Blockchain Revolution

2021 ◽  
pp. 189-218
Author(s):  
Archana Sharma ◽  
Purnima Gupta
Keyword(s):  
Supply Chain ◽  
Financial Services ◽  
Healthcare Services ◽  
Second Phase ◽  
Future Trends ◽  
Consensus Algorithms ◽  
Blockchain Technology ◽  
Security Challenges

As the base of bitcoin, the blockchain has received widespread consideration recently. Blockchain stands for an immutable ledger which permits transactions to occur in a decentralized ways. Applications based on blockchain are numerous for instance financial services, industrial and supply chain services, legal and healthcare services, IoT and blockchain integration, bigdata analytics, and so on. Nevertheless, there are still numerous confronts of blockchain technology like security and fork problems that have to be resolved. This research highlights an inclusive indication on blockchain technology with blockchain architecture in the first phase. And in the second phase, the security challenges and problems associated with blockchain are highlighted. It further proposes and measures up to various typical consensus algorithms used in different blockchains. Research has been concluded with the potential prospects of blockchain as future trends.

Analysis of the Application of Blockchain Technology in the Field of Supply Chain Finance in the Natural Gas Industry

2021 ◽  
Author(s):  
Jianping Zhang ◽  
Fuping Wang ◽  
Yongsong Pu ◽  
Pu Li ◽  
Yingkai Ma ◽  
...  
Keyword(s):  
Supply Chain ◽  
Natural Gas ◽  
Financial Services ◽  
Organizational Innovation ◽  
Gas Industry ◽  
Blockchain Technology ◽  
Supply Chain Finance ◽  
Natural Gas Industry ◽  
Financial Framework ◽  
Gas Supply

Abstract After China's supply chain finance business has gradually matured in the consumer finance field, it has begun to extend to the industrial finance field. As a branch of industrial finance, the natural gas industry supply chain finance business has gradually developed, and the number of participants has gradually increased. The article mainly introduces the development status of natural gas supply chain financial services in China. Research has found that there are still many problems in the current industry development, such as the inability of effective collaboration among participants, and the inability to unify logistics, information flow, capital flow and energy flow in the industry. On this basis, the article studies the methods of blockchain technology to solve corresponding problems, and proposes the application ideas of blockchain technology in the field of natural gas supply chain finance, hoping to promote development by constructing a business model business architecture and technical architecture, This model can produce significant economic and social benefits, has a high theoretical feasibility, but there is no concrete examples at present. Finally, suggestions are made in five aspects, including strengthening the design of top-level systems, incorporating energy flows into the supply chain financial framework system, creating an open innovation atmosphere, enhancing technological progress, strengthening core corporate social responsibility, and promoting core corporate organizational innovation.

scholarly journals Blockchain technology and its impact on financial and shipping services

2018 ◽  
Vol 2 (1) ◽  
pp. 51-63 ◽  
Author(s):  
Viktor Diordiiev
Keyword(s):  
Financial Services ◽  
Global Economy ◽  
Insurance Industry ◽  
Public Institutions ◽  
Consensus Algorithms ◽  
Blockchain Technology ◽  
Huge Impact ◽  
Services Industry ◽  
The One ◽  
Traditional Industry

Introduction. Blockchain technology is becoming one of the main drivers of innovation in the global economy. Its adoption will have a huge impact on how businesses and governments operate and on the way people organize their everyday lives. Financial services industry is the one experiencing the biggest impact of the blockchain disruption so far, while financial institutions are among the first adopters of the technology. At the same time, being a relatively traditional industry, shipping has not yet seen many use cases with blockchain, but the technology is able to change this industry dramatically. Aim and tasks. As the industries of finance and shipping have huge potential in the blockchain space and often interact, determining how the blockchain technology adoption can influence the industries of finance and shipping in the future was the main purpose of this article. Research results. To fulfill this purpose, it was important to describe the origins of the blockchain technology, its main characteristics, functioning principles and consensus algorithms. Supported by the recent hype, cryptocurrencies are the biggest use case for blockchain so far, therefore, the article analyzes the largest of them, including Bitcoin, Ethereum and some others, as well as the cryptocurrency market as a whole. The level of worldwide adoption of blockchain and the overall market size are defined further in the article. Various applications in finance are also mentioned, paying particular attention to the insurance industry. Based on this information, the key areas in which blockchain can disrupt finance and insurance are identified. As the number of blockchain companies increases rapidly, the two main fundraising channels for such companies, venture capital and initial coin offering, are analyzed and compared. The ways in which blockchain may impact the shipping services industry are identified further. Conclusion. Afterwards, the article describes a number of blockchain consortia formed by public institutions and private entities to research and test possible applications of the technology across various industries and countries. While the potential of blockchain is still largely undiscovered, all the gathered information and performed research help to make a conclusion that the blockchain technology will have a big impact on many different industries, including financial and shipping services. The coming years will definitely see an exponentially growing interest in blockchain in academic and business fields, as the technology becomes more and more mainstream.

