Book

Blockchain Technology: Principles and Applications

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Abstract

Handbook of Research on Digital Transformations edited by F. Xavier Olleros, and Majlinda ZheguA paraitre
... The blockchain contains a decentralized immutable ledger and works on the unanimity mechanism where all the network participants are notified about the occurrence of an event at any point in time. Blockchain allows the participants to keep a track of transactions eliminating the traditional paradox of central record keeping [13,14]. Every transaction abides the "consensus mechanism" and is verified by all the miner nodes and upon achieving a unanimous consensus from all nodes, the transaction is logged in the blockchain. ...
... Every transaction abides the "consensus mechanism" and is verified by all the miner nodes and upon achieving a unanimous consensus from all nodes, the transaction is logged in the blockchain. Even if one of the miner nodes doesn't verify, the transaction is aborted making the blockchain highly secure and tamper-proof [13,14]. ...
Article
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The global food supply chain industry has embraced digitalization and has changed consumer’s day-to-day lives in many aspects. Efficient tracking of food products when within the supply chain ensures the safety of the end consumers. However, today’s food supply chain industry falls short of providing dependable tracing of food products due to a lack of visibility and transparency in tracking the food production, processing, distribution, transportation, and movement when with the supply chain, which poses a serious threat to the quality of processed food and the safety of consumers. In this paper, we propose a blockchain and IoT-based framework to regulate and monitor the processed poultry food supply chain industry’s functioning and improves the safety and quality of food products delivered to end-consumer. Our proposed solution utilizes Ethereum smart contracts to develop a transparent, reliable, and tamper-proof food supply chain framework, and ensure the integrity of supply chain transactions by eliminating a central authority. The smart contract regulates and monitors the transactions between the entities in the network and keeps all of the parties, within the network, well informed about transactions. This proposed aims to identify and eliminate food adulteration and contamination; enhance quality and safety in the food industry’s supply chain, improve the transparency of transactions, and legal culpability, which ultimately has a positive impact on consumer trust and the overall brand value.
... While the inception of Blockchain represented a leap forward in achieving consensus and immutability in a Peer-to-Peer (P2P) network, its technological and design limitations make it unsuitable for many Internet-of-Things (IoT) applications [4]. For example, from a structural perspective, the incentive mechanism in Blockchain encourages the validation of large transactions over small ones, and tends to centralise power in the hands of a few powerful mining pools [5]. Moreover, the time interval between the creation of new blocks leads to low throughput and scalability issues that seriously limits the Lianna Zhao, Andrew Cullen, Pietro Ferraro and Robert Shorten are with the Dyson School of Design Engineering at Imperial College London. ...
... When new transactions arrive, they validate up to eight (with two as a default) existing transactions which are chosen at random [33]. For further details on the consensus protocol of the Tangle, the 5 Sybil attack means attackers are trying to get multiple identities in order to gain advantage in a reputation system [24]. 6 https://blog.iota.org/the-tangle-an-illustrated-introduction-1618d3e140ad/ ...
Preprint
Access control is a fundamental component of the design of distributed ledgers, influencing many aspects of their design, such as fairness, efficiency, traditional notions of network security, and adversarial attacks such as Denial-of-Service (DoS) attacks. In this work, we consider the security of a recently proposed access control protocol for Directed Acyclic Graph-based distributed ledgers. We present a number of attack scenarios and potential vulnerabilities of the protocol and introduce a number of additional features which enhance its resilience. Specifically, a blacklisting algorithm, which is based on a reputation-weighted threshold, is introduced to handle both spamming and multi-rate malicious attackers. The introduction of a solidification request component is also introduced to ensure the fairness and consistency of network in the presence of attacks. Finally, a timestamp component is also introduced to maintain the consistency of the network in the presence of multi-rate attackers. Simulations to illustrate the efficacy and robustness of the revised protocol are also described.
... These personal health records may be encrypted and kept on the blockchain using a private key, guaranteeing that only specific people have access to them. [5] ...
... As recorded by Forbes, the food industry is rapidly adopting the use of blockchain to track the path and safety of food throughout the farm-to-user journey. [5] ...
Article
The purpose of this paper is to provide an overview in the recent developments of Blockchain in various fields. In this paper, the storage structure of Blockchain is considered and how it differs from a database is discussed. Decentralization, transparency, Blockchain security, the relation of Bitcoin and Banks with Blockchain are all to consider. Uses of Blockchain, the advantages and disadvantages of Blockchain etc. discussed further. While the developments are reaching its peak each day, it is an important point which gives us the prediction that the Blockchain is going to give a future of higher achievements.
... Since blockchain is basically a global archive of documents or a public ledger of all transactions or digital events that have been performed and exchanged by relevant groups, everyone can know the details of the activities within the chain [7]. It also has the benefit of ensuring improved perceptibility and transparency of transactions [8]. ...
Article
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Owing to the lack of research in emerging Asian nations, this research aimed to unearth the determinants of blockchain acceptance for supply chain financing by a Bangladeshi financing company called IPDC. Centred on a technology acceptance framework called UTAUT (unified theory of acceptance and use of technology) and open innovation research, an expanded model with a mediating variable is developed for this study. This research work employs the deductive inference method in conjunction with the positivism paradigm. A structural questionnaire was used to gather data, which were then processed through Smart-PLS (partial least square) for SEM (structural equation modeling). The survey includes all the people who are directly or indirectly involved in the supply chain financing platform of IPDC. The study consists of seven direct hypotheses and one mediating hypothesis. The results show that all the direct hypotheses except the impact of social influence on the behavioural intention to use (BINTU) blockchain are significant. The mediating hypothesis indicating the role of BINTU in the relationship between facilitating conditions (FCON) and the actual use of blockchain is also supported. FCON and BINTU together explain 88.7% variation in blockchain use behaviour for supply chain financing. The research advances past findings by employing an expanded UTAUT framework and validating observations with the other relevant studies throughout the world.
... Blockchain-enabled systems are an advantageous combination of public key infrastructure, cryptographic algorithms, decentralized consensus mechanism, and economic modeling to achieve distributed database synchronization. 75,76 Blockchain is distributed architecture which is also referred to as a distributed ledger. All the participating peers hold the identical copies of the ledger in peer to peer blockchain-based networks. ...
Article
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The blockchain has emerged as an innovative and powerful technology that shows the tremendous potential to enhance the smart industrial frameworks by providing encryption, immutable storage, and decentralization. In the past few years, several applications in the industrial Internet of Things (IIoT) have emerged and blockchain technologies gained great attention from academia and industry. To discover the great potential of blockchain technology for the IIoT, we present a comprehensive survey on security issues, blockchain architec-tures, and applications from the industrial perspective. This article starts with a comparison of exiting state-of-the-art surveys of blockchain technologies for IoT/IIoT applications. A four-layer reference architecture of IIoT is presented along with the functionalities and security issues of each layer. To address these challenges, we assess the potential of blockchain technology by considering the key characteristics, architectures, consensus algorithms, and implementation platforms. Furthermore, we also discussed some use cases of blockchain for the IIoT frameworks. Finally, this survey is concluded by highlighting some open issues and future research directions.
... For determining the PoW, validators, also known as miners, need to solve a mathematical puzzle. PoW technique proves to be a good temper proof service; however, the transaction rate Table 6 Comparison of consensus based on algorithms (Salimitari and Chatterjee, 2018;Zheng et al., 2017;Chalaemwongwan and Kurutach, 2018;Bach et al., 2018;Zamani et al., 2018;Kokoris-Kogias et al., 2018;Mingxiao et al., 2017;Xu et al., 2017;Bano et al., 2017;Afzal et al., 2020 reflects that in some cases, it is not a suitable candidate (Pilkington, 2016). For example, Bitcoin is able to handle 7 transactions in one second (Vukolić, 2015). ...
