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BLOCKCHAIN TECHNOLOGY –A WAY FOR SECURE DATA STORAGE IN DIGITAL CONSULTING PLATFORMS

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JOURNAL OF MANAGEMENT AND ENTREPRENEURSHIP ISSN : 2229-5348 UGC CARE Group 1 Journal Vol. 17, No.1 (I), January - March 2023 55 BLOCKCHAIN TECHNOLOGY –A WAY FOR SECURE DATA STORAGE IN DIGITAL CONSULTING PLATFORMS Dr.Mousmi Goel, Associate Professor, Department of Commerce, Quantum University, Roorkee, Uttarakhand, India Dr. Amit Verma, Assistant Professor, Department of Commerce, Kalicharan PG College, Lucknow, Uttar Pradesh, India. Dr. Gurdip Singh, Professor – Department of Business Management and Commerce, Mandsaur University, Mandsaur, Madhya Pradesh. Dr. Nirmesh Sharma, HOD-BBA, Quantum University, Roorkee. Abstract The blockchain technology is taking the world by storm. Blockchain with its decentralized, transparent and secure nature has emerged as a disruptive technology for the next generation of numerous industrial applications. One of them is Cloud of Things enabled by the combination of cloud computing and Internet of Things. In this context, blockchain provides innovative solutions to address challenges in Cloud of Things in terms of decentralization, data privacy and network security, while Cloud of Things offer elasticity and scalability functionalities to improve the efficiency of blockchain operations. It examines the concept of data security in a society increasingly shaped by digital technologies. We show how secure data storage can be optimised regarding digital documentation in the implementation of health-related service offers based on established procedures. Security and privacy of data are therefore particularly important in this subject area since highly sensitive data is stored and processed during health-related online consultations. The advent of blockchain technology provides a valuable opportunity to create trust in digital platforms. After relevant concepts and terms have been clarified, the functionality of the blockchain in general, as well as the different types, will be discussed. From this, options for the use of online consulting are developed and illustrated on the basis of three use cases. Keywords: Blockchain, Cloud Computing, Big Data, Data Storage
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Vol. 17, No.1 (I), January - March 2023 55
BLOCKCHAIN TECHNOLOGY A WAY FOR SECURE DATA STORAGE IN DIGITAL
CONSULTING PLATFORMS
Dr.Mousmi Goel, Associate Professor, Department of Commerce, Quantum University, Roorkee,
Uttarakhand, India
Dr. Amit Verma, Assistant Professor, Department of Commerce, Kalicharan PG College, Lucknow,
Uttar Pradesh, India.
Dr. Gurdip Singh, Professor Department of Business Management and Commerce, Mandsaur
University, Mandsaur, Madhya Pradesh.
Dr. Nirmesh Sharma, HOD-BBA, Quantum University, Roorkee.
Abstract
The blockchain technology is taking the world by storm. Blockchain with its decentralized, transparent
and secure nature has emerged as a disruptive technology for the next generation of numerous industrial
applications. One of them is Cloud of Things enabled by the combination of cloud computing and Internet
of Things. In this context, blockchain provides innovative solutions to address challenges in Cloud of
Things in terms of decentralization, data privacy and network security, while Cloud of Things offer
elasticity and scalability functionalities to improve the efficiency of blockchain operations. It examines
the concept of data security in a society increasingly shaped by digital technologies. We show how secure
data storage can be optimised regarding digital documentation in the implementation of health-related
service offers based on established procedures. Security and privacy of data are therefore particularly
important in this subject area since highly sensitive data is stored and processed during health-related
online consultations. The advent of blockchain technology provides a valuable opportunity to create trust
in digital platforms. After relevant concepts and terms have been clarified, the functionality of the
blockchain in general, as well as the different types, will be discussed. From this, options for the use of
online consulting are developed and illustrated on the basis of three use cases.
Keywords: Blockchain, Cloud Computing, Big Data, Data Storage
1)Introduction
Due to its decentralised mode of operation, blockchain technology enables data to be stored more securely
than the centralised methods of data storage that have been widely used up to now. The range of digital
services is extremely diverse and extends from the (partially) public provision of information or
communication options such as chats, e-mail or similar, to online banking, billing and payment systems,
for example, in the case of e-commerce solutions, to e-learning and concrete personal advisory services.