scholarly journals Security Issues in Blockchain based Applications

2019 ◽  
Vol 8 (6S3) ◽  
pp. 890-896
Keyword(s):  
Data Security ◽  
Financial Services ◽  
Internet Technology ◽  
Future Research ◽  
Digital Information ◽  
Financial Applications ◽  
Security Issues ◽  
Blockchain Technology ◽  
Security Challenges ◽  
New Type

Data security is the key to the development of modern internet technology. By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. It allows storage of all transactions into immutable records and every record distributed across many participant’s nodes. As there is huge increase in the use cases for blockchain technology, nowadays, the primary issue is to enable secure data sharing, data integrity and authentication. The goal of this study paper is to provide a systematic literature survey exploring the use of blockchain as a base technology for securing financial as well as non-financial applications. The purpose is to identify the whether blockchain technology is capable to provide the desired security solutions in various application. The advantages, challenges and the solution provided by previous research is discussed. The survey was focused on various security issues like Confidentiality, Integrity, Availability, Authenticity, Accountability, and Reliability. The study shows that the Blockchain technology is prospective for financial and non-financial services since it can provide solutions for majority of security issues. Future research needs to provide the implementations of desired solutions discussed in security challenges of Blockchain technology

A Brief Analysis of Blockchain Algorithms and Its Challenges

2019 ◽  
pp. 69-85
Author(s):  
Rajalakshmi Krishnamurthi ◽  
Tuhina Shree
Keyword(s):  
Internet Of Things ◽  
Financial Services ◽  
Distributed Database ◽  
Consensus Algorithm ◽  
Central Authority ◽  
Consensus Protocol ◽  
Consensus Algorithms ◽  
The Core ◽  
Blockchain Technology ◽  
Comparison Algorithms

Blockchain is the world's most trusted service. It serves as a ledger that allows transaction to take place in a decentralized manner. There are so many applications based on blockchain technology, including those covering numerous fields like financial services, non-financial services, internet of things (IoT), and so on. Blockchain combines a distributed database and decentralized ledger without the need of verification by central authority. This chapter surveys the different consensus algorithms, blockchain challenges, and their scope. There are still many challenges of this technology, such as scalability and security problems, waiting to be overcome. The consensus algorithms of blockchain are proof of work (POW), proof of stake (POS), ripple protocol consensus algorithm (RPCA), delegated proof of stake (dPOS), stellar consensus protocol (SCP), and proof of importance (POI). This chapter discusses the core concept of blockchain and some mining techniques, consensus problems, and consensus algorithms and comparison algorithms on the basis of performance.

scholarly journals Zheshang Bank’s “Blockchain + Supply Chain Finance” Accounts Receivable Financing Model of Research

2021 ◽  
Vol 275 ◽  
pp. 01074
Author(s):  
LiYuan Meng ◽  
Cong Du
Keyword(s):  
Supply Chain ◽  
Commercial Bank ◽  
Financial Services ◽  
Banking Industry ◽  
Chain Model ◽  
Corporate Financing ◽  
Accounts Receivable ◽  
Existing Problems ◽  
Blockchain Technology ◽  
Supply Chain Finance

Because small and medium-sized enterprises have problems such as high operating risks and a small proportion of real estate, they are facing difficulties in financing. Commercial bank supply chain finance provides an effective way for small and medium-sized enterprises to finance, and to a certain extent solves the problem of corporate financing difficulties. However, some of its existing problems have restricted its innovation and development. The “blockchain + supply chain finance” dual-chain model has effectively overcome the shortcomings of the banking industry in developing supply chain financial services. This article takes Zheshang Bank’s accounts receivable chain platform as the research object, explores the advantages and related risks brought by the application of blockchain technology, and puts forward the optimization suggestions of Zheshang Bank’s accounts receivable chain in supply chain finance.

Comprehensive Study on Incorporation of Blockchain Technology With IoT Enterprises

2021 ◽  
pp. 22-33
Author(s):  
Ashok Kumar Yadav
Keyword(s):  
Process Management ◽  
Single Point ◽  
Future Research ◽  
Portable Devices ◽  
Privacy And Security ◽  
Consensus Algorithms ◽  
Security Issues ◽  
Blockchain Technology ◽  
Computation Process ◽  
Security Challenges

Unprecedented advancement in wireless technology, storage, and computing power of portable devices with the gigabyte speed of internet connectivity enables the possibility of communication among machine to machine. IoT has a different way to connect many nodes simultaneously to store, access, and share the information to improve the quality of life by the elimination of the involvement of human. Irrespective of unlimited benefit, IoT has so many issues that arise to eclipse IoT in reality because of its centralized model. Scalability, reliability, privacy, and security challenges are rising because of the huge numbers of IoT nodes, centralized architecture, and complex networks. Centralized architecture may lead to problems like a single point of failure, single way traffic, huge infrastructure cost, privacy, security, and single source of trust. Therefore, to overcome the issues of the centralized infrastructure of the IoT, the authors diverted to decentralized infrastructure. It may be the best decision in terms of performance, reliability, security, privacy, and trust. Blockchain is an influential latest decentralization technology to decentralize computation, process management, and trust. A combination of blockchain with IoT may have the potential to solve scalability, reliability, privacy, and security issues of IoT. This chapter has an overview of some important consensus algorithms, IoT challenges, integration of the blockchain with IoT, its challenges, and future research issues of a combination of blockchain and IoT are also discussed.

