scholarly journals Block-chain Reaction: Why Development of Blockchain is at the Heart of the Legal Technology of Tomorrow

2019 ◽  
Vol 19 (01) ◽  
pp. 58-60
Author(s):  
Kimberley Rust
Keyword(s):  
Peer To Peer ◽  
Chain Reaction ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain ◽  
Legal Technology

Blockchain, arguably the most discussed and promising of FinTech trends, has incredible potential to transform legal technology. Infamous as the technology behind cryptocurrencies, distributed ledger technology (DLT) has developed far beyond these origins and may prove far more valuable than the currency it supports. As a form of DLT, blockchain allows for secure decentralisation of peer-to-peer, irreversible exchanges, providing a transparent and irrevocable record as these occur. The technology is already used across the legal industry and a plethora of opportunities to extend its application bubble beneath the surface, under development, waiting to break into the current market.

scholarly journals Approach and models for using distributed ledger technology to authenticate educational documents

Doklady BGUIR ◽  
2020 ◽  
Vol 18 (7) ◽  
pp. 14-22
Author(s):  
D. A. Kachan ◽  
U. A. Vishniakou
Keyword(s):  
Public Administration ◽  
Third Party ◽  
Digital Documents ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Urgent Task ◽  
Block Chain ◽  
Structural Solutions

The purpose of this article is to analyze methods, approaches, and tools of distributed ledger technology (DLT) for working with documents in education. The objectives of the article are to analyze problems with the authentication of educational documents, develop new structural solutions using block chain technology, consider two models, and evaluate their use for educational documents.Authentication of educational documents is carried out using state registers, which is a complex and resource-intensive process. There is an increase in the number of forged documents in the world, which calls into question the effectiveness of modern mechanisms. Distributed ledger technology (block chain) is a sustainable technological trend that affects the development and quality of the digital economy. The existence of a mechanism for verifying the authenticity of educational documents that is resistant to malicious manipulation is an urgent task that goes beyond the sphere of education, possible solutions to which are proposed to be considered in this paper.The article provides a brief description of DLT and considers the approach of using the technology to authenticate educational documents. It consists of two main stages: the issue of a digital educational document and its verification. The role of a trusted third party in the issue and validation process is considered. The paper presents the models for issuing and validating digital documents based on distributed ledger technology, which allows one to eliminate the limitations and shortcomings of existing approaches. The effectiveness of the approach based on the proposed models is revealed. The formulated approaches can be applied in various socio-economic areas and public administration to work with similar documents.

scholarly journals Consensus Algorithms Blockchain: A comparative study

2019 ◽  
Vol 5 (2) ◽  
pp. 66-71
Author(s):  
Siham Hattab ◽  
Imad Fakhri Taha Alyaseen
Keyword(s):  
Comparative Study ◽  
Peer To Peer ◽  
The State ◽  
Verification And Validation ◽  
Consensus Algorithm ◽  
Consensus Algorithms ◽  
The Public ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Encrypted Database

A blockchain is a Distributed Ledger Technology that has been defined as a “distributed, shared, encrypted database that serves as an irreversible and incorruptible repository of information. Blockchain can be defined as a peer-to-peer distributed ledger that is cryptographically secure, append-only, immutable and updatable only via consensus or agreement among peers. In blockchain platforms, each transaction in the public ledger is verified by consensus of the majority of the system participants in a transparent and secure way. The consensus algorithm refers to the process of attaining an unified agreement on the state of the network in a decentralized way and to facilitate the verification and validation of information being added to the blockchain. This paper aims at providing a comparison between most of the recent consensus algorithms regarding the scalability of the algorithm; the type of blockchain, node identity, the performance of the algorithm (in terms of throughput & latency) and Adversial Tolerance and to deliver a solid basis for discussions about current statistics. In this research, we also presented a new category of the Blockchain consensus algorithms, which consist of three groups as follows; the proof based on Hardware, the proof based on stake, and the proof based on voting.

scholarly journals A Decentralized, Secure, Peer-to-Peer Multi-Voting System on Ethereum Blockchain

2021 ◽  
Vol 9 (10) ◽  
pp. 1354-1359
Author(s):  
Ashmita Pandey
Keyword(s):  
Electoral System ◽  
Peer To Peer ◽  
Third Parties ◽  
Smart Contracts ◽  
Time Loss ◽  
Consensus Protocol ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
Voting System

