Blockchain technology based paper
AbstractBlockchain is a buzzword that has successfully transpired across the information technology industry. Blockchain began as the underlying technology behind the Bitcoin network. Blockchain at its core is a distributed, decentralized and immutable ledger. Due to its extraordinary security features, it has grown prominence in a very short time and there are already research being done on using Blockchain as services. Many businesses are shifting towards Blockchain to enhance the security and provision trust in their networks.
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Blockchain technology based paper
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Content:
- A Systematic Literature Review of Blockchain Technology for Smart Villages
- A Review on Blockchain Technology and Blockchain Projects Fostering Open Science
- Blockchain technology
- The role of blockchain technology-based social crowdfunding in advancing social value creation
- Blockchain Technologies
- Looked Good on Paper — But Blockchain Technology Is Revolutionizing Data Management, Security
- The landscape of Blockchain research: impacts and opportunities
A Systematic Literature Review of Blockchain Technology for Smart Villages
The future of blockchain is near and banking isn't the only industry affected. See how law enforcement, ride-hailing, and others could also be impacted. What began as the basis of cryptocurrencies such as Bitcoin, blockchain technology — essentially a virtual ledger capable of recording and verifying a high volume of digital transactions — is now spreading across a wave of industries. Industries from insurance to gaming to cannabis are seeing blockchain applications. Ultimately, the use cases for a transparent, verifiable register of transaction data are practically endless — especially since blockchains operate through a decentralized platform requiring no central supervision, making them resistant to fraud.
Download our free report to get all the trends. Here are the latest innovative ways companies are harnessing the power of blockchain. Blockchain and banking are just the beginning. From a macro perspective, banks serve as the critical storehouses and transfer hubs of value. As digitized, secure, and tamper-proof ledgers, blockchains could serve the same function, injecting enhanced accuracy and information sharing into the financial services ecosystem. Credit Suisse , for example, partnered with New York-based startup Paxos to use blockchain tech to settle US stock trades in March Meanwhile, JPMorgan Chase has entered the blockchain space with the JPM Coin, which it intends to use to facilitate transactions between institutional accounts.
Other banks like Goldman Sachs and Citigroup have also experimented with blockchain. However, blockchain technology offers a secure and cheap way of sending payments that cuts down on the need for verification from third parties and beats processing times for traditional bank transfers. Blockchain company Ripple has partnered with over customers, including financial institutions like Santander and Western Union , with the goal of improving the efficiency of cross-border payments.
Its xCurrent product provides banks with a two-way communication protocol that permits real-time messaging and settlement. For more on how banks will use blockchain — for everything from trade finance to customer KYC and fraud prevention — read our explainer here. For years companies have worked to ease the process of buying, selling, and trading stocks, and now new blockchain-focused startups are looking to automate and secure the process more efficiently than any past solution.
The tZERO platform integrates cryptographically secure distributed ledgers with existing trading processes to reduce settlement time and costs and increase transparency and auditability.
Partnerships with existing trading networks and exchanges will help blockchain take off in the space. Meanwhile, Numerai is taking the hedge fund model — employing a bunch of traders and quants — and decentralizing it.
Then, Numerai takes the strategy and creates a meta-model to make trades. In October , Numerai announced a new project, called Numerai Signals, that will accept signals from models trained on any dataset, not just its own. Initial Coin Offerings ICOs , in which companies sell cryptocurrency-backed tokens in their companies in the same manner as a publicly traded company sells stock, are another example of blockchain-powered crowdfunding.
Companies like CoinList , which began as a collaboration between Protocol Labs and AngelList, are bringing digital assets to the mainstream by helping blockchain companies structure legal and compliant ICOs. As projects reach target funding, money is transferred to a secure escrow wallet that unlocks funds gradually. Backers can see how the money they invested is being spent and can provide input about the direction of the project, e.
One way blockchain reduces conventional cybersecurity risk is by simply removing the need for human intermediaries — thus lessening the threat of hacking, corruption, or human error. Ironically, some of the most successful blockchain companies are fairly centralized middlemen. Enigma is the developer of Catalyst, an off-chain decentralized exchange and investment platform that works without the need of a third party to act as a clearinghouse.
Centralized exchanges like Binance and Coinbase have made moves in the decentralized exchange space, launching Binance DEX in and acquiring the peer-to-peer trading platform Paradex in , respectively.
Wills are a highly specific kind of contract, providing an ideal use case for a blockchain smart contracts solution. While the application of blockchain tech would not completely remove these challenges, it would make it easier to identify factual information, provide verifiable transaction data, and dismiss claims that are without merit.
As the banking industry continues to adapt to cryptocurrencies and blockchain technology, accountants are beginning to follow suit. Accountants work with a spread of documents — from tax forms to bank statements to spreadsheets — containing extensive personal or organizational information. Layering in blockchain technology could make it easier to keep track of this sensitive data as it is processed by accounting firms.
Data tracking enabled by blockchain technology may also help to automate certain accounting services using AI, which could reduce human error and instances of fraud.
Traditional banks and lenders underwrite loans based on a system of credit reporting. This centralized system can be hostile to consumers.
