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Open Access Research paper Issue
Smart contract model for complex reality transaction
Tianyu Feng, Xiao Yu, Yueting Chai, Yi Liu
International Journal of Crowd Science 2019, 3(2): 184-197
Published: 16 August 2019
Abstract PDF (820.2 KB) Collect
Downloads：38
Purpose

The application of smart contract can greatly reduce transaction costs and improve transaction efficiency. The existing smart contract are expensive, single application scenario and inefficient. This paper aims to propose a new smart contract model to solve these problems.

Design/methodology/approach

By investigating the research history, models and platforms, this paper summarizes the shortcomings of existing smart contracts. Based on the content and architecture of traditional contract, a smart contract model with wider application scope is designed.

Findings

In this paper, several models are used to describe the operation mechanism of smart contracts. To facilitate computer execution, a decomposition method is proposed, which divides smart contracts into several sub-contracts. Then, the advantages and deployment methods of smart contract are discussed. On this basis, a specific example is given to illustrate how the application of smart contract will change our life.

Originality/value

Smart contract is gradually applied to more fields. In this paper, the structure and operation mechanism of smart contract system in reality are given, which will be beneficial to the application of smart contract to more complex systems.

Open Access Issue
Infra-Marginal Analysis Model for Provision Mode Selection for E-commerce Services
Xiao Yu, Yueting Chai, Yi Liu, Hongbo Sun
Tsinghua Science and Technology 2014, 19(2): 174-183
Published: 15 April 2014
Abstract PDF (372.3 KB) Collect
Downloads：17

E-commerce has grown extraordinarily since the emergence of the internet, and many types of services are employed to accelerate this process. Service quality and productivity are two critical indicators to evaluate the competitiveness of e-commerce companies. Deciding which provision mode of e-commerce services (buy, sell, or self-provide) to adopt is a key operational strategy issue. This paper investigates the conditions and limitations of e-commerce services’ optimal supply modes, and proposes a cost oriented infra-marginal model where service demand is considered an exogenous variable due to its non-elastic and unprofitable characteristics. By analyzing the main impact factors of this model, this paper infers provision mode selection strategies, which are determined by four factors: transaction cost, service price, service demand, and competitive advantages. Decision trees are derived from these strategies to help e-commerce companies make appropriate decisions. Finally, the proposed model’s feasibility is verified by two case studies.

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