From the article: "To extend the lifetime of products, an agent is connected to the product. This agent has several roles. It depends on the phase of the lifecycle what these roles will be. One of the roles in the usage or recycling phase is to negotiate for buying spare parts in case a part of the product is broken. The same agent can also decide to offer spare parts to other agents to reuse working parts of a broken product. To accomplish this idea, a marketplace for agents has to be set up, where the auctions can take place. To support this concept, blockchain technology has been used. Blockchains are a new type of technology, known from bitcoins, but there are other cases where blockchains can be used. Blockchain is known for its decentralisation, transparency and for making trustful transactions. In this paper the working of different types of blockchains will be briefly explained and determined if they can be useful for online auctions by agents. A prototype of the marketplace using blockchains has been built."
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Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. https://bitcoin.org/bitcoin.pdf outlined an alternative to the current monetary system in which banks are replaced by a peer-to-peer system to issue and transfer digital money: the Bitcoin. While Bitcoin has attracted a substantial investment volume, the system has not achieved the status of a viable alternative monetary system. However, the distributed ledger technology (DLT) underlying the payment system is being applied successfully by financial institutions and is likely to have important implications for the future of money and banking. In this paper we therefore focus on the most advanced distributed ledger application in the financial industry: R3 Corda. This paper is structured as follows. In the first section, we relate the debate about systems of money creation to the rise of Bitcoin. Next, the development of R3 Corda is discussed and the lessons learned for monetary reform. We conclude with an assessment of the scope and likelihood of monetary reform as a consequence of DLT applications by central banks.
Het boek ‘Ons geld is stuk en waarom bitcoin de oplossing is’ staat al weken in de bestseller top 10. Er is een grote markt voor verhalen over alles wat mis is met het geldstelsel, het financiële systeem en de banken. Helaas gaat op deze markt gerechtvaardigde kritiek vaak samen met gebrekkige analyses en het verkondigen van totale flauwekul. Hoewel genuanceerder van toon dan veel ander werk in dit genre is dat ook het geval bij dit boek, aldus Ewoud Jansen.
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