Search results for: energy blockchain

Authors: Abdeljalil Beniiche

Abstract:

The limitation with smart contracts is that they cannot access external data that might be required to control the execution of business logic. Oracles can be used to provide external data to smart contracts. An oracle is an interface that delivers data from external data outside the blockchain to a smart contract to consume. Oracle can deliver different types of data depending on the industry and requirements. In this paper, we study and describe the widely used blockchain oracles. Then, we elaborate on his potential role, technical architecture, and design patterns. Finally, we discuss the human oracle and its key role in solving the truth problem by reaching a consensus about a certain inquiry and tasks.

Keywords: blockchain, oracles, oracles design, human oracles

Procedia PDF Downloads 86

Authors: Omid Amini

Abstract:

Nowadays, technology plays the most important role in the life of human beings because people use technology to share data and to communicate with each other, but the challenge is the security of this data. For instance, as more people turn to technology in the world, more data is generated, and more hackers try to steal or infiltrate data. In addition, the data is under the control of the central authority, which can trigger the challenge of losing information and changing information; this can create widespread anxiety for different people in different communities. In this paper, we sought to investigate Blockchain technology that can guarantee information security and eliminate the challenge of central authority access to information. Now a day, people are suffering from the current voting system. This means that the lack of transparency in the voting system is a big problem for society and the government in most countries, but blockchain technology can be the best alternative to the previous voting system methods because it removes the most important challenge for voting. According to the results, this research can be a good start to getting acquainted with this new technology, especially on the security part and familiarity with how to use a voting system based on blockchain in the world. At the end of this research, it is concluded that the use of blockchain technology can solve the major security problem and lead to a secure and transparent election.

Keywords: blockchain, technology, security, information, voting system, transparency

Procedia PDF Downloads 96

Authors: Amogh Katti, J. Sai Asritha, D. Nivedh, M. Kalyan Srinivas, B. Somnath Chakravarthi

Abstract:

Today's modern education system uses Learning Management System (LMS) portals for the scoring and grading of student performances, to maintain student records, and teachers are instructed to accept assignments through online submissions of .pdf,.doc,.ppt, etc. There is a risk of data tampering in the traditional portals; we will apply the Blockchain model instead of this traditional model to avoid data tampering and also provide a decentralized mechanism for overall fairness. Blockchain technology is a better and also recommended model because of the following features: consensus mechanism, decentralized system, cryptographic encryption, smart contracts, Ethereum blockchain. The proposed system ensures data integrity and tamper-proof assignment submission and grading, which will be helpful for both students and also educators.

Keywords: education technology, learning management system, decentralized applications, blockchain

Procedia PDF Downloads 47

Authors: Haitham Assiri, Priyadarsi Nanda

Abstract:

The world is gradually entering the fourth industrial revolution. E-Government services are scaling government operations across the globe. However, as promising as an e-Government system would be, it is also susceptible to malicious attacks if not properly secured. This study found out that, in Saudi Arabia, the e-Government website, Yesser is vulnerable to external attacks. Obviously, this can lead to a breach of data integrity and privacy. In this paper, a Systematic Literature Review was conducted to explore possible ways the Kingdom of Saudi Arabia can take necessary measures to strengthen its e-Government system using Blockchain. Blockchain is one of the emerging technologies shaping the world through its applications in finance, elections, healthcare, etc. It secures systems and brings more transparency. A total of 28 papers were selected for this SLR, and 19 of the papers significantly showed that blockchain could enhance the security and privacy of Saudi’s e-government system. Other papers also concluded that blockchain is effective, albeit with the integration of other technologies like IoT, AI and big data. These papers have been analysed to sieve out the findings and set the stage for future research into the subject.