Abstract: A decentralised, Secure, Peer-to-Peer Multi-Voting System on Ethereum Blockchain is a distributed ledger technology (DLT) that permits virtual votes to be transacted in a peer-to-peer decentralized network. Those transactions are validated and registered through every node of the network, so creating a transparent and immutable series of registered events whose truthfulness is supplied through a consensus protocol. Smart contract automates the execution of agreement that runs routinely as soon as the conditions are satisfied. Smart contract would not need any third parties consequently prevents time loss. By Eliminating the requirement for third parties, consequently, allows numerous processes to be extra efficient and economical. The system is secure, reliable, and anonymous. Smart contract is enforced for the Ethereum network using the Ethereum wallets and also the Solidity language. Users are capable of submit their votes immediately from their Ethereum wallets, and those transaction requests is handled with the consensus of each single Ethereum node. This creates a transparent environment for evoting. A lot of concerning efficiency of the peer-to-peer decentralized electoral system on Ethereum network along with application and the outcomes of implementation are provided in this paper. Keywords: Blockchain, Distributed Ledger Technology (DLT), Consensus Protocol, Smart Contracts, Ethereum, Solidity

scholarly journals Distributed Ledger Technology and the Future of Money and Banking

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Fred Huibers
Keyword(s):  
Peer To Peer ◽  
Lessons Learned ◽  
Financial Industry ◽  
Monetary Reform ◽  
Monetary System ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
The Future ◽  
The Status ◽  
Substantial Investment

Abstract Nakamoto, S. (2008). Bitcoin: A peer-to-peer electronic cash system. https://bitcoin.org/bitcoin.pdf outlined an alternative to the current monetary system in which banks are replaced by a peer-to-peer system to issue and transfer digital money: the Bitcoin. While Bitcoin has attracted a substantial investment volume, the system has not achieved the status of a viable alternative monetary system. However, the distributed ledger technology (DLT) underlying the payment system is being applied successfully by financial institutions and is likely to have important implications for the future of money and banking. In this paper we therefore focus on the most advanced distributed ledger application in the financial industry: R3 Corda. This paper is structured as follows. In the first section, we relate the debate about systems of money creation to the rise of Bitcoin. Next, the development of R3 Corda is discussed and the lessons learned for monetary reform. We conclude with an assessment of the scope and likelihood of monetary reform as a consequence of DLT applications by central banks.

scholarly journals Blockchain Technology: Rising Trend in Various Applications

2021 ◽  
Author(s):  
Zalte S. S ◽  
Patil P. N ◽  
Deshmukh S. N ◽  
Patil M. G ◽  
Katkar P. S
Keyword(s):  
Business Process ◽  
Digital Transformation ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Block Chain

In this tech world, size of block chain is exponentially growing in this covid pandemic year which was not predicted. This pandemic environment causes digital transformation drive in various areas, particularly via the utilization of block chain or distributed ledger technology. To enhance and accelerate business process in various organization and industry showed a growing interest to adopt this technology. This paper summarized various block chain applications which are widely used in number of sectors and also focus on some challenges becomes hurdle while adopting block chain technology.

scholarly journals A Design of the Settlement Mode of the Electric Vehicles’ Shared Private Piles Based on the Energy Block Chain

2021 ◽  
Vol 257 ◽  
pp. 01053
Author(s):  
Jiawei Li
Keyword(s):  
Data Analysis ◽  
Electric Vehicles ◽  
Configuration Optimization ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Complex Process ◽  
Block Chain ◽  
Decentralized Energy ◽  
Vehicle Networking

To deal with a series of settlement problems such as the insufficient security for the user’s transaction, the complex process of settlement and the difficulty in data analysis within the sharing mode of the electric vehicles’ private piles, this paper proposed a new settlement mode for the shared private piles of electric vehicles. This mode took the shared charging network of the vehicle networking and the pile networking as the background, built a decentralized energy block chain, optimized the structure of the settlement mode by using distributed ledger technology, and used the intelligent contract algorithm to improve the settlement efficiency of charging orders. At the same time, this mode considered the transaction records and subsequent data analysis in its design, and used the evidence-storage and traceability technology to facilitate the integration of charging information data and to realize the configuration optimization of charging network.

scholarly journals De-Centralized Certificate Creation and Verification using Block Chain (DCCVuB)

2019 ◽  
Vol 9 (1S) ◽  
pp. 132-136
Keyword(s):  
Rapid Growth ◽  
Government Official ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Tremendous Amount ◽  
Block Chain ◽  
High Integrity ◽  
The Creation ◽  
Ease Of Access ◽  
The Individual

The rapid growth in the population has lead to generation of large amount of data from each individual. Each and every individual holds several physically signed documents. Currently, the documents, certificates, and contracts are all printed in papers and manually signed. It is difficult for other party say a recruiter, or a government official or any other custom officer to verify the validity of the certificates and other documents of the individual. It consumes a tremendous amount of time for validating and verifying such documents manually. Thus we propose a system to develop a Decentralized application (DApp) for implementing a Blockchain[1] to store and verify the documents. By the nature of blockchain, the documents are securely stored with high integrity, and no further modifications can be done to the blocks in the chain which in turn reduces the creation of forged documents. Also using Distributed Ledger technology(DLT)[5] and IPFS the data is decentralised so that it is readily available with integrity. Also, using MultiSig[3] concepts, the system is more secured by two step authentication. Thus, blockchain creates trust and DLT provides integrity ease of access. And with use of IPFS the DApp is decentralized4]

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