Frontiers in Blockchain aims to build rigour into a nascent but burgeoning research sector and establish the foundations of a future vibrant industry. The journal encourages collaboration and communication across the breadth of the blockchain community in industry and academia, and the Chief Editors, respected leaders in their field, play a key role in driving this advancement. This article collection presents the personal perspectives of the Chief Editors of Frontiers in Blockchain, exploring likely and possible future research challenges, opportunities and developments in their specialist sectors.

University College London

Centre for Citizenship, Enterprise and Governance

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Frontiers in Blockchain

Blockchain Technologies

Blockchain for Good

Financial Blockchain

Blockchain for Web3 and the Metaverse

Smart Contracts

Blockchain for Science

Fourth Industrial Revolution

Frontiers in Blockchain: Chief Editors' Perspectives

Since its launch just over a decade ago by the cryptocurrency Bitcoin, the distributed ledger technology (DLT) blockchain has followed a breathtaking trajectory into manifold application spaces. This study aper analyses how key factors underpinning the success of this ground-breaking “Internet of value” technology, such as staking of collateral (“skin in the game”), competitive crowdsourcing, crowdfunding, and prediction markets, can be applied to substantially innovate the legacy organization of science, research, and technology development (RTD). Here, we elaborate a highly integrative, community-based strategy where a token-based crypto-economy supports finding best possible consensus, trust, and truth by adding unconventional elements known from reputation systems, betting, secondary markets, and social networking. These tokens support the holder’s formalized reputation and are used in liquid-democracy style governance and arbitration within projects or community-driven initiatives. This participatory research model serves as a solid basis for comprehensively leveraging collective intelligence by effectively incentivizing contributions from the crowd, such as intellectual property work, validation, assessment, infrastructure, education, assessment, governance, publication, and promotion of projects. On the analogy of its current blockbusters like peer-to-peer structured decentralized finance (“DeFi”), blockchain technology can seminally enhance the efficiency of science and RTD initiatives, even permitting to fully stage operations as a chiefless decentralized autonomous organization (DAOs).

Since its launch just over a decade ago by the cryptocurrency Bitcoin, the distributed ledger technology (DLT) blockchain has followed a breathtaking trajectory into manifold application spaces. This study aper analyses how key factors underpinning the success of this ground-breaking &#x201c;Internet of value&#x201d; technology, such as staking of collateral (&#x201c;skin in the game&#x201d;), competitive crowdsourcing, crowdfunding, and prediction markets, can be applied to substantially innovate the legacy organization of science, research, and technology development (RTD). Here, we elaborate a highly integrative, community-based strategy where a token-based crypto-economy supports finding best possible consensus, trust, and truth by adding unconventional elements known from reputation systems, betting, secondary markets, and social networking. These tokens support the holder&#x2019;s formalized reputation and are used in liquid-democracy style governance and arbitration within projects or community-driven initiatives. This participatory research model serves as a solid basis for comprehensively leveraging collective intelligence by effectively incentivizing contributions from the crowd, such as intellectual property work, validation, assessment, infrastructure, education, assessment, governance, publication, and promotion of projects. On the analogy of its current blockbusters like peer-to-peer structured decentralized finance (&#x201c;DeFi&#x201d;), blockchain technology can seminally enhance the efficiency of science and RTD initiatives, even permitting to fully stage operations as a chiefless decentralized autonomous organization (DAOs).

Unchaining Collective Intelligence for Science, Research, and Technology Development by Blockchain-Boosted Community Participation

Contracts regulate most of our professional and personal life: they enable modern society to operate. The term “Smart Contract,” coined in 1994 by Nick Szabo, means different things to different people. This editorial perspective explores the meanings of the term “smart contract” and the challenges about the legality of “smart contracts.” We are familiar with contracts written in natural language, yet our relationships with smart contracts is yet to be defined. The advent of blockchain technology seems to have accelerated the development and the opportunities for the adoption of smart contracts. The purpose of this editorial is to create an interdisciplinary section where computer scientists and members of the legal profession participate in a constructive debate around smart contracts to positively influence future development.