Keywords: blockchain, data integrity, e-government, security threats

Procedia PDF Downloads 215

Authors: K. S. Suganya, R. Nedunchezhian

Abstract:

In recent years, blockchain technology has been found to be the most significant discovery in this digital era, after the discovery of the Internet and Cloud Computing. Blockchain is a simple, distributed public ledger that contains all the user’s transaction details in a block. The global copy of the block is then shared among all its peer-peer network users after validation by the Blockchain miners. Once a block is validated and accepted, it cannot be altered by any users making it a trust-free transaction. It also resolves the problem of double-spending by using traditional cryptographic methods. Since the advent of bitcoin, blockchain has been the backbone for all its transactions. But in recent years, it has found its roots and uses in many fields like Smart Contracts, Smart City management, healthcare, etc. Identity management against digital identity theft has become a major concern among financial and other organizations. To solve this digital identity theft, blockchain technology can be employed with existing identity management systems, which maintain a distributed public ledger containing details of an individual’s identity containing information such as Digital birth certificates, Citizenship number, Bank details, voter details, driving license in the form of blocks verified on the blockchain becomes time-stamped, unforgeable and publicly visible for any legitimate users. The main challenge in using blockchain technology to prevent digital identity theft is ensuring the pseudo-anonymity and privacy of the users. This survey paper will exert to study the blockchain concepts, consensus protocols, and various blockchain-based Digital Identity Management systems with their research scope. This paper also discusses the role of Blockchain in COVID-19 pandemic management by self-sovereign identity and supply chain management.

Keywords: blockchain, consensus protocols, bitcoin, identity theft, digital identity management, pandemic, COVID-19, self-sovereign identity

Procedia PDF Downloads 96

Authors: Barkha Ramteke, Sonali Ridhorkar

Abstract:

An election is an important event in all countries. Traditional voting has several drawbacks, including the expense of time and effort required for tallying and counting results, the cost of papers, arrangements, and everything else required to complete a voting process. Many countries are now considering online e-voting systems, but the traditional e-voting systems suffer a lack of trust. It is not known if a vote is counted correctly, tampered or not. A lack of transparency means that the voter has no assurance that his or her vote will be counted as they voted in elections. Electronic voting systems are increasingly using blockchain technology as an underlying storage mechanism to make the voting process more transparent and assure data immutability as blockchain technology grows in popularity. The transparent feature, on the other hand, may reveal critical information about applicants because all system users have the same entitlement to their data. Furthermore, because of blockchain's pseudo-anonymity, voters' privacy will be revealed, and third parties involved in the voting process, such as registration institutions, will be able to tamper with data. To overcome these difficulties, we apply Ethereum smart contracts into blockchain-based voting systems.

Keywords: blockchain, AMV chain, electronic voting, decentralized

Procedia PDF Downloads 110

Authors: Sakshi Singh, Shampa Chakraverty

Abstract:

One of the essential characteristics of Blockchain is the ability to validate the integrity of new transactions added to the Blockchain. Moreover, one of the essential consensus algorithms, Proof of Work, performs this job. In this work, we implemented the Proof of Work consensus method on the block formed by performing the transaction using Ganache. The primary goal of this implementation is to understand the process and record how Proof of Work works in reality on newly created blocks.

Keywords: proof of work, blockchain, ganache, smart contract

Procedia PDF Downloads 119

Authors: Teo Hao Jing, Shane Ho Ken Wae, Lee Jin Yu, Burra Venkata Durga Kumar

Abstract:

Current distributed healthcare systems face the challenge of interoperability of health data. Storing electronic health records (EHR) in local databases causes them to be fragmented. This problem is aggravated as patients visit multiple healthcare providers in their lifetime. Existing solutions are unable to solve this issue and have caused burdens to healthcare specialists and patients alike. Blockchain technology was found to be able to increase the interoperability of health data by implementing digital access rules, enabling uniformed patient identity, and providing data aggregation. Consortium blockchain was found to have high read throughputs, is more trustworthy, more secure against external disruptions and accommodates transactions without fees. Therefore, this paper proposes a blockchain-based model for data management applications. In this model, a consortium blockchain is implemented by using a delegated proof of stake (DPoS) as its consensus mechanism. This blockchain allows collaboration between users from different organizations such as hospitals and medical bureaus. Patients serve as the owner of their information, where users from other parties require authorization from the patient to view their information. Hospitals upload the hash value of patients’ generated data to the blockchain, whereas the encrypted information is stored in a distributed cloud storage.