Article
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Transactive energy is an effective way to share and trade energy among peers. A transactive energy framework is composed of several integrated blocks such as an energy market, service providers, generation companies, transmission and distribution networks, prosumers, etc. The success of such a framework can be measured by analyzing the effectiveness of its major building blocks. This paper provides a basic definition of transactive energy which helps in identifying its primary building blocks. Based on the identified building blocks, each block of the transactive energy system is discussed briefly to highlight its significant role and effectiveness. Some enabling technologies for such systems are then reviewed along with pilot projects. In the end, some policy guidelines are presented to speed up their implementation.
... This transaction needs to be confirmed by the nodes, this confirmation is time consumable [131]. This time between two transactions' initiation and confirmation can be a window for the attacker to quickly launch his/her attack [133,134]. ...
Article
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Blockchain being a leading technology in the 21st century is revolutionizing each sector of life. Services are being provided and upgraded using its salient features and fruitful characteristics. Businesses are being enhanced by using this technology. Countries are shifting towards digital currencies i.e., an initial application of blockchain application. It omits the need of central authority by its distributed ledger functionality. This distributed ledger is achieved by using a consensus mechanism in blockchain. A consensus algorithm plays a core role in the implementation of blockchain. Any application implementing blockchain uses consensus algorithms to achieve its desired task. In this paper, we focus on provisioning of a comparative analysis of blockchain’s consensus algorithms with respect to the type of application. Furthermore, we discuss the development platforms as well as technologies of blockchain. The aim of the paper is to provide knowledge from basic to extensive from blockchain architecture to consensus methods, from applications to development platform, from challenges and issues to blockchain research gaps in various areas.
... [5] is a chain-structured distributed database organized in time order running in a peer to peer network. It is a complex of multiple technologies, such as cryptography [6], Merkle tree [7], consensus mechanism [8] and smart contract [9]. With these technologies, it realizes a tamper-resistant, unforgeable, decentralized and detrusted database. ...
... As a next step, miners try to solve a cryptographic puzzle generated using their to-be-mined block. The miner who manages to solve the cryptographic puzzle earlier than the others is considered as the winner and the block that has been used to generate the solution will be added to the blockchain [48]. For solving cryptographic puzzles, miners usually need to consume a considerable amount of energy. ...
Conference Paper
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This paper explores the applications of Distributed Ledger Technologies (DLTs) in Peer-to-Peer (P2P) electricity trading. It highlights the challenges and trade-offs of applying three different DLTs: Blockchain, Directed Acyclic Graph (DAG), and Holochain. First, the study introduces the energy transition concept in the smart city context. Second, P2P electricity trading and its supporting trading mechanisms are introduced. Third, DLTs are defined and three different types of DLTs are introduced. Forth, possibilities, challenges, and consequences of applying DLTs in electricity trading are explained. Last, applying DLTs for P2P electricity trading from different aspects are discussed. This paper provides a benchmark for applying DLTs to foster energy transition in smart cities. It highlights how this type of technology can serve smart circular economy.
... The project's objective is to protect the people's vote using blockchain technology [15]. It allows the voter to cast their vote anywhere, i.e., the voting system in online through government websites [5]. ...
... One specific application area of smart contracts is the exchange a broad variety of digital assets. These so-called blockchain tokens are value containers that can be transferred among the participants in a blockchain system [36,37]. The opportunities related to the "tokenization" of physical and digital objects are considered an essential trend for the economy [38]. ...
Preprint
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The ongoing digital transformation of the medical sector requires solutions that are convenient and efficient for all stakeholders while protecting patients' sensitive data. One example involving both patients and health professionals that has already attracted design-oriented research are medical prescriptions. However, current implementations of electronic prescriptions typically create centralized data silos, leaving user data vulnerable to cybersecurity incidents and impeding interoperability. Research has also proposed decentralized solutions based on blockchain technology as an alternative, but privacy-related challenges have either been ignored or shifted to complex or yet non-standardized solutions so far. This paper presents a design and implementation of a system for the exchange of electronic prescriptions based on the combination of two blockchains and a digital wallet app. Our solution combines the bilateral, verifiable, and privacy-focused exchange of information between doctors, patients, and pharmacies based on a verifiable credential with a token-based, anonymized double-spending check. Our qualitative and quantitative evaluations suggest that this architecture can improve existing approaches to electronic prescription management by offering patients control over their data by design, a sufficient level of performance and scalability, and interoperability with emerging digital identity management solutions for users, businesses, and institutions.
... The blockchain is, therefore, a decentralised system. Figure 2 below graphically displays three different system structures [64]. Centralised and decentralised networks refer to the level of control of the system. ...
Article
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Accounting information systems (AISs), the core module of any enterprise resource planning (ERP) system, are usually designed as centralised systems. Nowadays, the continuous development and applications of blockchain, or more broadly—distributed ledger technology (DLT), can change the architecture, overcome and improve some limitations of centralised systems, most notably security and privacy. An increasing number of authors are suggesting the application of blockchain technologies in management, accounting and ERPs. This paper aims to examine the emerging literature on this field, and an immediate result is that blockchain applications can have significant benefits. The paper’s innovative contribution and considerable objective are to examine if blockchain can be successfully integrated with AIS and ERPs. We find that blockchain can facilitate integration at multiple levels and better serve various purposes as auditing compliance. To demonstrate that, we analyse e-procurement systems and operations using case study research methodology. The findings suggest that DLT, decentralised finance (DeFI), and financial technology (FinTech) applications can facilitate integrating AISs and ERP systems and yield significant benefits for efficiency, productivity and security.
... A key parameter that renders the design of a blockchain system is its underlying application. On the basis of permissions available to a participating node, a blockchain application can be categorized blockchain as permissioned, permissionless or hybrid (Pilkington 2015;Cachin and Vukolic 2017). Although the blockchain community agrees on the characteristics of a permissionless or public blockchain infrastructure, there is a lack of concise definitions to explain other models. ...
Preprint
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A blockchain is a linked list of immutable tamper-proof blocks, which is stored at each participating node. Each block records a set of transactions and the associated metadata. Blockchain transactions act on the identical ledger data stored at each node. Blockchain was first perceived by Satoshi Nakamoto, as a peer-to-peer money exchange system. Nakamoto referred to the transactional tokens exchanged among clients in his system as Bitcoins.
... This means that all succeeding blocks have to be tampered with as well, in order to maintain consistency. However, recording new data to the blockchain, i.e., adding a block to the blockchain, requires heavy computation and a certain amount of time, which is the second feature [47]. The process of adding a new block to the blockchain is called mining, which is driven by a mathematical puzzle called Proof-of-Work (PoW). ...
Article
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Unauthorized resource access represents a typical security threat in the Internet of things (IoT), while distributed ledger technologies (e.g., blockchain and IOTA) hold great promise to address this threat. Although blockchain-based IoT access control schemes have been the most popular ones, they suffer from several significant limitations, such as high monetary cost and low throughput of processing access requests. To overcome these limitations, this paper proposes a novel IoT access control scheme by combining the fee-less IOTA technology and the Ciphertext-Policy Attribute-Based Encryption (CP-ABE) technology. To control the access to a resource, a token, which records access permissions to this resource, is encrypted by the CP-ABE technology and uploaded to the IOTA Tangle (i.e., the underlying database of IOTA). Any user can fetch the encrypted token from the Tangle, while only those who can decrypt this token are authorized to access the resource. In this way, the proposed scheme enables not only distributed, fee-less and scalable access control thanks to the IOTA but also fine-grained attribute-based access control thanks to the CP-ABE. We show the feasibility of our scheme by implementing a proof-of-concept prototype system using smart phones (Google Pixel 3XL) and a commercial IoT gateway (NEC EGW001). We also evaluate the performance of the proposed scheme in terms of access request processing throughput. The experimental results show that our scheme enables object owners to authorize access rights to a large number of subjects in a much (about 5 times) shorter time than the existing access control scheme called Decentralized Capability-based Access Control framework using IOTA (DCACI), significantly improving the access request processing throughput.
