Skip to main content

Trading Stocks on Blocks - Engineering Decentralized Markets

  • Conference paper
  • First Online:
Book cover Designing the Digital Transformation (DESRIST 2017)

Abstract

As an infrastructure for economic systems, blockchain technology challenges the role of traditional intermediaries and enables the creation of novel market designs and value chains. We utilize this potential and design a decentralized market framework that allows users to trade complex financial assets, such as stocks, in an intermediary-free setup. Overall, our prototype implements the basic software structure of this market framework, illustrates the feasibility of decentralized market mechanisms, and highlights potential use cases as well as limitations.

B. Notheisen—Financial support of Boerse Stuttgart is gratefully acknowledged.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Beck, R., Stenum Czepluch, J., Lollike, N., Malone, S.: Blockchain - the gateway to trust-free cryptographic transactions. In: ECIS Proceedings (2016)

    Google Scholar 

  2. Buterin, V.: Ethereum White Paper: A Next-Generation Smart Contract and Decentralized Application Platform (2013). https://goo.gl/VSZs4I

  3. Duffie, D., Gârleanu, N., Pedersen, L.H.: Over-the-counter markets. Econometrica 73(6), 1815–1847 (2005)

    Article  MathSciNet  MATH  Google Scholar 

  4. Greiner, M., Hui, W.: Trust-free systems - a new research and design direction to handle trust-issues in P2P systems: the case of bitcoin. In: AMCIS Proceedings (2015)

    Google Scholar 

  5. Hevner, A.R., March, S.T., Park, J., Sudha, R.: Design science in information systems research. MIS Q. 1(28), 75–105 (2004)

    Google Scholar 

  6. Jentzsch, C.: Decentralized Autonomous Organization to Automate Governance (2016). https://download.slock.it/public/DAO/WhitePaper.pdf

  7. Lustig, C., Nardi, B.: Algorithmic authority: the case of bitcoin. In: HICSS Proceedings, pp. 743–752 (2015)

    Google Scholar 

  8. Peffers, K., Tuunanen, T., Rothenberger, M.A., Chatterjee, S.: A design science research methodology for information systems research. J. Manag. Inf. Syst. 24(3), 45–77 (2007)

    Article  Google Scholar 

  9. Wood, G.: Ethereum: A Secure Decentralised Generalised Transaction Ledger (2014). https://github.com/ethereum/yellowpaper

  10. Xu, X., Pautasso, C., Liming, Z., Gramoli, V., Ponomarev, A., Chen, S.: The blockchain as a software connector. In: 13th Working IEEE/IFIP Conference on Software Architecture (WICSA) (2016)

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Benedikt Notheisen .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2017 Springer International Publishing AG

About this paper

Cite this paper

Notheisen, B., Gödde, M., Weinhardt, C. (2017). Trading Stocks on Blocks - Engineering Decentralized Markets. In: Maedche, A., vom Brocke, J., Hevner, A. (eds) Designing the Digital Transformation. DESRIST 2017. Lecture Notes in Computer Science(), vol 10243. Springer, Cham. https://doi.org/10.1007/978-3-319-59144-5_34

Download citation

  • DOI: https://doi.org/10.1007/978-3-319-59144-5_34

  • Published:

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-59143-8

  • Online ISBN: 978-3-319-59144-5

  • eBook Packages: Computer ScienceComputer Science (R0)

Publish with us

Policies and ethics