Cross-chain interoperability among blockchain-based systems using transactions

2020 ◽  
Vol 35 ◽  
Author(s):  
Babu Pillai ◽  
Kamanashis Biswas ◽  
Vallipuram Muthukkumarasamy
Keyword(s):  
Information Systems ◽  
Emerging Technology ◽  
Third Party ◽  
Decentralized Systems ◽  
Blockchain Technology ◽  
Suitable Solution ◽  
Inherent Problem

Abstract The blockchain is an emerging technology which has the potential to improve many information systems. In this regard, the applications and the platform they are built on must be able to connect and communicate with each other. However, the current blockchain platforms have several limitations, such as lack of interoperability among different systems. The existing platforms of blockchain applications operate only within their own networks. Even though the underlying technology is similar, it relies on centralized third-party mediators to exchange or retrieve information from other blockchain networks. The current third-party intermediaries establish trust and security by preserving a centralized ledger to track ‘account balances’ and vouch for a transaction’s authenticity. The inability for independent blockchains to communicate with one another is an inherent problem in the decentralized systems. Lack of appropriate inter-blockchain communication puts a strain on the mainstream adoption of blockchain. It is evident that blockchain technology has the potential to become a suitable solution for some systems if it can scale and is able to cross communicate with other systems. For the multisystem blockchain concept to become a reality, a mechanism is required that would connect and communicate with multiple entities’ blockchain systems in a distributed fashion (without any intermediary), while maintaining the property of trust and integrity built by individual blockchains. In this article, we propose a mechanism that provides cross-chain interoperability using transactions.

scholarly journals Blockchain Technology for Sustainable Supply Chain Management: A Systematic Literature Review and a Classification Framework

2020 ◽  
Vol 12 (18) ◽  
pp. 7638 ◽  
Author(s):  
Vineet Paliwal ◽  
Shalini Chandra ◽  
Suneel Sharma
Keyword(s):  
Supply Chain ◽  
Information Systems ◽  
Supply Chain Management ◽  
Emerging Technology ◽  
Sustainable Supply Chain ◽  
Chain Management ◽  
Sustainable Supply Chain Management ◽  
Blockchain Technology ◽  
Classification Framework

Through a systematic review of publications in reputed peer-reviewed journals, this paper investigates the role of blockchain technology in sustainable supply chain management. It uses the What, Who, Where, When, How, and Why (5W+1H) pattern to formulate research objectives and questions. The review considers publications since 2015, and it includes 187 papers published in 2017, 2018, 2019, and the early part of 2020, since no significant publications were found in the year 2015 or 2016 on this subject. It proposes a reusable classification framework—emerging technology literature classification level (ETLCL) framework—based on grounded theory and the technology readiness level for conducting literature reviews in various focus areas of an emerging technology. Subsequently, the study uses ETLCL to classify the literature on our focus area. The results show traceability and transparency as the key benefits of applying blockchain technology. They also indicate a heightened interest in blockchain-based information systems for sustainable supply chain management starting since 2017. This paper offers invaluable insights for managers and leaders who envision sustainability as an essential component of their business. The findings demonstrate the disruptive power and role of blockchain-based information systems. Given the relative novelty of the topic and its scattered literature, the paper helps practitioners examining its various aspects by directing them to the right information sources.

Bitcoin: Security and Privacy Analysis

2019 ◽  
Vol 16 (10) ◽  
pp. 4304-4308
Author(s):  
Kailash Kumar
Keyword(s):  
Financial Institutions ◽  
Emerging Technology ◽  
Third Party ◽  
Security And Privacy ◽  
Security Issues ◽  
Blockchain Technology ◽  
Electronic Transactions ◽  
Privacy Analysis ◽  
Alternative Choice ◽  
Privacy Issues

Blockchain technology is one of the most emerging technology nowadays in the field of cryptography. In order to get full advantage of Blockchain technology, we must come up with solutions of problems associated with it in general and security and privacy issues in particular. A new dimension of electronic transactions has come up in the form of Bitcoin cryptocurrency. It is now considered as alternative choice of making payment by many financial institutions because of its decentralized nature and free from any need of trusted third party. Like any other technology, the Bitcoin cryptocurrency also has their security and privacy issues. This paper deals with various protection and security issues of the Bitcoin. The limitations and proposed solution are also presented in the paper.

scholarly journals A Blockchain-Based Public Auditing Scheme for Cloud Storage Environment without Trusted Auditors

2020 ◽  
Vol 2020 ◽  
pp. 1-13
Author(s):  
Song Li ◽  
Jian Liu ◽  
Guannan Yang ◽  
Jinguang Han
Keyword(s):  
Cloud Storage ◽  
Cloud Service ◽  
Emerging Technology ◽  
Third Party ◽  
Cloud Service Provider ◽  
Public Auditing ◽  
The Public ◽  
Blockchain Technology ◽  
Fairness And Efficiency ◽  
Cloud Storage Environment