... Blockchain is a database containing public, sequential, and time-stamped transactions that eliminate the problem of double-spending through the cryptography it uses (Pilkington, 2016;Çarkacıoğlu, 2016). Although the usage areas of blockchain technology are not specified yet, the most widely used area is the cryptocurrency market. ...
Article
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Blockchain technology is becoming more and more important and new usage areas are emerging every day. However, the most fundamental one of these usage areas is cryptocurrencies, which led to the emergence of blockchain technology. Cryptocurrency transfers are made possible with mining. Although there are many cryptocurrencies available today, a lot of them use Ethereum-based blockchain technology. The choice of the most optimal graphics card (GPU; Graphics Processing Unit) in cryptocurrency mining is very important for the efficiency and profitability of the mining operations to be performed. Since this decision problem depends on more than one criterion, it should be handled using Multiple-Criteria Decision-Making Methods (MCDM). Accordingly, the study focused on the mining of Ethereum-based cryptocurrencies and the selection of the optimal GPU to be used in mining with linear BWM-TOPSIS. As a result of the study, a model is presented in which miners can choose the most efficient GPU for them and the optimal GPU as of January 2020 has been determined.
... From the IT perspective, the hash, or fingerprint, results from an algorithm called hash function (Pilkington et al., 2016). Hash functions have two main features (Martino and Cilardo, 2020): 1) they are characterised by a string of arbitrary length (input) and a string of defined length (output); 2) they are irreversible functions. ...
Article
Trust, traceability, and transparency emerge as critical factors in designing circular blockchain platforms in supply chains. To bridge the three circular supply chain reverse processes (i.e., recycle, redistribute, remanufacture) and the three factors affecting blockchain technologies (i.e., trust, traceability, transparency), this paper proposes the integrated Triple Retry framework for designing circular blockchain platforms. A circular blockchain platform was designed in a supply chain, including manufacturer, reverse logistics service provider, selection center, recycling center, and landfill. The results highlight blockchain's role as a technological capability for improving control in the movement of wastes and product return management activities.
... So POW does not completely stop hackers but usually it confuses the hacker and it needs to solve 50% any transaction of work. But they need more powerful computing machines [8]. ...
Chapter
This Chapter studied both Blockchain and Big data which brings innovative opportunities around the world by changing businesses operations. There is no doubt that this technology has revolutionized finance and many other fields. It places Bitcoin transaction in blocks, and then connects them in chronological order, because each block has the hash value of the previous block. These all blocks use time‐stamps and cryptographic techniques to record data in blocks. In order to add a block to the chain, a transaction must be made, verified and stored in the block. After adding a new block to the blockchain, it will automatically update like news feed of Facebook and the block will be publically available to anyone. The purpose of this chapter is to understand the current research challenges, and future directions of blockchain from technical perspective. In this chapter, we will have analyzed the current quality concerns in blockchain implementation (scalability, usability, data privacy, data security, lack of interoperability, lack of understanding and implementation costs), determined the attributes (anonymity, reliability, transparency, autonomy, immutability, data integrity and security), and also defines the concepts of blockchain, smart contracts in industries and type of blockchain (public, private, hybrid and consortium blockchain).
... This is because blockchain exhibits some unique properties such as immutability and irreversibility of ledger state, distributed consensus, data provenance, data persistence, accountability, and transparency [13]. Consequently, there have been a lot of efforts, both from the academia and the industry to explore how blockchain can be leveraged in many application domains such as [14]. In this paper, we present a novel blockchain-based metadata management framework for SAML identity federations that effectively tackles the limitations in the current implementation of SAML identity federations as identified above. ...
Conference Paper
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Federated Identity Management (FIM) is a model of identity management in which different trusted organizations can provide secure online services to their uses. Security Assertion Markup Language (SAML) is one of the widely-used technologies for FIM. However, a SAML-based FIM has two significant issues: the metadata (a crucial component in SAML) has security issues, and federation management is hard to scale. The concept of dynamic identity federation has been introduced, enabling previously unknown entities to join in a new federation facilitating inter-organization service provisioning to address federation management’s scalability issue. However, the existing dynamic federation approaches have security issues concerning confidentiality, integrity, authenticity, and transparency. In this paper, we present the idea of facilitating dynamic identity federations utilizing blockchain technology to improve the existing approaches’ security issues. We demonstrate its architecture based on a rigorous threat model and requirement analysis. We also discuss its implementation details, current protocol flows and analyze its performance to underline its applicability.
... Once the data is stored, it can never be modified/deleted, and so easily tracked. One of the most famous examples in practice that uses blockchain is the cryptocurrency, Bitcoin [10]. Blockchain has a wide range of applications in several areas, including peer-to-peer insurance, online voting, smart contracts, and its adoption in the health care system is also being discussed. ...
Preprint
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Recently, an infectious disease, coronavirus disease 2019 (COVID-19), has been reported in Wuhan, China, and subsequently spread worldwide within a couple of months. On May 16, 2020, the COVID-19 pandemic has affected several countries in the world. In this article, we present how the amalgamation of blockchain, cryptography, internet of medical things (IoMT), and artificial intelligence (AI) technologies can address such an issue in the event of the COVID-19 pandemic. Further, we propose a secure AI-based blockchain-assisted IoMT (SAI-BA-IoMT) model for the healthcare system in the COVID-19 crisis. The paper also examines the post-corona crisis that the world could be experienced after the pandemic. Additionally, we exhibit the potential applications of the proposed model to resolve the difficulties originated from coronavirus.
... Nascent technology such as blockchain may facilitate promotion of HIV/STI testing. Blockchain is an immutable public ledger [76]; a publicly accessible electronic data storage that cannot be altered even by its owner. It is the underlying technology that runs cryptocurrency and has since been utilized in industries such as healthcare, ecommerce, and finance [77]. ...
Article
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Since the beginning of the HIV epidemic, there have been more than 75 million cases. Currently, there about 1.2 million living with HIV in the USA. Despite current testing recommendations, test rates continue to be suboptimal. Investigators have studied the use of digital technology to promote HIV testing, especially among high-risk populations. Purpose of Review This non-systematic review provides an overview of the scientific research between 2015 and 2020 focused on the use of digital technology to bolster HIV testing and suggests novel technologies for exploration. Recent Findings A total of 40 studies were included in the review that span a wide range of available technology. Studies effectively increased HIV testing among study participants. Generally, participants in the intervention/exposure groups had significantly higher rates of HIV test uptake compared to participants in the comparison groups at study follow-up. Summary For a variety of reasons (e.g., differences in ways the technologies were used and study design), no digital tool clearly performed better than others, but each have the capacity to increase outreach and self-testing. An exploration of the potential use of nascent technologies is also discussed, as well as the authors’ experiences using a number of these technologies in our research.
... Blockchain is a kind of ledger technology that is jointly maintained by multiple parties, can achieve consistent data storage, is difficult to tamper with, and prevents denial [39,40]. It has also become a distributed ledger technology. ...
Article
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With the development of the Internet of Things and the demand for telemedicine, the smart healthcare system has attracted much attention in recent years. As a platform for medical data interaction, the smart healthcare system is demanded to ensure the privacy of both the receiver and the sender, as well as the security of data transmission. In this paper, we propose a privacy-preserving data transmission scheme where both secure ciphertext conversion and malicious users identification are supported. In particular, the OTmn protocol is introduced to guarantee the two-way privacy of communication parties. Meanwhile, we adopt proxy reencryption algorithm to support secure ciphertext conversion so as to ensure the confidentiality of data in many-to-many communication pattern. In addition, by taking advantage of the concept of blockchain technology, a novel OTmn protocol is proposed to prevent data from being tampered with and effectively identify malicious users. Theoretical and experimental analyses indicate that the proposed scheme is practical for smart healthcare with high security and efficiency.
