A Study of Use Cases for Smart Contracts Using Blockchain Technology

2021 ◽  
pp. 1823-1844
Author(s):  
S R Mani Sekhar ◽  
Siddesh G M ◽  
Swapnil Kalra ◽  
Shaswat Anand
Keyword(s):  
Natural Disaster ◽  
Vital Role ◽  
Use Cases ◽  
Use Case ◽  
Smart Contracts ◽  
Digital Identity ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Healthcare Finance ◽  
Natural Disaster Management

Blockchain technology is an emerging and rapidly growing technology in the current world scenario. It is a collection of records connected through cryptography. They play a vital role in smart contracts. Smart contracts are present in blockchains which are self-controlled and trustable. It can be integrated across various domains like healthcare, finance, self-sovereign identity, governance, logistics management and home care, etc. The purpose of this article is to analyze the various use cases of smart contracts in different domains and come up with a model which may be used in the future. Subsequently, a detailed description of a smart contract and blockchain is provided. Next, different case-studies related to five different domains is discussed with the help of use case diagrams. Finally, a solution for natural disaster management has been proposed by integrating smart contract, digital identity, policies and blockchain technologies, which can be used effectively for providing relief to victims during times of natural disaster.

A Study of Use Cases for Smart Contracts Using Blockchain Technology

2019 ◽  
Vol 10 (2) ◽  
pp. 15-34 ◽  
Author(s):  
S R Mani Sekhar ◽  
Siddesh G M ◽  
Swapnil Kalra ◽  
Shaswat Anand
Keyword(s):  
Natural Disaster ◽  
Disaster Management ◽  
Vital Role ◽  
Use Cases ◽  
Use Case ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Healthcare Finance ◽  
Natural Disaster Management

Blockchain technology is an emerging and rapidly growing technology in the current world scenario. It is a collection of records connected through cryptography. They play a vital role in smart contracts. Smart contracts are present in blockchains which are self-controlled and trustable. It can be integrated across various domains like healthcare, finance, self-sovereign identity, governance, logistics management and home care, etc. The purpose of this article is to analyze the various use cases of smart contracts in different domains and come up with a model which may be used in the future. Subsequently, a detailed description of a smart contract and blockchain is provided. Next, different case-studies related to five different domains is discussed with the help of use case diagrams. Finally, a solution for natural disaster management has been proposed by integrating smart contract, digital identity, policies and blockchain technologies, which can be used effectively for providing relief to victims during times of natural disaster.

scholarly journals Vote Validation using Blockchain Technology: A Conceptual Use Case

2020 ◽  
Vol 4 (4) ◽  
Author(s):  
Frankline Makokha
Keyword(s):  
Peer To Peer ◽  
Use Cases ◽  
Use Case ◽  
Central Authority ◽  
Distributed Consensus ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Computing Technologies ◽  
Main Component ◽  
Clear Description

Blockchain Technology is one of the computing technologies touted to likely bring about disruption in ways people conduct their transactions. By design, blockchains are decentralized, peer to peer, distributed consensus, and have anonymity property thus eliminating the need for a central Authority. Blockchain has been widely used in crypto currencies, with other uses lip frogging at slower paces.  This paper explores the various uses cases that have been advanced for blockchain highlighting the shortcomings of the listed cases. The paper expounds more on usage of blockchain in electoral processes, analyzing existing voting use cases and identifying the shortcomings of the listed blockchain voting use cases. A more elaborate voting use case is conceptualized with clear description on how to generate Digital Votes, linked to a NONCE and previous Digital Votes. The process of vote validation is explained with the main component of the blockchain voting being highlighted as the Smart Contract.

scholarly journals Smart Contract: The Concept, Legal Nature, Features of Conclusion and Execution

Legal Concept ◽  
2019 ◽  
pp. 54-60
Author(s):  
Nizami Safarli
Keyword(s):  
Russian Federation ◽  
Legal Regulation ◽  
Smart Contracts ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Legal Nature ◽  
Domestic Legislation ◽  
The Russian Federation ◽  
Statutory Regulation

Introduction: the paper is devoted to a new phenomenon in business activity in the conditions of IT development that contribute to the creation of secure contractual relations on the Internet on the basis of transactions executed through smart contracts. The author notes that the need for amendments that could fill the loopholes in the current legislation is obvious. And, first of all, it concerns Blockchain technology – the algorithm that mediates the safe development, conclusion and execution of smart contracts. Blockchain technology is considered in the paper as one of the safest means for concluding and executing smart contracts. The author argues that the study of the concept, legal nature and essence of smart contracts is relevant in the light of spreading their share in the total array of transactions in the world economy in conjunction with the changing domestic legislation governing the relevant sphere, as well as the international integration processes affecting the intensification of foreign economic activity of the Russian Federation. The smart contract concepts formulated by the Russian legislator in the process of upgrading the array of statutory regulation under conditions of economy digitalization are studied and compared. The features of conclusion and protection of the smart contract in the civil legislation of the Russian Federation are analyzed. In order to fully articulate the concept of the smart contract, reflecting its essence, functional purpose and legal nature, it is proposed to create a special law that would focus on the conclusion and implementation of “the smart contract” and the specification of the general norms of the civil code. At the same time, the norms of other special laws would supplement and correct the provisions fixed by this act depending on the sphere of managing and the legal regulation branch. The concept of the smart contract is formulated; its value for economic and contractual activity, and also the advantages and disadvantages of its application are established. The possible classifications of smart contracts are given.