The borders between services are often blurred, since social media platforms; for example, allow
multimedia communication between at least two parties, money transfer, discussions in forums and so on.
However, all digital services generally have in common that they are provided by centralized institutions,
which themselves have a high degree of digitization and are represented via digital platforms. As a result,
the business models are highly scalable, and corresponding organizations can have considerable market
power . Thus, a digital service is understood to be a service offered on an online platform to solve a socially
or individually relevant problem, in the course of the use of which personal data is collected, stored and
processed by the offering institution. As already indicated, the collection of personal data demands a
certain level of data security. This is where blockchain technology can provide a remedy.
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2)Underlying Concepts: Data Security and Data Protection in Online Consulting and Blockchain
Technology
Online consulting, as a specific form of digital services, can be described as an exchange of information
between at least two parties via digital channels based on natural and/or artificial intelligence. On the level
of content, the counterpart takes care of a (e.g. physical) problem of one or more clients individually in
order to improve the (e.g. health) state. Such a consultative institution can be a human being on the one
hand, and a digital counterpart, such as an artificial intelligence in the form of an algorithm.
3) Data Security and Data Protection
The handling of data in communication and storage, especially against the background of individual
problems, is highly relevant. Discretion can, for example, be ensured by a self-imposed duty of
confidentiality, the existence of which and the mandatory compliance with which should be publicly
communicated. Ultimately, this is a way of establishing anonymity towards third parties. It appears useful
if those seeking help always have the same contact person, although complete digital documentation in
the form of a customer administrationfor example, by means of a personalized e-filing system (also
known as EHR systems, electronic health records;)provides the possibility that colleagues can also offer
their help in an emergency. Furthermore, several consultations are often necessary to solve a problem and
a future request for help can be based on the solution history of the respective client. Availability can be
controlled via cloud applications and the allocation of appropriate access rights to the personal e-file.
While this dimension focuses on the management of an organization, the protection against manipulation,
disclosure and loss of relevant data mainly concerns the underlying IT infrastructure. Privacy is an
essential umbrella for both aspects: on the one hand regarding the consultant/intermediaryclient
relationship, and on the other hand of course regarding to data security and data protection). While data
security should protect data, privacy protects people. Data security concerns the protection of data against
abuse, falsification and loss or non-availability. Data protection concerns the use of personal data by
authorized persons.
4)Blockchain Technology
The blockchain technology is based on a method by which previously unknown parties can jointly
generate and maintain practically any database on a fully distributed basis where transaction correctness
and completeness is validated using consensus of independent verifiers. There are three main advantages
of blockchain compared to other cover mediums:
(1) It is anonymous and free to join, meaning that the communication parties have free access;
(2) Submitted data cannot be altered and, in particular, the integrity guarantees are not provided by any
centralized party, but rather the consensus of the entire network; and
(3) Published data cannot be removed, meaning that no authority can apply censorship to already published
data. Since the blockchain is immutable, alteration of the covert messages is virtually impossible, and the
embedding of covert information is free to be fragile.
For better understanding of this paper, blockchain is defined as follows: “blockchain is a distributed
database, which is shared among and agreed upon a peer-to-peer network. It consists of a linked sequence
of blocks, holding time stamped transactions that are secured by public-key cryptography and verified by
the network community . These mathematical operations are indispensable to the operation of the system,
as they force the verifying nodes to expend processing power which would be wasted if they included any
fraudulent or invalid transactions. The first node that succeeds in solving a Proof-of-Work problem
broadcasts the solution, along with the block of transactions, to all other nodes. Nodes can quickly and
cheaply verify the accuracy of the transactions and solutions, and when 51% of the processing power of
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the network votes to approve a block, nodes begin recording new transactions to a new block, amending
them to all previous blocks.