Keywords: blockchain technology, data management applications, healthcare, interoperability, delegated proof of stake

Procedia PDF Downloads 113

Authors: Mifta Ul Jannat, Raju Ahmed, Al Mamun, Jannatul Ferdaus, Ritu Costa, Milon Biswas

Abstract:

Blockchain is an internet-based invention that is coveted in the permanent, scumbled record for its capacity to openly accept, record, and distribute transactions. In a traditional supply chain, there are no trustworthy participants for an organic product. Yet blockchain engineering may provide confidence, transparency, and traceability. Blockchain varies in how companies get real, checked, and lasting information from their supply chain and lock in customers. In an arrangement of cryptographic squares, Blockchain digitizes each connection by sparing it. No one person may alter the documents, and any alteration within the agreement is clear to all. The coming to the record is tamper proof and unchanging, offering a complete history of the object’s life cycle and minimizing opening for extorting. The primary aim of this analysis is to identify the underlying problem that the customer faces. In this post, we will minimize the allocation of fraud data through the ’Smart Contract’ and include a certificate of quality assurance.

Keywords: blockchain technology, food supply chain, Ethereum, smart contract, quality assurance, trustability, security, transparency

Procedia PDF Downloads 128

Authors: Malaw Ndiaye, Karim Konate

Abstract:

Blockchain and smart contracts can be used to facilitate almost any financial transaction. Thanks to these smart contracts, the settlement of dividends and coupons could be automated. The blockchain would allow all these transactions to be saved in a single ledger rather than in many databases through many organizations as is currently the case. Smart contracts have become lucrative and profitable targets for attackers because they can hold a large amount of money. This paper takes stock of cryptocurrency crime by assessing attacks due to smart contracts and the cost of losses. These losses are often the result of two types of malicious contracts: vulnerable contracts and criminal smart contracts. Studying the behavior of malicious contracts allows us to understand the root causes and consequences of attacks and the defense capabilities that exist although they do not definitively solve the crime problem. It makes it possible to approach new defense perspectives which will be concretized in future work.

Keywords: blockchain, malicious smart contracts, crypto-currency, crimes, attacks

Procedia PDF Downloads 240

Authors: Syed Irfan Raza Naqvi, Zheng Jiangbin, Ahmad Moshin, Pervez Akhter

Abstract:

Currently, the IoT system depends on a centralized client-servant architecture that causes various scalability and privacy vulnerabilities. Distributed ledger technology (DLT) introduces a set of opportunities for the IoT, which leads to practical ideas for existing components at all levels of existing architectures. Blockchain Technology (BCT) appears to be one approach to solving several IoT problems, like Bitcoin (BTC) and Ethereum, which offer multiple possibilities. Besides, IoTs are resource-constrained devices with insufficient capacity and computational overhead to process blockchain consensus mechanisms; the traditional BCT existing challenge for IoTs is poor scalability, energy efficiency, and transaction fees. IOTA is a distributed ledger based on Direct Acyclic Graph (DAG) that ensures M2M micro-transactions are free of charge. IOTA has the potential to address existing IoT-related difficulties such as infrastructure scalability, privacy and access control mechanisms. We proposed an architecture, SLDBI: A Scalable, lightweight DAG-based Blockchain Design for Intelligent IoT Systems, which adapts the DAG base Tangle and implements a lightweight message data model to address the IoT limitations. It enables the smooth integration of new IoT devices into a variety of apps. SLDBI enables comprehensive access control, energy efficiency, and scalability in IoT ecosystems by utilizing the Masked Authentication Message (MAM) protocol and the IOTA Smart Contract Protocol (ISCP). Furthermore, we suggest proof-of-work (PoW) computation on the full node in an energy-efficient way. Experiments have been carried out to show the capability of a tangle to achieve better scalability while maintaining energy efficiency. The findings show user access control management at granularity levels and ensure scale up to massive networks with thousands of IoT nodes, such as Smart Connected Buildings (SCBDs).