... There are various academic studies in the literature on the applications of blockchain technology. Pilkington [25], by transferring the most advanced applications of Blockchain technology and the basic principles of new application areas, showed the potential of Blockchain to change the nature of the interface between economic intermediaries as the biggest reason for the disruption of technology and drew attention to the social interest. Davidson et al. [26] argued that Blockchain is more than information and communication technology innovation, and they have put forward the idea that it facilitates a new type of economic organisation and control. ...
Article
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Trust is the most important key element in the history of humanity and its success. We see and witness an emerging and exciting technology called Blockchain, eliminating losses caused by anti-trust and relieves pain in our social-build environment. Although the atmosphere in business, management, and society today has been heavily altered and involved, trust stays the same. This requirement leads companies in various industries to use new techniques to ensure their customer's business is in safe hands. Unfortunately, most of the current research is heavily based on the Bitcoin currency rather than its underlying technology, which focuses on revealing and improving Blockchain's limitations from managerial value perspectives. Many of the proposed solutions lack a concrete evaluation of their effectiveness. Many other Blockchain scalability related challenges, including throughput and latency, have been left unstudied. In this study, enabling functions is studied, and Blockchain's contribution to organisations' management is discussed. Besides, applicability in today's economic environment in various industries is studied. It is understood that after the development of technologies that eliminate centralised structures such as Blockchain, the business world is keen to adapt to this change. In this context, it is concluded that including new technologies such as Blockchain increased trust in various industries, and in the majority of the studies, Blockhain considered being an element to reduce costs and create a more transparent environment. It can be said that this technology contributes to the development and better understanding of the application area of the industries mentioned in the study.
... For this purpose, a consortium blockchain (permissioned) framework with a private identity-based access control for the storage of special data information is implemented in the study. Furthermore, an IPFS off-chain storage model is implemented to manage the original patient data, since in the blockchain, according to Kumar et al. (2020), only a cryptographic hash value (Pilkington, 2016) of the patient information is stored due to the scalability. Zhou et al. (2018) have developed a blockchain-based storage system for medical health insurance data that is tamper-proof and offers users a high level of credibility for their data. ...
Article
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Blockchain solutions offer efficient approaches for trustworthy data management, especially in the medical field when storing and processing sensitive patient data. Many institutional and industrial facilities have already recognized the importance of the technology for the health sector and have also formulated basic ideas, concepts and main use cases, but concrete implementations and executions are comparatively rare. This mini review examines current research on specific blockchain implementations in healthcare that go beyond the state of concept studies or theoretical implementation ideas and describes the most promising systems based on systematic literature research. The review shows that secure storage and easy access to complete patient data is becoming increasingly important. Blockchain technology can be used as a secure, transparent and digital way to meet these needs. Hybrid solutions consisting of conventional data storage and blockchain-based access management are increasingly being developed and implemented. The automation of blockchain processes through smart contracts is also recommended. The review further reveals ambiguities in the use of permissioned and permissionless blockchain frameworks, machine learning (ML) integration as well as the question of which data should be stored in the blockchain and how this should be viewed legally. Therefore, there is still a need for further research, especially on these aspects, in order to further establish the use of blockchains in healthcare.
... Whenever an event is emitted, the corresponding logs are written in the blockchain. Using an event to write logs in the blockchain is a cheaper form of storage [22], [21]. This is how a blockchain based framework is setup to ensure the correct traceability of the data and to provide physical and logical protection. ...
Chapter
Industry 4.0 (the Fourth Industrial Revolution) is a concept devised for improving the operation of modern factories through the use of the latest technologies, under paradigms such as the Industrial Internet of Things (IIoT) or Big Data. One of such technologies is Blockchain, which is able to provide industrial processes with security, trust, traceability, reliability and automation. This paper proposes a technological framework that combines an information sharing platform and a Blockchain platform. One of the main features of the this framework is the use of smart contracts for validating and auditing the content received throughout the production process to ensure the correct traceability of the data. The conclusion drawn from this study is that this technology is under-researched and has significant potential to support and enhance the industrial revolution. Moreover, this study identifies areas for future research.
... Block chain has some important and valuable features that can prevent illegal activities in payment processing and can stop payment frauds [10][11][12][13][14]. It is impossible to disable the system as it functions on various devices worldwide at same time and all the systems storing the records of transactions cannot be hacked at once. ...
Article
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This paper focuses on the one of the major cyber fraud pertaining to online payment and its impact on society. Online payment methods are quick and easy. One can get access of online services on our finger tips and can have the record of all payments that are executed. But with the growing popularity of online shopping, the fraudulent activities are increasing simultaneously. E-Commerce fraud is an illegal or false transaction based made though online mode. Fraudulent activities in online payment systems are quite common and are one of the serious problems in most of the e-commerce transactions. In this paper a approach based on the usage of block chain in the online transactions has been given for securing them and also mitigating the effect of various cyber attacks.
Article
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In recent times, organizations are increasingly adopting blockchain technology in their supply chains due to various advantages such as cost optimization, effective and verified record-keeping, transparency, and route tracking. This paper aims to examine the factors influencing the intention of small and medium enterprises (SMEs) in India to adopt blockchain technology in their supply chains. A questionnaire-based survey was used to collect data from 216 SMEs in the northern states of India. The study has considered an integrated technology adoption framework consisting of the Technology Acceptance Model (TAM), Diffusion of Innovation (DOI), and Technology-Organization-Environment (TOE). Using this integrated TAM-TOE-DOI framework, the study has proposed eleven hypotheses related to factors of blockchain technology adoption. Confirmatory factor analysis (CFA) and structural equation modeling (SEM) have been used to test the hypotheses. The results show that relative advantage, technology compatibility, technology readiness, top management support, perceived usefulness, and vendor support have a positive influence on the intention of Indian SMEs to adopt blockchain technology in their supply chains. The complexity of technology and cost concerns act as inhibitors to the technology adoption by SMEs. Furthermore, the three factors, namely, security concerns, perceived ease of use, and regulatory support, do not influence the intention to adopt the technology. The study contributes to filling a significant gap in the academic literature since only a few studies have endeavored to ascertain the technology adoption factors by supply chains of SMEs in a developing country like India. The study has also proposed a novel integrated technology adoption framework that can be employed by future studies. The findings are expected to enable SMEs to understand important factors to be considered for adopting blockchain technology in their supply chains. Furthermore, the study may benefit the blockchain technology developers and suppliers as they can offer customized solutions based on the findings. 