5)Possibilities of Blockchain Technology Usage
The blockchain technology can be utilized advantageously in different domains, from finance to more
general societal applications. This system is implemented on blockchain. They improved the efficiency of
blockchain by using off-chain data storage and heavy processing where blockchain has the potential to
improve the security of privacy sensitive data. The authors have proposed a decentralized personal data
management system that ensures the user ownership of their data. For the first time, users can share their
data with their privacy being cryptographically guaranteed. Only references to data and lightweight
processing tasks are handled in the blockchain. The system can protect the data against these privacy
issues using three safeguards: (1) data ownership, (2) data transparency and auditability, and (3) fine-
grained access control. The first blockchain was applied in the financial sector to serve as the basis for the
cryptocurrencyBitcoin. Bitcoin uses P2P technology, and it operates without any trusted third-party
authority that may appear as a bank, a chartered accountant (CA), a notary, or any other centralized service
An owner has full control over owned bitcoins, can spend them at own discretion and without geographical
constraints or involvement of any centralized authority. Bitcoin design is open-source, nobody owns or
controls it. Moreover, it is a cryptographically secure electronic payment system, and it enables
transactions involving virtual currency in the form of digital tokens called Bitcoin (BTC or bitcoins).
Although Bitcoin is one of the most famous blockchain applications, blockchain can be applied in diverse
applications far beyond crypt currencies. The spectrum of blockchain applications ranges from
cryptocurrencies, financial services, risk management, Internet of Things to public and social services.
Since it allows payments to be finalized without any bank or intermediary, blockchain can be used in
various financial services such as digital assets, remittance and online payments. Reputation is an
important measure of the community trust. There are a rising number of cases of personal reputation
records falsification. For example, in e-commerce, many service providers enroll a huge number of fake
customers to achieve a high reputation. Blockchain can potentially solve this problem. Blockchain can
improve the security in distributed networks.
6)Perspective of Blockchain Technology in Logistics
The supply chain is the network of organizations that are involved, through linkages, in the different
processes and activities that produce value in the form of products and services in hands of the final
customer. Blockchain technology enables complete supply chain visibility. Under full visibility, it is
considered to show the movement of goods both spatially and temporally throughout various phases and
processes of the supply chain, from the physical condition of the consignment at any given moment,
through various variations of the goods (e.g., temperature deviations) and to support the decision making
of logistics operators. This way of doing business or developing a business process would fulfill the main
task of logistics, which is to bring the goods to the right place at the right time in the right amount and in
the original state. The main features of blockchain could be very useful for application in the supply chain
public availability gives the opportunity to track products from the place of origin to the end customer,
the decentralized structure provides the ability for participation for all parties in the supply chain, and its
cryptography-based and immutable nature gives the assurance of security.
7)Benefits and Challenges of Blockchain Applications in Logistics
Companies in the logistics and manufacturing industries can implement decentralized concepts for goods
and transport containers tracking. Driven by the demand for greater transparency in the supply chain,
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which allows traceability from start to finish, comprehensive technical solutions are required. As
blockchain is considered to be a solution for connecting and managing IoT devices reliably, logistics might
be one of the most promising fields of application, given the large amount of possible IoT objects in a
logistics environment (such as vehicles, shipments, etc.) . For example, Walmart aims at improving last
mile deliveries through coordinating delivery drones using the blockchain. Moreover, IoT devices
connected to the blockchain could also make use of cryptocurrencies, enabling them to interact
autonomously with other parties through smart contracts in order to pay fees and duties by themselves,
e.g., for priority access to restricted air corridors.
8) Foundations, Advantages and Disadvantages of Blockchain Technology
The technological basis of a blockchain is formed by the so-called data blocks: each block contains at
least one data record (e.g. digitally recorded contents of a consultation), a timestamp (date and time of the
conversation), transaction data (in the form of addresses of the parties involved, e.g. from consultant to
client) and a cryptographically secure, so-called hash value of the previous block as well as the verification
sum of the entire blockchain. The hash value is a character string of a certain length that acts as a check
value: the blocks that build on each other are cryptographically linked using the hashes to form a chain
(e.g. to map the course of a consultation over a longer period of time).
To participate in the blockchain, a software access, the so-called wallet, is required. Access is gained via
digital keys: the public key is comparable to the international bank account number (IBAN) known from
the banking sector, and the private key is like the secret personal identification number (PIN). The public
key can, therefore, be easily communicated to third parties as an address for transactions, while the private
key serves as an access password to the wallet and for transaction verification: in order for the participants
in the public blockchain to agree on an identical version of the same block, a consensus must be reached
for this purpose, there are various mechanisms for signing or creating blocks.This process is called mining.