scholarly journals Introduction to Blockchain and Cryptocurrenncy

2020 ◽  
Author(s):  
Vidhi Pitroda ◽  
Vraj Shah ◽  
Jinan Fiaidhi
Keyword(s):  
Peer To Peer ◽  
Research Topic ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Smart Contract ◽  
High Security

In recent years blockchain technology has become mainstream research topic because of its decentralized, peer to peer transaction and anonymity properties. There are several applications of blockchain which are secure and easy as compare to the current techniques. One of the applications is a smart contract. Smart contracts are lines of code which are stored on a blockchain and automatically executed when the conditions defined by the it (developer) are met. This smart contract with the addition of blockchain technology can do task fast and with high security. In this paper we have developed a smart contract for a generalized notary application on solidity, Ethereum and the application is tested using the truffle suite. Furthermore, applications and their methodology for notary applications are also mentioned.

scholarly journals Blockchain Smart Contract Meta-modeling

2021 ◽  
Author(s):  
Nicolás Sánchez-Gómez ◽  
Jesus Torres-Valderrama ◽  
Manuel MEJÍAS RISOTO ◽  
Alejandra GARRIDO
Keyword(s):  
Smart Contracts ◽  
Meta Model ◽  
Business Environments ◽  
Blockchain Technology ◽  
Collaborative Processes ◽  
Requirements Specifications ◽  
Smart Contract ◽  
Meta Modeling ◽  
Software Engineers ◽  
Future Work

One of the key benefits of blockchain technology is its ability to keep a permanent, unalterable record of transactions. In business environments, where companies interact with each other without a centralized authority to ensure trust between them, this has led to blockchain platforms and smart contracts being proposed as a means of implementing trustworthy collaborative processes. Software engineers must deal with them to ensure the quality of smart contracts in all phases of the smart contract lifecycle, from requirements specifications to design and deployment. This broad scope and criticality of smart contracts in business environments means that they have to be expressed in a language that is intuitive, easy-to-use, independent of the blockchain platform employed, and oriented towards software quality assurance. In this paper we present a key component: a first outline of a UML-based smart contract meta-model that would allow us to achieve these objectives. This meta-model will be enriched in future work to represent blockchain environments and automated testing.

scholarly journals Regulation of the Smart Contract in (Romanian) Civil Law

2021 ◽  
Vol 8 (2) ◽  
pp. 95-111
Author(s):  
Raluca Onufreiciuc ◽  
Lorena-Elena Stănescu
Keyword(s):  
Civil Law ◽  
Computer Code ◽  
Computer Programs ◽  
Legal Regulation ◽  
Contract Law ◽  
Use Case ◽  
Smart Contracts ◽  
Crucial Question ◽  
Smart Contract ◽  
The Subject

The research aims to organize, examine, and analyze the provisions on smart contracts available in Romanian civil law. “Smart contracts” are not smart, and are not necessarily contracts, although they can be. As self-executing computer programs, smart contracts are operational on the blockchain and unlike traditional legal contracts, once the agreement has been concluded and the smart contract is set in motion, no party can intervene and it will be executed without interruption, modification, or breach. The crucial question in the final contract law topic is what happens when the smart contract's outcomes deviate from those required by law. To answer this issue, we must first understand that whether a smart contract becomes legally enforceable is determined by several circumstances, together with the unique use case, the type of smart contract employed, and the existing legislation. The paper addresses the subject of determining and regulating smart contracts under Romanian current laws. Particular emphasis is placed on two ambiguous definitions of smart contracts: as computer code and as a civil-law contract. The authors conclude that the concept of smart contracts requires more legal regulation, particularly in terms of managing their meaning and comprehension.

scholarly journals Proof of Space Transactions: A Novel Blockchain Protocol for Secure Authentication of Satellite Transactions

2021 ◽  
Author(s):  
Aboul Ella Hassanien ◽  
Mohamed Torky ◽  
Essam Goda ◽  
Vaclav Snasel ◽  
Tarek Gaber
Keyword(s):  
Satellite Communication ◽  
Vital Role ◽  
Disruptive Technology ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Space Industry ◽  
Secure Protocols ◽  
Novel Concept ◽  
Secure Authentication ◽  
Efficiency And Reliability

Abstract Blockchain technology can play a vital role in the space industry and satellite communication. This disruptive technology can build decentralized and secure protocols for processing and manipulating space transactions in the form of space digital tokens (SDTs). Tokenizing space transactions in the form of SDTs will enable various blockchain-based applications in the space industry. Moreover, blockchain protocols based on smart contracts can be utilized to authenticate many space transactions and P2P communications in a transparent, verifiable, and secure manner. This paper proposes a new blockchain-based solution for managing and securing satellite transactions using a novel concept called SDT. SDT is then used to develop a new blockchain protocol called proof of space transactions (PoST), which is then used in proposing a new blockchain-based protocol for authenticating satellite transactions. The proposed PoST protocol is implemented and simulated using the Ethereum blockchain. Five metrics are used to evaluate the protocol's performance: Ethereum GAZ, read latency, transaction latency, read throughput, and transaction throughput. The performance evaluation results proved the efficiency and reliability of PoST in managing and securing satellite transactions.