1. Introduction In today’s digital society, many next-generation communication technologies, such as blockchain, the Internet of Things, and cloud computing, have been introduced to offer unlimited competencies for various applications and contexts [1]. To seek a competitive advantage and improve operational performance, the business world has been adopting these technologies in various functional fields. In recent times, blockchain has emerged as a widely accepted transformative technology due to the various benefits like ease of collaboration for companies, ease of working and governance, process streamlining, cost optimization, effective and verified record-keeping, transparency, efficiency, etc. [2]. It is estimated that the adoption of the technology will originate a value of USD 3 trillion per year by the year 2030. The estimates also indicate that 10% of the world economy will be using this technology by the year 2025 [3]. The supply chains have seen an enhanced complexity in recent times due to the increased scale of the businesses, diversified product portfolio, enhanced customer preferences, uncertain demand conditions, need to collaborate with multiple suppliers, a large number of geographic locations to be served, and variety of intermediaries [4]. Hence, globally, organizations are shifting from traditional to technology-driven supply chain management systems for enhanced and effective collaboration across suppliers and buyers [5]. For increased efficiency, blockchain technology has been embraced by many supply chain management systems in recent times [6]. This technology works in a distributed network with each transaction being validated and recorded by consensus of the nodes in the chain [7]. The technology enables verifiable and immutable records along with data transparency and route tracking. However, the blockchain technology adoption in supply chains is inherent with many challenges like hardware and software requirements, training needs, cost and security concerns, etc. [4,8]. Thus, organizations are skeptical of adopting the technology in their supply chains [9]. Therefore, it is required to ascertain the influencers that impact the intention of organizations to embrace blockchain technology. Blockchain technology has a special significance for supply chains of small and medium enterprises (SMEs) in a less developed country like India. SMEs act as the most vibrant and dynamic engine of growth in India due to their contribution to eradicating unemployment, poverty, income inequality, and regional imbalances [10]. Blockchain technology adoption by supply chains of SMEs is expected to optimize their operations and lead to enhanced performance and efficiency [8]. Thus, the benefits derived from blockchain technology by supply chains can enable SMEs to become more productive and competitive in dynamic market conditions. However, blockchain technology adoption by supply chains of SMEs in India faces major challenges due to the limited availability of various resources like skilled workforce, capital, technology penetration, etc. [11]. A review of the available literature indicates that not a very large number of SMEs have embraced blockchain technology in their supply chains in developing countries [11]. Furthermore, a limited number of studies ascertained the technology adoption by supply chains of SMEs in a developing country like India [8, 11]. The existing studies have used various theoretical models and constructs to ascertain the determinants of blockchain technology adoption by supply chains of the organizations [8, 9, 12, 13]. One of the major limitations as pointed out by most of these studies has been the use of only a few antecedents to assess the determinants of the technology. Thus, there is a need to use a comprehensive model to include the various available constructs proposed by the existing theoretical models and relevant to blockchain technology adoption by supply chains of SMEs. For this purpose, the present study integrates three widely used theoretical models and theories, namely, the Technology Adoption Model (TAM), Technology-Organization-Environment (TOE) Model, and Diffusion of Innovation (DOI) Model. The study findings are expected to enable SMEs to understand important factors that they should pay attention to while embracing blockchain technology. Furthermore, the study can benefit the blockchain technology developers and suppliers as they can offer customized solutions based on the findings. In the Indian context, all manufacturing and service enterprises having investment in plant and machinery or equipment in the range of INR 10 million to 100 million and an annual turnover in the range of INR 50 million to 500 million are categorized as small enterprises. Furthermore, the medium enterprises have investments in the range of INR 100 million to 500 million and an annual turnover in the range of INR 500 million to 2.5 billion [14]. To meet the stated objectives, the present study has used the specified criteria of annual turnover to identify an organization as an SME. The paper contributes to the existing literature by offering an insight into the factors influencing the intention of Indian SMEs to adopt blockchain technology in their supply chains. Hence, an opportunity is offered to the various stakeholders including SMEs, technology developers, vendors, and regulatory authorities to reflect on the determinants of intention to adopt blockchain technology. The study further contributes by putting forth a novel integrated technology adoption framework consisting of the Technology Acceptance Model (TAM), Diffusion of Innovation (DOI), and Technology-Organization-Environment (TOE). This proposed framework may be employed to explore the determinants of blockchain technology adoption in various micro, small, and large organizations across the manufacturing and service sectors in India and abroad. The remainder of the paper is structured as follows. The theoretical background to the study is presented. The third section describes the research framework. The fourth section explains hypotheses development followed by the next section on materials and methods. The sixth section on results and discussion describes data analysis and findings. Thereafter, the conclusions, the implications of the study, and future research directions are presented. 2. Theoretical Foundations 2.1. The Concept of Blockchain Technology The concept of blockchain technology was first introduced in 1991 by Stuart Haber and W. Scott Stornetta [15]. Blockchain is a peer-to-peer transaction network that uses the distributed ledger technology (DLT) to hold any information and is capable of setting rules on how this information is updated [16]. In the blockchain, different entities involved in the transaction work as nodes (computers). Each participating node, having a copy of the distributed ledger, is further interconnected with other nodes in the distributed peer-to-peer networks. DLT maintains the ledger of each node of the chain where business transactions, also known as blocks, get stored in distributed ledgers in the chain overall participating nodes in an immutable manner. The new block is appended and chained (linked) to the previous block in the chain using a hash number, and thus, information on the ledger grows [17]. The hash number is generated by using different hashing algorithms and running the contents of the block in question through a cryptographic hash function. In the chain, all blocks stay connected while ensuring that hashes connecting two blocks remain in an immutable form. Each block is also having a timestamp with the date and time of its occurrence. The cryptographic hashes ensure that to alter an entry in a past block, all subsequent blocks also need to be altered. The ledger is validated and maintained by a network of nodes according to a predefined consensus mechanism with multiple nodes holding a full copy of the entire database. No single centralized authority is needed. Any change and validation of a transaction are the results of a consensus between the network members, and each member can trace the origin of the transaction [18–20]. 2.2. Blockchain Technology in Supply Chains The multiple partners in a typical supply chain generally include manufacturing plants, suppliers, distribution centers and intermediaries, transporters, and other logistic services that participate in information, material, and cash flow. The global supply chains have further expanded into import, export, forwarding, and delivery in international trading leading to increased complexity [21]. The application of blockchain technology to supply chains is expected to enhance overall performance and reliability by enabling various value-enhancing tasks like recording, tracking, and sharing information with speed and accuracy. This is possible through a real-time digital ledger of transactions and movements for all stakeholders in their supply chain network [4]. In a supply chain, the blockchain will assist in tracking the product journey from a raw material supplier to a consumer [22]. This will contribute to eliminating the counterfeited goods via traceability of the origin of the goods [23]. In a typical supply chain, data errors are common and generally created at the inputting stage. Since fewer people perform data entry tasks in a blockchain, the errors in data entry can be reduced. Furthermore, using blockchain, the redundant jobs can be eliminated as all parties can access the same information across the supply chain [24]. Blockchain technology in supply chains also enables accurate demand forecasting, efficient management of supply chain disruptions, and reduced inventory carrying cost due to its ability to create and share records of activities across the supply chain [25]. Due to its immutability and timestamp feature, blockchain technology when applied to supply chains does not allow any kind of backdated changes or data diddling which makes it more trustworthy and transparent to use [26]. Generally, electronic data are collected, collated, and stored on the central servers of the service provider in a typical traditional supply chain. These servers are susceptible to attacks. However, owing to its highly protective mechanisms of distributed consensus and cryptography, blockchain technology improves the security of data and offers an environment safe from cyberattacks [27]. 2.3. Technology Adoption Models Technology adoption can be explained as the intention of a user(s) or an organization to select a technology for utilizing it for their benefit [28]. Thus, technology adoption will lead to the diffusion of technology and, hence, its acceptance and use by the masses. The available literature shows [29] that various theoretical technology adoption models and theories like Theory of Reasoned Action (TRA), Technology, Organization, and Environment (TOE) Framework, Innovation Diffusion Theory (IDT)/Diffusion of Innovation (DOI) Theory, Technology Acceptance Model (TAM), etc. have been used by the researchers to understand the factors affecting the technology adoption. Many studies have explored the adoption of blockchain technology in the operation and supply chain. For the purpose, the different models used by the available studies include TAM [30], UTAUT [31, 32], IDT [33], TOE [8, 34], and TRA [35]. Furthermore, a combination of TAM, technology readiness index (TRI), and the theory of planned behavior (TPB) model has also been used [4]. Another study used a combination of TAM, DOI, and UTAUT [36]. These studies have unearthed various factors that influence blockchain technology adoption in supply chains. These factors include relative advantage, compatibility, complexity, upper management support, cost, market dynamics, competitive pressure, regulatory support, security, perceived benefits, perceived usefulness, perceived usefulness, organizational readiness, organizational size, and data governance [34, 37]. In the Indian context, some studies [4, 11, 32, 38–40] have attempted to examine blockchain technology adoption in supply chains. A recent study [4] has further explored blockchain technology adoption by supply chains of SMEs in India. Thus, it seems that a limited number of studies have assessed the determinants of blockchain technology adoption in supply chains of SMEs in the Indian context. Hence, there is a need to explore this area further. The present study is an attempt in that direction. 