In the cloud storage applications, the cloud service provider (CSP) may delete or damage the user’s data. In order to avoid the responsibility, CSP will not actively inform the users after the data damage, which brings the loss to the user. Therefore, increasing research focuses on the public auditing technology recently. However, most of the current auditing schemes rely on the trusted third public auditor (TPA). Although the TPA brings the advantages of fairness and efficiency, it cannot get rid of the possibility of malicious auditors, because there is no fully trusted third party in the real world. As an emerging technology, blockchain technology can effectively solve the trust problem among multiple individuals, which is suitable to solve the security bottleneck in the TPA-based public auditing scheme. This paper proposed a public auditing scheme with the blockchain technology to resist the malicious auditors. In addition, through the experimental analysis, we demonstrate that our scheme is feasible and efficient.

The Potential Of Blockchain Technology To Change International Mobile Roaming Business Model

2019 ◽  
Vol 5 (1) ◽  
pp. 15-22
Author(s):  
Ardian Thresnantia Atmaja
Keyword(s):  
Business Model ◽  
Current Situation ◽  
Business Value ◽  
Third Party ◽  
Fundamental Aspect ◽  
Clearing House ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Target Architecture ◽  
Architecture Development

The key objectives of this paper is to propose a design implementation of blockchain based on smart contract which have potential to change international mobile roaming business model by eliminating third-party data clearing house (DCH). The analysis method used comparative analysis between current situation and target architecture of international mobile roaming business that commonly used by TOGAF Architecture Development Method. The purposed design of implementation has validated the business value by using Total Cost of Ownership (TCO) calculation. This paper applies the TOGAF approach in order to address architecture gap to evaluate by the enhancement capability that required from these three fundamental aspect which are Business, Technology and Information. With the blockchain smart contract solution able to eliminate the intermediaries Data Clearing House system, which impacted to the business model of international mobile roaming with no more intermediaries fee for call data record (CDR) processing and open up for online billing and settlement among parties. In conclusion the business value of blockchain implementation in the international mobile roaming has been measured using TCO comparison between current situation and target architecture that impacted cost reduction of operational platform is 19%. With this information and understanding the blockchain technology has significant benefit in the international mobile roaming business.

scholarly journals Research on Blockchain-Based E-Bidding System

2021 ◽  
Vol 11 (9) ◽  
pp. 4011
Author(s):  
Dan Wang ◽  
Jindong Zhao ◽  
Chunxiao Mu
Keyword(s):  
Data Transmission ◽  
Privacy Protection ◽  
Graph Isomorphism ◽  
Third Party ◽  
Business Logic ◽  
Core Concept ◽  
The Core ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Bidding Process

In the field of modern bidding, electronic bidding leads a new trend of development, convenience and efficiency and other significant advantages effectively promote the reform and innovation of China’s bidding field. Nowadays, most systems require a strong and trusted third party to guarantee the integrity and security of the system. However, with the development of blockchain technology and the rise of privacy protection, researchers has begun to emphasize the core concept of decentralization. This paper introduces a decentralized electronic bidding system based on blockchain and smart contract. The system uses blockchain to replace the traditional database and uses chaincode to process business logic. In data interaction, encryption techniques such as zero-knowledge proof based on graph isomorphism are used to improve privacy protection, which improves the anonymity of participants, the privacy of data transmission, and the traceability and verifiable of data. Compared with other electronic bidding systems, this system is more secure and efficient, and has the nature of anonymous operation, which fully protects the privacy information in the bidding process.

scholarly journals CioSy: A Collaborative Blockchain-Based Insurance System

Electronics ◽  
2021 ◽  
Vol 10 (11) ◽  
pp. 1343
Author(s):  
Faiza Loukil ◽  
Khouloud Boukadi ◽  
Rasheed Hussain ◽  
Mourad Abed
Keyword(s):  
Data Storage ◽  
Insurance Industry ◽  
Emerging Technology ◽  
Third Party ◽  
Insurance Companies ◽  
Smart Contracts ◽  
Insurance Policy ◽  
Insurance System ◽  
Advanced Technologies ◽  
Multiple Challenges

The insurance industry is heavily dependent on several processes executed among multiple entities, such as insurer, insured, and third-party services. The increasingly competitive environment is pushing insurance companies to use advanced technologies to address multiple challenges, namely lack of trust, lack of transparency, and economic instability. To this end, blockchain is used as an emerging technology that enables transparent and secure data storage and transmission. In this paper, we propose CioSy, a collaborative blockchain-based insurance system for monitoring and processing the insurance transactions. To the best of our knowledge, the existing approaches do not consider collaborative insurance to achieve an automated, transparent, and tamper-proof solution. CioSy aims at automating the insurance policy processing, claim handling, and payment using smart contracts. For validation purposes, an experimental prototype is developed on Ethereum blockchain. Our experimental results show that the proposed approach is both feasible and economical in terms of time and cost.