A Brief Analysis of Blockchain Algorithms and Its Challenges

2021 ◽  
pp. 23-39
Author(s):  
Rajalakshmi Krishnamurthi ◽  
Tuhina Shree
Keyword(s):  
Internet Of Things ◽  
Financial Services ◽  
Distributed Database ◽  
Consensus Algorithm ◽  
Central Authority ◽  
Consensus Protocol ◽  
Consensus Algorithms ◽  
The Core ◽  
Blockchain Technology ◽  
Comparison Algorithms

Blockchain is the world's most trusted service. It serves as a ledger that allows transaction to take place in a decentralized manner. There are so many applications based on blockchain technology, including those covering numerous fields like financial services, non-financial services, internet of things (IoT), and so on. Blockchain combines a distributed database and decentralized ledger without the need of verification by central authority. This chapter surveys the different consensus algorithms, blockchain challenges, and their scope. There are still many challenges of this technology, such as scalability and security problems, waiting to be overcome. The consensus algorithms of blockchain are proof of work (POW), proof of stake (POS), ripple protocol consensus algorithm (RPCA), delegated proof of stake (dPOS), stellar consensus protocol (SCP), and proof of importance (POI). This chapter discusses the core concept of blockchain and some mining techniques, consensus problems, and consensus algorithms and comparison algorithms on the basis of performance.

scholarly journals A Taxonomy of Blockchain Threats and Vulnerabilities

2019 ◽  
Author(s):  
Ayman Alkhalifah ◽  
Alex Ng ◽  
A. S. M. Kayes ◽  
Jabed Chowdhury ◽  
Mamoun Alazab ◽  
...  
Keyword(s):  
Supply Chain ◽  
Internet Of Things ◽  
Digital Signature ◽  
Financial Services ◽  
Research Direction ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Digital Transactions

Blockchain technology has become one of the most popular technologies for maintaining digital transactions. From the foundation of Bitcoin to the now predominant smart contract, blockchain technology promises to induce a shift in thought about digital transactions in many fields, such as energy, healthcare, Internet of Things, cybersecurity, financial services and the supply chain. Despite blockchain technology offers many cryptography advantages such as immutability, digital signature and hashing; it has suffered from several critical cybersecurity threats and vulnerabilities. In this paper, we build upon the previous studies on vulnerabilities and investigates over 60 real cybersecurity incidents that have been happening on the blockchain networks between 2009 and 2019. We categorise those incidents against the key cybersecurity vulnerabilities in blockchain technologies; and have developed a taxonomy that captures five types of cybersecurity threats and vulnerabilities based on five main players in blockchain. The outcome of this research prompted concerns and research direction in developing countermeasures to alleviate these risks.

scholarly journals Blockchain Technology: A literature review

2020 ◽  
Vol 5 (4) ◽  
pp. 53-66
Author(s):  
Rakesh Kumar ◽  
◽  
R.S. Mishra ◽  
Dharmanshu Kumar ◽  
Sunil . ◽  
...  
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Literature Review ◽  
Financial Services ◽  
Disruptive Technology ◽  
Extensive Literature ◽  
Smart Contracts ◽  
Chain Management ◽  
Profound Impact ◽  
Blockchain Technology

In the way of digitization, Blockchain Technology is regarded by many researchers and innovators as one of the most significant disruptive technology that “will revolutionize business and redefine companies and economies. This paper is based on the growing present anticipation that blockchain technology will have a profound impact on many sectors of the industry including, for instance, financial services, supply chain management, manufacturing, healthcare, fashion, and entertainment. Extensive literature is explored of peer-reviewed journals focusing about its working, in other than above area like smart contracts, pass, adaptation in various countries, its acceptance by peoples and about their potential uses, with their challenging impact in society and technology.

Comprehensive Study of Blockchain Technology - Architecture, Consensus and Future Trends

2020 ◽  
pp. 319-325
Author(s):  
Shreya Joshi ◽  
Ms Bhavyaa ◽  
Suhani Gupta ◽  
Lalita Luthra
Keyword(s):  
Internet Of Things ◽  
Product Management ◽  
Future Trends ◽  
Deep Dive ◽  
Record Keeping ◽  
Blockchain Technology ◽  
Healthcare Product ◽  
Core Technology ◽  
Technical Challenges ◽  
Comprehensive Study

Blockchain is considered to be a disruptive core technology. Although many researchers have realized the importance of blockchain, but the research of it is still emerging. It is the record-keeping technology behind bitcoin and is one of the hottest and fastest growing skills in the IT sector today. It serves as an immutable ledger which allows transactions to take place in a decentralized man Blockchain-based applications are rising up, covering numerous fields including finance, healthcare, product management, Internet of Things (IoT), and many more. However, there are still some challenges of blockchain technology such as scalability and security problems which need to be overcome. This paper comprises of a comprehensive study of Blockchain technology. We have included here a deep dive into how blockchains work, its architecture, consensus and various applications. Furthermore, technical challenges are briefly listed.

Sign in / Sign up

Export Citation Format

Share Document