Keywords: blockchain, IOT, direct acyclic graphy, scalability, access control, architecture, smart contract, smart connected buildings

Procedia PDF Downloads 84

Authors: Mohamed Rasslan, Doaa Abdelrahman, Mahmoud M. Nasreldin, Ghada Farouk, Heba K. Aslan

Abstract:

Blockchain is a distributed database that endorses transparency while bitcoin is a decentralized cryptocurrency (electronic cash) that endorses anonymity and is powered by blockchain technology. Smart contracts are programs that are stored on a blockchain. Smart contracts are executed when predetermined conditions are fulfilled. Smart contracts automate the agreement execution in order to make sure that all participants immediate-synchronism of the outcome-certainty, without any intermediary's involvement or time loss. Currently, the Bitcoin market worth billions of dollars. Bitcoin could be transferred from one purchaser to another without the need for an intermediary bank. Network nodes through cryptography verify bitcoin transactions, which are registered in a public-book called “blockchain”. Bitcoin could be replaced by other coins, merchandise, and services. Rapid growing of the bitcoin market-value, encourages its counterparts to make use of its weaknesses and exploit vulnerabilities for profit. Moreover, it motivates scientists to define known vulnerabilities, offer countermeasures, and predict future threats. In his paper, we study blockchain technology and bitcoin from the attacker’s point of view. Furthermore, mitigations for the attacks are suggested, and contemporary security solutions are discussed. Finally, research methods that achieve strict security and privacy protocol are elaborated.

Keywords: Cryptocurrencies, Blockchain, Bitcoin, Smart Contracts, Peer-to-Peer Network, Security Issues, Privacy Techniques

Procedia PDF Downloads 52

Authors: Elham Ahmadi, Roshaali Khaturia, Pardis Sahraei, Mohammad Niyayesh, Omid Fatahi Valilai

Abstract:

Nowadays, Information Technology (IT) is changing the way traditional enterprise management concepts work. One of the most dominant IT achievements is the Blockchain Technology. This technology enables the distributed collaboration of stakeholders for their interactions while fulfilling the security and consensus rules among them. This paper has focused on the application of Blockchain technology to enhance one of traditional inventory management models. The Vendor Managed Inventory (VMI) has been considered one of the most efficient mechanisms for vendor inventory planning by the suppliers. While VMI has brought competitive advantages for many industries, however its centralized mechanism limits the collaboration of a pool of suppliers and vendors simultaneously. This paper has studied the recent research for VMI application in industries and also has investigated the applications of Blockchain technology for decentralized collaboration of stakeholders. Focusing on sustainability issue for total supply chain consisting suppliers and vendors, it has proposed a Blockchain based VMI conceptual model. The different capabilities of this model for enabling the collaboration of stakeholders while maintaining the competitive advantages and sustainability issues have been discussed.

Keywords: vendor managed inventory, VMI, blockchain technology, supply chain planning, sustainability

Procedia PDF Downloads 187

Authors: Umair Shafique, Hafiz Usman Zia, Fiaz Majeed, Samina Naz, Javeria Ahmed, Maleeha Zainab

Abstract:

The Internet of Things (IoT) has become a hot topic for the last couple of years. This innovative technology has shown promising progress in various areas, and the world has witnessed exponential growth in multiple application domains. Researchers are working to investigate its aptitudes to get the best from it by harnessing its true potential. But at the same time, IoT networks open up a new aspect of vulnerability and physical threats to data integrity, privacy, and confidentiality. It's is due to centralized control, data silos approach for handling information, and a lack of standardization in the IoT networks. As we know, blockchain is a new technology that involves creating secure distributed ledgers to store and communicate data. Some of the benefits include resiliency, integrity, anonymity, decentralization, and autonomous control. The potential for blockchain technology to provide the key to managing and controlling IoT has created a new wave of excitement around the idea of putting that data back into the hands of the end-users. In this manuscript, we have proposed a model that combines blockchain and IoT networks to address potential security and privacy issues in the healthcare domain. Then we try to describe various application areas, challenges, and future directions in the healthcare sector where blockchain platforms merge with IoT networks.

