Accounting, Risiko, Finanzen. Konferenzband]
    This evaluation case study analyzes developments related to crypto assets and the underlying crypto technology in the case of Switzerland. The canton of Zug was the first public institution worldwide to accept the cryptocur-rency Bitcoin as an official means of payment in 2016. Since then the Zug region has developed into "Crypto Valley" by attracting around 350 blockchain companies and the foundation behind the cryptocurrency Ethereum. However, in 2018 the value of Bitcoin sharply dropped. Moreover, numerous cases of cyber thefts have been reported worldwide recently. In this context, is the idea for Switzerland to focus on the crypto industry providing an opportunity for the country to claim its leading position in innovation and technology? Or would this be rather a risk for the country and its financial sector? The students are asked to undertake an evaluation based on a SWOT analysis and the Porter Diamond Model.
    04B - Beitrag Konferenzschrift
  • Publikation
    Swiss Cantonal Banks: A DEA Efficiency and Productivity Analysis
    (Horizon, 30.05.2018) Kondova, Galia; Bandyopadhyay, Trishit; Bobst, David; Hummel, Tobias [in: Universal Journal of Accounting and Finance]
    This paper applies a data envelopment analysis (DEA) to study the efficiency and productivity changes in the Swiss cantonal bank sector in the period 2006-2014. The efficiency analysis is conducted by applying the production input-oriented DEA variable returns to scale model in a three-stage procedure. The productivity is studied by estimating a DEA-based Malmquist Productivity Index (MPI) that provides evidence of increasing productivity growth on average for the sector in the studied period. The main source of productivity growth as per the components of the Banker, Charnes and Cooper (BCC) MPI model is related to a frontier-shift (technological innovation) rather than to improvements in the technical efficiency. The decreasing average DEA scores in the post-global financial crisis period of 2008-2014 further support this finding. In the second stage of the efficiency analysis, the environmental factors influencing the productivity growth are analysed by conducting a general method of moments (GMM) regression. The results provide evidence of a positive and statistically significant relationship between the new annual residences per canton and technical efficiency. In the third stage, the environmental variables from the second-stage regression are included within the constraints of the first-stage DEA model as proposed by Ray [1]. The third-stage DEA scores support the evidence of slightly decreasing average post-global crisis technical efficiency. The overall average technical efficiency in the Swiss cantonal banking sector, however, remains at a relatively high level in the studied period.
    01A - Beitrag in wissenschaftlicher Zeitschrift
  • Publikation
    Schweizer KMU in China - Erfahrungen, Analysen und Lösungsansätze
    (Fachhochschule Nordwestschweiz FHNW, 01/2019) Wombacher, Jörg; Nützi, Ruedi; Wittmann, Xinhua
    02 - Monographie