3. Research Framework To examine the determinants of blockchain adoption in supply chains of SMEs, the present study considers TAM, TOE framework, and DOI theory to propose an integrated TAM-TOE-DOI framework. TAM [41] examines the behavior of the end-user when it comes to accepting technology innovation. TAM considers two variables, namely, perceived ease of use and perceived usefulness, to assess attitude toward using and behavioral intention to use the new technology. Furthermore, TAM2 [42] and TAM3 [43] which are extended versions of the TAM framework have also been suggested. The TAM model has been empirically used by previous studies to predict antecedents of technology adoption [36, 44, 45]. TOE framework [44] determines the acceptance of innovation at the enterprise level by considering the technology, organizational, and environmental contexts of an enterprise. The technology context considers the internal and external benefits of the new technology to the organization. The organizational context includes firm characteristics like organizational structure, departmentalization, roles of human resources, degree of control, etc. Furthermore, the environmental context refers to the regulatory environment, market factors, and competitors. The extant literature shows the use of the TOE framework for examining factors of blockchain technology adoption [8, 9, 13, 45]. Diffusion of Innovation (DOI) [46] theory examines user response and acceptance for a new concept to explore the adoption rate of new technology. These attributes include relative advantage, technology compatibility, the complexity of technology, observability of innovation, and trialability of technology. This theory presents a widely used adoption model employed by studies in the past [36, 47, 48]. The present study posits that various constructs of TAM, TOE, and DOI have an important role in influencing the blockchain technology adoption of supply chain users. Hence, to meet the objectives of the study, an integrated TAM-TOE-DOI framework has been proposed. TAM examines the end-user behavior toward technology adoption by considering factors at the individual level, whereas TOE explores technology adoption by considering factors at the enterprise level. Furthermore, DOI considers attributes of innovation that can attempt technology adoption. Considering the objectives of the present study, 11 factors of technology adoption under five aspects of innovation characteristics, technology context, organizational context, environmental context, and individual characteristics adapted from the integrated TAM-TOE-DOI framework are found relevant. In the case of innovation characteristics, three attributes of DOI theory, namely, relative advantage, technology compatibility, and complexity of technology, are considered relevant for blockchain adoption in supply chains by SMEs. The technology context that belongs to the TOE framework ascertains the technology readiness of SMEs to adopt the technology. The organizational context of TOE ascertains the role of top management support, security concerns, and cost concerns of SMEs in influencing their intention to adopt blockchain technology in supply chains. Furthermore, the environmental context of the TOE framework examines the contribution of regulatory support and vendor support in impacting the intention of SMEs. Lastly, the individual characteristics consider perceived ease of use and perceived usefulness of blockchain technology to explore the technology adoption intention of SMEs in India. Both these individual characteristics belong to the TAM model. 4. Hypothesis Development The review of the pertinent literature and the integrated TAM-TOE-DOI model indicated the relevance of a total of five characteristics/contexts with eleven factors to influence blockchain technology adoption in supply chains by SMEs. In the following paragraphs, hypotheses related to the considered factors have been presented. 4.1. Hypothesis Development-Innovation Characteristics As per the preceding paragraphs, three attributes considered relevant as innovation characteristics for the adoption of blockchain technology in supply chains are relative advantage, technology compatibility, and complexity of technology. Rogers [49] has explained the relative advantage of technology as the degree to which the benefits it offers are perceived as better than that offered by the existing technology. The adoption of blockchain technology in supply chains is expected to offer distinct features like the transparency of data [31, 50], supply chain traceability [8, 50], reliability [45], and immutable and verifiable records with timestamp [6, 32], The existing studies have found relative advantage as an essential factor in the adoption of blockchain technology by organizations [8, 37, 51]. The compatibility of innovation has been explained in respect of its consistency with potential adopter’s present needs, existing values, and past experiences [49]. Furthermore, compatibility of technology also involves consideration of organizational culture [52] and the available technology infrastructure [53]. It is easier for an organization to apply blockchain technology to its supply chains if it has a high compatibility level [9]. The existing studies have confirmed that the compatibility of blockchain technology positively influences the intention to adopt it in supply chains by the organizations [13, 51, 54]. The complexity of technology is associated with the relative difficulty to understand and use it [49]. Wong et al. [8] have reported that blockchain technology is challenging to understand by the users. The errors due to algorithms may be difficult to discover or are found too late to fix. Hence, there could be concerns about implementing blockchain technology to supply chains [9]. The complexity of blockchain technology has also been found as a major barrier to its implementation in supply chains by the available studies [9, 13, 55]. In light of the above discussion, the following three hypotheses are formulated for the factors of innovation characteristics: H1: relative advantage of blockchain technology will positively influence the intention of SMEs to adopt it in supply chains H2: blockchain technology compatibility will positively influence the intention of SMEs to adopt it in supply chains H3: the complexity of blockchain technology will negatively influence the intention of SMEs to adopt it in supply chains 4.2. Hypothesis Development-Technological Context The technology context examines the technology readiness of organizations to adopt blockchain technology in supply chains. Technology readiness of an organization includes the availability of the required hardware, software, and specialized manpower to enable the adoption of new technology [56]. The organization should be sufficiently prepared with technological knowledge, training, expertise, and skillset to implement the new technology [56, 57]. The organizations with blockchain technology readiness are in a better position to adopt the technology in supply chains. The extant literature [6, 58, 59] has also reported the positive role of technology readiness in influencing the adoption of blockchain by SMEs in India. Thus, the following hypothesis is proposed: H4: technology readiness will positively influence the intention of SMEs to adopt blockchain technology in supply chains 4.3. Hypothesis Development-Organizational Context The organizational context explores the top management support, security concerns, and cost concerns for adopting blockchain technology in supply chains by organizations in India. Top management support can be explained as the degree to which top management comprehends the significance of new technology and is involved in the technology adoption process [60]. The allocation of adequate human, financial, and infrastructural resources by top management plays a significant role in the adoption of new technology like blockchain [37, 59, 61]. The existing literature has highlighted the positive role of top management support in the adoption of blockchain technology [6, 54, 62]. Most of the transactions through blockchain are transparent, authentic, traceable, and verifiable, and this can prevent fraud across supply chains [32]. However, with consensus among participants, it is possible to collude, and hence, security may be compromised [59]. There can also be user apprehensions about privacy and security of the data due to concerns like data vulnerability with respect to distributed ledgers [12], high level of available visibility of data [8], the tradeoff between speed of transactions, and security [9]. The extant literature has also reported security concerns as an important consideration in the adoption of blockchain technology by organizations [9, 12, 51]. The adoption of blockchain technology is expected to increase operational efficiency and reduce waste and transaction and processing costs [55]. However, the huge up-front cost with investment in hardware and software infrastructure is required for obtaining and implementing the technology [63]. The implementation of the technology may also be hindered due to the cost of human resources and skill acquisition [9]. Hence, many SMEs in India may be skeptical about adopting blockchain technology in supply chains as confirmed by the previous studies [8,9]. Based on the above discussion, the following hypotheses regarding the considered factors of organizational context are formulated: H5: top management support will positively influence the intention of SMEs to adopt blockchain technology in supply chains H6: security concerns with respect to blockchain technology will negatively influence the intention of SMEs to adopt it in supply chains H7: cost concerns with respect to blockchain technology will negatively influence the intention of SMEs to adopt it in supply chains 4.4. Hypothesis Development-Individual Characteristics The perceived usefulness and perceived ease of use of adopting blockchain technology have been considered as the individual characteristics that can influence the technology adoption intention of organizations in supply chains. Perceived usefulness refers to the degree to which a user believes that using a specific technology will improve his or her job performance [64]. It has been regarded as the primary influencer to positively induce intention for using new technology [42]. Furthermore, perceived ease of use describes the degree to which a user believes that using a specific technology would minimize his or her efforts [64]. It is linked with ease of learning, simplicity, clarity, and understandability of the technology [42]. Both these constructs are closely related since an easy-to-use technology is perceived to be more useful [4]. The available studies have described perceived usefulness and perceived ease of use as two major behavioral beliefs that are the fundamental factors for predicting user acceptance of a technology [53]. Given the above, the following hypothesis is proposed in respect of the Indian SMEs: H8: perceived usefulness will positively influence the intention of SMEs to adopt blockchain technology in supply chains H9: perceived ease of use will positively influence the intention of SMEs to adopt blockchain technology in supply chains 4.5. Hypothesis Development-Environmental Context The environmental context explores the regulatory support and vendor support for adopting blockchain technology in supply chains by the Indian SMEs. Regulatory support refers to policies and laws that play an important role in promoting the adoption of new technology [51]. Blockchain technology introduces concepts like cryptographic signatures and smart contracts, which are not addressed by the existing regulations [9]. Thus, the advent of technology calls for the review and resolution of legal issues, and the potential adopters may be more inclined to the technology if the regulatory environment is favorable [13, 54, 59]. Vendor support is vital for the successful implementation of new technology [10]. Vendor support is manifested in terms of security controls, data availability [53], user training, technical support [8], and no threat of vendor locking [9]. Hence, vendor support can positively influence the intention of users to adopt the new technology [9, 53]. Based on the previous discussion, the following hypotheses follow: H10: regulatory support will positively influence the intention of SMEs to adopt blockchain technology in supply chains H11: vendor support will positively influence the intention of SMEs to adopt blockchain technology in supply chains 5. Materials and Methods The present study has used quantitative research that involved data collection through personal interviews and online surveys. For this purpose, a survey instrument in the form of a structured and pretested questionnaire was developed. Furthermore, both primary and secondary data sources were used in the study. 5.1. Sampling and Data Collection To collect secondary data, the relevant research papers, articles, and other publications have been reviewed. The survey method has been used to collect primary data. The SMEs selected for the study consisted of enterprises having membership of the Confederation of Indian Industries (CII), Chandigarh in India. CII is a nongovernment, not-for-profit, industry-led, and industry-managed organization with a membership of over 300,000 enterprises including SMEs across India [65]. CII Chandigarh is a regional arm of CII in India. CII regularly organizes training workshops and seminars on new technologies for its members to enhance their competitiveness. Hence, it is expected that member firms of CII are conversant with the latest technologies like blockchain. The SMEs chosen for the study based on the CII Chandigarh database belonged to three northern states/union territories of India, namely, Punjab, Haryana, Himachal Pradesh, and Chandigarh. The owners/partners of the selected SMEs were approached with a request to authorize the relevant supply chain functional head for sharing the required data. In case the supply chain functional head was not available, the SME owner/partner was requested to participate in the survey on behalf of the SME. From the available CII Chandigarh database, the list of SMEs that could potentially employ blockchain in their supply chains was initially prepared. This list was finalized based on discussion with academicians and practitioners in the area of supply chain management. Only manufacturing SMEs were covered in the survey. Thus, the final list contained a total of 498 SMEs for data collection. A Google form with a questionnaire link was sent to the e-mail IDs of the respondents. The questionnaire link was hosted online from 15th September 2020 to 15th October 2020. The details of the research objectives were shared with the respondents to seek their consent to participate in the study. The participation was kept voluntary with follow-up emails at frequent intervals by the researcher with a request to participate in the survey. Some of the participants were also approached using contacts. Out of the total 498 SMEs approached for the data collection, only 228 responded with filled questionnaires. Due to the illegible responses or missing data, twelve filled questionnaires were rejected. Hence, the final sample size for the study was 216. The sample description indicating organization type, industry type, employee strength, etc., is presented in Table 1. Annual turnover range (organization type) Number Percentage Small enterprise 94 43.52 Medium enterprise 122 56.48 Industry type Electrical and electronic products/components 38 17.59 Pharmaceuticals and healthcare 22 10.19 Auto ancillaries 20 9.26 Food and agro products 14 6.48 Chemical and paints 12 5.56 Textile and garments 11 5.09 Stationary and paper 10 4.63 Packaging 10 4.63 Others 79 36.57 Employee strength Less than 20 52 24.07 Between 21 and 40 34 15.74 Between 41 and 60 31 14.35 Between 61 and 80 33 15.28 Between 81 and 100 25 11.57 More than 100 41 18.98 Plan to adopt blockchain technology in supply chains Already adopted blockchain technology in supply chains 29 13.43 Intend to adopt blockchain technology in supply chains in the next 1–3 years 109 50.46 Not planning to use cloud computing in the near future 78 36.11
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The rise of online pharmacies is making it difficult to standardize medicine supply safety. It has become very difficult to detect whether the medicines are original or not because these drugs pass through complex distributed networks, thus forming different chances for counterfeits to enter the genuine supply chain. In this project, we are using a novel drug supply chain management using Ganache based on blockchain technology to handle secure drug supply chain records. It will act as a proof of concept which solves this problem by performing drug record transactions on the blockchain to create a smart healthcare system with a drug supply chain. Generally, a smart contract is launched to give time-limited access to electronic drug records. Finally, we used blockchain smart contracts as benchmarking programs to conduct the performance of the designed system in terms of transactions per second, transaction latency, and resource utilization.
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Die Blockchain-Technologie ist auf dem Vormarsch. Während die Gesamtmarktkapitalisierung von Blockchain-basierten Crypto-Assets immer weiter ansteigt, setzen auch Unternehmen vermehrt auf Blockchain-basierte Applikationen, etwa bei intelligenten Pay-Per-Use-Systemen. Durch sie können zum Beispiel Micropayments effizient durch eigens hierfür auf der jeweiligen Blockchain-Applikation implementierten Token durchgeführt werden, welche im Bedarfsfall wiederum in Fiatwährung umgetauscht werden können. Insoweit sich immer mehr Vermögen in Blockchain-basierten Crypto-Assets ansammelt, gewinnt die Frage steigende Relevanz, wie sich diese neuartigen Vermögenswerte in der Einzel- und Gesamtvollstreckung verhalten. Im Beitrag werden diese Fragen analysiert und aufgezeigt, wo das Zivilprozessrecht und die Insolvenzordnung de lege lata nicht fähig sind, die effektive und umfassende Einzel- und Gesamtvollstreckung von Blockchain-basierten Crypto-Assets zu gewährleisten. Diese Ergebnisse sollen den rechtlichen Diskurs anreizen und den Gesetzgeber dazu auffordern, die aufgezeigten rechtlichen Hindernisse de lege ferenda abzubauen.
Chapter
Full-text available
Block chain Technology replaces centralized applications to distributed computing. Modern economy is estimated by the place of motor transport in the infrastructure of the national economy. An automobile registration system is a unified information system. This information system takes care of every information of an automobile registration. It is administered by a national registry entity and has access by other government and non-government of services that handles automobile information. Cyber Physical System (CPS) is defined as the combination of computation and physical process. It is mainly used in ICT section. It is also focused on resolving the problems related to authors of the data regarding transparency, media and storage problems by technical handling. The presented manuscript uses all above concepts at one place and integrate them to build a useful application. The presented frame allows car manufacturers, owner, repairing companies and insurance agencies to register and add new entries for cars in a simple method. Four different smart contract control blocks are updated in DriveLoop. In addition, database technology has been leveraged to cache intermediate data. It efficiently uses the Industrial IoT and 5G technologies. Many researchers have been called for rules and applications to draw old maps into the blockchain based on distributed applications. New protocols are available in this work for the International Automated Vehicle Management System, called DriveLoop, was proposed and developed.