Developing a framework for considering blockchain pilots in the supply chain – lessons from early industry adopters

2019 ◽  
Vol 25 (1) ◽  
pp. 115-121 ◽  
Author(s):  
Remko van Hoek
Keyword(s):  
Supply Chain ◽  
Case Studies ◽  
Empirical Research ◽  
Lessons Learned ◽  
Use Cases ◽  
Use Case ◽  
Content Type ◽  
Early Adopters ◽  
Design Considerations ◽  
Blockchain Technology

Purpose There is a lot of interest in blockchain technology in the supply chain, but to date, there is little empirical research to support managerial decision-making. Verhoeven et al. (2018) suggested five screens for ensuring mindful development of use cases for blockchain in the supply chain. This paper aims to extend the Verhoeven et al.’s (2018) framework and empirical research beyond the use case stage into the pilot stage. Design/methodology/approach Three case studies in different industries (logistics services, consumer products and retail), supply chain positions (manufacturer, carrier, and retailer) and geographies (Europe and USA) are conducted to explore lessons learned by early adopters of blockchain technology in the supply chain. Findings The case studies indicate that the Verhoeven et al.’s (2018) screens, with one added screen, are helpful in considering “what to adopt.” Based on the insights from the case studies, it is also possible to develop pilot design considerations that can inform “where to start.” Lessons learned include that there is value in scoping pilots in a targeted manner, including the use of existing technology in the pilot (as opposed to replacing existing technology) and that there is the ability to start a pilot fast, provided the existence of executive and stakeholder engagement. Practical implications In addition to the need to be being mindful in considering what use case for blockchain in the supply chain to potentially adopt, mindful consideration of blockchain technology in the supply chain extends into the design of pilots. Six specific design considerations are offered. Originality/value Based on the insights from early adopters in industry, the author extends guidance for the mindful adoption of blockchain in the supply chain beyond the development of use cases, into the design of actual pilots. These insights directly address calls for research from literature (including from Dobrovnik et al., 2018 and Ferdows, 2018).

scholarly journals Consortium Blockchain Smart Contracts for Musical Rights Governance in a Collective Management Organizations (CMOs) Use Case

2020 ◽  
Vol 12 (8) ◽  
pp. 134
Author(s):  
Nikolaos Kapsoulis ◽  
Alexandros Psychas ◽  
Georgios Palaiokrassas ◽  
Achilleas Marinakis ◽  
Antonios Litke ◽  
...  
Keyword(s):  
Music Industry ◽  
Use Case ◽  
Smart Contracts ◽  
Non Profit ◽  
Collective Management ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
End To End ◽  
Permissioned Blockchains

Private and permissioned blockchains are conceptualized and mostly assembled for fulfilling corporations’ demands and needs in the context of their own premises. This paper presents a complete and sophisticated end-to-end permissioned blockchain application for governance and management of musical rights endorsed by smart contract development. In a music industry use case, this disclosed solution monitors and regulates conflicting musical rights of diverse entities under a popular permissioned distributed ledger technology network. The proposed implementation couples various and distinct business domains across the music industry organizations and non-profit blockchain associations.

scholarly journals Survey of Smart Contract Framework and Its Application

Information ◽  
2021 ◽  
Vol 12 (7) ◽  
pp. 257
Author(s):  
Edi Surya Negara ◽  
Achmad Nizar Hidayanto ◽  
Ria Andryani ◽  
Rezki Syaputra
Keyword(s):  
Literature Review ◽  
Theoretical Basis ◽  
Smart Contracts ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Exploratory Approach ◽  
Implementation Studies ◽  
Technological Developments

This article is a literature review on smart contract applications in various domains. The aim is to investigate technological developments and implementation of smart contracts in various domains. For this purpose, the theoretical basis of various papers that have been published in recent years is used as a source of theoretical and implementation studies. Smart contracts are the latest technology that is developing in line with the development of blockchain technology. The literature review that we have carried out explains that smart contracts work automatically, control, or document legally relevant events and actions in accordance with the agreements set forth in the contract agreement. This technology is one of the newest technologies that is expected to provide solutions for trust, security, and transparency in various domains. This literature review was conducted using an exploratory approach. This literature review focuses on reviewing frameworks, methods, and simulations of smart contract implementations in various domains.

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