Keywords: IoT, blockchain, cryptocurrency, healthcare, consensus, data

Procedia PDF Downloads 144

Authors: Ali Mohammad Mobaser Azad, Alireza Akhlaghinia

Abstract:

Blockchain is changing our world and launching a new generation of decentralized networks. Meanwhile, Blockchain-based networks like Ethereum have been created and they will facilitate these processes using tools like smart contracts. The Ethereum has fundamental structures, each of which affects the activity of the nodes. Our purpose in this paper is to review similar research and examine various components to demonstrate the performance of the Ethereum network and to do this, and we used the data published by the Ethereum Foundation in different time spots to examine the number of changes that determine the status of network performance. This will help other researchers understand better Ethereum in different situations.

Keywords: blockchain, ethereum, smart contract, decentralization consensus algorithm

Procedia PDF Downloads 180

Authors: Wu You, Burra Venkata Durga Kumar

Abstract:

This study examines the promising potential of integrating Blockchain and Artificial Intelligence (AI) technologies to scalability in Distributed Systems within the field of supply chain finance. The finance industry is continually confronted with scalability challenges in its Distributed Systems, particularly within the supply chain finance sector, impacting efficiency and security. Blockchain, with its inherent attributes of high scalability and secure distributed ledger system, coupled with AI's strengths in optimizing data processing and decision-making, holds the key to innovating the industry's approach to these issues. This study elucidates the synergistic interplay between Blockchain and AI, detailing how their fusion can drive a significant transformation in the supply chain finance sector's Distributed Systems. It offers specific use-cases within this field to illustrate the practical implications and potential benefits of this technological convergence. The study also discusses future possibilities and current challenges in implementing this groundbreaking approach within the context of supply chain finance. It concludes that the intersection of Blockchain and AI could ignite a new epoch of enhanced efficiency, security, and transparency in the Distributed Systems of supply chain finance within the financial industry.

Keywords: blockchain, artificial intelligence (AI), scaled distributed systems, supply chain finance, efficiency and security

Procedia PDF Downloads 53

Authors: Merey M. Sarsengeldin, Alexandr S. Kolokhmatov, Galiya Seidaliyeva, Alexandr Ozerov, Sanim T. Imatayeva

Abstract:

This series of interdisciplinary studies is an attempt to investigate and develop a scalable model of fair socioeconomic relations on the base of blockchain using positive psychology techniques and Machine Learning algorithms for data analytics. In this particular study, we use hyperinteraction approach and intuition to investigate their influence on 'wisdom of crowds' via created mobile application which was created for the purpose of this research. Along with the public blockchain and private Decentralized Autonomous Organization (DAO) which were elaborated by us on the base of Ethereum blockchain, a model of fair financial relations of members of DAO was developed. We developed a smart contract, so-called, Fair Price Protocol and use it for implementation of model. The data obtained from mobile application was analyzed by ML algorithms. A model was tested on football matches.

Keywords: blockchain, Naïve Bayes algorithm, hyperinteraction, intuition, wisdom of crowd, decentralized autonomous organization

Procedia PDF Downloads 143

Authors: Mengdi Zhang, Zhenji Gao, Ning Kang, Rongmei Liu

Abstract:

Management and application of geological big data is an important part of China's national big data strategy. With the implementation of a national big data strategy, geological big data management becomes more and more critical. At present, there are still a lot of technology barriers as well as cognition chaos in many aspects of geological big data management and application, such as data sharing, intellectual property protection, and application technology. Therefore, it’s a key task to make better use of new technologies for deeper delving and wider application of geological big data. In this paper, we briefly introduce the basic principle of blockchain technology at the beginning and then make an analysis of the application dilemma of geological data. Based on the current analysis, we bring forward some feasible patterns and scenarios for the blockchain application in geological big data and put forward serval suggestions for future work in geological big data management.