Further, concentrating this sensitive information within 3 institutions creates a lot of vulnerability. The September Equifax hack exposed the credit information of nearly M Americans. Alternative lending using blockchain technology offers a cheaper, more efficient, and more secure way of making personal loans to a broader pool of consumers. With a cryptographically secure, decentralized registry of historical payments, consumers could apply for loans based on a global credit score.
A number of companies are working in this space. Dharma Labs , for example, is a protocol for tokenized debt. It aims to provide developers with the tools and standards necessary for building online debt marketplaces. Meanwhile, Bloom wants to bring credit scoring to blockchain and is building a protocol for managing identity, risk, and credit scoring using blockchain technology.
Most blockchain applications in the insurance industry today are focused on improving operational efficiency.
Rather than developing new products, insurance companies are looking at ways blockchain can drive down costs, increase speed to market, and provide better customer experiences. For example, using a blockchain to create a single source of truth for transactions between parties has the potential to significantly drive down processing time and costs for insurance companies.
Many insurance blockchain initiatives include cross-border partnerships or deal with cross-border transactions, leveraging the immutability and version control aspects of blockchain tech. Insurwave , a joint project between consulting firm EY and blockchain company Guardtime , delivers a blockchain platform aimed at marine insurance. Clients can read more about 12 blockchain pilots in insurance here. Recording physical assets — like auto parts — on a blockchain is a prime example of where the technology might come in handy to track ownership with a tamper-proof, neutral, and resilient system.
Blockchains could be used to track parts in a supply chain and weed out those that are counterfeit. The tech also has major implications for automotive recalls, of which there were 13M in just the first half of With a record of where parts have gone, from the supplier to the individual vehicle, blockchain could enable targeted recalls.
In another example, Daimler has partnered with Singapore-based Ocean Protocol , a decentralized data exchange, to explore how blockchain could be used to share supply chain data among its manufacturing hubs and partners. The experience of leasing, buying, or selling a vehicle is a notoriously fragmented process for stakeholders on all sides of a transaction, but blockchain could change that.
Today, companies like Estonia-based carVertical are deploying blockchain tech to more reliably track car histories for users looking to buy a used car. CarVertical logs data on vehicles from a variety of sources, including leasing and insurance history, in a single ledger.
Ride-hailing apps like Uber and Lyft represent the opposite of decentralization since they essentially operate as dispatching hubs and use algorithms to control their fleets of drivers and dictate what they charge. Blockchain could inject new options into that dynamic: with a distributed ledger, drivers and riders could create a more user-driven, value-oriented marketplace. Arcade City , for example, facilitates all transactions through a blockchain system.
Arcade City operates similarly to other ride-hailing companies but allows drivers to establish their rates taking a percentage of rider fares with the blockchain logging all interactions. This allows Arcade City to appeal to professional drivers, who would rather build up their own transportation businesses than be controlled from a corporate headquarters: drivers on Arcade City are free to set their own rates, build their own recurring customer base, and offer additional services like deliveries or roadside assistance.
Arcade City announced in January it would make its code open-source to enable more peer-to-peer commerce. Another blockchain-based ridesharing app is Drife. The startup currently operates in Bangalore and is planning to launch in more cities across India. Instead of paying a fee on every fare, Drife drivers pay an annual fee to use the app. And while many of the other industries discussed involve public records, private blockchain networks offer their own possibilities. The Blockchain in Transport Alliance BiTA has been formed to develop industry standards and educate its network of members.
Blockchain can improve transactions, shipment tracking, and fleet management, as well as protect assets and increase fleet efficiency. It can help track contamination in food, for example, by tracking a truck that carries ingredients and noting if safe storage conditions were maintained during any delays. Additionally, it can help optimize routes by matching truckers and items to be delivered with trucks in a certain region. But for a decentralized ledger to work in this industry, there needs to be buy-in from every side: small and large businesses, last-mile shippers, and mega trucking companies.
Blockchain technology has the potential to streamline parts inventory and authentication, personnel certification tracking, and more. GoDirect Trade a unit of Honeywell Aerospace , for example, is an aerospace parts marketplace using blockchain to list parts for resale. Its ledger stores maintenance and manufacturing histories for each of its 25, parts in one location.
Meanwhile, to comply with NATO standards, France-based aerospace and defense contractor Thales Group is deploying blockchain at one of its new manufacturing sites to trace the naval equipment and other parts fabricated at the facility.
Countries like Russia and the US are also making moves with blockchain. Think of the data that goes into booking a flight: names, birthdays, credit card numbers, immigration details, destinations, and sometimes even hotel or rental car information, depending on how flights are booked. Transforming a material ticket into a digital token provides a new layer of security. Using a smart contract as part of the ticket token can help airlines control the sale and use of tickets to provide verified experiences for customers.
It can also be used to create more accurate logs of aircraft maintenance, prevent overbooking, and more. For example, Russia-based S7 Airlines deploys a private, Ethereum-based blockchain and smart contracts to issue and sell tickets. Airline loyalty is another area where blockchain is already being executed. This program rewards frequent fliers instantly and lets them securely use their points on a variety of purchases, not just additional flights.