scholarly journals Third Party Certification of Agri-Food Supply Chain Using Smart Contracts and Blockchain Tokens

Sensors ◽  
2021 ◽  
Vol 21 (16) ◽  
pp. 5307
Author(s):  
Ricardo Borges dos Santos ◽  
Nunzio Marco Torrisi ◽  
Rodrigo Palucci Pantoni
Keyword(s):  
Supply Chain ◽  
Mobile Application ◽  
Consumer Behaviour ◽  
Economic Incentives ◽  
Third Party ◽  
Smart Contracts ◽  
Proof Of Concept ◽  
Socially Responsible ◽  
The Public ◽  
Blockchain Technology

Every consumer’s buying decision at the supermarket influences food brands to make first party claims of sustainability and socially responsible farming methods on their agro-product labels. Fine wines are often subject to counterfeit along the supply chain to the consumer. This paper presents a method for efficient unrestricted publicity to third party certification (TPC) of plant agricultural products, starting at harvest, using smart contracts and blockchain tokens. The method is capable of providing economic incentives to the actors along the supply chain. A proof-of-concept using a modified Ethereum IGR token set of smart contracts using the ERC-1155 standard NFTs was deployed on the Rinkeby test net and evaluated. The main findings include (a) allowing immediate access to TPC by the public for any desired authority by using token smart contracts. (b) Food safety can be enhanced through TPC visible to consumers through mobile application and blockchain technology, thus reducing counterfeiting and green washing. (c) The framework is structured and maintained because participants obtain economical incentives thus leveraging it´s practical usage. In summary, this implementation of TPC broadcasting through tokens can improve transparency and sustainable conscientious consumer behaviour, thus enabling a more trustworthy supply chain transparency.

Financial Technology and Hedge Funds

2021 ◽  
pp. 231-250
Author(s):  
Wulf A. Kaal
Keyword(s):  
Hedge Funds ◽  
Leading Edge ◽  
Private Investment ◽  
Emerging Technology ◽  
Machine Learning Algorithms ◽  
Primary Role ◽  
Investment Fund ◽  
Fund Managers ◽  
Blockchain Technology ◽  
Front Office

Hedge funds have been on the leading edge of technology in finance with the use of big data, artificial intelligence, machine learning algorithms, and blockchain technology. This chapter examines how and why private fund advisors utilize emerging technology. Some indicia suggest that emerging technology plays a primary role in front office and investment functions, in the securing of crypto assets, but also in private investment fund managers’ attempts to satisfy the growth expectations of clients. The use of emerging technology in trade execution and other back-office functions goes hand-in-hand with an ever-increasing interest in the private investment fund industry in investing in digital assets.

Technological and Human Factor Considerations for Priced Managed Lane Traveler Information Systems

2018 ◽  
Vol 2672 (14) ◽  
pp. 10-19
Author(s):  
Nicholas S. Wood ◽  
Chris Simek ◽  
Susan T. Chrysler ◽  
Jeff Kaufman ◽  
Shawn Turner ◽  
...  
Keyword(s):  
Information Systems ◽  
Third Party ◽  
Managed Lanes ◽  
Trip Planning ◽  
Traveler Information ◽  
Traffic Incidents ◽  
Traveler Information Systems ◽  
National Review ◽  
Online Availability ◽  
Lane Closures

Travelers have many unique informational requirements to be able to navigate priced managed lanes. These demands often relate to specific managed lane features (e.g., access points, toll price) in addition to information about major traffic incidents and lane closures. Accommodating these needs with traditional roadway signage is a particular challenge given concerns about overloading and distracting drivers. This paper summarizes an investigation into traveler information systems for managed lanes, by considering a national review of current agency practices, a traveler survey, and an assessment for integrating advancing technologies. The national review found that many agencies vary considerably in pricing structure, number, and placement of priced destination points, and online availability of real-time toll information. A travel survey of 866 Texas-based respondents indicated that drivers prioritize information about traffic incidents and lane closures over toll price data (94% and 88% versus 41%, respectively). A higher share of respondents wanted to see travel time and incident alerts on in-vehicle devices, compared with a more statistically significant desire for destination and toll rate information on roadway signs. Most respondents use smartphone applications and mapping websites for pre-trip planning purposes (79% and 65%, respectively) compared with TV and radio reports (13%). Comparatively, prior research published 5 years earlier found that radio was a highly influential media in influencing behavior. This paper suggests a pathway for agencies to adopt a flexible approach for sharing essential data with third-party entities, based on the general transit-feed specification used for transit.

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