Those actors who are involved in this process are called minersin the above metaphor, these are, so to
speak, the accountants of the blockchain . The advantages offered by blockchain are numerous. First, the
technology creates a new level of transparency, as all transactions can be monitored. Furthermore, the
code of the blockchain is often freely available.
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This is particularly relevant for automated big data analyses, for example, regarding systematics of
transaction flows. An additional problem is access to the blockchain: if a user loses the private key required
for validation, he also loses irretrievable access to his wallet and thus to the blockchain . While this
problem mainly affects individual participants, another problem arises on a collective level: if the actors
involved in a blockchain do not have a consensus on the future of a blockchain project since the majority
decision process can sometimes be difficult for actors unknown to each other due to a lack of trust (which
is why majority voting is both an advantage and a disadvantage), it can lead to the so-called forks, i.e. to
splits and thus fragmentation of one and the same blockchain. This can lead to uncertainty among users,
as they may then no longer know which blockchain is the one with the more promising future.
9)Blockchain Typology and Its Usage for Consulting Platforms
The use of blockchain technology in connection with online consulting is often discussed in the medical
field. However, from the advantages and disadvantages explained in the previous section, it is clear that
not all kinds of blockchains are suitable for documenting data of digital consulting platforms in a data
protection-compliant manner and thus sufficiently protecting privacy, as these data would be visible to
every participant of the blockchain .
Public blockchains are therefore intended more for the use by individuals: they retain control over their
personal data and can carry out transactions of various data, such as information, financial resources, etc.,
quickly and cost-effectively without being dependent on a central agency. Private or federated blockchains
are predestined for private companies and externally segregated, closed groups, which have to limit the
activities in their network to a certain group of people .
They offer the efficiency and transparency of blockchain technology in a protected environment that
cannot be seen by outsiders.Private blockchains use different types of consensus mechanisms than public
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blockchains, which can validate at a much higher speed than, for example, the above-mentioned proof-
based consensus mechanisms. Private blockchains are also very scalable and can be easily extended if
necessary. Therefore, it is also well possible to test them initially on a small scale and if successful in
expanding them. Legal framework conditions can also be clearly defined, as the blockchain can be
unambiguously assigned to a company or another user group
10) Permissionless Blockchain
A permissionless blockchain is open to any potential user. For example, the Bitcoin blockchain is a public
or permissionless blockchain; anyone can participate as a node in the chain by agreeing to relay and
validate transactions on the network thereby offering their computer processor as a node. Joining the
blockchain is as simple as downloading the software and bitcoin ledger from the Internet . Because the
blockchain maintains a list of every transaction ever performed, it reflects the full transaction history and
account balances of all parties.
11)Permissioned Blockchain
The limitations of permissionless blockchains have led some organizations to explore the use of private
or permissioned/consortium blockchains, which restrict participation in the blockchain network to
participants who have already been given permission by agreed-upon administrators. These blockchains
address some of the drawbacks of public blockchains, but also sacrifice some of the potential benefits
(e.g., decentralized transactions, wide distribution of the ledger, and a truly decentralized environment
without any intermediaries). Permissioned blockchains are likely to be set up by a consortium of parties
that can collectively benefit from a shared ledger system. For example, a supply chain network may want
to use a blockchain to track the movement of goods. Given the widely acknowledged limitations inherent
in public blockchains, private or permissioned/consortium blockchains are expected to have a higher
adoption rate in the near term, especially in enterprise environments . However, adoption of public
blockchains is also expected to increase in the longer term once the key infrastructure and technical
challenges of the new technology have been addressed. The paradigm shift introduced by blockchain (and
the level of interest in blockchain-based initiatives) in many ways parallels the development of the Internet
in the 1990s. With Internet technology, there was a strong initial emphasis on corporate intranets until a
critical mass was reached and the broader public Internet began to offer more benefits to offset the
perceived risks of participating in an open network.
