In the current world of online contracts i.e. service level agreements (SLAs), contract breaches are usually compensated by gift vouchers, however in an emerging world of online contracts i.e. smart contracts, the breaches could potentially lead to court injunctions over blockchains. This research proposes Probability based Factor Model (PFM) that can be implemented over the blockchain to automatically is-sue court injunction for the breach, which has a potential to create sub-stantial damage and has high probability to occur in the future. The un-derlying concept in PFM is built upon the notion of factor analysis and stochastic modeling from the discipline of Data Science. High perfor-mance computing (HPC) cluster at University of Luxembourg (HPC @ Uni.lu) and docker (a software container platform) were used to emulate contractual environment of three service providers: Redis, MongoDB, and Memcached Servers. The results showed that court injunction(s) was issued only for Redis and MongoDB Servers. Technically, this difference could be attributed to the fact that Memcached is simply used for caching and therefore, it is less prone to breach of contract. Whereas, Redis and MongoDB as databases and message brokers are performing more complex operations and are more likely to cause a breach. The beneficiary of the research would be an enterprise that views breach of contract as a limiting factor for implementation of smart contract in cyber-physical system or internet of things.

Law as a Service (LaaS): Enabling Legal Protection over a Blockchain Network

WASIM, MUHAMMAD UMER
Membro del Collaboration Group
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In corso di stampa

Abstract

In the current world of online contracts i.e. service level agreements (SLAs), contract breaches are usually compensated by gift vouchers, however in an emerging world of online contracts i.e. smart contracts, the breaches could potentially lead to court injunctions over blockchains. This research proposes Probability based Factor Model (PFM) that can be implemented over the blockchain to automatically is-sue court injunction for the breach, which has a potential to create sub-stantial damage and has high probability to occur in the future. The un-derlying concept in PFM is built upon the notion of factor analysis and stochastic modeling from the discipline of Data Science. High perfor-mance computing (HPC) cluster at University of Luxembourg (HPC @ Uni.lu) and docker (a software container platform) were used to emulate contractual environment of three service providers: Redis, MongoDB, and Memcached Servers. The results showed that court injunction(s) was issued only for Redis and MongoDB Servers. Technically, this difference could be attributed to the fact that Memcached is simply used for caching and therefore, it is less prone to breach of contract. Whereas, Redis and MongoDB as databases and message brokers are performing more complex operations and are more likely to cause a breach. The beneficiary of the research would be an enterprise that views breach of contract as a limiting factor for implementation of smart contract in cyber-physical system or internet of things.
In corso di stampa
IEEE xplore (Digital Library)
1
6
Muhammad Umer Wasim, ; Ibrahim, Abdallah A. Z. A.; Pascal, Bouvry; Tadas, Limba
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11585/613464
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