Keywords: blockchain, intellectual property protection, geological data, big data management

Procedia PDF Downloads 54

Authors: Loong Qing Zhe, Foo Jing Heng

Abstract:

A variety of data files are now available on the internet due to the advancement of technology across the globe today. As more and more data are being uploaded on the internet, people are becoming more concerned that their private data, particularly medical health records, are being compromised and sold to others for money. Hence, the accessibility and confidentiality of patients' medical records have to be protected through electronic means. Blockchain technology is introduced to offer patients security against adversaries or unauthorised parties. In the blockchain network, only authorised personnel or organisations that have been validated as nodes may share information and data. For any change within the network, including adding a new block or modifying existing information about the block, a majority of two-thirds of the vote is required to confirm its legitimacy. Additionally, a consortium permission blockchain will connect all the entities within the same community. Consequently, all medical data in the network can be safely shared with all authorised entities. Also, synchronization can be performed within the cloud since the data is real-time. This paper discusses an efficient method for storing and sharing electronic health records (EHRs). It also examines the framework of roles within the blockchain and proposes a new approach to maintain EHRs with keyword indexes to search for patients' medical records while ensuring data privacy.

Keywords: healthcare sectors, distributed system, blockchain, electronic health records (EHR)

Procedia PDF Downloads 164

Authors: Seyed Hossein Iranmanesh, Hassan Nouri, Seyed Reza Iranmanesh

Abstract:

In the dynamic and complex landscape of today’s business, organizations often face challenges in impactful decision-making across multi-project settings. To efficiently allocate resources, coordinate tasks, and optimize project outcomes, establishing robust decision-making processes is essential. Furthermore, the increasing importance of information systems and their integration within organizational workflows introduces an additional layer of complexity. This research proposes the use of blockchain technology as a suitable solution to enhance decision-making in multi-project environments, particularly within the realm of information systems. The conceptual framework in this study comprises four independent variables and one dependent variable. The identified independent variables for the targeted research include: Blockchain Layer in Integrated Systems, Quality of Generated Information ,User Satisfaction with Integrated Systems and Utilization of Integrated Systems. The project’s performance, considered as the dependent variable and moderated by organizational policies and procedures, reflects the impact of blockchain technology adoption on organizational effectiveness1. The results highlight the significant influence of blockchain implementation on organizational performance.

Keywords: multi-project environments, decision support systems, information systems, blockchain technology, decentralized systems.

Procedia PDF Downloads 20

Authors: Ahmad Saleem

Abstract:

Ethereum is the second largest crypto currency in blockchain ecosystem. Along with standard transactions, it supports smart contracts and NFT’s. Current research trends are focused on analyzing the overall structure of the network its growth and behavior. Ethereum addresses are anonymous and can be created on fly. The nature of Ethereum network and addresses make it hard to predict their behavior. The activity period of an ethereum address is not much analyzed. Using machine learning we can make early prediction about the disposability of the address. In this paper we analyzed the lifetime of the addresses. We also identified and predicted the disposable addresses using machine learning models and compared the results.

Keywords: blockchain, Ethereum, cryptocurrency, prediction

Procedia PDF Downloads 70

Authors: Mohammad Yousuf Khan, Bhavya Alankar

Abstract:

Blockchain is a promising technology with its features such as immutability and decentralized database. It has applications in various fields such as pharmaceutical, finance, & the food industry. At the core of its heart lies its feature, traceability which is the most desired key in supply chains. However, supply chains have always been hit rock bottom by scandals and controversies. In this review paper, we have explored the advancement and research gaps of blockchain technology (BT) in supply chain management (SCM). We have used the Prisma framework for systematic literature review (SLR) and included a minuscule amount of grey literature to reduce publication bias. We found that supply chain traceability and transparency is the most researched objective in SCM. There was hardly any research in supply chain resilience. Further, we found that 40 % of the papers were application based. Most articles have focused on the advantages of BT, rather than analyzing it critically. This study will help identify gaps and suitable actions to be followed for an efficient implementation of BT in SCM.

Keywords: blockchain technology, supply chain management, supply chain transparency, supply chain resilience

Procedia PDF Downloads 134

Authors: Volker Wannack

Abstract:

The aim of this paper is to present a concept for addressing the Oracle Problem in the context of hydrogen production using renewable energy sources. The proposed approach relies on the authentication of the electricity used for hydrogen production by multiple surrounding actors with similar electricity generation facilities, which attest to the authenticity of the electricity production. The concept introduces an Authenticity Score assigned to each certificate, as well as a Trust Score assigned to each witness. Each certificate must be attested by different actors with a sufficient Trust Score to achieve an Authenticity Score above a predefined threshold, thereby demonstrating that the produced hydrogen is indeed "green."

