Distributed ledger technology for smart cities, the sharing economy, and social compliance
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Published version
OA Location
Author(s)
Ferraro, Pietro
King, C
Shorten, Robert
Type
Journal Article
Abstract
This paper describes how distributed ledger technologies (DLTs) can be used to enforce social contracts and to orchestrate the behavior of agents trying to access a shared resource. The first part of this paper analyzes the advantages and disadvantages of using DLTs architectures to implement certain control systems in an Internet of Things (IoT) setting and then focuses on a specific type of DLT based on a directed acyclic graph. In this setting, we propose a set of delay differential equations to describe the dynamical behavior of the Tangle, an IoT-inspired directed acyclic graph designed for the cryptocurrency IOTA. The second part proposes an application of DLTs as a mechanism for dynamic deposit pricing, wherein the deposit of digital currency is used to orchestrate access to a network of shared resources. The pricing signal is used as a mechanism to enforce the desired level of compliance according to a predetermined set of rules. After presenting an illustrative example, we analyze the control system and provide sufficient conditions for the stability of the network.
Date Issued
2018-10-18
Date Acceptance
2018-10-08
Citation
IEEE Access, 2018, 6 (1), pp.62728-62746
ISSN
2169-3536
Publisher
Institute of Electrical and Electronics Engineers
Start Page
62728
End Page
62746
Journal / Book Title
IEEE Access
Volume
6
Issue
1
Copyright Statement
© 2018 IEEE.
Identifier
http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000450588000001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=1ba7043ffcc86c417c072aa74d649202
Subjects
Science & Technology
Technology
Computer Science, Information Systems
Engineering, Electrical & Electronic
Telecommunications
Computer Science
Engineering
Distributed ledger technology
social compliance
smart cities
TRANSACTIVE CONTROL
BLOCKCHAIN
ARCHITECTURE
FRAMEWORK
SECURITY
SYSTEMS
DESIGN
Publication Status
Published
Date Publish Online
2018-10-18