12)Evolution of Blockchain
A key development in blockchain technology was the introduction of smart contracts. Smart contracts are
computer code stored on a blockchain that executes actions under specified circumstances . They enable
counterparties to automate tasks usually performed manually through a third-party intermediary. Smart-
contract technology can speed up business processes, reduce operational error, and improve cost
efficiency. Smart contracts are a method to automate the contracting process and enable monitoring and
enforcement of contractual promises with minimal human intervention. Automation can improve
efficiency, reduce settlement times and operational errors. Because using smart contract technology
requires the translation of all contractual terms into logic, it may also improve contract compliance by
reducing ambiguity in certain situations. As smart contracts continue to evolve, inherent risks may emerge
that need to be mitigated. For example, when setting up a smart contract, the parties may decide not to
address every possible outcome, or they may include some level of flexibility so they do not limit
themselves. This could lead to smart contracts with vulnerabilities or errors that could lead to unexpected
business outcomes. Parties may find it difficult to renegotiate the terms of a deal or modify terms due to
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an unforeseen error. Also, incomplete or flexible contracts can lead to settlement problems and disputes.
Perhaps most importantly, however, at the date of this publication, smart contracts have not been tested
thoroughly in the court system. Nevertheless, smart contracts offer a compelling use case for blockchain
adoption.
13) Where Can Blockchain Be Applied?
Blockchain technology offers the potential to impact a wide range of industries. The most promising
applications exist where transferring value or assets between parties is currently cumbersome, expensive
and requires one or more centralized organization . A specific activity attracting significant interest is
securities settlement, which today can involve multi-day clearing and settlement processes between
multiple financial intermediaries. Certain financial services experts believe the financial services industry
is on the verge of being disrupted: advances in innovative technologies such as blockchain are expected
to transform the industry and its workforce by automating many of the activities currently performed by
humans.
14) Conclusion
Blockchain technology offers an innovative platform for a new decentralized and transparent transaction
mechanism in industry and business. Features of this technology increase confidence through transparency
within any transaction of data, goods, and financial resources. Blockchain technology can easily provide
secure business operations in logistics. The technology platform is based on a decentralized system, and
it creates a permanent record that can be shared and publicly accessible. In the second paragraph,
“blockchain technology”, a brief overview of the underlying decentralized ledger technology was given,
along with basic properties of the protocol. Blockchain can help digitally trace and authenticate food
products from an ecosystem of suppliers to store shelves and ultimately to end customers. IBM blockchain
platform delivers end-to-end capabilities that clients need to quickly activate and successfully develop,
operate, govern and secure their own business networks. Blockchain technology can be the solution for
overall improvement of logistics, it can help reduce or eliminate fraud and errors, minimize costs, reduce
waste and delays, improve inventory management and it can help to identify issues faster . “Perspective
of blockchain technology in logistics”, is a central part of the paper, where various facets of
implementation of the distributed ledger technology in logistics are described. Finally, by using
blockchain technology, the challenges encountered by the logistics sector can be minimized or even
eliminated, and sustainability can be greatly increased. In the final previous research, appropriate
conclusions are derived about possible obstacles and advantages in blockchain technology
implementation. This technology can facilitate logistics tasks: it can be used to track purchase orders,
order changes and freight documents, and it can help in information sharing about manufacturing process
and delivery. The blockchain technology has huge potential for development and application in the
logistics sector and supply chain, presenting challenges for further research.
So far, however, a linking consideration of these two technological currents has been largely overlooked.
This chapter counters this desideratum by highlighting relevant terms using the example of online
consultations, especially in the healthcare sector and the possibilities of creating and maintaining data
security through the blockchain. Transparent end-client communication regarding the functionality of the
system, the technical background, and the various user groups that have access to the data are essential in
this context. Most importantly, the system must be easily accessible for a user, trivially usable (UX) and
highly trustworthy.