Blockchain technology can help cut out the middlemen, encouraging direct provider-to-consumer interaction and reducing costs. A number of companies are leveraging blockchain tech to allow any device to securely connect, interact, and transact independently of a central authority. With ADEPT, a blockchain would serve as a public ledger for a massive amount of devices, which would no longer need a central hub to mediate communication between them.
Without a central control system to identify one another, the devices would be able to communicate with one another autonomously to manage software updates, bugs, or energy management.
More recently, companies like Helium and NetObjex have launched blockchain-based networks for IoT devices in internet infrastructure and smart city transportation, respectively. Others are focused on IoT network security.
As critical infrastructure like power plants and transportation all become equipped with connected sensors, there are privacy and security risks. Consequently, parts and products are easier to share and track — leading to smarter digital supply networks and supply chains. Using blockchain to support these evolving infrastructures can eliminate security vulnerabilities, protect intellectual property from theft, and streamline project management, ultimately helping the 3D printing and additive manufacturing sectors to grow and scale.
The blockchain-based platform registers and tracks 3D-printed parts for a more secure and tamper-proof record. Construction is a highly regulated industry that employs a wide variety of tradespeople for often complex projects.
A Review on Blockchain Technology and Blockchain Projects Fostering Open Science
Blockchain promises to solve this problem. The technology behind bitcoin, blockchain is an open, distributed ledger that records transactions safely, permanently, and very efficiently. For instance, while the transfer of a share of stock can now take up to a week, with blockchain it could happen in seconds. Blockchain could slash the cost of transactions and eliminate intermediaries like lawyers and bankers, and that could transform the economy. In this article the authors describe the path that blockchain is likely to follow and explain how firms should think about investments in it.
Blockchain technology
A blockchain is a distributed database that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin , for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party. One key difference between a typical database and a blockchain is how the data is structured. A blockchain collects information together in groups, known as blocks , that hold sets of information. Blocks have certain storage capacities and, when filled, are closed and linked to the previously filled block, forming a chain of data known as the blockchain. All new information that follows that freshly added block is compiled into a newly formed block that will then also be added to the chain once filled.
The role of blockchain technology-based social crowdfunding in advancing social value creation
Blockchain has been receiving growing attention from both academia and practices. This paper aims to investigate the research status of blockchain-related studies and to analyze the development and evolution of this latest hot area via bibliometric analysis. We selected and explored papers published between and from the Web of Science Core Collection database. The analysis considers different dimensions, including annual publications and citation trends, author distribution, popular research themes, collaboration of countries regions and institutions, top papers, major publication journals conferences , supportive funding agencies, and emerging research trends. The results show that the number of blockchain literature is still increasing, and the research priorities in blockchain-related research shift during the observation period from bitcoin, cryptocurrency, blockchain, smart contract, internet of thing, to the distributed ledger, and challenge and the inefficiency of blockchain.
Blockchain Technologies
FilesDNA leverages blockchain technology to create a safe, secure and convenient solution for signing paperwork, contracts and legally binding documents. By including cyber security software, FilesDNA offers a number of extra levels of verification of signatories to empower users worldwide with full control over their documents and assurance against fraud, which is essential for cross-country business and securing operational channels. Thanks to FilesDNA verifying every step of the document signing process from authorised business personnel and contractor IDs to buyers and sellers, it protects electronic documents that require both digital and electronic signatures, using the application of artificial intelligence. This technology helps prevent fraud, forgery and other criminal behaviour when sharing sensitive information and important documents. Providing a secured and easy to use platform, FilesDNA is optimized for speed and convenience.
Looked Good on Paper — But Blockchain Technology Is Revolutionizing Data Management, Security
This will navigate you to Accenture. Harnessing new technology for digital contracting. Blockchain has the potential to fundamentally change the way organizations do business, providing new infrastructure on which the next generation of streamlined business applications will be built. But it is also a technology with much hype that is not well understood. One simple way to define it is: Blockchain is a new type of database system that maintains and records data in a way that allows multiple stakeholders to confidently and securely share access to the same data and information.
The landscape of Blockchain research: impacts and opportunities
This article belongs to the Glossary of decentralised technosocial systems , a special section of Internet Policy Review. Blockchain-based technologies can be understood as a distributed network of computers, ideally organised in a decentralised way, mutually agreeing on a common state while tolerating failures incl. In recent years, blockchain -based technologies have attracted the interest of a wide variety of actors and stimulated a large amount of academic research.
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Blockchain technology can enhance the basic services that are essential in trade finance. At its core, blockchain relies on a decentralised, digitalised and distributed ledger model. By its nature, this is more robust and secure than the proprietary, centralised models which are currently used in the trade ecosystem. Blockchain technology creates a viable, decentralised record of transactions — the distributed ledger — which allows the substitution of a single master database. It keeps an immutable record of all transactions, back to the originating point of a transaction.
Make Submissions Propose a Special Issue. Hyper-connectivity in Industry 4. In terms of information security, it has led to an enormous economic cost due to the various and numerous security solutions used in protecting the increased assets.
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