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Despite the initial hype surrounding blockchain applications in the supply chain, real-world implementation of this disruptive technology faces significant challenges. To manage these challenges and ensure a smooth implementation, supply chain organizations must perform various activities to acquire readiness. This paper proposes a readiness assessment and management approach for blockchain implementation in the supply chain. The proposed approach allows supply chain decision-makers to (1) identify the readiness-relevant activities for blockchain implementation, (2) model the causal relationships among the identified activities, (3) assess the activities’ contribution weights to the overall readiness, and (4) develop an effective readiness improvement plan by prioritizing those activities with the most impact on the overall readiness. Fuzzy cognitive maps (FCMs) are employed to model the causal relationships between the activities. The fuzzy best-worst method (FBWM) is adopted to establish the contribution weights of the activities to the supply chain’s overall readiness. The FCM inference process is also used to incorporate feedback loops among the activities. The proposed approach is then illustrated through an empirical study.
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The process of constructing structural systems produces a huge amount of documentation that traces human activities on a construction site. While the building information modelling approach introduces common data environments (CDEs) to support document management, communication between them is limited, and mainly involves the use of email and activities susceptible to human error. This paper proposes a proof-of-concept for the integration of blockchains and smart contracts into information flows used in various CDEs. The focus of the proposal is on reducing human error and increasing the reliability and transparency of decision-making processes on construction sites pertaining to the structural system. To this end, the proof-of-concept introduces smart contracts that have different levels of complexity, with the advanced version comparing information exchanged with data gathered by IoT sensors on site. A first implementation of the proposal is also presented.
Chapter
In recent years, there has been an increasing application of blockchain technology in varying sectors, ranging from its application in financial transactions to its potential application in addressing intellectual property-related concerns through a decentralized verification process that guarantees immutable records of transactions. Given the inherent nature of blockchain technology, which is geared toward enhancing verifiability and trust in transactions by adopting a peer-to-peer verification without recourse to a central authority, it is expected that its varied applications will continue to grow in the coming years. By this unique technology, blockchain undoubtedly raises legal issues, given the difficulty in legally regulating an exciting technological landscape that is, by design, intended to be self-regulating. This chapter addresses the emerging use of blockchain technology in financial transactions, supply chain optimization, tracking intellectual property, smart contracts, establishing a chain of custody, etc. As such, this chapter aims to provide an overview of the various conceptualized applications of blockchain technology and identify the potential legal issues involved in the application of blockchain technology with Nigeria in focus as a case study.
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Cryptocurrency and blockchain are one of the most beautiful digital transformations occurring around the world. They have changed the orthodox meaning and working of currency as we know it. It is interesting to note how it excites and worries some. The main reason for the popularity of cryptocurrencies is tremendous returns in very little time. Social media platforms like twitter, provide a safe-place where individuals’ can share their thoughts as well as mindsets, which then can be heard and be reciprocated by others. This paper aims to draw a correlation between the hyped tweets and the prices of cryptocurrencies like Bitcoin - The Crypto King and Dogecoin - The Memecoin during those times. We also aim to predict the future price values of Bitcoin using its past values. By using cryptocurrencies’ financial data, twitter data, RAPIDS and cuml, a fine line can be drawn between the amount of impact tweets have on people as well as on the market. The tweets on cryptocurrency were segregated and price forecasting was done using augmented dickey fuller test and ARIMA models, 10 future values of bitcoin were predicted with 96% accuracy and 0.0395 average error.Besides, from the investigations above of the authentic cost of BTC, it is perfectly clear that there have been way more steep falls in the history of Cryptocurrencies even before Elon started tweeting about it. Thus, it can clearly be stated that no one person can control the utter volatile world of cryptocurrencies! And the decentralized system ledger of cryptocurrency remains unharmed.
Conference Paper
Full-text available
Strategically Business Excellence models drive Quality initiatives in organizations and are adopted as a framework for measuring organizational effectiveness. EFQM modelling framework is one of the very popular business excellence modelling structures and is global-ly accepted by Leaders and Quality professionals across several countries to motivate organ-izations to formulate strategies for continual improvement of organizational processes lead-ing to excellence. This paper tracks the historical Evolution of the EFQM models and dis-sects the model to its most fundamental elements and presents the analysis of the EFQM model. An in-depth analysis of the progressive evolution of the EFQM model is presented through thorough research of the changes in the EFQM modelling framework over the past three decades.
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Bitcoin is an online communication protocol that facilitates the use of a virtual currency, including electronic payments. Bitcoin's rules were designed by engineers with no apparent influence from lawyers or regulators. Bitcoin is built on a transaction log that is distributed across a network of participating computers. It includes mechanisms to reward honest participation, to bootstrap acceptance by early adopters, and to guard against concentrations of power. Bitcoin's design allows for irreversible transactions, a prescribed path of money creation over time, and a public transaction history. Anyone can create a Bitcoin account, without charge and without any centralized vetting procedure—or even a requirement to provide a real name. Collectively, these rules yield a system that is understood to be more flexible, more private, and less amenable to regulatory oversight than other forms of payment—though as we discuss, all these benefits face important limits. Bitcoin is of interest to economists as a virtual currency with potential to disrupt existing payment systems and perhaps even monetary systems. This article presents the platform's design principles and properties for a nontechnical audience; reviews its past, present, and future uses; and points out risks and regulatory issues as Bitcoin interacts with the conventional financial system and the real economy.
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A number of internet-based digital currency platform based on decentralized public ledgers have started since the introduction of the blockchain concept by the founder of Bitcoin in 2008. An important element of these public ledger platforms is an incentive system that elicits efforts from a distributed global workforce to verify and record transactions on the public ledger and a governance system for the platform. The economic efficiency and possibly viability of a public ledger platform ultimately depend on the design of these incentive and governance systems. Even if a decentralized public ledger were a more efficient technology for conducting financial transactions, and for providing a platform for distributed innovation, deficiencies in its incentive and governance systems could make it overall inferior to alternatives, including existing systems. Current claims that public ledger platforms can conduct financial transactions more efficiently ignore the inefficiencies associated with the incentive and governance systems and the likely costs associated with regulation of these platforms and complementary service providers such as vaults, wallets, and exchanges. It is possible that public ledger platforms are more efficient than other alternative platforms for conducing financial transactions, but as of now the proposition is based on apples-to-oranges comparisons compounded with speculation. Competition will lead to better incentive and governance systems for public ledger platforms.
Article
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
Conference Paper
Cryptographically generated addresses (CGA) are IPv6 addresses some address bits are generated by hashing the address owner’s public key. The address owner uses the corresponding private key to assert address ownership and to sign messages sent from the address without a PKI or other security infrastructure. This paper describes a generic CGA format that can be used in multiple applications. Our focus is on removing weaknesses of earlier proposals and on the ease of implementation. A major contribution of this paper is a hash extension technique that increases the effective hash length beyond the 64-bit limit of earlier proposals.
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"Technology is not the answer to the population problem. Rather, what is needed is 'mutual coercion mutually agreed upon'--everyone voluntarily giving up the freedom to breed without limit. If we all have an equal right to many 'commons' provided by nature and by the activities of modern governments, then by breeding freely we behave as do herders sharing a common pasture. Each herder acts rationally by adding yet one more beast to his/her herd, because each gains all the profit from that addition, while bearing only a fraction of its costs in overgrazing, which are shared by all the users. The logic of the system compels all herders to increase their herds without limit, with the 'tragic,' i.e. 'inevitable,' 'inescapable' result: ruin the commons. Appealing to individual conscience to exercise restraint in the use of social-welfare or natural commons is likewise self-defeating: the conscientious will restrict use (reproduction), the heedless will continue using (reproducing), and gradually but inevitably the selfish will out-compete the responsible. Temperance can be best accomplished through administrative law, and a 'great challenge...is to invent the corrective feedbacks..to keep custodians honest.'"
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