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Chapter
The ability to measure accurately is essential for the advancement of science, business, and society. Measurement data are utilized to enhance understanding of a subject, facilitating more accurate and informed decision-making. Inaccurate measurements can have serious impacts on health, costs, safety, and other critical factors for the affected parties. Therefore, it is crucial that the measurements employed in decision-making processes are entirely reliable. Today, many research National Metrology Institutes (NMIs) aim to transition various metrological services to digital formats. There is no doubt that digital technology will revolutionize the field of metrology. However, we must ensure that the data remains correct and accurate; otherwise, we risk losing sight of the primary objective of metrology. In this chapter, a discussion of the risks and challenges that metrology will encounter in the digital age is presented. The challenges are categorized into three phases based on their specific types. Finally, general precautions and recommended solutions are provided, along with appropriate classifications.
Conference Paper
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This paper examines the concept of trust in an increasingly digital society on the one hand and how it can be established with regard to digital documentation of online help services on the other. Trust is particularly important in the sector of digital services sector because requests and offers for help, and thus highly sensitive data, are offered, processed, and used on various online channels. With the advent of blockchain technology, there is a new central opportunity to create trust on digital platforms such as those used for online help services. After clarification of relevant concepts and terms, diverse forms of the blockchain technology are explained on the basis of the individually specific configuration of a blockchain. The main emphasis lies on federated blockchains which provide the central advantages of blockchain technology while avoiding the risk of passing on sensitive data. This results in a possible use of the technology for the area of digital services. CCS Concepts • Social and professional topics ➝ Professional topics ➝ Management of computing and information systems ➝ Software management ➝ Software selection and adaptation • Security and privacy ➝ Systems security ➝ Distributed systems security
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Blockchain has numerous benefits such as decentralization, persistency, anonymity and auditability. There is a wide spectrum of blockchain applications ranging from cryptocurrency, financial services, risk management, Internet of Things to public and social services. Although a number of studies focus on using the blockchain technology in various application aspects, there is no comprehensive survey on the blockchain technology in both technological and application perspectives. To fill this gap, we conduct a comprehensive survey on the blockchain technology. In particular, this paper gives the blockchain taxonomy, introduces typical blockchain consensus algorithms, reviews blockchain applications and discusses technical challenges as well as recent advances in tackling the challenges. Moreover, this paper also points out the future directions in the blockchain technology.
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In this paper, the exciting possibilities that block chain technology offers in regards to decentralised trust-free systems are investigated. More specifically this includes research of how block chain technology can advantageously be utilised in different domains, from finance to more general societal applica- tions. On the basis of a small trust-based coffee shop, a proof of concept system has been developed as a base point for an evaluation of the strengths and weaknesses of the block chain technology. Clearly both are present, but they are much dependent on which cases the technology is applied to. In the example of a coffee shop, the low maintenance, built in security and ease of implementation are factors that speak for the utilisation. On the other hand the inconvenience of currency conversion and transaction time are drawbacks. On a more general scale the security and trust-freeness of the technology is definitely features that allow for it to be applied in a broad spectrum of applications. However, scalability, costs and fluctuating currencies are hindrances. It is argued that block chain technology has the potential to restore trust in the banking sector by introducing a level of transparency. The technology is still young and suffers from teething troubles, but it is argued that as it matures it will have a great impact in many areas of application.
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Blockchain is an emergent technology concept that enables the decentralized and immutable storage of verified data. Over the last few years, it has increasingly attracted the attention of different industries. Especially in Fintech, Blockchain is hyped as the silver bullet that might overthrow today's payment handling. Slowly, the logistics and supply chain management community realizes how profoundly Blockchain could affect their industry. To shed light on this emerging field, we conducted an online survey and asked logistics professionals for their opinion on use case exemplars, barriers, facilitators, and the general prospects of Blockchain in logistics and supply chain management. We found most of our participants are fairly positive about this new technology and the benefits it offers. However, factors like the hierarchical level, Blockchain experiences, and the industry sector have a significant impact on the participants' evaluation. We reason that the benefits over existing IT solutions must be carved out more carefully and use cases must be further explored to get a rather conservative industry, like logistics, more excited about Blockchain.
On public and private blockchains
  • V Buterin
Buterin, V. (2015). On public and private blockchains.Ethereum Blog.
How Safe are Blockchains? It Depends Harvard Business review
  • A Berke
Berke, A.(2017). How Safe are Blockchains? It Depends Harvard Business review. Available online: https://hbr. org/2017/03/how-safe-are-blockchains-it-depends (accessed on 30 August 2018).