Keywords: hydrogen, blockchain, sustainability, structural change

Procedia PDF Downloads 33

Authors: Shahin Zanbaghi, Saeed Samet

Abstract:

The internet has transformed the way we shop. Previously, most of our purchases came in the form of shopping trips to a nearby store. Now, it’s as easy as clicking a mouse. But with great convenience comes great responsibility. We have to be constantly vigilant about our personal information. In this work, our proposed approach is to encrypt the information printed on the physical packages, which include personal information in plain text, using a symmetric encryption algorithm; then, we store that encrypted information into a Blockchain network rather than storing them in companies or corporations centralized databases. We present, implement and assess a blockchain-based system using Ethereum smart contracts. We present detailed algorithms that explain the details of our smart contract. We present the security, cost, and performance analysis of the proposed method. Our work indicates that the proposed solution is economically attainable and provides data integrity, security, transparency, and data traceability.

Keywords: blockchain, Ethereum, smart contract, commit-reveal scheme

Procedia PDF Downloads 121

Authors: Malaw Ndiaye, Karim Konate

Abstract:

Smart contracts are computer protocols that facilitate, verify, and execute the negotiation or execution of a contract, or that render a contractual term unnecessary. Blockchain and smart contracts can be used to facilitate almost any financial transaction. Thanks to these smart contracts, the settlement of dividends and coupons could be automated. Smart contracts have become lucrative and profitable targets for attackers because they can hold a great amount of money. Smart contracts, although widely used in blockchain technology, are far from perfect due to security concerns. Since there are recent studies on smart contract security, none of them systematically study the strengths and weaknesses of smart contract security. Some have focused on an analysis of program-related vulnerabilities by providing a taxonomy of vulnerabilities. Other studies are responsible for listing the series of attacks linked to smart contracts. Although a series of attacks are listed, there is a lack of discussions and proposals on improving security. This survey takes stock of smart contract security from a more comprehensive perspective by correlating the level of vulnerability and systematic review of security levels in smart contracts.

Keywords: blockchain, Bitcoin, smart contract, criminal smart contract, security

Procedia PDF Downloads 138

Authors: Babalola Sunday Oyetayo, Igbinomwanhia Uyi Osamwonyi, Idowu T. O., Herbert Tata

Abstract:

This paper explores the potential benefits of adopting blockchain technology in Nigeria's land administration systems while also addressing the challenges and implications of its implementation in the country's unique context. Through a comprehensive literature review and analysis of existing research, the paper delves into the key attributes of blockchain that can revolutionize land administration practices, with a particular focus on simplifying land registration procedures, expediting land title issuance, and enhancing data transparency and security. The decentralized and immutable nature of blockchain offers unique advantages, instilling trust and confidence in land transactions, which are especially crucial in Nigeria's land governance landscape. However, integrating blockchain in Nigeria's land administration ecosystem presents specific challenges, necessitating a critical evaluation of technical, socio-economic, and infrastructural barriers. These challenges encompass data privacy concerns, scalability, interoperability with outdated systems, and gaining acceptance from various stakeholders. By synthesizing these insights, the paper proposes strategies tailored to Nigeria's context to optimize the benefits of blockchain adoption while addressing the identified challenges. The research findings contribute significantly to the ongoing discourse on blockchain technology in Nigeria's land governance, offering evidence-based recommendations to policymakers, land administrators, and stakeholders. Ultimately, the paper aims to promote the effective utilization of blockchain, fostering efficiency, transparency, and trust in Nigeria's land administration systems to drive sustainable development and societal progress.

