Smart Contracts, AI, and the Future of Asset Valuation

There is a reason technological advances are commonly referred to as being disruptive: they fundamentally change the way humans interact and perform tasks. The authors’ proposal to combine smart contracts and AI in the asset valuation realm is no exception. If, as a matter of public policy, Congress were to mandate their use, taxpayers and decision-makers would have to shed their deep-seated hesitancies. Doing so would constitute an important incremental step towards meaningful reform.

For Further Reading

Aubry, M., Kräussl, R., Manso, G., & Spaenjers, C., “Machine learning, human experts, and the value of real assets,” No. 635. CFS Working Paper Series, 2019.

Baldominos, A., Blanco, I., Moreno, AJ, Iturrarte, R., Bernárdez, Ó., & Afonso, C., “Identifying real estate opportunities using machine learning,” Applied Sciences, vol. 8, no. 11, p. 2321, 2018.

Chaphalkar, NB, & Sandbhor, S., “Use of artificial intelligence in real property valuation,” International Journal of Engineering and Technology, vol. 5, no. 3, p. 2334-2337, 2013.

Chen, TH, Chen, MY, & Du, GT, “The determinants of bitcoin’s price: Utilization of GARCH and machine learning approaches,” Computational Economics, vol. 57, no. 1, p. 267-280, 2021.

Dai, J., & Vasarhelyi, MA, “Toward blockchain-based accounting and assurance,” Journal of Information Systems, vol. 31, no. 3, p. 5-21, 2017.

Giulio, P., “Chainalysis and Wave showcase blockchain fintech products at New York Barclays accelerator, sign deal with Barclays,” https://bit.ly/3yD2Wcd, 2015.

Guo, JQ, Chiang, SH, Liu, M., Yang, CC, & Guo, KY, “Can machine learning algorithms associated with text mining from internet data improve housing price prediction performance?,” International Journal of Strategic Property Management, vol. 24, no. 5, p. 300-312, 2020.

Guzun, Eugeniu, “What Is It Worth?,” HedgeNordic, Feb. 11, 2020, https://hedgenordic.com/2020/11/whats-it-worth/.

Kim, J., Lyrio, MV, Dai, J., & Vasarhelyi, MA, “Block-chain-Enabled Continuous Audit: Implementation of Blockchain-Enabled Smart-Contract with the Integration of Business Process Management,” manuscript in preparation, 2022 .

Liu, Y., & Zhang, L., “Cryptocurrency valuation: An explainable AI approach,” arXiv preprint arXiv:2201.12893, 2022.

Schatsky, D., “Getting smart about smart contracts,” https://bit.ly/O4HIcU, 2018.

Yamaura, Y., Kanemaki, N., & Tsuboshita, Y., “The Resale Price Prediction of Secondhand Jewelry Items Using a Multi-modal Deep Model with Iterative Co-Attention,” arXiv preprint arXiv:1907.00661, 2019.

Yu, Y., Lu, J., Shen, D., & Chen, B, “Research on real estate pricing methods based on data mining and machine learning,” Neural Computing and Applications, vol. 33, no. 9, p. 3925-3937, 2021.

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