Contracts regulate most of our professional and personal life: they enable modern society to operate. The term &#x201c;Smart Contract,&#x201d; coined in 1994 by Nick Szabo, means different things to different people. This editorial perspective explores the meanings of the term &#x201c;smart contract&#x201d; and the challenges about the legality of &#x201c;smart contracts.&#x201d; We are familiar with contracts written in natural language, yet our relationships with smart contracts is yet to be defined. The advent of blockchain technology seems to have accelerated the development and the opportunities for the adoption of smart contracts. The purpose of this editorial is to create an interdisciplinary section where computer scientists and members of the legal profession participate in a constructive debate around smart contracts to positively influence future development.

What Do We Mean by Smart Contracts? Open Challenges in Smart Contracts

Blockchain projects have been developed to extend the reach of distributed ledger technology (DLT) beyond cryptocurrency to achieve “good” in the world. Such projects may make a claim for moral, ethical, and responsible intent, but many researchers have not critically examined what good means in context. The concept of good has been debated for centuries and whilst we will not conclude the argument, we should engage in the discourse. We propose the idea that exploration across micro, meso, and macro levels of value creating ecosystems is needed. The implications, both practical and theoretical, of the use of blockchain for good require analysis. As the ambition for blockchain innovations to transform society for the better becomes practical reality, understanding of such change will come from transdisciplinary researchers able to bridge knowledge of social and technical systems.

Blockchain projects have been developed to extend the reach of distributed ledger technology (DLT) beyond cryptocurrency to achieve &#x201c;good&#x201d; in the world. Such projects may make a claim for moral, ethical, and responsible intent, but many researchers have not critically examined what good means in context. The concept of good has been debated for centuries and whilst we will not conclude the argument, we should engage in the discourse. We propose the idea that exploration across micro, meso, and macro levels of value creating ecosystems is needed. The implications, both practical and theoretical, of the use of blockchain for good require analysis. As the ambition for blockchain innovations to transform society for the better becomes practical reality, understanding of such change will come from transdisciplinary researchers able to bridge knowledge of social and technical systems.

Perspectives on “Good” in Blockchain for Good

Internet of Value: A Risky Necessity

Blockchain, IoT, and AI are key technologies driving the next wave of the digital transformation. We argue that these technologies will converge and will allow for new business models: Autonomous agents (i.e., sensors, cars, machines, trucks, cameras, and other IoT devices) will in the future act as own profit centers that (1) have a digital twin leveraging IoT, (2) send and receive money leveraging blockchain technology on their own, and (3) autonomously make decisions as independent economic agents leveraging AI and data analytics. We further argue that this convergence will drive the development of such autonomous business models and, with it, the digital transformation of industrial corporations.

Blockchain, IoT, and AI are key technologies driving the next wave of the digital transformation. We argue that these technologies will converge and will allow for new business models: Autonomous agents (i.e., sensors, cars, machines, trucks, cameras, and other IoT devices) will in the future act as own profit centers that (1) have a digital twin leveraging IoT, (2) send and receive money leveraging blockchain technology on their own, and (3) autonomously make decisions as independent economic agents leveraging AI and data analytics. We further argue that this convergence will drive the development of such autonomous business models and, with it, the digital transformation of industrial corporations.

Convergence of Blockchain, IoT, and AI

This paper explores the connection between software contracts and smart contracts. Despite the assonance, these two terms denote quite different concepts: software contracts are logical properties of software components, while smart contracts are programs executed on blockchains. What is the relation between them? We answer this question by discussing how to integrate software contracts in the design of programming languages for smart contracts.

This paper explores the connection between software contracts and smart contracts. Despite the assonance, these two terms denote quite different concepts: software contracts are logical properties of software components, while smart contracts are programs executed on blockchains. What is the relation between them? We answer this question by discussing how to integrate software contracts in the design of programming languages for smart contracts.