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A probative value for authentication use case blockchain

Dominique Guégan and Christophe Henot ()
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Dominique Guégan: University Paris 1 Panthéon-Sorbonne and LabEx ReFi
Christophe Henot: University Paris 1 Panthéon-Sorbonne and LabEx ReFi

Digital Finance, 2019, vol. 1, issue 1, 91-115

Abstract: Abstract The Fintech industry has facilitated the development of companies using blockchain technology. The use of this technology inside banking system and industry opens the route to several questions regarding the business activity, legal environment, and insurance devices. In this paper, considering the creation of small companies interested to develop their business with a public blockchain, we analyse from different aspects why a company (in banking or insurance system, and industry) decides that a blockchain protocol is more legitimate than another one for the business which it wants to develop looking at the legal (in case of dispute) points of view. We associate with each blockchain a probative value which permits to assure in case of dispute that a transaction has been really done. We illustrate our proposal using 13 blockchains providing in that case a ranking between these blockchains for their use in business environment. We associate with this probative value some main characteristics of any blockchain as market capitalization and log-return volatilities that the investors need to also take into account with the new probative value for their managerial strategy.

Keywords: Attack; Blockchain; Crypto-currency; Probative value; Evidential value; Hash rate; Immutability; Mining; Proof-of-Work; Regulation; Volatility (search for similar items in EconPapers)
JEL-codes: C9 E42 G18 G32 K23 (search for similar items in EconPapers)
Date: 2019
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