Keywords: block-chain, technology, stakeholders, land registration

Procedia PDF Downloads 38

Authors: Gheyzer Villegas, Edgardo Cedeño, Veruska Mata, Edmundo Chauran

Abstract:

One of the most significant changes that occurred in global commerce was the emergence of cryptocurrencies and blockchain technology. There is still much debate about the adoption of the economic model based on crypto assets, and myriad international projects and initiatives are being carried out to try and explore the potential that this new field offers. The Hive blockchain is a prime example of this, featuring two use cases: of how trade based on its native currencies can give successful results in the exchange of goods and services and in the financing of social impact projects. Its decentralized management model and visionary administration of its development fund have become a key part of its success.

Keywords: Hive, business, network, blockchain

Procedia PDF Downloads 38

Authors: James Newman

Abstract:

Process mining is an emerging technology that looks to serialize enterprise data in time series data. It has been used by many companies and has been the subject of a variety of research papers. However, the majority of current efforts have looked at how to best create process mining from standard relational databases. This paper is the first pass at outlining a database custom-built for the minimal viable product of process mining. We present Block Miner, a blockchain protocol to store process mining data across a distributed network. We demonstrate the feasibility of storing process mining data on the blockchain. We present a proof of concept and show how the intersection of these two technologies helps to solve a variety of issues, including but not limited to ransomware attacks, tax documentation, and conflict resolution.

Keywords: blockchain, process mining, memory optimization, protocol

Procedia PDF Downloads 63

Authors: Maria Florencia Ferrer, Saulo Fabiano Amancio-Vieira

Abstract:

The use of the blockchain in the public sector is present today and no longer the future of disruptive institutional and technological models. There are still some cultural barriers and resistance to the proper use of its potential. This research aims to present the strengths and weaknesses of using a public-permitted and distributed network in the context of the public sector. Therefore, bibliographical/documentary research was conducted to raise the main aspects of the studied platform, focused on the use of the main demands of the public sector. The platform analyzed was LACChain, which is a global alliance composed of different actors in the blockchain environment, led by the Innovation Laboratory of the Inter-American Development Bank Group (IDB Lab) for the development of the blockchain ecosystem in Latin America and the Caribbean. LACChain provides blockchain infrastructure, which is a distributed ratio technology (DLT). The platform focuses on two main pillars: community and infrastructure. It is organized as a consortium for the management and administration of an infrastructure classified as public, following the ISO typologies (ISO / TC 307). It is, therefore, a network open to any participant who agrees with the established rules, which are limited to being identified and complying with the regulations. As benefits can be listed: public network (open to all), decentralized, low transaction cost, greater publicity of transactions, reduction of corruption in contracts / public acts, in addition to improving transparency for the population in general. It is also noteworthy that the platform is not based on cryptocurrency and is not anonymous; that is, it is possible to be regulated. It is concluded that the use of record platforms, such as LACChain, can contribute to greater security on the part of the public agent in the migration process of their informational applications.

Keywords: blockchain, LACChain, public sector, technological disruptions

Procedia PDF Downloads 146

Authors: Vasiliki Vlachou, Christos Kontzinos, Ourania Markaki, Panagiotis Kokkinakos, Vagelis Karakolis, John Psarras

Abstract:

Higher Education is resisting the pull of technology, especially as this concerns the issuance and verification of degrees and certificates. It is widely known that education certificates are largely produced in paper form making them vulnerable to damage while holders of such certificates are dependent on the universities and other issuing organisations. QualiChain is an EU Horizon 2020 (H2020) research project aiming to transform and revolutionise the domain of public education and its ties with the job market by leveraging blockchain, analytics and decision support to develop a platform for the verification and sharing of education certificates. Blockchain plays an integral part in the QualiChain solution in providing a trustworthy environment to store, share and manage such accreditations. Under the context of this paper, three prominent blockchain platforms (Ethereum, Hyperledger Fabric, Hyperledger Iroha) were considered as a means of experimentation for creating a system with the basic functionalities that will be needed for trustworthy degree verification. The methodology and respective system developed and presented in this paper used Hyperledger Iroha and proved that this specific platform can be used to easily develop decentralize applications. Future papers will attempt to further experiment with other blockchain platforms and assess which has the best potential.

Keywords: blockchain, degree verification, higher education certificates, Hyperledger Iroha

Procedia PDF Downloads 108